This week, the virtual asset market extended its correction as uncertainty intensified. As of 10 a.m. on the 14th, Bitcoin was $99,368, down 4.8% from a week earlier, and Ethereum was $3,225, down 5.3%. During the same period, the altcoin market saw rises in SOON (+55.27%), Starknet (STRK, +41.58%), and World Liberty Financial (WLFI, +23.87%), but overall showed a bearish trend.
Even though the longest U.S. federal government shutdown (partial suspension of functions) has ended, a statistical blackout that is preventing the release of key economic indicators is continuing, increasing uncertainty across the market. The White House acknowledged the possibility that October consumer price index (CPI) and employment indicators may not be released due to damage to the statistical system.
Shin Yeong-seo, a Xangle researcher, said, "Despite the end of the shutdown, uncertainty across the market is strong due to gaps in indicators," and noted, "It is necessary to keep an eye on whether the U.S. Federal Reserve will cut the benchmark rate in December, CPI, and employment indicators."
◇ CFTC seeks to allow leveraged spot cryptocurrency trading
The U.S. Commodity Futures Trading Commission (CFTC) is pushing to allow leveraged spot virtual asset transactions through regulated exchanges.
Caroline Pham, acting chair of the CFTC, recently said, "In consultation with regulated exchanges, we plan to launch leveraged spot transaction products soon." Leveraged spot trading is a method that allows investors to borrow a certain amount to take positions larger than their held assets.
For example, using 5x leverage, a position equivalent to $5,000 in Bitcoin transactions becomes possible with $1,000 in equity. Until now, such products existed only on non-U.S. exchanges such as Binance, Bybit, and OKX.
◇ Coinbase launches token sale platform
Coinbase has launched a new token sale platform. A token sale refers to selling digital tokens to individual investors before listing on an exchange. Coinbase will hold its first token sale from Nov. 17–22 and plans to continue with one project per month thereafter.
Coinbase structured the system to prioritize allocation to users who apply with smaller amounts so that more users can secure tokens. Coinbase requires token issuers to disclose project information, team composition, and tokenomics, and prohibits selling coins for six months after the sale.
☞ About CrossAngle
It provides on-chain data–based essential operating solutions and trust-based community-building services for companies and foundations adopting Web3. It operates the crypto data intelligence platform Xangle, and the Xangle research team creates content to show trends in the virtual asset investment industry based on global virtual asset information and data.