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According to Odaily, Floki has officially announced a strategic partnership with Koma Inu. The initial liquidity pool (LP) for Koma Inu has been locked on FlokiFi for a period of one year. FlokiFi is a decentralized finance (DeFi) product suite launched under the Floki brand, with a model similar to UniCrypt. Koma Inu's founder, Brian Sumner, has a notable background in the cryptocurrency community. He was a significant member of the BabyDoge English community and the founder of GHC. This partnership aims to leverage the strengths of both entities to enhance their offerings in the DeFi space.

According to Blockworks, Karate Combat has announced the upcoming launch of its layer-2 blockchain, UP, which will be built on the Hedera layer-1 network. This initiative marks the first professional striking league governed by its own KARATE token. The project enables over 100,000 users to earn tokens by accurately predicting fight outcomes using its Up Only Gaming software. The UP layer-2 blockchain is scheduled for launch in Q1 2025, with its $UP token expected to be released within the same year. Up to 30% of the $UP token will be allocated to KARATE stakers. Karate Combat’s pseudonymous co-founder, onlylarping, stated that the organization is highly motivated to expand its Up Only Gaming technology to other sports, esports, fantasy sports, and crypto projects. The UP technology will not only provide all the tech for free but also offer grants and access to its user base for early partners. The latest combat sporting event, KC 50, is being held at Permissionless III in Salt Lake City, UT, featuring a fight between David Hoffman, co-founder of Bankless, and Kain Warwick, co-founder of Infinex. In other news, the blockchain gaming asset management platform Polemos announced a partnership with Buff.game, a gaming company that operates a loyalty program for over 15 million players across games like Dota 2, Fortnite, League of Legends, and Valorant. This partnership will leverage Polemos’ asset management wallet and non-collateralized lending solution, allowing gamers to trade, lend, borrow, and access in-game items without the need for upfront investment. Carl Wilgenbus, CEO of Polemos, highlighted that this collaboration represents a significant moment in the evolution of gaming, combining Web3 expertise with Buff’s extensive player base to drive the adoption of blockchain gaming technologies. Additionally, Pudgy Penguin GIFs on Giphy have garnered more than 30 billion views. ENS domain names are now searchable on Google. The CryptoKitties NFT project is launching a new monster breeding game called “All the Zen” on the Telegram messaging platform. Gunzilla Games’ Avalanche-based battle royale shooter, Off the Grid, has gone live on PlayStation 5, Xbox, and PC, making it the first blockchain game available on PlayStation 5.

According to PANews, Ethereum co-founder Vitalik Buterin recently shared his thoughts on the current economic model of Ethereum on the X platform. Buterin highlighted a 'variance problem' in the ecosystem, referring to the volatility in discussions around Layer 1 (L1) and Layer 2 (L2) solutions. He noted that a year ago, the focus was on L1 extracting rent from L2, but now the situation has reversed. Buterin emphasized the need to avoid a mixed economy where tax rates fluctuate drastically based on market sentiment, jumping from 5% to 95%. Buterin proposed designing an economic model where the fees for both L1 and L2 remain reliably above zero, reducing the variance in their rates. He believes that such a model would lead to greater satisfaction among community members. He stressed the importance of maintaining an ecosystem where Ethereum community members feel like they are part of the same team. This includes technical interoperability, shared values and culture, and economic stability. Buterin mentioned several valuable directions worth exploring, such as EIP-7762, rollup-based protocols, and other forms of fee sharing. These initiatives aim to create a more stable and cohesive economic environment for Ethereum.

According to PANews, data from Coinglass reveals that the cryptocurrency market experienced liquidations totaling $99.8 million over the past 24 hours. Of this amount, long positions accounted for $26.38 million, while short positions made up $73.43 million. Bitcoin (BTC) saw liquidations amounting to $29.18 million, and Ethereum (ETH) experienced liquidations totaling $10.92 million. The significant liquidations reflect the volatility and rapid price movements within the cryptocurrency market.

According to Odaily, Vitalik Buterin recently shared his thoughts on the X platform regarding the current economic disparities between Layer 1 (L1) and Layer 2 (L2) solutions. Buterin highlighted that a year ago, the discussion centered around L1 extracting rent from L2, but the situation has now reversed. He emphasized the importance of avoiding a mixed economy where tax rates could jump from 5% to 95%. Buterin suggested that if the economic design ensures that both L1 and L2 fees remain reliably above zero, with low variance in their ratios, it would lead to greater satisfaction among users. Buterin stressed the need to maintain an ecosystem where the Ethereum community feels united, encompassing technical interoperability, shared values, and economic aspects. He pointed out that proposals like EIP-7762, Base Rolls, and other forms of fee sharing are valuable starting points for achieving this goal. The aim is to create a cohesive environment where all participants feel they are part of the same team, contributing to the overall success and sustainability of the Ethereum network.

