Category: AI

Ananalystwhoaccuratelycalledthemarketcollapseof2022saysthatamassiveblackswaneventcouldcrushaltcoinsaheadoftheUSelection. Writingtohis105,000subscribersinhisTelegramchannel,pseudonymouscryptoanalystCaposaysthatOTHERS,whichtracksthemarketcapofallcryptoassetsexcludingstablecoinsandthetop10rankedcoins,couldbeheadedforamassivedropduringtheelection. Capodoesn’tmakeanypredictionsonwhatexactlytheblackswaneventcouldbebutsaysitwilllikelybeanoptimalbuyingopportunity. “Quickupdate: Asmentionedbefore,severalfactorscouldtriggerablackswaneventbeforetheUSelection.Thiswouldcausea35%avg.dropforaltcoins,meaningthatbigcapscoulddump25-35%,andlowcapscoulddump40-60%. Onceagain,thiswouldbeaverylastshakeoutbeforearealaltseasoncouldbegin.Soifithappens,justbereadyanddon’tgetscared. Staysafe.” Source:Capo/Telegram InamorerecentpostonTelegram,Caposaystheoddsofsuchascenariohavenowgoneup,andthathe’spreparingbysheddingsomeofhisaltcoinholdings. “Probabilitiesforthisscenariohavejustincreased. I’vesoldsomealtcoinstoreducemyexposuretothemarket,evenifIwasalreadycoveredwithahedge. Ifthisscenariodoesn’tplayout,there’snoissueinre-enteringpositionslater.However,wecan’tignorethedata–themarketisshowingsignificantweaknessatthispoint.” GeneratedImage:Midjourney dailyhodl.com

ThenumberofmonthlyactiveaddressesontheSolana(SOL)networkhasreached138millionthismonth,afterseeingexponentialgrowththroughouttheyearamidawidercryptocurrencymarketrecovery. AccordingtodatafromArtemis,Solanahadaround13.8millionmonthlyactiveaddressesatthebeginningoftheyear,withthefiguregraduallygrowinguntiltheSummer.SinceAugust,thenumberofactiveaddressesonthenetworkexplodedupward,fromaround40millionattheendofthatmonthtosurpass100millioninearlyOctober.Thefiguregrewover30%inthepastmonth. Source:Artemis Theriseinmonthlyactiveaddressescomesasthetotalvaluelocked(TVL)onSolana’sdecentralizedfinanceecosystemsurges,withdatashowingsubstantialinflowsyear-to-date.AsCryptoGlboereported,$2.36billionofthoseinflowscamefromEthereum,althoughETHsaw$1billionofthosefundsreturn. Thedatashowsthatonly2.7%ofEthereum’sTVLmigratedtoSolanayear-to-date,withthesecond-largestnetworkbymarketcapitalizationseeing$6billionofnetoutflowssofarthisyear. Solana’srisehasneverthelessbeennotablethisyear,withitspricesignificantlyoutperformingmostotherdigitalassetstothepointthatit’snearlyovercomingBinance’sBNBtobecomethefourth-largestdigitalcurrencybymarketcapitalization. TheSolanaecosystemwasnegativelyimpactedbythecollapseofFTXinNovember2022.Theexchange’sexecutiveswerewell-knownSolanaproponentswithlargeSOLholdings,withthecollapseleadingtoanear70%pricedropforSolanaamidbroadermarketpanic. FTX’scollapseraisedconcernsaboutthesustainabilityoftheSolanaecosystem,withestimatessuggestingthatabout20%ofSolana-basedprojectsthenhadreceivedinvestmentsfromFTXoritssistercompanyAlamedaResearch. InvestorshavesincethenreengagedwiththeSolanaecosystem,withprojectslikePump.funanddecentralizedcryptocurrencyexchangeRaydiumseeingactivityskyrocketoverthelastfewmonths,asfirstreportedbyTheBlock. FeaturedimageviaUnsplash. cryptoglobe.com

