Welcome to the Beluga Brief, where we deliver data-driven insights to your inbox every week, spending our time in the crypto trenches and combing through thousands of crypto news feeds so you don’t have to.

As the Beluga Brief grows we’ll try out new content sections and schedules to find what is best for our readers — since Memecoins are all the rage these days, we’ve added a section to cover all the craziness in the market from Marc Andreessen-funded AI memecoins to the most profitable traders turning $100 into millions. If you have other suggestions for things you’d like us to cover, feel free to leave a reply on our Twitter!

Fundstrat Solana Report

Our partners at Fundstrat, a leading market strategy and sector research fund, have just released their report on the cutting edge technology being developed on the Solana blockchain. They have also been kind enough to make it available to Beluga Brief subscribers for free!

If you’re interested in a deep dive into topics like the slide above, you can download the full report from the link below. You can expect more reports like this from our partners in the future, so be sure to stay tuned if you’re interested in getting ahead of the market!

What happened today?

Honestly I’m not even sure where to begin, as the last 24 hours has been absolutely insane for the crypto markets and the country as a whole. As it became increasingly clear that Trump would be the victor heading into last night, we saw the price of Bitcoin smash through previous highs all the way to $76,000 at time of writing. With headlines just starting about Senator Lummis’ plans for a Strategic Bitcoin Reserve, I believe this is only the beginning of the craziness we’ll see throughout the rest of this cycle.

One of the most interesting pieces of last night was how accurate Polymarket ended up being through this election. Through allegations of odds manipulation and everything, Polymarket ended up being the earliest and most accurate predictor of all the polling. In fact, if you compare a state chart from Polymarket on the 25th to the actual outcome of the election, it is exactly the same — pretty cool feat for a crypto company.

If you’ve been a subscriber here over the last few months, you’ll know we never wavered in our bullish stance even through mind-numbing dips like we saw at the beginning of August. While Bitcoin’s performance is vindicating, the job is far from over. With new highs made on BTC we should expect to see the rotation to alt-coins commence as investors turn risk on with their new found wealth, and it’s something we’re already seeing with coins like $AAVE up over 25% today alone. So far this year has not been kind to the alt market, so there are tons of coins on serious discount for discerning traders. If you want to skip doing all the research yourself, you can always find the live Beluga trading portfolio on our website here. As always, we’ll continue to update our readers every single week with everything they need to know.

Biggest Headlines

The Beluga intern has been hard at work gathering all the most important crypto news stories so you have them in one place!

The Majors

• ‘Amazing Awaits’: Crypto leaders rejoice as Bitcoin rallies following Trump blowout win

• BlackRock’s spot bitcoin ETF sees $1 billion of volume in just 20 minutes following Trump victory

Alt Coins and Stocks

• Coinbase, bitcoin miners rally as Trump’s presidential win drives bitcoin to new highs and boosts crypto stocks

• Avalanche Foundation buys back $52 million worth of AVAX tokens from Do Kwon’s defunct ‘Luna Foundation Guard’

Regulatory

• France to ban users’ access to Polymarket

New Launches

• Arkham Research enters crypto market with new exchange for perpetual trading

Miscellaneous

• Pump.fun hits record revenue amid AI and memecoin frenzy, surging to $30.5 million in October

Memecoin Corner

Since everything is turning risk-on, it was of course a great day for memecoins. Even on the Ethereum side which has been considerably less active than Solana this year had quite a day, with many of the core memecoins like Joe and SPX doing massive numbers. It was also great to $PNUT (after the late Peanut the Squirrel) rally back over $100M after we mentioned it in Monday’s newsletter at $35M due to continued attention from mainstream people like Elon Musk.

$PNUT is just the latest runner in a series of memecoins based on viral “IRL” things such as Moodeng or even $LOCKIN, and so it seems clear we’ve got a new meta going. It makes sense that viral memes should perform better given how much of the valuation is derived from attention, but it is becoming even more the case after traders have witnessed how well these coins perform. I still think AI coins fit into this category given the mainstream attention on the sector, so I would keep an eye on the outperformers like $GOAT and $LUNA to have an idea how the category is doing.

Tweet of the Day

I gotta give it to Senator Lummis, I don’t know what her other policies are but this one sounds pretty good to me.

The content on this site is for informational purposes only and should not be construed as investment advice. While Beluga strives to ensure the accuracy and timeliness of information, there may be discrepancies when comparing our data to that of financial institutions, service providers, or specific product websites. Always consult with a professional before making any financial decisions.

Will McKinnon is the Head of Content for Beluga and has spent every day for many years trading coins. For that reason there are too many to name, however his largest holdings by a significant margin are Ethereum and Bitcoin. NFA DYOR