Trump's Pro-Crypto Appointments Spark Surge in Bitcoin and Market Optimism

Daily Top Performer — Ethena (ENA)

The S&P 500 rose 0.1% to a record high, fueled by optimism around potential Trump policy changes. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 6.87%, with Bitcoin and Ether rising by 10.27% and 4.80%, respectively in the past 24 hours.

Today's top performer is ENA, which surged 8.2% following Pendle's partnership with Ethena Labs for Boros v3, revolutionizing yield trading with margin and funding rate efficiency.

Ethena Labs (ENA), founded in 2023, introduces USDe, a synthetic dollar on Ethereum, offering a decentralized alternative to traditional stablecoins. It features the 'Internet Bond' for global savings, using delta-hedging to manage volatility and aiming to transform the financial ecosystem by enhancing Ethereum's utility. Pendle is partnering with Ethena Labs on "Boros" v3, a platform for yield trading with margin and efficient funding rate management. It allows traders to hedge risks and speculate on funding rate fluctuations. There are no new tokens, with PENDLE and vePENDLE central to the ecosystem. Updates include an airdrop for vePENDLE holders and fee optimizations to boost sustainability and adoption.

Check Out the Latest Prices, Charts, and Data of ENAUSDT Perp and ENA/USDT Spot Contracts!

Talk of the Town

President-elect Donald Trump plans to appoint pro-crypto candidates to key financial agencies, aiming to create a more crypto-friendly regulatory environment and fulfill his promise to make the U.S. the "crypto capital of the planet." This shift has sparked a surge in cryptocurrency prices, with Bitcoin hitting a new all-time high of $89,560 and Ethereum rising nearly 40%. Trump's victory and the prospect of pro-crypto leadership have also boosted the U.S. stock market, signaling potential further market growth once he takes office in January 2025.

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Bitcoin Spot ETF Flows

Yesterday, the total BTC spot ETF flow is $357.6 million, with $24.2 million in GBTC and $333.4 million in non-GBTC assets.

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Airdrop to Watch

Ora Protocol announced that users can convert ORA Points into ORA tokens, with tokens vesting linearly over a year from the token generation event (TGE). Full access to tokens will be available one year post-TGE.