LIVEBLOCKCHAIN NEWS
@BLOCKCHAIN_NEWS
A real-time news provider, sharing live updates on cryptocurrency price movements, events, and industry milestones.
Following
Followers
Liked
Shared
**News Flash: Sui Network's Rapid Rise in Blockchain**
The Sui network, launched in May 2023 by Mysten Labs, is making waves in the blockchain world. Founded by ex-Meta engineers from the Diem project, Sui aims to tackle scalability, speed, and cost issues. Its standout feature? Parallel transaction processing, which reduces validator coordination complexity, making it highly efficient and scalable.
Sui's object-centric model is perfect for dynamic assets like NFTs and DeFi applications. By September 2024, Sui boasts over 18 million active accounts and 4.58 billion transactions, highlighting its rapid adoption.
Key technologies include the Move programming language and a delegated proof-of-stake (DPoS) consensus mechanism, ensuring security and low latency. Sui's innovative approach allows it to handle up to 297,000 transactions per second, far surpassing other blockchains.
SUI, the network's native token, is used for staking, governance, and incentivizing participants. With a capped supply of 10 billion tokens, it supports the network's long-term growth and decentralization.
Sui's architecture supports various use cases, from DeFi platforms like DeepBook and Turbos Finance to gaming and supply chain management. Its zkLogin feature bridges Web2 and Web3, enhancing user onboarding.
Looking ahead, Sui plans to optimize its consensus mechanisms, expand its DeFi ecosystem, and explore AI integrations for decentralized applications. Stay tuned for more updates from this rapidly growing blockchain platform!
The Sui network, launched in May 2023 by Mysten Labs, is making waves in the blockchain world. Founded by ex-Meta engineers from the Diem project, Sui aims to tackle scalability, speed, and cost issues. Its standout feature? Parallel transaction processing, which reduces validator coordination complexity, making it highly efficient and scalable.
Sui's object-centric model is perfect for dynamic assets like NFTs and DeFi applications. By September 2024, Sui boasts over 18 million active accounts and 4.58 billion transactions, highlighting its rapid adoption.
Key technologies include the Move programming language and a delegated proof-of-stake (DPoS) consensus mechanism, ensuring security and low latency. Sui's innovative approach allows it to handle up to 297,000 transactions per second, far surpassing other blockchains.
SUI, the network's native token, is used for staking, governance, and incentivizing participants. With a capped supply of 10 billion tokens, it supports the network's long-term growth and decentralization.
Sui's architecture supports various use cases, from DeFi platforms like DeepBook and Turbos Finance to gaming and supply chain management. Its zkLogin feature bridges Web2 and Web3, enhancing user onboarding.
Looking ahead, Sui plans to optimize its consensus mechanisms, expand its DeFi ecosystem, and explore AI integrations for decentralized applications. Stay tuned for more updates from this rapidly growing blockchain platform!
**Tech Millionaire Bryan Johnson Talks Crypto and Longevity at Token2049**
Bryan Johnson, the tech entrepreneur who sold Braintree to PayPal for $800 million in 2013, revealed at Token2049 in Singapore that he could have dedicated his life to cryptocurrency if he hadn't become obsessed with anti-aging. Johnson, now known for his longevity pursuits, co-founded The Network School with ex-Coinbase CTO Balaji Srinivasan. The school aims to foster tech innovation and libertarian values in Malaysia's Forest City.
Johnson's passion for longevity aligns with the crypto community's interest in defeating aging. He believes that just as Bitcoin rejects inflation, his anti-aging efforts reject the inevitability of death.
Bryan Johnson, the tech entrepreneur who sold Braintree to PayPal for $800 million in 2013, revealed at Token2049 in Singapore that he could have dedicated his life to cryptocurrency if he hadn't become obsessed with anti-aging. Johnson, now known for his longevity pursuits, co-founded The Network School with ex-Coinbase CTO Balaji Srinivasan. The school aims to foster tech innovation and libertarian values in Malaysia's Forest City.
Johnson's passion for longevity aligns with the crypto community's interest in defeating aging. He believes that just as Bitcoin rejects inflation, his anti-aging efforts reject the inevitability of death.
**News Flash: Zetrix Launches Global Digital ID Service for Chinese Nationals**
Zetrix, a Malaysian blockchain platform, has introduced ZCert, an electronic Know Your Customer (eKYC) service for Chinese nationals abroad. This service leverages the Chinese state-run Xinghuo Blockchain Infrastructure and Facility (BIF) to publish official Digital Identities (IDs).
