SCR Token Launch: Market Reaction and Community Concerns Unveiled

TL;DR
- The $SCR token launched at approximately $1.10, achieving a market cap of $212 million and over 200,000 holders in its first day.
- Despite a 20% initial decline due to allocation concerns, trading volume reached $189 million across all pairs, indicating strong market interest.

Traders have set the price of $SCR at around $1.10, giving it a market capitalization of $212 million based on a circulating supply of 190 million tokens. $SCR is designed as a native governance token, with plans to transition into a utility token as Scroll decentralizes. The lead-up to the launch faced criticism over unequal token allocation, notably the 5.5% set aside for $BNB users in Launchpool.

In addition to allocation issues, 7% of the total $SCR supply was reserved for an airdrop to early users. Despite these efforts, the token experienced a drop from $1.40 to $1.12 within hours of launch, marking a 20% decline. Concerns arose when it was revealed that the Scroll team had been accumulating "marks" convertible into airdropped tokens, but core contributor Sandy reassured the community that team members would not claim the airdrop.

On-chain data shows that $SCR gained over 200,000 holders and saw more than 500,000 token transfers on its first day. Trading volume remained robust, with $189 million exchanged across all trading pairs, and liquidity appeared healthy, with over $400,000 available near the spot price on $BNB. As $SCR navigates the volatile market, the community is keenly observing its development and implications for Scroll's decentralization efforts.

---
Follow for the latest news! 🚀

#USJoblessClaimsDip #EthereumPectraUpgrade #CryptoPreUSElection #TeslaBTCQ3HoldingsStable #ETHBTCNewLow

Spooktacular Virtual Halloween Events Await in the Metaverse

TL;DR
- Web3 platforms are hosting exciting Halloween events, including mini-games and collectible prizes, from October 23rd to November 3rd.
- Participants can engage in activities across various metaverse environments, offering unique experiences and rewards.

It’s that time of the year again: the month of jack-o-lanterns, wispy fake cobwebs, and bite-sized candy. Halloween is a season for spooks and scares, and Web3 enthusiasts can celebrate virtually with a variety of events. Pixels is hosting ‘Denis the Dentist’s Haunted Harvest’ from October 23rd to 31st, featuring mini-games and collectible costumes.

Decentraland's “Exodus Halloween 2024” runs from October 26th to November 3rd, where players can earn rewards by completing activities like chopping wood or fishing. Voxels will host “Nightmare in Voxels” and “Halloween Spectacular 2024,” promising collectible prizes and spooky games, with events spanning from October 25th to November 1st.

Horizon Worlds offers a multiplayer game called “Haunted High,” where players face off against monsters to save the school. Meanwhile, Spatial features “Haunted Alley: Spine Chilling Adventure,” inviting users to explore a haunted environment filled with tattoo artists. Despite challenges in the metaverse, there are plenty of thrilling options for celebrating this spooky season.

---

Follow for the latest news! 🎃👻

#TetherUnderInvestigation #USJoblessClaimsDip #BTC67KRebound #CryptoPreUSElection #BTCETFDemandSurge

Polymarket's Popularity Grows, But Where Are the Profits for Polygon?

TL;DR
- Polymarket has attracted nearly $2.4 billion in bets for the U.S. presidential election but generated only about $27,000 in transaction fees for the Polygon PoS network in 2024.
- Despite user engagement, the platform's low fee generation raises questions about its financial impact on the Polygon ecosystem, especially for $POL token holders.

Polymarket has emerged as a notable success on the Polygon blockchain, engaging users with bets on various topics, including the U.S. presidential election. However, despite nearly $2.4 billion wagered, the platform has generated only about $27,000 in transaction fees this year, highlighting a disconnect between user activity and revenue.

The low fee generation is attributed to the platform's minimal transaction costs and lower volume compared to high-traffic applications like decentralized exchanges (DEXs). In October, Polymarket accounted for about 5.2% of transactions on the Polygon PoS chain, but its transaction volume remains insufficient to significantly impact the network's revenue.

