💡 Welcome back to DV Chain's Weekly Market Commentary! In this edition,  we cover Bitcoin’s continued upward momentum, hitting $69k before pulling back, and notable surges in $APE and $DOGE. Trump’s growing lead in the election appears to be a factor behind crypto's outperformance. Additionally, Tether announces plans to explore commodities trading, and Stripe’s $1.1 billion acquisition of stablecoin platform Bridge signals further integration of crypto rails into traditional finance. Dive in for insights on the latest market trends and potential trade ideas:
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Market Recap
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• Bitcoin continued its upward trend, rising 6% over the week to reach $69k before giving back gains on Monday open
  
  
• $APE surged 104% following the launch of Ape Chain
  
  
• $DOGE outperforms on the week as Elon keeps mentioning the Department of Government Efficiency (D.O.G.E)
  
  
• Trump’s lead stretches further, which seems to be one of the drivers behind crypto outperformance

• Tether announced plans to explore commodities trading and traditional finance opportunities
  
  
• Clearpool launched WaveMaker, an accelerator for tokenizing real-world assets
  
  
• Payments processor Stripe has finalized a deal to buy stablecoin platform Bridge for $1.1 billion
  • This hefty acquisition as well as all the moves in the tokenization space further suggests that crypto rails may soon replace TradFi rails in finance/remittances
    
    
• Lending protocol Radiant Capital, exploited for $50m
  
  
• Open Interest remains near highs on the year, just 2 weeks out from the election

• BTC open interest reaches ATH’s on CME, while ETH CME OI is well off the highs
  
  
• Crypto conferences this week include Cosmosverse, Cardano Summit, and DYDX Day

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Upcoming Catalysts / Trade Ideas
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• Tia Unlocks, 10/30
  • $1B worth of tokens to be unlocked
    
    
• FTX creditor distributions in Q4-Q1 ‘25
  
  
• Uniswap v4 launch, Q4
  
  
• Sonic (FTM) Mainnet, December
  
  
• Monad testnet launch, Q4
  
  
• MapleStory Universe Game Launch, End of Year

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