BlockBriefly

Date: November 18, 2023

Market Cap 24h Change: 0.72%

Reason:

The market has been up by 0.72% because of several positive developments reported in the articles over the last 24 hours. Solana's performance, role in DeFi and adoption by game developers seems to have induced optimism as indicated in articles titled 'Op-ed: Are we heading for a Solana DeFi Summer?', 'Breaking down L1 blockchains: A deep dive into Solana, Avalanche, and Cosmos', and 'These Are All the Solana Games on the Epic Games Store Right Now'. Fidelity Investments' filing for a Spot Ethereum ETF, ensuring increased institutional interest in Ethereum, has arguably added to this positivity as outlined in the article 'Fidelity files for spot Ethereum ETF, trailing BlackRock’s lead by two days'. AVAX's price surge following its adoption by tech firm Republic for launching its profit-sharing digital asset can be another factor for this uptrend which is seen in the article 'Bullish Sentiment Surrounds AVAX Price As Republic Adopts Avalanche Blockchain'. However, despite these positive signs, the reason for the market's rise isn't completely clear from the articles.

Date: November 16, 2023

Market Cap 24h Change: -3.57%

Reason:

The market has been down by -3.57% because of several negative developments reported in the articles over the last 24 hours. The allegations of fraudulent crypto schemes against GS Partners by securities regulators in Texas and Alabama, as suggested by the articles 'Texas, Alabama securities regulators allege fraud against GS Partners in multiple crypto schemes' and 'California, Texas Among States Accusing GS Partners of Misleading Crypto Investors', might have created a negative market sentiment. Additionally, the proposed digital asset tax rules being said to be unworkable by several members of the US Congress, might have sparked uncertainty leading to investor reticence. Furthermore, the liquidation wave following Bitcoin longs of around $20 million, as evident from the article 'Market braces for U.S. impact after Bitcoin longs face $20 million liquidation wave', might have increased apprehension in the market. However, the exact contribution of these individual factors to the market decline is not completely clear from the articles.

Date: November 14, 2023

Market Cap 24h Change: -3.58%

Reason:

The market has been down by -3.58% because of several negative developments reported in the articles. Firstly, FTX's sell-off period triggered a 7% price drop in Solana after they transferred a large number of SOL tokens. Furthermore, the significant price fall of the memecoin 'Grok' by 74% due to a scam allegation against its creator might have negatively affected market sentiment. However, the exact contribution of these individual events to the market downturn is not completely clear from the articles.

Date: November 12, 2023

Market Cap 24h Change: 0.36%

Reason:

The market has been up by 0.36% because of several positive developments reported in the articles over the last 24 hours. Key factors contributing to the increase include the anticipated launch of a new crypto exchange by a former FTX general counsel, as indicated in 'Former FTX general counsel to launch new crypto exchange', which suggests increased activity and potential growth in the cryptocurrency exchange market. In addition, the articles like 'VET, IMX, GRT and ALGO show bullish setups as Bitcoin trades above $37K' and 'Solana's SOL Rallies 20% in a Day, Erasing Woes of Past 18 Months' signify bullish trends in multiple cryptocurrencies, likely contributing to the overall rise in the market cap. Moreover, developments like the potential nomination of an Ethereum ETF by BlackRock as hinted in 'Ethereum Fees Briefly Jumped to $100 After BlackRock’s ETH ETF Filing' and 'First Mover Americas: Ether Surges on BlackRock’s ETF Plans' might have spiked optimism in the Ethereum market, potentially boosting investments enormously and driving the market up. However, the exact contribution of these individual factors to the market rise is not completely clear from the articles.

Date: November 10, 2023

Market Cap 24h Change: 2.97%

Reason:

The market has been up by 2.97% because of several positive developments reported in the articles over the last 24 hours. Key factors contributing to the increase include profitable Bitcoin cohorts as indicated in 'All Bitcoin cohorts are in profit for the first time since October 2021', Bitcoin's bullish breakout signaled by the realized price as mentioned in 'Bullish signal for Bitcoin as realized price outpaces long-term holder cost', and the significant surge in Bitcoin's futures volume as reported in 'Bitcoin futures volume surges 157% as BTC crosses $37k'. Additionally, the Optimism surrounding a possible approval of a spot Bitcoin ETF and a significant enhancement of investor confidence as indicated by the Ethereum ETF filing possibly spurring spike in open interest and crypto asset inflows topping $1B referenced in 'Ethereum ETF filing triggers spike in open interest as Bitcoin steadies' and 'Crypto asset inflows top $1B as Bitcoin ETF optimism grows' respectively. Moreover, the Bitcoin options open interest skyrocketing to $18 billion as outlined in 'Bitcoin options open interest soars to unprecedented $18 billion', indicates the enhancement of investor confidence. However, the exact contribution of these individual factors to the market rise is not completely clear from the articles.