Polygon Labs CEO Marc Boiron noted that while Polymarket's user engagement is promising, the nature of its transactions means it is unlikely to generate substantial fees unless user numbers increase dramatically. Nonetheless, the attention garnered by Polymarket is viewed as a positive development for the broader Polygon ecosystem.

---

Follow for the latest news! 🚀

#BinanceBlockchainWeek #USJoblessClaimsDip #BTC67KRebound #CryptoPreUSElection #ETHBTCNewLow

MicroStrategy's Trading Volume Soars: Is $50 Billion Next?

TL;DR
- MicroStrategy's trading volume has surged to 17.65% of Nvidia's, despite having only 1.5% of its market cap.
- The company is nearing a $50 billion market cap, just 8% away from this significant milestone.

MicroStrategy has experienced a notable increase in trading activity, reaching 17.65% of Nvidia's trading volume in October. This is particularly impressive considering MicroStrategy's market capitalisation is only 1.5% of Nvidia's. The company is now on the brink of achieving a $50 billion market cap, being just 8% away from this key milestone.

The trading dynamics between MicroStrategy and Nvidia reflect a shift in investor sentiment. Despite the disparity in their market sizes, the rising trading volume indicates growing enthusiasm for MicroStrategy, especially in light of its cryptocurrency investments. This trend suggests that investors are increasingly recognizing MicroStrategy's strategic positioning in the crypto space.

As MicroStrategy approaches the $50 billion market cap, its stock performance will be closely watched. The interplay between trading volume and market capitalisation often serves as a barometer for investor sentiment. If this momentum continues, MicroStrategy may gain even greater recognition in the market.

---

Follow for the latest news! 🚀

#BinanceBlockchainWeek #USJoblessClaimsDip #BTC67KRebound #CryptoPreUSElection #ETHBTCNewLow

Canada's Crypto ETFs: Why We Need Local Custody Solutions Now

TL;DR
- Bordianu advocates for bringing billions in retail assets from Canadian crypto ETFs back to Canada for better management and oversight.
- Balance, as a qualified custodian, emphasizes its proprietary technology to enhance security and efficiency in managing crypto assets without relying on third-party sub-custodians.

Bordianu highlights a pressing issue regarding the safekeeping of crypto assets linked to Canadian ETF providers like 3iQ, Purpose Investments, and Evolve. Currently, these assets are often held in sub-custody with U.S. exchanges such as Coinbase and Gemini, raising concerns about the oversight of substantial retail assets located outside Canada. He stresses the importance of developing local custodial solutions to accommodate the anticipated growth of tokenized assets and stablecoins.

In a recent interview, Bordianu stated, “We have billions worth of retail assets in Canada’s crypto ETFs that sit in the United States. We'd like to bring those assets back home.” His vision aims to streamline asset management processes in Canada, making it more accessible for emerging fund managers and enhancing local infrastructure.

Bordianu also emphasizes that Balance relies on its proprietary technology, avoiding third-party sub-custody partnerships. This independence positions Balance to offer more secure and efficient services for clients managing crypto assets. As the digital asset landscape evolves, bringing ETF assets back to Canada is crucial for fostering a resilient financial ecosystem and enhancing the credibility of the crypto market.

---

Follow us for the latest news! 🚀

#BinanceBlockchainWeek #USJoblessClaimsDip #BTC67KRebound #CryptoPreUSElection #ETHBTCNewLow

Bitcoin's $100,000 Year-End Target: Why Traders Are Skeptical

TL;DR
- The probability of $BTC reaching the $100,000 target by year-end is estimated at less than 10%, reflecting trader caution.
- Market participants are focusing on macroeconomic factors and regulatory developments, leading to a preference for lower strike prices in options trading.

Recent analysis of options markets indicates that the ambitious $100,000 year-end target for $BTC is seen as highly unlikely, with estimates suggesting a probability of less than 10%. This sentiment highlights a cautious outlook among traders as they navigate the evolving cryptocurrency landscape, particularly in light of macroeconomic factors and regulatory developments.

Traders are increasingly favoring lower strike prices, which suggests a trend towards risk mitigation rather than speculation on significant price increases. This shift may stem from market corrections and external economic pressures, contributing to a broader trend of uncertainty within the cryptocurrency sector.