ThemarketsentimenthasturnedbullishforToncoin,withmanycryptoparticipantsoptimisticaboutapotentialpricerally. Toncoinhasseenasurgeinuniquewalletholders,surpassing100million,reflectingnearly25timesgrowthsinceearlythisyear. ThedevelopmentteamoftheTONblockchainhasbeenworkingonafewoptimizationstherebyintroducingsomekeyupdatesthatfixthevulnerabilitiesonitsnetwork.Lastweek,TheOpenNetwork(TON)communityrolledouttwoupdatesFunC0.4.5andv2024.10,withthegoalofenhancingperformance,efficiency,aswellasreliabilityoftheecosystem. Asaresultofthesedevelopments,cryptomarketparticipantshaveturnedbullishregardingtheToncoinpricerallyahead.AccordingtoarecentreleaseonGitHub,theTONblockchainhasmadesignificantstrideswiththerolloutofupdatev2024.10andFunC0.4.5. ThisupdateintroducesahostofgroundbreakingchangesforTheOpenNetworkecosystem.Theofficialannouncementhighlightsimprovementsinsynchronizationspeedandgarbagecollection(GC),whichwillbenefitsystemsutilizingslowerdisks. Toenhancetheefficiency,thesystemupdatewillminimizetheamountofdatatransmittedoverthenetwork.Asaresultofthis,theecosystemseesdecreasednetworktraffic.Moreover,thisupdatewillalsobringtheseamlesscreationofchannelswhilelookingupDistributedHashTables(DHT),supportingnetworkresponsiveness. Furthermore,theupdatewillfixthebugassociatedwithFunCandwillenhancecodeexecutionandcorrectnessontheTONblockchain.ThereleasealsonotedminorupdatestotheTVMaimedatenhancingnetworkfunctionality.Collectively,thesedevelopments,alongwithotherrecentimprovements,haveattractedsignificantmarketinterestinToncoinwithinthewidercryptocurrencylandscape. Toncoin(TON)PriceRallyAhead? Toncoinhasbeenoneofthetop-performingaltcoinsthisyearin2024,leavingbehindthelikesofpopularplayerslikeCardano(ADA),ShibaInu(SHIB),Avalanche(AVAX),andothers.Asaresult,TONoccupiesaspotinthelistoftop-tencryptocurrenciesbymarketcap. ThemassiverallyintheTONpricecomeswithsupportfromtheexpandingTelegramecosystem.ThelaunchofseveralviralgameslikeBitcoinDogsontheTelegramnetwork,hasboostedtheutilityofToncoinevenfurther,reportedCNF. Currently,theToncoin(TON)priceistrading2.2%upat$4.82withamarketcapof$12.27billion,andthedailytradingvolumesurging10.24%.Thecryptocurrency’sweeklypricechartreflecteda3.2%decline,whilethemonthlychartindicateda9.34%drop.Despitethisbearishtrend,marketsentimentsregardingfuturemovementsseemtobeshiftingpositivelyinresponsetorecentdevelopments. Inarecenttweet,cryptoanalystbmoonvcexpressedabullishoutlookforToncoin,notingtheemergenceofadouble-bottomreversalpattern.Thischartformation,resemblinga‘W,’indicatesincreasingdemandpressurewithtwosignificantreversals.TheanalystpredictsthatcompletingthispatterncouldpropelTON’spricetoapeakof$20. Toncoin(TON)hasexperiencedasignificantriseinthenumberofuniquewalletsholdingthecryptocurrency,nowexceeding100millionandrankingitasthe10th-largestcryptocurrencybymarketcapitalization,reportedCNF.Thisgrowthinholdersstartedearlierthisyearwhentherewerejustoverfourmillionwallets,showcasingaremarkableincreaseofnearly25timesinjustafewmonths. crypto-news-flash.com

