Headlines
▌Bitcoin rose 7.35% in September, the best September performance in history
Bitcoin rose 7.35% in September, its best September performance in history.
▌An address holding 41 BTC was activated after 10.7 years of dormancy
According to the on-chain data tracking service WhaleAlert, a dormant address containing 41 BTC (US$2,611,481) was activated after 10.7 years at around 07:03 Beijing time today.
Quotes
As of press time, according to Coingecko data:
BTC's latest transaction price is $63,450.65, with a daily change of -2.7%;
ETH's latest transaction price is $2,621.65, with a daily change of -0.6%;
BNB's latest transaction price is $571.99, with a daily change of -2.3%;
SOL's latest trading price is $154.16, with a daily change of -2.7%;
DOGE's latest transaction price is 0.1163 yuan, with a daily change of -5.8%;
XPR’s most recent trading price was $0.6189, with a daily change of -4.0%.
policy
▌TD Cowen: It is unlikely that US cryptocurrency legislation will be passed before the end of the year
Jaret Seiberg of TD Cowen's Washington research team said in a report on Monday that there is little chance of progress in cryptocurrency legislation before 2024. U.S. lawmakers are currently in recess and will not reconvene until after the election, leaving only the transition period after the election to pass bills. Although the possibility of passing the stablecoin bill is high, Congress still needs to prioritize the government funding bill and the National Defense Authorization Act. In addition, the election of Sherrod Brown, chairman of the Senate Banking Committee, has also added uncertainty to crypto legislation.
▌FTX Releases Update on Proposed Settlement for Preferred Shareholders
FTX Official disclosed on the X platform that FTX creditors are providing updates on the proposed settlement with preferred shareholders. FTX will return 100% of the assets under its control to creditors under the Chapter 11 plan. The Department of Justice is responsible for controlling the distribution of assets confiscated through criminal cases and has made it clear that preferred shareholders are victims just like creditors under criminal law. FTX and preferred shareholders have competing claims for the proceeds of confiscation. While the Department of Justice will decide how to reconcile these competing claims, if the Department of Justice accepts the settlement, FTX believes that the plan is fair to both parties and avoids a protracted dispute. In this settlement, FTX asked the Department of Justice to agree to a centralized distribution process through the FTX Ch. 11 plan to speed up distributions to creditors and avoid a lot of redundant expenses.
Blockchain Applications
Coinbase to add proof of reserves for cbBTC
According to Cointelegraph, Coinbase will add proof of reserves to the wrapped Bitcoin (BTC) token cbBTC, aiming to allay concerns about Coinbase’s lack of transparency.
▌Base Protocol Head Will Also Lead Coinbase Wallet
Jesse Pollak, head of the Base protocol, said in a post on the X platform that in addition to leading the Base team, he will also lead Coinbase Wallet and join the Coinbase executive team. Base will continue to adhere to the core values of serving everyone, being a bridge rather than an island, decentralization and open source. Coinbase Wallet will continue to play a role in the entire on-chain economy and will begin to reflect other Base values in more ways.
Cryptocurrency
▌Justin Sun received 5,374,267 EIGEN through 6 addresses 14 hours ago
According to the monitoring of on-chain analyst Yu Jin, the leader of the re-staking track, EigenLayer (EIGEN), will be listed on major CEXs at 1 pm today, and ETH deposit whales such as Justin Sun will also have a harvest time. Justin Sun received 5,374,267 EIGEN through 6 addresses last night (14 hours ago), which is worth up to 21.49 million USDT at the current over-the-counter price of 4 USDT.
