Exciting news! We have officially added a daily edition to the Weekly Whale newsletter, and to go along with this we’ll be rebranding to “The Beluga Brief”. This means we’ll be able to deliver data-driven insights to your inbox every day of the week, spending our time in the crypto trenches and combing through thousands of crypto news feeds so you don’t have to.

What happened today?

Crypto took a bit of a hit last night as traders likely reacted to the outcome of the Trump vs. Kamala debate, seeing Trump’s negative performance as potentially negative for the market. In fact, the debate seems to have significantly impacted the candidates’ odds on Polymarket as the gap has now closed to 1% point despite Trump leading by as much as 6% just last week.

Messaging really hasn’t changed much on the price action side and we continue to ping pong between the highs and lows of the range that BTC has been stuck in for about 6 months now. For those around last year however, you’ll remember that September had horrible price action and chop which wiped quite a few traders out. The following month conversely turned out to be one of the best periods of price action we’ve seen, which ended up resulting in a new all-time-high for BTC earlier this year. I don’t expect to see the same velocity in a Bitcoin pump at this point in the market, however could we see alt-coins finally get their time in the light? I think our odds are pretty good.

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

• Traders are bullish on Bitcoin, and it’s not just because of the Fed’s cuts

• Bitcoin Mining Difficulty hits record with pressure mounting on profit margins

Regulatory

• Caroline Ellison seeks to duck prison sentence

• These crypto founders sided with Gensler, now they’re winning

Alt Coins

• Multicoin Capital shares their thesis on Solana protocol Drift

• DEX wars heat up as Uniswap dominance falls to 36%

New Launches

• Paradigm-backed Succinct and OP Labs aim to solve ZK rollups

• Atlas to merge Solana’s speed with Ethereum’s security

Miscellaneous

• Polymarket pre-debate odds of Harris victory hold true

Tweet of the Day

A savvy trader used his knowledge of smart contracts to purchase an NFT worth at least 600 ETH (about $1.4M) today for 10 ETH, or about $23,000. Find out how he did it below:

Recent Beluga Content

Check out our new article on the Render Network, the world’s first decentralized GPU rendering platform.

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