AlthoughBitcoinwon\'tbeontheballotthisElectionDay,it\'shardtodenydigitalassets’griponU.S.politicsthiselectioncycle. FromU.S.congressmen\'spublicpowwowswithcryptoindustryleaderstoTrump\'sDeFiprojectlaunchtobothpresidentialcandidates’promisestosupportnewregulationsforthedigitalassetsindustry,cryptohasdominatedmainstreammediaheadlinesandechoedacrosssocialmediaplatforms. Here\'saroundupofthecryptoindustry\'smostsignificantmilestonesaheadofElectionDayonTuesday. TrumpNFTMar-a-Lagoevent DonaldTrumpelicitedcheersfromacrypto-friendlycrowdinMayforpromisingtokeepdigitalassetscompaniesstatesideduringaneventforhislatestNFTcollectionatMar-a-Lago. Theformerpresident\'svowtoprotecttheburgeoningU.S.cryptoindustrycameasaresponsetoaquestionfromanNFTbuilderfromtheprominentDeGodsproject,sportingapairofPitVipershadesatthesoiree. Thememeifiedmomentcaughtfireonsocialmedia,bolsteringpositivesentimentsaboutthefutureofU.S.cryptoregulationandpolicyamongstsomecryptoenthusiasts.Despitethesillinessofthemoment,somehaileditasaturningpointforcryptoinpolitics. RepublicansputBitcoininpartyplatform TheGOPralliedbehindDonaldTrump’scryptopivotinearlyJuly,vowingto“defendtherighttomineBitcoin”andself-custodycryptoinitspartyplatform. TheRepublicanNationalCommittee’smanifestoalsoexpressedbroadersupportfordigitalassetscompanies,promisingtoendan“unlawfulandun-Americancrackdown”ontheU.S.cryptoindustry. TrumpandRFKJr.talkBitcoinatBTCNashville DonaldTrumppromisedtocreateastrategicBitcoinstockpilefortheU.S.FederalReserveifelected,duringaspeechatBTCNashvilleonJuly27.HealsovowedtofireSecuritiesandExchangeCommission(SEC)ChairGaryGenslerandputregulatorspartialtocryptointopower. Meanwhile,then-independentpresidentialcandidateRobertF.KennedyJr.(RFKJr.)offeredamorenuancedanddetailedplantopromoteBitcoinduringaseparateeventatthesameconference.RFKultimatelysuspendedhiscampaign,however,andthrewhissupportbehindTrump. WorldLibertyFinancialreveal TheTrumpOrganizationrevealedinAugustthatitwouldembarkonyetanothercrypto-relatedventure. Thedetailsofthebusiness,aDeFiplatformcalledWorldLibertyFinancial(formerlyTheDeFiantOnes),remainedlargelyunclearatthetime.However,Trumppromisedthattheprojectwouldfree“theaverageAmerican”from“thebigbanksandfinancialelites”inapostonTruthSocial. TheannouncementwasmetwithexcitementamongusersonCryptoTwitter,butitalsoinvitedquestionsaboutpotentialconflictsofinterestposedbyTrump\'sdeepeningenmeshmentwiththecryptoindustryaheadofhispotentialre-election. TrumpsharedmoredetailsontheprojectinaSeptemberlive-streamedinterviewwithRugRadio,Decrypt’ssistercompany,andhostedatokensaleinOctoberthatsawmiddlingdemand. DecryptalsoreportedinOctoberthatWorldLibertyFinancialplanstoissueitsownstablecoin,citingsourcesfamiliarwithitsplans. Crypto4Harrisroundtable Sen.ChuckSchumer(D-NY)vowedtopasslegislationthatgivesclearregulatoryguardrailsforthecryptoindustryintheU.S.atagrassroots-organizeddigitaltownhallmeetingforDemocraticpresidentialnomineeKamalaHarrisinAugust. The90-minuteCrypto4HarrislivestreambroughttogetherseveralU.S.Democratcongressmen,suchasWileyNickel,ahostofkeycryptoindustryplayers,andbillionaireinvestorandentrepreneurMarkCuban.TheeventmarkedoneofthefirstpublicshowingsofsolidaritybetweenU.S.Democratsanddigitalassetcompanies. Trumptokenspeculation—andscams