- **Global Reach**: Zetrix's integration with Xinghuo BIF, managed by the China Academy of Information and Communications Technology, enables this service.
- **Comprehensive Solution**: ZCert combines Chinese Digital ID with Malaysia's National ID and World ID, aiming to be the most extensive global Digital ID solution.
- **Future Expansion**: Plans include adding verification for other critical documents, such as Chinese driving licenses.
- **Self-Sovereign Identity**: Users can control which identity elements to disclose, ensuring data authenticity and security.
Zetrix's parent company, MY EG Services, has collaborated with the Malaysian government and Worldcoin to integrate advanced digital infrastructure. This move is part of a broader strategy to enhance cross-border services, including identity verification and supply-chain finance, across ASEAN countries.
Stay tuned for more updates on this evolving digital identity landscape.
Zetrix, a Malaysian blockchain platform, has introduced ZCert, an electronic Know Your Customer (eKYC) service for Chinese nationals abroad. This service leverages the Chinese state-run Xinghuo Blockchain Infrastructure and Facility (BIF) to publish official Digital Identities (IDs).
- **Global Reach**: Zetrix's integration with Xinghuo BIF, managed by the China Academy of Information and Communications Technology, enables this service.
- **Comprehensive Solution**: ZCert combines Chinese Digital ID with Malaysia's National ID and World ID, aiming to be the most extensive global Digital ID solution.
- **Future Expansion**: Plans include adding verification for other critical documents, such as Chinese driving licenses.
- **Self-Sovereign Identity**: Users can control which identity elements to disclose, ensuring data authenticity and security.
Zetrix's parent company, MY EG Services, has collaborated with the Malaysian government and Worldcoin to integrate advanced digital infrastructure. This move is part of a broader strategy to enhance cross-border services, including identity verification and supply-chain finance, across ASEAN countries.
Stay tuned for more updates on this evolving digital identity landscape.
**Investors Flock to Gold and Bitcoin Amid Rising Geopolitical Tensions**
Investors are increasingly turning to gold and Bitcoin as a hedge against potential economic turmoil, according to a recent JPMorgan report. The so-called "debasement trade" is gaining traction due to heightened geopolitical uncertainties and the upcoming U.S. election.
Key Points:
- Rising geopolitical tensions and the U.S. election are driving demand for gold and Bitcoin.
- The "debasement trade" is fueled by long-term inflation concerns and high government deficits.
- Institutional interest in BTC futures on the CME has surged, with contracts rising from 10,000 to 40,000 since the start of 2024.
- Retail investors are also showing renewed interest in Bitcoin ETFs, which saw significant inflows in September.
- The SEC approved spot BTC and Ether ETFs earlier this year, further boosting market confidence.
- A potential Trump victory in the November elections could amplify this trend, given his pro-crypto stance and promises to overhaul SEC leadership.
Stay tuned for more updates on how these trends will shape the financial landscape.
Investors are increasingly turning to gold and Bitcoin as a hedge against potential economic turmoil, according to a recent JPMorgan report. The so-called "debasement trade" is gaining traction due to heightened geopolitical uncertainties and the upcoming U.S. election.
Key Points:
- Rising geopolitical tensions and the U.S. election are driving demand for gold and Bitcoin.
- The "debasement trade" is fueled by long-term inflation concerns and high government deficits.
- Institutional interest in BTC futures on the CME has surged, with contracts rising from 10,000 to 40,000 since the start of 2024.
- Retail investors are also showing renewed interest in Bitcoin ETFs, which saw significant inflows in September.
- The SEC approved spot BTC and Ether ETFs earlier this year, further boosting market confidence.
- A potential Trump victory in the November elections could amplify this trend, given his pro-crypto stance and promises to overhaul SEC leadership.
Stay tuned for more updates on how these trends will shape the financial landscape.
**Bitcoin Faces Turbulent Week Amid Geopolitical Tensions**
Bitcoin (BTC) has experienced a sharp decline, dropping $6,000 from Sept. 29 to Oct. 3, hitting a two-week low of $59,860. Analysts attribute the sell-off to geopolitical tensions in the Middle East and weakening US economic data.
Key support levels, including the 50-day and 100-day exponential moving averages (EMAs), have been breached, signaling potential further declines. Analyst AlphaBTC suggests keeping reserves for a deeper drop, with short-term targets between $57,500 and $61,300.
Other experts predict possible corrections down to $52,000 if the $60,000 support fails. The 200-day EMA at $59,890 is seen as the last defense line, crucial for avoiding deeper losses.
