💡 Welcome back to DV Chain's Weekly Market Commentary!  With the U.S. election just days away, crypto markets have experienced heightened volatility, driven by fluctuating odds in a close race between Trump and Harris. Total open interest has declined amid this volatility, and it's likely markets will remain choppy until a clear winner emerges. Additionally, we’re looking ahead to key events like the FOMC rate decision and UBS's launch of a tokenized money market fund on Ethereum, marking continued growth in RWA tokenization. Dive in for insights on the latest market trends and potential trade ideas:
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Market Recap

• Crypto markets have been volatile over the past week as the election draws closer
  
  
• Trump odds peaked at around 66% on Polymarket but dipped down to 57% in what’s now looking like a very tight race

• Total Open Interest continued to fall as the volatility washed out a lot of positioning

• It’s likely that markets will keep chopping until we get a clear winner either Tuesday Night or Wednesday Morning
  • It’s expected that a Trump win results in a sharp move higher while a Harris win results in a sharp move lower
  • Historically, crypto markets have rallied after elections, although the sample size is limited
    
    
• We also have FOMC on thursday, where the Fed is expected to cut 25 bps
  
  
• UBS launched a tokenized money market investment fund on Ethereum, continuing the trend of RWA tokenization by large tradfi institutions
  
  
• $GRASS, a DePin / Ai Infra project TGE’d on Solana this week and had a successful launch, trading at 1.6B FDV, about 60% higher from it’s launch price
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Upcoming Catalysts / Trade Ideas
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• Election Day, 11/5
  
  
• FOMC, 11/7
  
  
• HYPE (Hyperliquid) TGE, Q4
  
  
• FTX creditor distributions in Q4 ‘24 - Q1 ‘25
  
  
• Sonic (FTM) Mainnet, December
  
  
• Monad testnet launch, Q4
  
  
• MapleStory Universe Game Launch, End of Year
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