InAugust,cryptoholdersexpressedexcitementabouttheTrumpfamily\'splanstorolloutaDeFiplatformcalledWorldLibertyProject.ButtheirenthusiasmwasbluntedwhenWLFcameupagainstthegreatestscourgeofthedecentralizedfinanceworld—scammers. InearlySeptember,scammersspunupseveralfakepagesforthemuch-awaitedproject.ThelinkswerepromotedonseveralTrumpfamilymembers’socialmediaaccounts,whichappearedtobehacked. Theconfusionledsomewould-beWLFinvestorstoclickonmaliciouslinksandlosetheircryptoholdings.ThescamsmarredthelaunchoftheDeFiproject,whichhasexperiencedlacklusterparticipationandtokensales. FurthercomplicatingmatterswereconflictingclaimsoverwhethertheDJTtokenwasultimatelyan“official”TrumpcoincreatedwiththehelpofDonald’sson,BarronTrump,as“PharmaBro”MartinShkreliclaimed.Thatwasneverproven,however,andformerTrumpallyRogerStonesaidthatitwasnotalegitTrumpproject. TrumpbuysburgerswithBitcoininNYC TrumpboughtaroundofburgerswithBitcoininSeptemberatPubKey,aBTC-themedbarinManhattan.ThecampaignstuntcameseveralmonthsaftertheRepublicannomineespokeatBitcoinNashville. Invideoclipssharedfromthebar,heusedasmartphonetomakethepurchaseusingBitcoin.Hethenproceededtocallthem“cryptoburgers”inapotentialfauxpas,asBitcoinersattemptedtocorrecthim,butnoneofthedie-hardBTCfansappeartobeholdingitagainsthim.…

XRPhasbeenstuckinadownwardtrendsincetheendofOctoberandisfindingitdifficulttopickupsteam.ThechartdisplaysadistinctdownwardtrendlinethathasservedasabarrierthatXRPhasbeenunabletoovercome.Themarket\'spessimismisreflectedinthislineofresistance,whichdrivesthepricelowerwheneverXRPcomesnearit.Inordertosignifyareversal,XRPmustbreakabovethislineandholditspositionforthedowntrendtoend. Giventhedowntrendandtheregularformationoflowerhighsandlowerlows,itappearsthatbearishpressureisstillpresent.Thispatterndemonstratesthateveryrallyattemptismetwithselling,whichkeepsXRPfromestablishingastrongfoundationforanupwardtrend.Inthisscenario,thekeyleveltokeepaneyeonisaround$0.53,whereanupwardbreakoutcouldbesupportedorsuppressedbyaconvergenceofresistancelevels. XRPmayindicatetheendofthedowntrendifitcancloseabovethisresistancelineandkeepupitsmomentum.Inordertodeterminewhetherbuyinginterestisreturningtothemarket,traderswillprobablywatchforaconfirmedbreakoutandanotablevolumeincrease.ShouldXRPbreakoutofthislevel,itcouldresumeitsupwardtrajectoryandheadtowardthenextresistancelevels,whicharelocatedatabout$0.54and$0.56. However,XRPisstillinaprecariouspositionuntilthatbreakoutoccurs.SinceXRPishavingtroubleattractingthebuyingpressurerequiredtobreakoutofitsbearishtrend,thedowntrendpointstoshort-termcaution.The$0.53levelisonethatinvestorsshouldcloselymonitorbecauseabreakthroughitmightindicatethatXRPispreparedtoturnaroundandbeginanupwardtrajectory. Tron\'sbackgroundgrowth WhilemostoftheattentioninthecryptocurrencyworldisstillonbigassetslikeBitcoinandEthereum,Tronhasquietlydeliveredanimpressiverally,risingby36%inrecentmonths.Incontrasttootheraltcoinsthatarehavingdifficultysustainingmomentum,TRXhasdemonstratedexceptionalstrengthandresilience. Tronisabletostandoutwithconsistentgainsthankstothechart\'ssteadyupwardtrend,whichismainlyunrelatedtothelargercryptocurrencymarket.Thepricehasrisensteadilyduringtherally,asopposedtosharply,whichisoftenasignofvolatility.TRXisadesirablealternativeforinvestorslookingformorestablealtcoinsbecauseofthistrend,whichemphasizesitspotentialforsteadygrowthasitrises. Keyresistancelevelsareimportanttomonitorinordertodeterminewheretheassetmayencounterdifficulties,asTRXcontinuesonitsupwardtrajectory.TRXiscurrentlytargetingthe$0.1700mark,whichrepresentsasignificanttechnicalandpsychologicalbarrier.Apathtoward