Investors are advised to stay cautious and conduct their own research before making trading decisions.
Bitcoin (BTC) has experienced a sharp decline, dropping $6,000 from Sept. 29 to Oct. 3, hitting a two-week low of $59,860. Analysts attribute the sell-off to geopolitical tensions in the Middle East and weakening US economic data.
Key support levels, including the 50-day and 100-day exponential moving averages (EMAs), have been breached, signaling potential further declines. Analyst AlphaBTC suggests keeping reserves for a deeper drop, with short-term targets between $57,500 and $61,300.
Other experts predict possible corrections down to $52,000 if the $60,000 support fails. The 200-day EMA at $59,890 is seen as the last defense line, crucial for avoiding deeper losses.
Investors are advised to stay cautious and conduct their own research before making trading decisions.
Curious about Bitcoin's mysterious creator? HBO and filmmaker Cullen Hoback are set to release "Money Electric: The Bitcoin Mystery" on Oct. 8. Known for his work on "Q: Into the Storm," Hoback now dives into the enigma of Satoshi Nakamoto, the elusive figure behind Bitcoin.
While Hoback teases a thrilling journey, he stops short of confirming Nakamoto's identity. The film hints at various possibilities, leaving viewers on the edge of their seats. Could this documentary finally unveil the person or group behind Bitcoin? Tune in next Tuesday to find out!
While Hoback teases a thrilling journey, he stops short of confirming Nakamoto's identity. The film hints at various possibilities, leaving viewers on the edge of their seats. Could this documentary finally unveil the person or group behind Bitcoin? Tune in next Tuesday to find out!
**Mark Cuban Criticizes Memecoins on Rug Radio Podcast**
Investor Mark Cuban recently shared his thoughts on the crypto industry during an appearance on the Rug Radio podcast. Cuban labeled all memecoins as "drawn-out rug pulls" with no real-world utility, likening meme trading to a game of "musical chairs" and roulette. He argued that while memecoins may have strong communities, they lack staying power and are driven by the Greater Fool Theory, where investors hope to sell overvalued assets to others at a profit.
Despite his skepticism, Cuban admitted to occasionally considering trading memecoins but has always refrained from doing so.
In related news, 381,401 new memecoins were created on the Solana network in the last 30 days, many of which lose significant value shortly after launch. However, some memecoins, like PEPE and Dogwifhat (WIF), have seen temporary gains, although these gains often don't last.
Investor Mark Cuban recently shared his thoughts on the crypto industry during an appearance on the Rug Radio podcast. Cuban labeled all memecoins as "drawn-out rug pulls" with no real-world utility, likening meme trading to a game of "musical chairs" and roulette. He argued that while memecoins may have strong communities, they lack staying power and are driven by the Greater Fool Theory, where investors hope to sell overvalued assets to others at a profit.
Despite his skepticism, Cuban admitted to occasionally considering trading memecoins but has always refrained from doing so.
In related news, 381,401 new memecoins were created on the Solana network in the last 30 days, many of which lose significant value shortly after launch. However, some memecoins, like PEPE and Dogwifhat (WIF), have seen temporary gains, although these gains often don't last.
**PayPal Completes First Payment Using PYUSD Stablecoin**
PayPal has made waves in the fintech world by completing its first business payment using its own USD-pegged stablecoin, PYUSD. The transaction, reported by Bloomberg on Oct. 3, was made to Ernst & Young via SAPâs digital currency hub. While the invoice amount remains undisclosed, this move showcases the potential of stablecoins for instant corporate payments.
Launched in August 2023, PYUSD is backed by US dollar deposits and short-term US Treasurys, boasting a market cap of $699 million. This positions it as the eighth-largest stablecoin, according to DefiLlama.
Stablecoins, pegged to fiat currencies like the US dollar, offer stability, making them ideal for everyday transactions. PayPalâs senior VP of blockchain, Jose Fernandez da Ponte, emphasized the suitability of stablecoins in corporate environments.
In a bid to expand its digital asset capabilities, PayPal recently allowed US business users (excluding New York) to buy, sell, and trade crypto directly from their accounts. The stablecoin market is seeing increased interest, with companies like Robinhood and Revolut eyeing their own stablecoin launches.
Currently, Tetherâs USDT leads the stablecoin market with a $119.7 billion market cap, followed by USD Coin (USDC) at $35.3 billion. As regulations like the EUâs MiCA come into play, the stablecoin landscape is set for significant changes.
