ChainCatcher news, this week is a busy week for economic data. The Fed's favored inflation indicator PCE data, the October non-farm payroll report, and the Q3 earnings reports from Apple, Google, Microsoft, Meta, and Amazon will determine the market direction at the start of November.According to 4E monitoring, last week the three major U.S. stock indexes had mixed performances. Tesla's stock price surged, pushing the Nasdaq up about 0.9%, marking its seventh consecutive week of gains and just a step away from its historical high. The S&P 500 fell 0.3% last week, and the Dow Jones dropped 2.6%, both ending a six-week winning streak. The cryptocurrency market saw significant declines last week, with Bitcoin priced at $67,668, down 2.18% over the past seven days, and Ethereum at $2,490, nearly 10% lower over the same period.In the forex commodities sector, the dollar index approached a three-month high on Friday, rising 0.8% last week and marking its fourth consecutive week of gains, while political uncertainty led to a 1.9% decline in the yen last week. Due to the instability in the Middle East and the U.S. election, along with global central bank rate cut expectations, spot gold reached a historical high for three consecutive days last week before giving back some gains, but still ended the week up over 0.9%, marking its sixth consecutive week of increases. The tense situation in the Middle East has pushed both U.S. and Brent crude oil prices up over 4% for the week.Recently, the market has increasingly anticipated a soft landing for the U.S. economy, and this week's series of economic data will test investors' bets. On Wednesday, the U.S. Q3 GDP estimate will be released, followed by the September PCE data on Thursday, and the October non-farm report on Friday. With the policy meeting approaching, Fed officials have once again entered their routine blackout period, and the market widely believes there is a high possibility of a 25 basis point rate cut. The influx of data combined with the approaching U.S. election will intensify market volatility. eeee.com is a financial trading platform that supports assets such as cryptocurrencies, stock indices, commodities like gold, and forex, recently launching a USDT stablecoin financial product with an annualized return of 5.5%, providing investors with potential hedging options. 4E reminds you to pay attention to market volatility risks and to allocate assets wisely.

ChainCatcher news, according to The Block, Borderless Capital partner Alvaro Garcia recently stated: "DePIN may be the only category in Web3 whose value comes from outside the crypto industry," and he believes this also allows DePIN projects to uniquely resist bear markets that may affect other crypto projects.In a recent interview at the mainnet conference, DePIN protocol Akash CEO Greg Osuri responded to this viewpoint. The protocol provides users with a decentralized marketplace to buy and sell computing power using AKT tokens and stated that regulators have already taken notice of the project's role."I spent a lot of time on Capitol Hill... I met with a key staff member of the House Energy and Commerce Committee... I introduced myself, and they said, 'We know Akash, it's the intersection of DePIN and artificial intelligence,'" Osuri said, calling the meeting "very productive."Osuri continued: "DePIN is more capable of attracting mainstream audiences than other crypto sectors. Currently, there is insufficient regulatory demand to ensure DePIN is not regulated like NFTs and DeFi, because when regulators study cryptocurrencies, they lump all industries together and regulate accordingly. So I think it's very important for us to separate the regulation of (DePIN and other cryptocurrencies) and ensure that legislators and regulators are informed. (Akash and InFlux) do not care about competition... as a way to demonstrate that we can achieve unity because we all care about the industry... Through this unity, I believe we can achieve regulatory clarity."

ChainCatcher news, Zhu Su, co-founder of Three Arrows Capital, commented on "FTX is expected to distribute $16 billion to creditors in Q4." Even if this amount cannot fully return to the crypto market, it is still a significant figure and may hint at boosting market sentiment.

ChainCatcher news, traders predict that if the Ethereum ETF is approved for trading, there is likely to be a significant amount of institutional capital involved. Some traders have also stated that they expect Ethereum's increase in the coming months to exceed 60%. In the past week, the demand for Ethereum futures and spot purchases has noticeably increased.

ChainCatcher news, JPMorgan stated in a research report last week that the strong rebound of digital assets over the past month was influenced by the news that a spot Bitcoin ETF may be approved. Analysts said, "The approval of a spot Bitcoin ETF will help the crypto market attract new capital, as newly approved ETFs will see inflows. Additionally, the approval will solidify a victory for the crypto industry, but it will be a setback for the U.S. Securities and Exchange Commission (SEC)," thus, the SEC is more likely to soften its stance on the cryptocurrency industry.JPMorgan expressed skepticism about both claims. Existing funds are more likely to shift from current Bitcoin products (such as Grayscale Bitcoin Trust (GBTC), Bitcoin futures ETFs, and listed mining companies) to newly approved spot ETFs, rather than new capital entering the cryptocurrency space, noting that such ETFs already exist in Canada and Europe, but "investor interest is low."

ChainCatcher news, according to DL News, Coinbase's Head of Institutional Research David Duong stated that considering China's nationwide ban initiated in 2021, the approval for retail investors to trade on cryptocurrency exchanges in Hong Kong is significant, but improvements in Asian regulatory conditions are unlikely to lead to a substantial influx of Asian capital immediately.Previously reported, the "Guidelines for Virtual Asset Trading Platform Operators" in Hong Kong will take effect on June 1. Meanwhile, the Hong Kong Securities and Futures Commission indicated that retail investors may be able to buy and sell virtual assets on licensed trading platforms as early as the second half of the year. (source link)

ChainCatcher message, Binance tweeted that it is consolidating funds from the deposit address into the hot wallet in preparation for the next phase of the POR (Proof of Reserve) audit. During this period, users may notice a temporary increase in Ethereum network gas fees, and there will be a large number of transactions flowing into Binance's hot wallet. (Source link)