BTC market share climbs to 49%, reaching a peak in more than two years
According to a report by The Block on October 22, according to Coingecko data, BTC's market share has increased to more than 49%, the highest level in more than two years.
BTC’s market dominance has steadily increased, from around 38% at the beginning of the year to 48.85% on October 21, its highest level since April 2021.
This rise in dominance can be attributed to the strong rebound in BTC prices over the past year, which has risen 81% since the beginning of the year.
Rebecca Stevens, a researcher at The Block, noted that the increase in dominance reflects the strength of cryptocurrencies in current market conditions, which have performed well for most of the week.
Inflation, geopolitical risks and an increasingly pro-democracy trend in the United States have been weighing on investors seeking lower-risk investments.
Meanwhile, BTC appears to be closer than ever to receiving approval for a spot ETF, which could serve as a hedge against uncertainty on the world stage and help it regain more dominance in the cryptocurrency space.
Lido's new proposal suggests stopping support for the Polygon network
The Lido community released a discussion proposal on October 19, suggesting the termination of staking services for MATIC.
According to the proposal, Lido paid out 1,538,500 LDO rewards on the Polygon network over the past year, worth $2.69 million. At the same time, the annual income for every 1% of MATIC staked is $41,991.
In addition, the proposal points out that Stader Labs is the only service provider providing LST on the Polygon network, and the market competition is relatively weak, while Polygon itself has factors such as development uncertainty and brand risk. #Lido
Uniswap founder destroyed 99.99% of HayCoin supply, causing HayCoin price to surge over 300%
As reported by The Block on Oct. 21, Uniswap founder Hayden Adams destroyed 99.99% of the HayCoin supply, following which the token’s value surged 307% to $2.5 million.
HayCoin is a test token launched by Adams in 2018.
Adams said on X that he felt uncomfortable with owning “almost the entire supply” and therefore decided to destroy the token supply.
Circle releases two Web3 products: Gas Station and smart contract platform
On October 19, Circle announced the launch of two Web3 service products on the X platform, namely Gas Station and Smart Contract Platform, which aim to provide solutions for developers and enterprises to simplify blockchain interactions.
Gas Station helps developers integrate Circle’s programmable $ package into their programs, thereby sponsoring gas fees for users and avoiding the cumbersome process of purchasing native tokens for gas management.
The smart contract platform aims to assist developers and enterprises in easily deploying smart contracts to increase customer engagement and loyalty to assets such as NFTs, embed DeFi experiences in applications, or facilitate Web3 payment experiences using digital $.
Worldcoin will use WLD tokens to pay rewards to Orb operators and continue to sign market maker loan agreements
According to an announcement on the Worldcoin blog on October 23, Orb operator rewards were paid in USDC during a transitional phase after Worldcoin launch. This transitional phase is about to end, when operators will receive rewards in the form of WLD tokens.
In addition, at the time of the official launch of WLD, World Assets Ltd. signed a Section D agreement with five market makers operating outside the United States. The participation of these entities is intended to ensure that WLD traded on centralized trading platforms outside the United States has sufficient liquidity to enhance the stability of WLD prices.
The five entities received a total loan of 100 million WLD, and the original loan agreement was due to expire on October 24, 2023. However, World Assets Ltd. decided to extend the initial loan agreement to December 15, 2023, while reducing the total amount of D by 75 million WLD, while keeping all other terms of the agreement unchanged. Therefore, on October 24, 2023, the market maker will return the currently outstanding 25 million WLD.