PayPal has made waves in the fintech world by completing its first business payment using its own USD-pegged stablecoin, PYUSD. The transaction, reported by Bloomberg on Oct. 3, was made to Ernst & Young via SAPâs digital currency hub. While the invoice amount remains undisclosed, this move showcases the potential of stablecoins for instant corporate payments.
Launched in August 2023, PYUSD is backed by US dollar deposits and short-term US Treasurys, boasting a market cap of $699 million. This positions it as the eighth-largest stablecoin, according to DefiLlama.
Stablecoins, pegged to fiat currencies like the US dollar, offer stability, making them ideal for everyday transactions. PayPalâs senior VP of blockchain, Jose Fernandez da Ponte, emphasized the suitability of stablecoins in corporate environments.
In a bid to expand its digital asset capabilities, PayPal recently allowed US business users (excluding New York) to buy, sell, and trade crypto directly from their accounts. The stablecoin market is seeing increased interest, with companies like Robinhood and Revolut eyeing their own stablecoin launches.
Currently, Tetherâs USDT leads the stablecoin market with a $119.7 billion market cap, followed by USD Coin (USDC) at $35.3 billion. As regulations like the EUâs MiCA come into play, the stablecoin landscape is set for significant changes.
**Ether Price Dips Amid Market Uncertainty**
Ether (ETH) saw a 12% drop from Oct. 1 to Oct. 3, failing to break the $2,650 resistance level. This decline erased gains from the prior two weeks, leaving traders questioning if ETH can bounce back to $2,800.
Despite a 5% drop in ETH since Sept. 1, the overall crypto market cap grew by 1.4%. The much-anticipated Ether ETF launched in July underperformed, with net outflows of $552 million.
Factors like sell pressure from Vitalik Buterin, reduced DApp demand, and strategic changes have kept ETH below $2,800. However, Ethereum's network activity remains strong, with significant increases in trading volumes and active addresses.
For ETH to reclaim $2,800, balancing scalability and investor incentives is key.
Ether (ETH) saw a 12% drop from Oct. 1 to Oct. 3, failing to break the $2,650 resistance level. This decline erased gains from the prior two weeks, leaving traders questioning if ETH can bounce back to $2,800.
Despite a 5% drop in ETH since Sept. 1, the overall crypto market cap grew by 1.4%. The much-anticipated Ether ETF launched in July underperformed, with net outflows of $552 million.
Factors like sell pressure from Vitalik Buterin, reduced DApp demand, and strategic changes have kept ETH below $2,800. However, Ethereum's network activity remains strong, with significant increases in trading volumes and active addresses.
For ETH to reclaim $2,800, balancing scalability and investor incentives is key.
**News Flash: CFTC May Approve Digital Assets as Trading Collateral by Year-End**
The U.S. Commodity Futures Trading Commission (CFTC) could greenlight the use of digital assets as trading collateral by the end of the year. A subcommittee of the CFTCâs Global Markets Advisory Committee has recommended a proposal to allow digital ledger technology-based collateral in commodities and derivatives trading.
If approved, traders could use digital assets like BlackRockâs USD Institutional Digital Liquidity Fund (BUIDL) token to settle transactions swiftly. This move could mainstream the use of blockchain-based assets in trading, which is currently limited to big players like BlackRock and JP Morgan.
However, the main committee still needs to approve the subcommitteeâs recommendation before it goes to the CFTC. Thereâs no certainty the proposal will pass or if restrictions will be placed on which institutes and blockchains can participate.
In related news, spot Bitcoin ETFs saw strong inflows in September, with BlackRockâs fund leading the pack. This trend underscores the growing acceptance of digital assets in traditional finance and could influence the CFTCâs decision.
The U.S. Commodity Futures Trading Commission (CFTC) could greenlight the use of digital assets as trading collateral by the end of the year. A subcommittee of the CFTCâs Global Markets Advisory Committee has recommended a proposal to allow digital ledger technology-based collateral in commodities and derivatives trading.
If approved, traders could use digital assets like BlackRockâs USD Institutional Digital Liquidity Fund (BUIDL) token to settle transactions swiftly. This move could mainstream the use of blockchain-based assets in trading, which is currently limited to big players like BlackRock and JP Morgan.
However, the main committee still needs to approve the subcommitteeâs recommendation before it goes to the CFTC. Thereâs no certainty the proposal will pass or if restrictions will be placed on which institutes and blockchains can participate.
In related news, spot Bitcoin ETFs saw strong inflows in September, with BlackRockâs fund leading the pack. This trend underscores the growing acceptance of digital assets in traditional finance and could influence the CFTCâs decision.
