🟢 $BTC price soared nearly 3% as of press time and is currently trading at $65,289. 🟢 This rising price action aligns with a staggering $365.57 million inflows in Bitcoin ETFs as of September 26.
Ethereum Price Today-
🟢 Simultaneously, $ETH price chart illustrated gains worth nearly 1.5% over the past day and is currently sitting at $2,635.
🟢 Ethereum’s market cap stood at $317.27 billion today. Notably, the coin rises despite $675.45K outflows in spot ETH ETFs as of September 26.
Solana Price Today-
🟢 The crypto $SOL witnessed a 4% increase in value from yesterday and is currently trading at $158.
🟢 The coin’s intraday low and high were recorded as $148.82 and $157.86, respectively.
🟢Notably, Solana’s market cap rested at $73 billion today.
The #crypto prices today have stirred speculations, reversing recent gains.
🟢 $BTC is back on the $56K level, $ETH below $2,400, but DOGS soars. 🟢 Altcoins mainly follow the broader market trend. 🟢 The global cryptocurrency market cap slipped nearly 0.5% to rest below the $2 trillion level today, raising investor concerns. 🟢 Meanwhile, ETH, $SOL and XRP mimicked a waning movement alongside the broader market trend.
DePIN protocols have garnered interest lately due to their potential to impact a wide range of industries, including the Internet, artificial intelligence (AI), energy, wireless communications, and more.
• Let's understand what is DePIN-
A DePIN is a decentralized application that uses tokens to incentivize people to crowdsource and build connected real-world physical infrastructure.
• DePIN can be used in different ways.
Globally empowering individuals, these networks enable collaborative efforts in building, maintaining, and operating community-owned physical infrastructure without relying on a single centralized entity.
• How Do DePINs Work? DePINs function through three key elements:
➤ Off-chain network mainly comprises its users and service providers ➤ The blockchain brings end users and service providers together. ➤ Protocol defines the key features of how a DePIN functions.
• Benefits of DePIN
The conceptual scope of DePIN is defined by shared characteristics:
👉🏻 Permissionless entry 👉🏻 Distributed infrastructure costs, and 👉🏻 Economies of scale
• DePIN Sectors
So you can have DePINs providing everything from mobility to energy, to connectivity, to storage services.
But are all DePINs equal?
Let's break it down further 👇🏻
• Physical Resource Networks vs Digital Resource Networks
PRNs 👉🏻 incentivize people to direct or deploy hardware to offer real-world, non-fungible goods and services.
DRNs 👉🏻 incentivize people to direct or deploy hardware to offer fungible, digital resources.
What Is a #bitcoin #etf and Why Does Everyone from BlackRock to Grayscale Want One? 🤔
Learn more about how It Works and how to Invest 👇🏻
1- A Bitcoin ETF creates a simple, legally compliant way to trade the price of Bitcoin , accessible on markets that investors are already familiar with.
2- What is an ETF?
#etf refers to the exchange-traded funds that are a collection of assets whose shares are traded on a stock market.
They blend the characteristics and potential benefits of mutual funds, stocks and bonds.
3- ETFs track BTC's value and trade on traditional stock exchanges rather than #crypto exchanges.
In addition, they allow investors to invest in Bitcoin without the inconvenience of using a cryptocurrency exchange while also giving price leverage.
4- The majority of Bitcoin ETFs employ futures to simulate the cryptocurrency's performance.
Futures allow investors to protect themselves against turbulent markets by ensuring that they can buy or sell a specific cryptocurrency at a particular price in the future.
5- An ETF monitors the price of an underlying asset or index.
For example, a Bitcoin ETF would function similarly, with the price of one share of the exchange-traded fund fluctuating in lockstep with the price of #BTC
6- Why the need for a Bitcoin ETF?
With a BitcoinETF investors need not worry about private keys, storage, or security.
They own shares in the ETF and can gain exposure to the cryptocurrency market without having to go through the hoops of purchasing and holding crypto.
Ferrari Now Accepts #crypto Payments With BitPay For Car Purchases.
Ferrari accelerates into the crypto world, allowing its customers to purchase luxury vehicles with cryptocurrencies.
According to a recent report, the company is now allowing customers in the United States to purchase their high-end vehicles using crypto like $BTC and $ETH
In addition, Ferrari plans to expand this payment option to European markets in the near future following strong demand from its clientele.
The options market is one of the fastest-growing sectors in the #cryptocurrency industry.
An option is a derivative, meaning it represents an underlying asset like $BTC or $ETH
With this, you can but you don't have to buy or sell the underlying asset. You can do so when the option expires at a set price at the expiration date, or you can do so before the expiration date.
In this piece, let's understand how RWA tokenization works 🚀
The core idea of RWA tokenization is basically to create a virtual investment vehicle on the #blockchain linked to tangible things like real estate, precious metals, art and collectables.
The advantages of keeping the ownership of the real-world items on the chain are 👇🏻 🚀 It lowers costs by removing middlemen. 🚀 It allows fast, efficient 24/7 trading of items. 🚀 It lowers the barrier to entry and creates more liquidity.
In the case of fiat currency, stablecoins are the most obvious form of RWA tokenization. Tokens such as #Tether or #USDC are tokenized dollars.
There are various RWA protocols that are capable of tokenising RWAs from a wide variety of asset classes.
There are various challenges in the process of implementing RWAs, which include legal and regulatory compliance, valuation and auditing, custody and security, governance and trust, as well as interoperability and scalability concerns.
A layer 2 is any off-chain network, system, or technology built on top of a #blockchain to help extend its capabilities.
One core requirement for a network, system, or technology to be considered a layer 2 is that it inherits the security of the blockchain it is built on top of.
For example, sidechains are often not considered layer 2s because they usually deploy their own consensus mechanisms and validators, leading to a different set of security guarantees than that of the base layer chain.
The Need for Layer 2s 🚀
Layer 2s are an emerging technology built on the premise that this scalability limitation exists because blockchains are tasked with too many things.
This is because blockchains today fulfill three core functions: execution, data availability, and consensus.
Layer 2 Security 🔒
The concept of “proof” is fundamental to layer 2s in order for them to inherit the security guarantees of a base chain.
Every layer 2 relies on some form of cryptographic proof to settle disputes on the base chain. The most prominent proofs today are fault proofs and validity proofs (also known as zero-knowledge proofs), foundations for the modern-day optimistic rollups and zk-rollups.