▌Approximately $120 million worth of SUI will be unlocked today, accounting for 0.642% of the total supply
Today, 4 crypto projects unlocked tokens: SUI unlocked about 64.19 million (about 120 million US dollars), accounting for about 0.642% of the total supply, the current circulation is 2.75 billion, and the total is 10.0 billion; ZETA unlocked about 53.88 million (about 36.52 million US dollars), accounting for about 2.566% of the total supply, the current circulation is 450 million, and the total is 2.1 billion; MAV unlocked about 36.4 million (about 7.94 million US dollars), accounting for about 1.82% of the total supply, the current circulation is 450 million, and the total is 2.0 billion; GAL unlocked about 2 million (about 4.5 million US dollars), accounting for about 1.0% of the total supply, the current circulation is 130 million, and the total is 200 million; If the unlocked tokens flow into the market, or there is a tendency to sell, please pay attention to the market changes after the tokens are unlocked.
▌BlackRock executive: Ethereum ETF's performance so far is "disappointing" compared to Bitcoin ETF
According to Fortune, BlackRock's recently launched Ethereum ETF has seen much lower trading volume and inflows than its Bitcoin ETF, and the company's head of digital assets, Robert Mitchnick, doesn't expect this to change anytime soon. At the Messari Mainnet Conference in New York, Mitchnick admitted that BlackRock's Ethereum exchange-traded fund (ETHA) has so far performed "disappointingly" compared to its Bitcoin ETF. But he urged the audience to compare ETHA to ETFs: "It's very rare for an ETF to reach $1 billion in AUM in seven weeks, as ETHA has. In most cases, it takes years for new ETFs to reach $1 billion."
▌CleanSpark restores 200MW of mining power
Bitcoin mining company CleanSpark shut down its 365MW facility in Georgia due to Hurricane Helene. It has now restored 200MW and is expected to fully recover on October 4. The company said the hash rate has reached 22 EH/s and will reach 28 EH/s after full recovery. The hurricane has killed 128 people and left more than 2 million people without power. CleanSpark expressed condolences to the affected communities.
Important economic developments
▌The US dollar index DXY rose to an intraday high of 100.91
The US dollar index DXY continued to rise in the short term and has now risen to an intraday high of 100.91.
▌The three major U.S. stock indexes closed higher
The three major U.S. stock indexes closed higher, with the Dow Jones Industrial Average up 0.04%, the Nasdaq up 0.38%, and the S&P 500 up 0.42%. Most of the popular technology stocks rose.
▌The probability of the Federal Reserve cutting interest rates by 25BP in November has risen to 62.9%
According to CME's "Fed Watch", the probability of the Fed cutting interest rates by 25 basis points by November is 62.9%, and the probability of cutting interest rates by 50 basis points is 37.1%. The probability of a cumulative rate cut of 50 basis points by December is 36.7%, the probability of a cumulative rate cut of 75 basis points is 47.9%, and the probability of a cumulative rate cut of 100 basis points is 15.5%.
▌UBS expects the US dollar to fall further and recommends investors to reduce their US dollar holdings
According to News.bitcoin, UBS expects the dollar to continue to depreciate and advises investors to reassess their portfolios. The bank expects the dollar to fall in the medium term due to narrowing interest rate advantages and increasing fiscal deficits. Since June, the dollar has fallen by 5%, and UBS recommends that investors adopt strategies such as currency hedging and diversification of investments in other currencies and assets such as gold to reduce risks.
▌10x Research: Speculative traders may have shifted from Bitcoin to A-shares
10x Research said in its latest report that the crypto market is going through some major shifts. While short-term concerns are evident, the larger trends may soon overshadow them. Last night's market correction may stem from weak Chinese economic data, which indicated the need for additional stimulus. As a result, speculative traders may have shifted from Bitcoin to Chinese stocks for higher beta exposure. There are also concerns about weakness at the beginning of the month. In addition, Bitcoin's short-term technical indicators appear overbought.
Golden Encyclopedia
What is the Algorithm of Thought (AoT)?
Algorithms of Thought (AoT) is a groundbreaking approach in the field of artificial intelligence (AI) that revolutionizes the way AI models think and reason. Developed by Microsoft Research, AoT introduces a new paradigm for large language models (LLMs) to enhance reasoning capabilities to solve complex problems. It aims to combine the best of both worlds: a nuanced, intuitive understanding of the human thought process with the structured, systematic nature of an algorithmic approach.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.
