US Stock Market Opens Lower, Crypto-related Stocks Experience a Broad Decline, with Strategy Inc. Plunging by 5.14%
On November 7th, based on market data, the U.S. stock market opened with all three major indexes opening lower collectively. The S&P 500 index fell below 6,700 points, and the Nasdaq fell below 23,000 points. U.S. stock crypto concept stocks generally declined, including: Strategy (MSTR), which fell by 5.14%; Circle (CRCL), which fell by 2.07%; Coinbase (COIN), which fell by 1.28%; MARA Holdings (MARA), which fell by 3.73%; Riot Platforms (RIOT), which fell by 5.48%; Bitmine Immersion (BMNR), which fell by 1.35%; and SharpLink Gaming (SBET), which fell by 2.42%.
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SOL sees short-term dip to $150, with a 4.89% decrease in the last 24 hours
On November 7th, based on HTX market data, SOL witnessed a short-term decline and touched $150. It is currently trading at $150.4, indicating a 24-hour decrease of 4.89%.
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James Wynn Reveals 40x Bitcoin Short Position Profit, Entry Price $105,148.7
On November 7th, according to the monitoring of
HyperInsight, "Bankruptcy Whale" James Wynn disclosed his 40x leveraged short position in Bitcoin. The current position size is $3 million, the entry price is $105,148.7, and the unrealized gains exceed $150,000.
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Due to the continued drag from weak U.S. employment data, the U.S. Dollar has weakened.
On November 7th, the US Dollar Index (DXY) dipped to a one-week low. This occurred as investors continued to absorb the weak US private sector employment data from Thursday. The US Challenger business layoff data revealed a significant rise in layoffs during October, which strengthened market expectations of another Fed rate cut in December. During the US government shutdown, as there was a lack of official data, the market became more dependent on data from private institutions. Analyst Chris Turner from ING pointed out in a report that the decline of the dollar might also reflect an improvement in money market conditions. The borrowing volume for the Fed's overnight standing repo facility (SRF) has decreased to zero, while a week ago, the facility was being utilized up to $500 billion. (FXStreet)
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The Graph has introduced the first blockchain-native database, Amp, designed for enterprise-scale development, and has received recognition from DTCC.
On November 7th, the core development team of The Graph, Edge&Node, launched the first blockchain-native database Amp on the main stage of Chainlink SmartCon, which is designed for enterprise-scale. Amp transforms encoded on-chain data into real-time, verifiable, and compliant datasets that are transparent, auditable, and composable.
This product has gained high recognition from the Depository Trust & Clearing Corporation (DTCC). The Graph will further collaborate with DTCC to enable access to reliable, production-grade blockchain data. This collaboration indicates that traditional institutions are increasingly seeking scalable data solutions.
DTCC processes trillions of dollars in securities transactions annually and provides custody for over $100 trillion in securities from more than 170 countries and regions.
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Tether Secures First-Ever Board Seat at Juventus Club
On November 7th, Paolo Ardoino, the CEO of Tether, announced that Tether has just obtained its first seat on the board of directors of Juventus Club. Francesco Garino has been verified as the representative of Tether to join the Juventus board.
Previously reported by BlockBeats that on June 25th, Tether, which is currently the second-largest shareholder of Juventus after Exor NV, the club's largest shareholder. Exor is the investment company of the Italian billionaire Agnelli family and has been in charge of the football club for more than a century. According to a statement from Tether, Tether is also aiming to obtain a seat on Juventus's board of directors.
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