**IMF Urges El Salvador to Rethink Bitcoin Policies**
In an Oct. 3 press conference, the International Monetary Fund (IMF) renewed its call for El Salvador to scale back its Bitcoin policies. Julie Kozack, IMF's communications director, emphasized the need to narrow the scope of the Bitcoin law, strengthen regulatory frameworks, and limit public sector exposure to Bitcoin.
Since El Salvador adopted Bitcoin as legal tender in 2021, the IMF has consistently urged the country to revert to traditional financial systems. Despite these pressures, many of the risks associated with Bitcoin adoption have yet to materialize.
The IMF remains critical of Bitcoin, advocating for central bank digital currencies (CBDCs) instead. In September, the IMF introduced the REDI framework to support CBDC development, focusing on regulation, education, design, and incentives.
In an Oct. 3 press conference, the International Monetary Fund (IMF) renewed its call for El Salvador to scale back its Bitcoin policies. Julie Kozack, IMF's communications director, emphasized the need to narrow the scope of the Bitcoin law, strengthen regulatory frameworks, and limit public sector exposure to Bitcoin.
Since El Salvador adopted Bitcoin as legal tender in 2021, the IMF has consistently urged the country to revert to traditional financial systems. Despite these pressures, many of the risks associated with Bitcoin adoption have yet to materialize.
The IMF remains critical of Bitcoin, advocating for central bank digital currencies (CBDCs) instead. In September, the IMF introduced the REDI framework to support CBDC development, focusing on regulation, education, design, and incentives.
**Bitcoin Bounces Back: Onchain Metrics Signal Potential Shift**
Bitcoin has made a notable recovery, climbing to $66,000 after dipping below $60,000 earlier this week. This marks the first higher high since its March peak of $73,835. Glassnode analysts suggest that Bitcoin might be nearing a significant phase shift, with its recent price action mirroring past cycles from 2015-16 and 2019-20.
Key insights include:
- A 26.5% rally from a low of $52,550 on Sept. 6 to a three-month high.
- Long-term holders (LTHs) are increasing their positions, a bullish signal.
- The long/short-term holder supply ratio is at its highest since June 2021.
- Short-term holders (STHs) are seeing improved profitability, with 62% of their supply now in profit.
These metrics indicate that Bitcoin investors are in a stronger position, making this a pivotal moment for BTC.
Bitcoin has made a notable recovery, climbing to $66,000 after dipping below $60,000 earlier this week. This marks the first higher high since its March peak of $73,835. Glassnode analysts suggest that Bitcoin might be nearing a significant phase shift, with its recent price action mirroring past cycles from 2015-16 and 2019-20.
Key insights include:
- A 26.5% rally from a low of $52,550 on Sept. 6 to a three-month high.
- Long-term holders (LTHs) are increasing their positions, a bullish signal.
- The long/short-term holder supply ratio is at its highest since June 2021.
- Short-term holders (STHs) are seeing improved profitability, with 62% of their supply now in profit.
These metrics indicate that Bitcoin investors are in a stronger position, making this a pivotal moment for BTC.
**News Flash: Kraken Launches Derivatives Platform in Bermuda**
Kraken, a major cryptocurrency exchange, has launched a new derivatives trading platform in Bermuda after securing a Class F Digital Business License from the Bermuda Monetary Authority (BMA). This move follows similar expansions by Coinbase International and HashKey Global.
- **Offerings**: The platform features over 200 contracts, including perpetual and fixed maturity futures, with collateral options in fiat and 30+ cryptocurrencies.
- **Regulatory Environment**: Bermuda's pro-crypto stance, led by Premier E. David Burt, has attracted numerous crypto firms. The BMA's rigorous yet fair licensing process ensures consumer protection and business transparency.
- **Market Impact**: Kraken anticipates significant growth in derivative trading volumes, aligning with the broader market trend.
Eligible customers can now access Kraken's new platform, though specific jurisdictions were not disclosed.
Kraken, a major cryptocurrency exchange, has launched a new derivatives trading platform in Bermuda after securing a Class F Digital Business License from the Bermuda Monetary Authority (BMA). This move follows similar expansions by Coinbase International and HashKey Global.
- **Offerings**: The platform features over 200 contracts, including perpetual and fixed maturity futures, with collateral options in fiat and 30+ cryptocurrencies.
- **Regulatory Environment**: Bermuda's pro-crypto stance, led by Premier E. David Burt, has attracted numerous crypto firms. The BMA's rigorous yet fair licensing process ensures consumer protection and business transparency.
