- Pi Network announced PiFest on October 29, aimed at incentivizing the use of Pi tokens in local commerce. Merchants will be able to list their stores on the "Map of Pi" for easy discovery.
- Bitcoin (BTC) has seen significant volatility over the past week, fluctuating between $65,500 and $68,500. The upcoming US elections could impact its price.
- Cat-themed tokens like POPCAT and MEW have seen significant gains, although MEW is down 17% from its peak.
- The Ethereum community has expressed concern over the Ethereum Foundation's sale of ETH. - Vitalik Buterin explained that the proceeds from the sale go to pay researchers and developers. - The sale also supports privacy technologies and user security.
**Support for Decentralization**
- The Foundation avoids staking to avoid making official decisions in the event of hard forks. - This helps maintain the decentralized nature of Ethereum.
Ripple (XRP) faced strong selling pressure near the key resistance zone at $0.55, where the 100-day and 200-day moving averages intersect.
This led to a sharp rejection and a subsequent price decline of 14%. The asset is now testing the support at $0.5, which may lead to consolidation.
The 4-hour chart shows the continuation of the downtrend. The price entered a significant support zone between the Fibonacci levels of 0.5 ($0.52) and 0.618 ($0.49). A break below the 0.618 level may lead to further decline to $0.46.
- The GameFi market is set to grow significantly, with a projected CAGR of 68%, according to analysts at Nansen. - The sector could reach $301.5 billion by 2030. - Role-playing games (RPGs) are particularly profitable in the GameFi ecosystem due to the decentralized ownership of game assets. - AAA and AA games are also gaining popularity, accounting for 6% of the sector. - Key metrics for GameFi’s success include low transaction fees, high throughput, and strong security. - OpBNB has the lowest average gas fee ($0.0001), followed by Ronin ($0.00179) and Polygon PoS ($0.00293). - OpBNB’s average throughput is 97 TPS, which is below the 10,000 TPS limit.
- Less than a year after their launch, spot Bitcoin ETFs have seen unprecedented growth, increasing investor interest and demand for the world’s largest cryptocurrency.
- According to a report from Binance Research, Bitcoin ETFs have accumulated over 938,000 BTC, representing 4.5% of the total circulating supply of Bitcoin. Including other funds, this figure reaches 1.1 million BTC, or about 5.2%.
- Spot Bitcoin ETFs have attracted $18.9 billion in recent months, removing an average of 1,100 BTC per day from the market. In 10 months, the funds have received more than $21 billion.
- BlackRock’s IBIT, Grayscale’s GBTC, and Fidelity’s FBTC make up about 84% of the ETF market. IBIT accounted for the bulk of the inflows.
- 80% of Bitcoin ETF demand comes from retail investors. Institutional demand is also growing, up 7.9% since Q1.
- Interest in Bitcoin ETFs among institutional investors is expected to increase in the coming years, especially given Bitcoin's growing correlation with the S&P 500.
- Unlike Bitcoin ETFs, their Ethereum counterparts have received little attention, recording $103.1 million in outflows since launch.
- A statue of Bitcoin creator Satoshi Nakamoto was unveiled at the third annual Plan ₿ forum in the Swiss city of Lugano. - The statue was created by artist Valentina Picozzi. It symbolizes Nakamoto's disappearance from public space. - Lugano Mayor Michele Foletti noted that the city is becoming a center of digital innovation. - Lugano residents can pay for services and taxes in bitcoins and other cryptocurrencies.
- Russian influencer Valeria Fedyakina, known as the "Crypto Queen," is accused of $22 million in fraud. - Fedyakina, also known as "Bitmama," allegedly ran a Ponzi scheme promising investors 1% returns. - Victims claim their funds were converted to cryptocurrency to circumvent sanctions. - Investigators have found that some of the funds may have been used to support the Ukrainian military. - Charges are expected to be formally filed in November.
- Bitcoin ends the week with a slight loss of about 2%, despite significant ETF inflows. Its market cap has fallen to $1.325 trillion. - Altcoins have shown more volatility, with most in the red. Ethereum has lost 6%, falling below $2,500. - Solana and Tron have stood out from the general decline, increasing by 8.5% and 6%, respectively. - Total cryptocurrency market cap has fallen by $60 billion, falling below $2.390 trillion.
