News

According to a report by Jinse Finance citing data and insights from The Block, bitcoin's market dominance has dropped from its peak of 62% to 55%, indicating that the market is entering the early stage of capital rotation from bitcoin to altcoins. Ethereum (ETH) and Solana (SOL) are attracting renewed attention from both institutional and retail investors, while multiple digital asset treasuries are raising funds through publicly traded entities and purchasing assets, providing support for a potential rise in altcoins. The report points out that if the market continues to favor high-risk assets, altcoins could have further upside in the fourth quarter. However, the key lies in whether real spot demand can be formed, rather than relying solely on short-term trends driven by derivatives.

Jinse Finance reported that the crypto prediction market platform Polymarket has received a "no-action" letter jointly issued by the CFTC's Division of Market Oversight and Division of Clearing and Risk, allowing it to re-enter the US market under certain conditions after the US Commodity Futures Trading Commission (CFTC) terminated its investigation. CEO Shayne Coplan stated on X that this approval process was completed at a record speed.