- **Market Impact**: Kraken anticipates significant growth in derivative trading volumes, aligning with the broader market trend.
Eligible customers can now access Kraken's new platform, though specific jurisdictions were not disclosed.
**Meta Unveils Hyperscape: A Glimpse into the Future of Telepresence**
Meta is pushing the boundaries of the metaverse with its latest tech, Hyperscape. Revealed at the recent "Connect" event, Hyperscape transforms photos into real-time 3D environments, potentially revolutionizing remote work and telepresence.
- **Orion Smart Glasses:** CEO Mark Zuckerberg also introduced Orion smart glasses, offering a seamless heads-up display that integrates digital info with the physical world.
- **Hyperscape Demo:** Users can scan areas with a phone camera, converting them into navigable digital spaces. A demo with Metaâs Quest 3 VR headset was likened to Star Trek's "Holodeck."
- **Future Potential:** Future versions could enable real-time rendering of any environment, enhancing virtual meetings and social interactions. This tech could bridge Web3 and reality, making the metaverse more immersive and socially engaging.
Stay tuned as Meta continues to innovate in the VR and Web3 space!
Meta is pushing the boundaries of the metaverse with its latest tech, Hyperscape. Revealed at the recent "Connect" event, Hyperscape transforms photos into real-time 3D environments, potentially revolutionizing remote work and telepresence.
- **Orion Smart Glasses:** CEO Mark Zuckerberg also introduced Orion smart glasses, offering a seamless heads-up display that integrates digital info with the physical world.
- **Hyperscape Demo:** Users can scan areas with a phone camera, converting them into navigable digital spaces. A demo with Metaâs Quest 3 VR headset was likened to Star Trek's "Holodeck."
- **Future Potential:** Future versions could enable real-time rendering of any environment, enhancing virtual meetings and social interactions. This tech could bridge Web3 and reality, making the metaverse more immersive and socially engaging.
Stay tuned as Meta continues to innovate in the VR and Web3 space!
**Crypto Trading Volumes Dip in September, Binance Leads Despite Slump**
Global crypto exchange Binance saw a notable drop in trading activity last month. According to a CCData report, Binance's derivatives trading volume fell 21% to $1.25 trillion, its lowest since October 2023. Spot trading also took a hit, dropping 22.9% to $344 billion, marking the lowest since November 2023. Consequently, Binance's market share in derivatives and spot trading slipped to 40.7% and 27%, respectively.
However, Binance still leads the global spot trade market among centralized exchanges (CEXs). Meanwhile, Crypto.com gained traction, with its spot and derivatives volumes rising over 40%, making it the fourth-largest exchange by volume.
Overall, the total trading volume on centralized exchanges fell by 17% to $4.34 trillion, the lowest since June. Analysts expect trading activity to pick up as the US Federal Reserve's rate cuts boost liquidity and capital flows into cryptocurrencies.
Global crypto exchange Binance saw a notable drop in trading activity last month. According to a CCData report, Binance's derivatives trading volume fell 21% to $1.25 trillion, its lowest since October 2023. Spot trading also took a hit, dropping 22.9% to $344 billion, marking the lowest since November 2023. Consequently, Binance's market share in derivatives and spot trading slipped to 40.7% and 27%, respectively.
However, Binance still leads the global spot trade market among centralized exchanges (CEXs). Meanwhile, Crypto.com gained traction, with its spot and derivatives volumes rising over 40%, making it the fourth-largest exchange by volume.
Overall, the total trading volume on centralized exchanges fell by 17% to $4.34 trillion, the lowest since June. Analysts expect trading activity to pick up as the US Federal Reserve's rate cuts boost liquidity and capital flows into cryptocurrencies.
**Bitcoin's Rocky Start in October: What Traders Are Saying**
October is usually a strong month for Bitcoin, often called "Uptober," but this year is off to a rough start. Bitcoin and Ether have both seen declines since October 1st, with Bitcoin dropping 5.6% and Ether 11.4%.
Trader Oliver Velez and Cane Island Alternative Advisors' Timothy Peterson suggest patience. They argue that the real gains typically come in the second half of the month. Velez believes the early weakness might set the stage for a stronger market push later.
Despite the slow start, some traders remain optimistic, noting that Bitcoin performed better than expected in September. Stay tuned, as the latter part of October could still bring bullish trends.
October is usually a strong month for Bitcoin, often called "Uptober," but this year is off to a rough start. Bitcoin and Ether have both seen declines since October 1st, with Bitcoin dropping 5.6% and Ether 11.4%.
