Huobi Global Weekly (11.8-11.14): U.S. SEC Rejects VanEck’s Spot Bitcoin ETF Proposal

 Latest News    |      2021-11-15


1. Last Week’s Wrap-Up

New Launch

CERE went live on November 8, with a maximum gain of 72.8% since launch.

Click to view the market

ENS went live on November 9, with a maximum gain of 470% since its launch.

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Huobi Group 8th Anniversary

Cloub Summit: “Huobi Summit 2021: Blockchain and Beyond!”

On November 8, Huobi Group celebrated its eighth anniversary with the Huobi Summit 2021: Blockchain and Beyond, an online forum on the digital economy. The forum was attended by more than 30 guests, including Alan Greenspan, former Chairman of U.S. Federal Reserve, Chen Zhiwu, Professor of Finance in Economics at the University of Hong Kong, and Thomas Davin, Director of Global Innovation Office of UNICEF. Together with Du Jun, Co-Founder of Huobi Group, they conducted deep-dive discussions into a number of trending topics in the development of the digital economy.

Click to watch the summit

Huobi Group 8th Anniversary Series Celebration Activities


To celebrate the 8th Anniversary of Huobi Group, various business organizations have prepared a series of activities, and Huobi is raffling off one lucky ticket to space and a lucky crypto gift package!

Click to find out more about the event


2. What to Watch Out For This Week


TRC20 Chain-based USDC Deposits and Withdrawals Go Live: 30,000 USDC Prize Pool and Zero Withdrawal Fees

Period: 10:00 (UTC) on Nov 9 - 10:00 (UTC) on Nov 16

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SOL Chain-based USDT Deposits and Withdrawals Go Live: 40,000 USDC Prize Pool and Zero Withdrawal Fees

Period: 10:00 (UTC) on Nov 10 - 10:00 (UTC) on Nov 17

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Polkadot Auction: Vote to Win a Share of $250,000

Event Period: 12:00 (UTC) on Nov 12 - 02:00 (UTC) on Dec 8

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Giveaway for Futures Users: Trade to Grab $40,000 in SHIB

Campaign Period: 8:00 on Nov 10, 2021 – 8:00 on Nov 18, 2021 (UTC)

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Join Contract Grid Trading to Split 20,000 USDT

Campaign Period: 06:00 (UTC) on Nov 11, 2021 – 06:00 (UTC) on Nov 19, 2021

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Trade and Advertise on Huobi P2P to Share 33,888 USDT Prize Pool!

Event Period: 16:00:00 (UTC) on 7 Nov, 2021 – 15:59:59 (UTC) on 21 Nov, 2021

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>Huobi Earn<

Huobi Earn Video Tutorial Challenge: Grab up to 1,000 USDT!

Period: 12:00 (UTC) on Nov 3- 12:00 (UTC) on Dec 3

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New to Huobi? Get a 100% APY Earn Booster Coupon! 

Period: 12:00 (UTC) on Nov 3— 12:00 (UTC) Dec 3

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3. Market Movers


4. Huobi Global Operating Metrics


5. Industry Trends

Curve Encounters Governance Attacks

The stablecoin USDM team used Convex to launch a governance attack on Curve.
Huobi Research Institute Analysis:
In this attack, the Mochi project owner voted to increase the USDM pool rewards by purchasing Convex's CVX tokens to increase the liquidity of USDM with other assets and then exchanged a large amount of the project owner's USDM tokens for DAI after the liquidity increase.


Cryptocurrency payments

AMC accepts Bitcoin, Ethereum, Bitcoin Cash, and Litecoin for online payments.

MasterCard develops a strategy to support the growth of the cryptocurrency community. In addition, MasterCard will launch crypto payment cards in the Asia Pacific region with Amber Group, Bitkub, and CoinJar as partners.

Regulated Stablecoin

USDC issuer Circle plans to establish a hub in Singapore. Launch Circle Ventures.

Huobi Research Institute Analysis:

With Tether currently facing a compliance investigation, Circle is accelerating its global expansion, contributing to expanding its global market share and market reach.

Other Projects

Axie Infinity developer Sky Mavis launches Ronin mobile wallet for the Ethereum sidechain.

Filecoin to launch EVM-compatible Filecoin virtual machine FVM in phases.

Huobi Research Institute Analysis:

The FVM will go live in phases, with the first phase expected to launch on the Filecoin mainnet in Q4 2021 as a non-programmable FVM, running only system actors. The second phase introduces a protocol fork (Q1 2022) and introduces preparatory adjustments, including Gas mechanisms and architectural tweaks before developers can program it.


U.S. SEC rejects VanEck’s spot Bitcoin ETF proposal

U.S. SEC files suit against CryptoFed DAO, a Decentralised Autonomous Organisation.


6. Weekly Blockchain Deals

Huobi Research Institute Analysis:
According to publicly available information, Blockchain and crypto deals over the last week reached 25 in total or 2.046 billion USD in valuation. The ringgit was up 52.8%. The deals focused on Defi, Gaming, etc. Especially DeFi, it has been very active in terms of both the total amount raised and the number of funding rounds.
There were five funding rounds over $50 million, with the largest coming from Binance, with a $1 billion growth fund investment in Deri Protocol.
In addition, Forte, a Blockchain gaming infrastructure provider, closed a $725 million Series B funding round; Matter Labs closed a $50 million funding round led by a16z.
Ethereum miner CoreWeave closes $50 million investment by Magnetar Capital; crypto venture capital fund Cadenza Ventures closes $50 million fundraising with Solana, Dapper Labs, and others.