Ndax Weekly TL;DR November 4th

• London Press Conference Fails to Prove New Claim to Satoshi Nakamoto Identity
• US Adds Just 12K Jobs in October, Missing 113K Forecast
• Trump Reaffirms Pro-Crypto Position on Bitcoin Whitepaper Anniversary
   

In a London press conference on October 31, Stephen Mollah claimed to be Bitcoin’s elusive creator, Satoshi Nakamoto, but failed to offer concrete evidence to support his identity. The event, marred by technical issues, left journalists unconvinced, as Mollah’s presentation relied on unverifiable screenshots rather than cryptographic proof or movement of Satoshi’s Bitcoin holdings. The conference, organized by Charles Anderson, also faced skepticism due to recent fraud charges against both Anderson and Mollah, who were reportedly out on bail. As Mollah promised to provide further proof in the coming months, the claim joins a series of unsuccessful attempts to reveal the real Satoshi. CryptoSlate

The US labor market showed signs of weakness in October, adding only 12,000 jobs, significantly below the expected 113,000, according to the Nonfarm Payrolls report. This follows a downward revision of September's job gains from 254,000 to 223,000 and August's from 159,000 to 78,000. The unemployment rate remained unchanged at 4.1%. The report, released just before the presidential election and a Federal Reserve policy meeting, may influence market expectations regarding interest rates, with participants anticipating a potential rate cut. Following the report, Bitcoin's price remained volatile. CoinDesk

Former President Donald Trump marked Bitcoin’s 16th whitepaper anniversary by reiterating his support for cryptocurrency and his intention to foster crypto-friendly policies in the US. In a social media post, Trump emphasized his plans to advance Bitcoin domestically. His stance has gained attention within the crypto community, which has shown strong political engagement. As the election nears, pro-crypto voters are expected to play an influential role, especially in battleground states. Yahoo Finance
 

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News Nuggets

• MicroStrategy Unveils Ambitious $42 Billion Bitcoin Investment Plan CryptoSlate
• FTX CEO Argues for Nishad Singh’s Freedom to Aid in Bankruptcy Recovery Efforts Cointelegraph 
• Florida CFO Advocates Bitcoin Investment for State Pension Fund Diversification Cointelegraph
• PEPE Becomes Japan’s First Meme Coin to Gain Official Exchange Listing crypto.news 
• Chainlink Becomes Official Oracle Provider for TRON’s DeFi Ecosystem crypto.news
• Solana DApps Attract $173 Million in Institutional Investments, Up 54% in Q3 2024 Cointelegraph
• Paradigm Report: 5% of Crypto-Only Voters Could Impact 2024 US Election Margin Cryptonews

As of 11-04-2024 at 8:55 AM EST

Market Summary

• Over the last seven days, the global cryptocurrency market cap has gradually decreased from approximately CA$3.24 trillion to CA$3.19 trillion.
• Bitcoin’s market dominance has risen to 60.7%, while Ethereum’s share stands at approximately 13.2%.

Performance

• Over the past 24 hours, the price of BTC has fluctuated between CA$95K and CA$97K, with a market cap of CA$1.9 trillion. At Ndax, the weekly movers are SUI, which saw a 12% increase in the last seven days, reaching a market cap of CA$7.5 billion, and DOGE, which experienced a 6% rise with a market cap of CA$32.1 billion (at the time of writing).

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Mark your calendars!

• Nov 5: US Presidential Election
• Nov 7: US Initial Jobless Claims Announcement
• Nov 7: US Interest Rate Announcement
• Nov 8: Canada Unemployment Rate Announcement

This week’s blog, A Comprehensive Look at Crypto Wallet Types, dives into the key distinctions between hot and cold wallets, helping you discover which option best suits your needs for storing and managing crypto securely. You’ll learn about different wallet types, how each operates, and which may be the best fit for your trading style and security preferences. 
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