Trader Oliver Velez and Cane Island Alternative Advisors' Timothy Peterson suggest patience. They argue that the real gains typically come in the second half of the month. Velez believes the early weakness might set the stage for a stronger market push later.
Despite the slow start, some traders remain optimistic, noting that Bitcoin performed better than expected in September. Stay tuned, as the latter part of October could still bring bullish trends.
Grayscale Investments has unveiled a new investment fund for Aaveâs governance token, AAVE, as of October 3. This fund, named the Grayscale Aave Trust, offers qualified investors a chance to gain exposure to AAVE. This addition expands Grayscaleâs portfolio of single-asset crypto investment products, which recently included trusts for Sky, Bittensor, and Sui tokens.
Aave, a leading decentralized finance (DeFi) platform, facilitates transparent borrowing and lending through smart contracts. With nearly $12 billion in total value locked, Aave is a major player in the DeFi space. The AAVE token has surged over 110% in the past year.
Grayscale, the largest crypto fund manager with $21 billion in assets, is known for its Bitcoin and Ether ETFs. The firm also manages private funds for other tokens like BAT and LINK. Grayscaleâs head of product and research, Rayhaneh Sharif-Askary, emphasized Aaveâs role in optimizing lending and borrowing by eliminating intermediaries.
Looking ahead, Grayscaleâs global head of ETFs, Dave LaValle, anticipates growth in the cryptocurrency ETF market, with more single-asset and diversified products on the horizon.
Aave, a leading decentralized finance (DeFi) platform, facilitates transparent borrowing and lending through smart contracts. With nearly $12 billion in total value locked, Aave is a major player in the DeFi space. The AAVE token has surged over 110% in the past year.
Grayscale, the largest crypto fund manager with $21 billion in assets, is known for its Bitcoin and Ether ETFs. The firm also manages private funds for other tokens like BAT and LINK. Grayscaleâs head of product and research, Rayhaneh Sharif-Askary, emphasized Aaveâs role in optimizing lending and borrowing by eliminating intermediaries.
Looking ahead, Grayscaleâs global head of ETFs, Dave LaValle, anticipates growth in the cryptocurrency ETF market, with more single-asset and diversified products on the horizon.
**Bitcoin Dips Below $60K Amid Market Uncertainty**
Bitcoin (BTC) briefly fell below $60,000 on Oct. 3, sparking a flurry of buying activity. Data from Cointelegraph Markets Pro and TradingView showed BTC hitting a low of $59,860 on Bitstamp. The dip comes amid geopolitical tensions in the Middle East, adding pressure to the crypto market.
Traders are divided on BTC's next move. Analyst Toni Ghinea predicts a drop to $56,000, while CrypNuevo sees potential for a rebound after hitting stop-losses around $59,000.
On-chain data from CryptoQuant indicates significant Bitcoin outflows from exchanges, suggesting strong buyer interest. Meanwhile, U.S. jobless claims data showed a stable labor market, which could support risk assets like crypto. QCP Capital remains optimistic, expecting Bitcoin to recover and continue its "Uptober" rally.
Bitcoin (BTC) briefly fell below $60,000 on Oct. 3, sparking a flurry of buying activity. Data from Cointelegraph Markets Pro and TradingView showed BTC hitting a low of $59,860 on Bitstamp. The dip comes amid geopolitical tensions in the Middle East, adding pressure to the crypto market.
Traders are divided on BTC's next move. Analyst Toni Ghinea predicts a drop to $56,000, while CrypNuevo sees potential for a rebound after hitting stop-losses around $59,000.
On-chain data from CryptoQuant indicates significant Bitcoin outflows from exchanges, suggesting strong buyer interest. Meanwhile, U.S. jobless claims data showed a stable labor market, which could support risk assets like crypto. QCP Capital remains optimistic, expecting Bitcoin to recover and continue its "Uptober" rally.
**Ripple Teams Up with Mercado Bitcoin for Cross-Border Payments in Brazil**
Ripple has announced a partnership with Brazilian crypto exchange Mercado Bitcoin to launch a new cross-border payment solution. This tool aims to provide faster, cheaper, and more efficient international transactions for businesses in Brazil, available 24/7 and settling payments in minutes.
Initially, the service will target institutional clients, facilitating transactions between Mercado Bitcoin in Brazil and its counterpart in Portugal. The solution leverages Rippleâs end-to-end payment management, introduced in 2023, to streamline internal treasury operations.
