Announcements Gate Research: As U.S. Election Nears, Market Volatility Surges with $200M in Forced Liquidations Over 24 Hours

Gate Research: As U.S. Election Nears, Market Volatility Surges with $200M in Forced Liquidations Over 24 Hours

2024-11-05 10:49:31 UTC 13770 Read

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**Gate Research Daily Report (November 5): **In the past 24 hours, the total forced liquidation in the crypto market reached $206 million, with long positions accounting for $159 million. Over $600 million in tokens flowed into Solana, with more than 90% originating from Ethereum. Grayscale's multi-token fund GDLC submitted its ETP application, initiating the review process to potentially become the first multi-crypto asset ETP. a16z made an additional $23 million donation to the crypto advocacy group Fairshake to support crypto policy reform. Meanwhile, the State Bank of Pakistan proposed the legalization of digital currency.

**Market Analysis**: In the last 24 hours, total liquidations in the crypto market reached $206 million, with long positions accounting for $159 million.
**Top Performers**: The most popular tokens over the past 24 hours were TROY, COOK, and KYVE, with daily gains of approximately 68%, 31.7%, and 23.7%, respectively.
**Data Highlights**: In October, over $600 million in tokens flowed into Solana, with Ethereum contributing more than 90% of the total.
**Spotlight Analysis**: Grayscale's multi-token fund (GDLC) has submitted an application for an Exchange-Traded Product (ETP), which has now entered the review process. This could potentially be the first multi-crypto asset ETP.
**Market Opportunities**: The Humanity Protocol is utilizing palm recognition technology to give users complete control over their data and identity. The platform has introduced the RWT reward token as a core incentive mechanism on its testnet.
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Nov 5th, 2024

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