Fidelity Applies for Spot Ethereum ETF | Cryptocurrency Trends

1.Mainstream Exchange Trends:

• Upbit's October volume grew by 82% YoY, from US$32.8 billion to US$59.8 billion.
• Bitget introduces the position grid trading bots (spot + futures), which support the use of forward/reverse spot and futures position grids in geometric/arithmetic mode.
• FTX claims rise to as high as 60 to 65 cents per dollar, a 30% increase from about a month ago. In late October, FTX creditor claims closed at over US$0.50 OTC.
• Mainstream Exchange Listings (CEX: Token — Time of Listing in UTC+8)

2.Cryptocurrency Trends:

• Spot Bitcoin/Ethereum ETFs: (1) Fidelity files for a spot Ethereum ETF; (2) the U.S. SEC delays approval of the Hashdex Nasdaq Ethereum ETF, with a decision to be made by January 1, 2024; and (3) the U.S. SEC delays a decision on the Global X and Franklin Templeton spot Bitcoin ETFs.
• Sam Altman remains on the Worldcoin development team after news of his ousting from OpenAI. Despite subsequent pressure from OpenAI investors on the board, Altman's return is still up in the air, with the news causing WLD to plummet for two days before a pullback.
• UniSat Wallet launches the UniSat Developer Service, which includes almost all of the features delivered in 2023. Developers can use the service to rebuild a brand-new UniSat from scratch.
• OP Stack-based L2 network Mode launches on the developer mainnet and will launch on a public mainnet in early December.
• Polkadot may abandon parachain slot auctions in favor of a new mechanism by the end of 2023 or in early 2024, according to the new CEO of the Web3 Foundation.

3.Financing Trends:

• Sleek, a Web3 social networking platform, raises US$5 million in seed round funding with participation from Binance Labs and others.
• Credix, a Solana-based credit marketplace protocol, raises US$60 million in a credit facility led by Motive Partners and ParaFi Capital.
• OMTrade, a social trading platform, raises US$6 million in seed round funding with participation from STEPN developers.

4.Regulatory Trends:

• Ukrainian officials trained in cryptocurrency and virtual asset investigations to support the governments of Georgia, Moldova, and Ukraine in mitigating the criminal risks associated with virtual assets and cryptocurrencies.