Mercado Bitcoin, a major player in Latin America's crypto scene with 4 million users, has previously collaborated with Mastercard on various projects. This new partnership with Ripple is seen as a step towards internationalizing Mercado Bitcoinâs services and enhancing its product portfolio.
The exchange plans to extend the service to corporate and retail customers in the future, offering a seamless experience by allowing payments directly in Brazilian Reais. Ripple has yet to comment on the upcoming tool.
Ripple has announced a partnership with Brazilian crypto exchange Mercado Bitcoin to launch a new cross-border payment solution. This tool aims to provide faster, cheaper, and more efficient international transactions for businesses in Brazil, available 24/7 and settling payments in minutes.
Initially, the service will target institutional clients, facilitating transactions between Mercado Bitcoin in Brazil and its counterpart in Portugal. The solution leverages Rippleâs end-to-end payment management, introduced in 2023, to streamline internal treasury operations.
Mercado Bitcoin, a major player in Latin America's crypto scene with 4 million users, has previously collaborated with Mastercard on various projects. This new partnership with Ripple is seen as a step towards internationalizing Mercado Bitcoinâs services and enhancing its product portfolio.
The exchange plans to extend the service to corporate and retail customers in the future, offering a seamless experience by allowing payments directly in Brazilian Reais. Ripple has yet to comment on the upcoming tool.
**News Flash: Itheum Revolutionizes AI Data Sharing with Blockchain**
Itheum is tackling one of AI's biggest hurdles: access to quality data. By leveraging blockchain, Itheum transforms data into tradable assets via data NFTs. These tokens ensure secure, transparent data transactions, making it easier for AI developers to access diverse data sets.
Key innovations include Data Coalition DAOs, which aggregate data from various sources, and privacy-preserving tech like zero-knowledge proofs. Itheum's omnichain infrastructure supports multiple blockchains, enhancing data interoperability. With a focus on gaming, music, and AI creator economies, Itheum aims to redefine data sharing and monetization.
Itheum is tackling one of AI's biggest hurdles: access to quality data. By leveraging blockchain, Itheum transforms data into tradable assets via data NFTs. These tokens ensure secure, transparent data transactions, making it easier for AI developers to access diverse data sets.
Key innovations include Data Coalition DAOs, which aggregate data from various sources, and privacy-preserving tech like zero-knowledge proofs. Itheum's omnichain infrastructure supports multiple blockchains, enhancing data interoperability. With a focus on gaming, music, and AI creator economies, Itheum aims to redefine data sharing and monetization.
Explore the latest crypto news
âĄïž Be a part of the latests discussions in crypto
đŹ Interact with your favorite creators
đ Enjoy content that interests you
Email / Phone number
Trending Topics
BinanceTurns7
1.7M views
1,723 Posts
#BinanceTurns7 Come celebrate 7 years of Binance with us to unlock digital badges and win some exclusive 7YA swag!Â
Task 1: Share Your Binance Birthday Wishes to Unlock the Basic 7YA Digital Badge
- Complete the setup of your Binance Square profile (e.g., username, profile, biography) and follow this account @Binance_Square_Official during the Activity Period.Â
- Comment on this Binance Square official post with your Binance birthday wishes, and ensure that your post includes the #BinanceTurns7 hashtag to unlock the basic 7YA digital badge.Â
Task 2: Post Your Favorite Binance Memories to Unlock the Upgraded 7YA Digital Badge & Binance 7YA Merch
- Users who successfully complete Task 1 may receive an upgraded version of the 7YA Digital Badge by sharing their fondest memories with Binance in a new Binance Square post that mentions the #BinanceTurns7 hashtag during the Activity Period.Â
- On top of that, the top seven participants with the highest total number of engagements (i.e., likes, shares, comments, quotes) for a qualified post in Task 2 during the Activity Period, will each receive one set of Binance 7YA merch.Â
Terms and conditions:Â
- 7YA digital badges will appear next to the profiles of qualified participants within four working days after the promotion ends.Â
- Winners of 7YA merch will be notified via a push notification under Creator Center > Square Assistant, within four weeks after the promotion ends.Â
- Users should complete the required instructions within the timeframe stipulated in the push notification to successfully receive merch rewards. Please note that winners should provide a valid shipping address, and will be responsible for any taxes, if applicable.Â
- No refunds or cash equivalent value of the rewards will be granted.
Activity Period: 2024-07-05 12:00 (UTC) to 2024-07-10 11:59 (UTC)
Binance Square Official
1.2k Likes
52.9k views