Additionally, macroeconomic conditions such as inflation rates and geopolitical events are influencing investor behavior in the crypto market. As these factors unfold, traders are likely to adjust their strategies, further shaping the subdued expectations for $BTC's price in the near term.

---

Follow for the latest news! 🚀

#BinanceBlockchainWeek #USJoblessClaimsDip #BTC67KRebound #CryptoPreUSElection #ETHBTCNewLow

MetalCore Moves to Solana: What This Means for Players

TL;DR
- Studio369 is migrating MetalCore to the Solana blockchain to enhance gameplay performance and reduce transaction costs for players.
- The integration with Solana Labs’ GameShift platform will simplify in-game purchases and make the game more accessible to a broader audience.

Studio369, the developer of the mech shooter MetalCore, is transitioning the game to the Solana blockchain to improve performance and accessibility. This migration is set to facilitate faster in-game transactions and lower costs, creating a more streamlined experience for players.

Solana was chosen for its high-throughput network, allowing rapid blockchain transactions that enhance in-game actions. With lower transaction fees, players can enjoy a more economical gaming experience. Matt Candler, CEO of Studio369, expressed excitement about leveraging Solana’s infrastructure to provide a frictionless user experience.

The collaboration with Solana Labs’ GameShift platform will create a unified in-game storefront, simplifying payment options for both web2 and web3 users. This integration aims to improve transaction efficiency and broaden the game's appeal to new players who may not be familiar with blockchain technology.

---

Follow for the latest news! 🚀

#BinanceBlockchainWeek #USJoblessClaimsDip #BTC67KRebound #CryptoPreUSElection #ETHBTCNewLow

Lazard Joins Asset Tokenization Trend with New Investment Funds

TL;DR
- Lazard is entering the asset tokenization space by collaborating with Bitfinex Securities and SkyBridge Invest to create tokenized funds accessible to retail investors.
- The funds will comply with Kazakhstan's regulations and can be purchased using $USDT, aiming to enhance efficiency and liquidity in financial services.

Lazard, a global financial services firm with a 175-year history, is making a significant move into asset tokenization. By partnering with Bitfinex Securities and SkyBridge Invest, Lazard aims to create tokenized funds that comply with Kazakhstan's financial regulations, making them accessible to retail investors. These funds can be purchased using $USDT, the stablecoin tied to the US dollar, marking a new opportunity for individual investors.

The tokenized funds will be structured under the supervision of the Astana Financial Services Authority (AFSA). Bitfinex Securities will manage the tokenization process, while SkyBridge will act as the broker. This initiative allows Lazard to extend its services to a broader audience, previously limited to professional investors.

Matthias Kruse, managing director at Lazard, emphasized that tokenization enhances efficiency and reduces operational costs. The trend of asset tokenization is gaining traction, with major banks and asset managers entering the market. Analysts predict that the real-world asset (RWA) market could become a multi-trillion dollar industry in the coming years.

---

Follow for the latest news! 🚀

#BinanceBlockchainWeek #USJoblessClaimsDip #BTC67KRebound #CryptoPreUSElection #ETHBTCNewLow

Tokenized Treasuries: Are They the Future of Digital Currency?

TL;DR
- Tokenized treasuries, like those from Blackrock, are emerging as competitors to stablecoins, but they are unlikely to fully replace them.
- Stablecoins currently enjoy higher liquidity and regulatory advantages, allowing them to dominate the digital currency market.

Tokenized treasuries, such as those developed by Blackrock, are gaining attention as potential competitors to stablecoins, according to a JPMorgan report. However, the report emphasizes that these tokenized assets will not entirely replace stablecoins. The regulatory advantages of stablecoins, which are not classified as securities, provide them a significant edge in the financial landscape.

Liquidity is another area where stablecoins excel compared to tokenized treasuries. The report notes that stablecoins enjoy much higher liquidity, making them more appealing for transactions and trading. This liquidity is essential for users who need quick access to their funds and the ability to transfer them seamlessly across various platforms.