- Spot Bitcoin ETFs attracted nearly $1 billion in inflows over the past five trading days last week. - Unlike Bitcoin, spot Ethereum ETFs ended the week with minor losses. - Bitcoin ETFs saw $294.3 million inflows on Monday and $402 million on Friday. - Total weekly inflows were $997.6 million. - Ethereum ETFs saw a net outflow of $24.6 million for the week. - Bitcoin is down 1.7% for the week, trading at $67,000. - Ethereum is down more than 6%, falling below $2,500.
Former ACCE Australia CEO Grant Colthup has been charged with fraud following an investigation by the Australian Securities and Investments Commission (ASIC).
- Colthup, accused of embezzling $1.47 million from a client, has appeared in court in Ipswich, Queensland. - ACCE operated a cryptocurrency trading platform under the brand "Mine Digital" from 2019 to 2022. - ASIC alleges that instead of delivering the bitcoin to the client, Colthup used the funds to cover ACCE's financial obligations and purchase cryptocurrency for other clients. - The maximum penalty under section 408C of the Queensland Criminal Code 1899 is 20 years in prison. The case has been adjourned until December 16, 2024. - ACCE went bankrupt in September 2022, leaving creditors with debts of about $16 million. - An investigation found financial inconsistencies and insufficient transaction records.
These events highlight the importance of transparency and accountability in the management of digital assets.
- According to a report from CryptoQuant, retail Bitcoin investors have increased their holdings by just 1,000 BTC in the last 30 days. - Total retail investor holdings have grown by 18,000 BTC since July, reaching 1.753 million BTC. - At the same time, large investors have increased their holdings by 173,000 BTC since the beginning of the year. - Retail BTC transfer activity has dropped to 1,400 BTC in 2024. - Analysts believe that low activity may precede a price increase.
- Bitcoin price plunged $3,000 in minutes on Friday night, but then recovered to $67,000. - Total cryptocurrency market cap fell $70 billion overnight. - Bitcoin fell to $65,500 on news of Tether investigation, but then partially recovered. - Altcoins suffered more: Ethereum, Binance Coin, Tron, Ripple, Bitcoin Cash, and Cardano fell 1-3.5%. - SOL, DOGE, TON, AVAX, LINK, and SHIB lost up to 5.3%. - TIA, APT, MEW, KAS, AR, GALA, and JASMY fell 9.5-14%. - Total cryptocurrency market cap is $2.37 trillion.
- Bitcoin and altcoins experienced significant volatility on Friday night following a controversial Wall Street Journal report that was immediately refuted by Tether CEO.
- The U.S. federal government has reportedly launched an investigation into the company behind the world's largest stablecoin for allegedly violating anti-money laundering and sanctions regulations.
- Tether CEO Paolo Ardoino said there was no sign of an investigation and called the WSJ article "a rehash of old rumors."
- BTC prices fell from $69,000 to $65,500 on the news, but have since partially recovered to $67,000.
- Total market liquidations reached $405 million in a day, with altcoins accounting for the bulk of that amount.
Meme coin MEW hits new high after surging 8% in last 24 hours.
- MEW, based on the Solana blockchain, has surged 85% in two weeks. - The price hit a new high of over $0.01, while the market cap has surpassed $1 billion. - MEW has become the 82nd largest cryptocurrency and the eighth largest meme coin. - Upbit's decision to list MEW/KRW has contributed to the rally. - Some analysts are predicting further gains, while others are warning of a possible correction due to FOMO.
EMURGO, which is driving Web3 on the Cardano blockchain, has announced a strategic partnership with BitcoinOS (BOS), the smart contract operating system for Bitcoin.
The goal is to provide Cardano DeFi users with access to $1.3 trillion in Bitcoin capital without intermediaries.
The first technical collaboration involves integrating the BOS Grail bridge into Cardano’s open infrastructure.
Cardano will be the first layer-1 blockchain network to leverage BOS’s scalability and programmability for Bitcoin.
EMURGO founder and CEO Ken Kodama noted that the partnership will open up new opportunities for cross-chain interactions and strengthen Cardano.
Meanwhile, ADA continues to trade below $0.35, having lost more than 11% over the past month.