According to Odaily, cryptocurrency influencer Murad recently shared on social media that meme tokens are poised to outperform other assets in the current market cycle. Murad emphasized that regardless of personal opinions, the performance of meme tokens will surpass all expectations. He noted that this is just the beginning of their potential rise.

According to Cointelegraph, James Howells, an IT engineer from Newport, is suing Newport City Council in the United Kingdom for 495 million British pounds (around $647 million) in damages after accidentally discarding a hard drive containing 8,000 Bitcoin. Howells has made numerous attempts to retrieve the drive from the local landfill but has met resistance from the council, which has repeatedly denied his requests to excavate the site. He mistakenly threw out the hard drive containing Bitcoin (BTC) in 2013 during a household clearout, now worth almost half a billion pounds. Howells has attempted to recover the lost hard drive for over a decade after mistakenly placing it in a bin liner, which ended up in a recycling center. In 2013, the value of his 8,000 BTC was around 1 million pounds (around $1.3 million). Howells has assembled a team of legal experts to file the court claim, which is set to be heard in December. Despite Howells’ offering to give the council 10% of the recovered BTC value if the hard drive is found, Newport City Council has consistently opposed the excavation request, citing environmental concerns. The landfill in question has been flagged for breaches of its environmental permit, including elevated levels of asbestos, arsenic, and methane. The council argues that digging up the site could harm the surrounding area and claims its operation follows strict monitoring protocols. In 2022, Howells reportedly pitched an $11 million idea to locate and recover the lost hard drive, potentially surrounded by 110,000 tonnes of garbage. The plan is active and would involve no cost to the council. Still, Newport City Council remains firm in its decision to refuse, questioning the legality and feasibility of Howells’ claims.

According to BlockBeats, on October 12, Ethereum co-founder Vitalik Buterin sold 6,900 ETH, POPCAT, and MSTR tokens. The transaction, monitored by Zerion, resulted in a total of 180.969 ETH.

According to Odaily, blockchain data reveals that Vitalik Buterin has once again sold a series of meme tokens. The tokens sold include MSTR, POPCAT, and ETH6900.

According to Odaily, El Salvador's President Nayib Bukele announced on the X platform that the country has accepted a debt buyback offer totaling approximately $940 million. Previously, the Salvadoran government proposed to repurchase sovereign bonds maturing between 2027 and 2052 at slightly above market prices or near face value. Analysts believe that this debt buyback could positively impact Bitcoin's price, enhance the country's ability to support Bitcoin investments, and position itself as a stronger advocate for cryptocurrency.

According to PANews, UniSat has announced on the X platform that the UniSat Runes market is now officially live on the Fractal Bitcoin mainnet. The fee structure for the UniSat Runes market on Fractal is identical to that on the Bitcoin mainnet.

According to BlockBeats, on October 12, NegenTropy Capital partner Billy Wen announced on social media that negotiations with the Slerf development team regarding a Community Take Over (CTO) had failed. As one of the largest holders of SLERF, Wen decided to initiate a Fight For CTO (FCTO) to address the remaining refund issues from the presale. Coingecko data indicates that Wen's statement led to a nearly 40% increase in SLERF's value within 24 hours, with the price briefly surpassing $0.21. At the time of reporting, SLERF was priced at $0.1955, with a market capitalization of $97.3 million.

According to BlockBeats, on October 12, data from DefiLlama revealed that the Total Value Locked (TVL) on the Sui Network has reached an all-time high of $1.378 billion. This milestone highlights the growing adoption and utilization of the Sui Network within the decentralized finance (DeFi) ecosystem. Among the notable contributors to this record, the NAVI Protocol, a lending protocol, reported a TVL of $493.65 million, marking a weekly increase of 1.41%. This growth underscores the protocol's steady performance and its role in driving the overall TVL of the Sui Network. Additionally, the lending platform Suilend achieved a TVL of $256.38 million, experiencing a significant weekly rise of 13.41%. This substantial increase reflects the platform's expanding user base and the growing trust in its lending services. Furthermore, the Scallop Lend protocol, another lending service on the Sui Network, recorded a TVL of $245.33 million, with a weekly growth rate of 2.21%. This consistent growth indicates the protocol's reliability and its contribution to the Sui Network's overall financial ecosystem.

According to Odaily, on-chain analyst Ali reported on X that Ripple whales have acquired more than $40 million worth of XRP in the past 48 hours.