While tokenized treasuries may offer unique benefits, such as enhanced security and transparency, they still face challenges in matching the established infrastructure and user base of stablecoins. As the financial ecosystem evolves, both tokenized treasuries and stablecoins will likely coexist, each addressing different market needs. The competition between these asset types could foster innovations that benefit investors and consumers alike, but for now, stablecoins remain the dominant force in the digital currency space.

---

Follow for the latest news! 🚀

#BinanceBlockchainWeek #USJoblessClaimsDip #BTC67KRebound #CryptoPreUSElection #ETHBTCNewLow

Netherlands Seeks Public Input on New Crypto Tax Rules

TL;DR
- The Netherlands is consulting on a new bill to enhance crypto tax reporting, aiming to clarify regulations for cryptocurrencies like $BTC and $ETH.
- Stakeholder feedback is sought to refine the proposed legislation, positioning the Netherlands as a leader in crypto taxation amidst global scrutiny.

The Dutch Ministry of Finance is actively seeking input on a new bill designed to improve tax reporting for cryptocurrencies. This initiative reflects the government's commitment to establishing a transparent regulatory framework, addressing key aspects such as reporting obligations for individuals and businesses involved with digital assets.

As part of the consultation, the Ministry is particularly interested in feedback regarding the definition of taxable events and the potential impact on innovation in the cryptocurrency sector. Engaging with stakeholders is crucial to ensure that the regulations are both effective and practical, fostering a balanced approach to oversight and innovation.

Industry experts have welcomed this move, emphasizing that clear regulations can enhance trust and stability in the crypto market. A well-defined tax framework could encourage more businesses to participate in the crypto space, ultimately benefiting the economy. The consultation period will facilitate a thorough examination of the proposed measures, ensuring diverse perspectives are considered.

---

Follow for the latest news! 🚀

##USJoblessClaimsDip #BTC67KRebound #CryptoPreUSElection #ETHBTCNewLow

Unlocking Web3: How Cross-Chain Aggregation Will Transform Crypto

TL;DR
- Web3 is currently fragmented due to siloed blockchains, limiting liquidity and user experience, but an aggregation layer could unify networks and enhance the DeFi landscape.
- Cross-chain settlement would unlock new opportunities in gaming and decentralized infrastructure, paving the way for a truly interconnected crypto ecosystem.

In the early days of the Internet, isolated networks struggled to communicate until TCP/IP emerged, connecting everything. Today, Web3 faces a similar challenge with blockchains stuck in silos, hindering liquidity and user experience. An aggregation layer could break down these barriers, allowing seamless access to assets and enhancing the decentralized finance (DeFi) landscape.

Cross-chain settlement is essential for unifying the developer experience and enabling smoother app development without bottlenecks. This would allow users to interact with any asset across connected chains, streamlining processes and fostering innovation. Additionally, tokenized real-world assets would benefit from a shared digital ledger, creating true cross-chain markets.

Web3 gaming also stands to gain from aggregated networks, allowing players to move seamlessly between platforms. This would create a unified ecosystem where developers can access a global gamer base. As the conversation around interoperability grows, the upcoming Aggregation Summit in Bangkok will highlight the importance of unifying Web3. A fully connected, fast, affordable, and secure Web3 is within reach, and aggregation is the key to unlocking its potential.

---

Follow for the latest news! 🚀

#BinanceBlockchainWeek #USJoblessClaimsDip #BTC67KRebound #CryptoPreUSElection #ETHBTCNewLow

Trump's Poll Odds Soar to 99% After Massive Bet on Polymarket

TL;DR
- A large purchase of over 4.5 million contracts for Donald Trump led to a temporary odds spike to 99% on Polymarket, despite actual market odds being around 63%.
- This incident underscores the volatility in prediction markets, where significant trades can distort true probabilities, necessitating caution among traders.

An individual or entity recently created a significant mispricing on Polymarket by buying over 4.5 million contracts related to Donald Trump's chances in the 2024 Presidential Election. This massive transaction caused the odds to temporarily soar to an astonishing 99%, illustrating how substantial trades can distort betting odds, even when the actual market sentiment was closer to 63%.

