In the latest Altcoin Daily video, a discussion revolves around the recent surge in the cryptocurrency market, particularly driven by a strong U.S. jobs report that revealed the economy added 261,000 jobs in October. Bitcoin and Ethereum saw significant gains, with Bitcoin indicating strong fundamentals, such as the lowest seller exhaustion since November 2018 and an all-time high in its hash rate. Despite challenges faced by larger miners, Bitcoin’s network remains robust and increasingly decentralized.
Ethereum, while not yet net deflationary, has shown a considerable reduction in issuance post-merge, with notable decreases compared to pre-merge levels. The number of addresses sending ETH to exchanges has hit a five-year low, and Layer 2 solutions show promising growth, especially with NFT market activity gaining traction.
The video also covers the rebranding of Elrond to Multiverse X as it shifts focus to the metaverse, alongside Gala Games reassuring users regarding stability amidst market fears. Other news highlights include Asics launching a Solana NFT sneaker collection and encouraging viewer participation in voting for crypto influencers. The channel promotes an upcoming event in Miami, inviting viewers to engage with the evolving crypto space.