According to PANews, Rollup technology, which moves multiple off-chain transactions from the main Bitcoin blockchain to an independent network for processing before submitting a compressed transaction back on-chain, is evolving rapidly. Common types of Rollups include optimistic rollups, ZK-Rollups, and sovereign rollups, with notable projects such as B² Network, Bitlayer, BOB, Citrea, QED Protocol, Zulu Network, GOAT Network, Mezo, Bitfinity Network, and Arch Network leading the way. In 2024, the Rollup ecosystem is expected to see significant development, with the rise of application chains and customized Layer 2 (L2) solutions driving innovation in decentralized finance. Competition among Rollups is anticipated to decrease, with a greater focus on cross-chain interoperability and user experience. ZK Rollups are gaining attention for their privacy and performance enhancements, while new-generation virtual machine Rollups are outperforming traditional Ethereum Virtual Machine (EVM) Rollups. Decentralized sequencer design and governance issues are becoming key discussion points, and while Rollup revenue models face challenges, the overall market potential remains substantial. Looking ahead to 2025, it is predicted that as the importance of individual chains diminishes, more value will flow to applications. Thousands of application chains or L2 solutions will redistribute revenue to applications through governance or protocol design. This shift will lead to the emergence of more customized or niche L2 solutions that offer revenue sharing, as well as chains specifically designed for applications, gradually integrating their technology stacks vertically. Tribalism among Rollups is expected to decrease as user experience shifts from switching between different chains to a more unified experience of simply using cryptocurrency. While competition between platforms like Optimism and Arbitrum, as well as ZK Sync and Scroll, will continue, the overall competition at the chain level will lessen as communities focus on expanding the market rather than fighting over a limited user base. Rollup revenue is projected to decline due to the increasing number of Rollups, the demand for sequencer revenue sharing, and the trend of application chains building their own chains instead of opting for L2 operations. Ethereum-based Rollups will gain more attention from the tech community, venture capitalists, and Ethereum enthusiasts as they are seen as key to resolving the debate over L2's parasitic relationship with L1. Application chain-based Rollups using the same pre-confirmation services or markets can achieve composability with each other and Ethereum L1, presenting a vast, untapped potential. Alternative virtual machines and next-generation virtual machine Rollups are set to rise, offering superior performance in transactions per second (TPS) and gas fees. Technologies like SVM, MoveVM, FuelVM, LinuxVM, and ZKVM will become more prevalent, hosting innovative applications. ZK Rollups are poised for a breakthrough, with their rapid performance improvements making them a significant player despite the dominance of optimistic Rollups in market perception and usage. The future of Ethereum and the modular ecosystem holds great promise.

According to Odaily, the Telegram-based game Hamster Kombat has made a statement on the X platform emphasizing its commitment to transparency within the Hamster ecosystem. The announcement comes in response to recent news involving Gotbit. Hamster Kombat clarified that it has never collaborated with Gotbit as a market maker.

According to Odaily, UniSat has announced on the X platform that the Fractal Bitcoin search feature has been updated. The new update now supports searches for .fb names, runes, and CAT20 tokens. This enhancement aims to improve user experience by providing more comprehensive search capabilities within the Fractal Bitcoin ecosystem. Users can now easily locate specific .fb names, explore various runes, and find CAT20 tokens, making the platform more versatile and user-friendly. The update reflects UniSat's commitment to continuously improving its services and adapting to the evolving needs of its users. By expanding the search functionality, UniSat hopes to facilitate better access to information and resources within the Fractal Bitcoin network.

According to Odaily, on-chain analyst Yu Jin has reported that Rune, the co-founder of Sky Ecosystem (formerly MakerDAO), has completed the sale of 25 million LDO tokens. The sale process spanned nearly three years, with the majority of the proceeds being used to purchase MKR tokens. The 25 million LDO tokens were sold at an average price of $1.87, resulting in a substantial profit of $46.73 million, which represents a 221-fold return. Out of the total proceeds, $30.02 million was used to repurchase 36,000 MKR tokens at an average price of $833 each.

According to PANews, official data reveals that Circle issued approximately 1.8 billion USDC and redeemed around 2.6 billion USDC in the seven days leading up to October 10. This resulted in a net decrease of 800 million USDC in circulation. The total circulation of USDC now stands at 34.6 billion, with reserves amounting to approximately 34.8 billion dollars. Of these reserves, about 3.7 billion dollars are held in cash, while the Circle Reserve Fund holds around 31 billion dollars.

On Oct 12, 2024, 10:46 AM(UTC). According to Binance Market Data, Bitcoin has crossed the 63,000 USDT benchmark and is now trading at 63,010.328125 USDT, with a narrowed 3.23% increase in 24 hours.