The mechanics of the order book are crucial in establishing these odds. Large orders can create temporary imbalances, leading to dramatic fluctuations. In this case, the overwhelming volume of contracts for Trump resulted in a brief period where the odds suggested an almost certain victory, despite prevailing market conditions indicating otherwise.

This occurrence highlights the inherent volatility in prediction markets, where large trades can create anomalies. Traders must remain vigilant, as these temporary odds may not reflect the true probabilities of an event. As the 2024 Presidential Election approaches, participants should be prepared for rapid changes in betting odds driven by trading activity.

---

Follow for the latest news! 📈

#BinanceBlockchainWeek #USJoblessClaimsDip #CryptoPreUSElection #BTC67KRebound #EthereumPectraUpgrade

Bitcoin Capital Flows to Cardano with New Grail Bridge Launch

TL;DR
- The Grail bridge by BitcoinOS enables secure transfers between $BTC and $ADA, enhancing liquidity for both ecosystems.
- EMURGO's involvement will lead to innovative tools and services that attract Bitcoin capital, promoting a more interconnected crypto landscape.

Bitcoin liquidity is finding a new home within the Cardano ecosystem with the launch of the Grail bridge by BitcoinOS. This development aims to facilitate capital movement from $BTC to $ADA, potentially enriching both networks. With EMURGO, a founding entity of Cardano, involved in creating tools and services to harness this influx of Bitcoin capital, the collaboration promises to be mutually beneficial.

The Grail bridge leverages verified ZK proofs for secure asset transfers, encouraging $BTC holders to explore opportunities within the Cardano ecosystem. As the bridge goes live, it opens avenues for Bitcoin investors to engage with Cardano's offerings, including decentralized finance (DeFi) applications and NFT platforms.

This cross-chain interaction could reshape the landscape for both cryptocurrencies. By enabling $BTC holders to send $ADA tokens back to the Bitcoin network, the Grail bridge fosters a two-way flow of assets, enhancing liquidity and creating a more interconnected ecosystem for users. The collaboration between BitcoinOS and EMURGO reflects a broader movement in the cryptocurrency community toward interoperability and innovation.

---

Follow for the latest news! 🚀

#BinanceBlockchainWeek #USJoblessClaimsDip #CryptoPreUSElection #BTC67KRebound #EthereumPectraUpgrade

Pennsylvania's Bitcoin Rights Bill: A Game Changer for Crypto Users

TL;DR
- House Bill 2481, the Bitcoin Rights bill, passed in Pennsylvania with overwhelming support, aiming to clarify rights for self-custody of digital assets and $BTC payment acceptance.
- This legislative move could influence future cryptocurrency regulations across the U.S., reflecting a growing interest in digital assets among lawmakers.

House Bill 2481, known as the Bitcoin Rights bill, has received significant backing in the Pennsylvania House of Representatives, passing with a vote of 176 to 26. This legislation is designed to establish clear rights for residents regarding the self-custody of digital assets and the acceptance of $BTC as a payment method. Approximately 12% of Pennsylvania's 13 million residents hold cryptocurrency, highlighting the importance of this market for both Republican and Democratic interests.

Developed with input from the bitcoin advocacy group Satoshi Action Fund (SAF), the bill is part of a broader trend among states seeking to create clear regulatory frameworks for the expanding crypto industry. Following its passage in the House, the bill will move to the Republican-controlled Pennsylvania Senate after the upcoming election, where further discussions and potential amendments are expected.

The strong support for House Bill 2481 indicates a shift in lawmakers' views on cryptocurrency and its economic role. As more states consider similar legislation, Pennsylvania's actions could set a precedent for other regions contemplating their own regulatory measures for digital assets. Stakeholders in the crypto space will be closely watching these developments, as the implications of this bill may extend beyond state lines, influencing how jurisdictions regulate digital currencies.

---

Follow for the latest news! 🚀

#BinanceBlockchainWeek #USJoblessClaimsDip #CryptoPreUSElection #BTC67KRebound #EthereumPectraUpgrade