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Summary EigenLayer's TVL increased from $250 million to $1.7 billion in just one month. The re-staking sector is witnessing extraordinary growth. However, it is important to note that, in comparison to the overall volume of LSD, the re-staking sector still has considerable room for growth. For users primarily holding ETH, depositing ETH in LSD protocols like Lido and then re-staking the acquired stETH to earn another profit presents a more advantageous strategy over the long term. Additionally, apart from the anticipated EigenLayer airdrop, projects like AltLayer will also airdrop their tokens to EigenLayer re-stakers. This could result in profits significantly surpassing initial expectations.
- 07:39Trader Eugene: Ethena's recent development has exceeded expectations, and the target price of ENA has been raisedTrader Eugene said on X platform that USDe is currently in circulation at 3.7 billion after adding 1.2 billion in circulation in the past 6 weeks. sUSDe's yield has ranged from 10% to 25% in the past 6 weeks, and Deribit accepts USDe as stablecoin collateral. Ethena's fee conversion proposal was also approved, and these fee conversions guarantee that sENA holders are the main beneficiaries of the success of the protocol. These developments exceed expectations for ENA 2 months ago and have adjusted ENA's target price higher.
- 07:12VanEck: Reiterates Bitcoin's $180,000 target price remains unchangedAsset management giant VanEck's latest report reiterated that it will continue to maintain the price target of Bitcoin at $180,000 in this cycle, and said that from the perspective of key indicators, this round of rebound seems to have just begun. It is reported that VanEck analyzed three key indicators: funding rate, relative unrealized profit (RUP) and retail interest trend. It pointed out: 1. The perpetual futures funding rate has been above 10% since November 12, indicating that the bullish momentum has increased; 2. In addition, the current 30-day moving average relative unrealized profit level is about 0.54, which usually indicates that the market will reach a peak in a longer period of time; 3. The search term heat is only 34% of the high point in May 2021, indicating that the speculative frenzy has not yet spread, and the re-engagement of retail investors will give Bitcoin room for further increases.
- 07:11LM Funding released its latest financial report, revealing that it holds 140.5 BTC, worth $13.3 millionGolden Finance reported that LM Funding, a Nasdaq-listed crypto mining and technology professional financial company, announced a new unaudited financial report ending October 31, 2024, which disclosed that the company's mining output in October was 7.3 BTC, higher than the mining output of 6.6 BTC in September. It currently holds 140.5 BTC, worth approximately US$13.3 million (based on the BTC price of US$94,700 on November 20).