$0.1750,whichisconsistentwithpastpriceactionandmightserveasasmallobstacle,couldbecomeavailableifthislevelisbroken. Thelonger-termtargetandmoreformidableresistancelevel,$0.1800,iswherewemightseemoresellingpressureafterthat.Topredictpossiblereversalsorpausesintherally,investorsshouldmonitortheseresistancelevelsasTRXkeepsgainingtraction.TheconsistentincreaseimpliesthatTron\'sperformanceisnotmerelyapassingfadbutratheracomponentofapotentiallybiggertrendthatissubtlydeveloping. Inamarketwherealtcoinsfrequentlyfacedifficulties,TRX\'ssteadyincreaseindicatesinvestorconfidence.ThecurrenttrendforTronindicatesarobustlong-termupwardtrend,withimportantlevelstomonitorforadditionalgains.TRXisastrongalternativeduetoitsgrowthandstabilityeventhoughtheoverallmarketisstillerratic. Solana\'shealthycorrection EventhoughSolanarecentlysawan11%decline,abullishsignalisapproachingthatcouldgiveinvestorshope.Abullishcrossoverisatechnicalpatternthatthe50-dayExponentialMovingAverage(EMA)isgettingclosetocrossingabovethe100-dayEMA.Thiscrossoverindicatesachangeinmomentum,frequentlyresultinginanuptrendwhereshort-termmarketsentimentsurpassesthelonger-termtrend. Buyersmayberegainingcontrolandpossiblyreversingtherecentdeclinewhenthe50-EMA,theshorter-termEMA,crossesabovethe100-EMA,thelonger-termone.ThiscrossovermightbethecuethatfansofSolanahavebeenlookingfor.Strongerupwardmovementintheupcomingweekscouldresultfromthecrossover\'sfinalization,whichcouldalsosolidifysupportlevelsandpiqueinvestors\'interestagain. Solanaiscurrentlysellingforabout$161,whichislessthanitsrecentpeak.Thisretreatisnotalwaysabadthing,though.Theycangiveassetsthathaveexperiencedlargeralliesafreshstartandarefrequentlyhealthycorrections.TheconditionsforareversalarestillinplaceaslongasSOLstaysstablearounditscurrentlevel,particularlyinlightoftheexpectedEMAcrossover. Theresistancelevelsof$170and$180willbethenextpricelevelstokeepaneyeonifSOLcanstabilizeandpickupsteamfromthebullishEMAsignal.Ifthesearebroken,itmightstrengthentheupwardtrendandboostinterestinpurchasing.Ontheotherhand,theEMAsetupindicatesthatbullsmaysoonreturntothemarket,butfailuretoholdsupportlevelscouldresultinadditionaldownside. u.today

DeutscheTelekomMMShasstartedanexclusivepartnershipwithBankhausMetzlerforapilotprojectoperatinga$BTCmininginfrastructurebyutilizingsurplusenergy.Thecollaborationtargetsusingtheelectricitycomingfromrenewablesourcesofenergy.Theplatformdisclosedthisdevelopmentonitsofficialwebportal. Telekom’sPilotProjectfor$BTCMiningInfrastructureUsesRenewableEnergy Telekompointedoutthatthepilotprojectusingrenewableenergyfor$BTCmininginfrastructureisasignificantstep.Theprojectreportedlyaimstoofferauthenticfielddataaswellasinsightsfortheplanningofmoreprojects.Withthespikeintheproductionofenergyfromsuchsources,therequirementtoregulatetheenergygridalsoincreases.Thisisbecausetheproductionirregularlyheightensinlinewiththeweather. Especiallyviawindandphotovoltaicpower,thesurplusenergy’samountisincreasing.Therespectiveregulatingpowervia$BTCminingiseffectivelypracticedacrosstherestofthecountries.TheytakeintoaccountFinlandandtheUnitedStatesofAmerica.ThepilotprojectreportedlyfocusesonthevalidationoftheproceduresforGermany. Becauseoftheflexibleload,the$BTCminerscouldcontributealotinbalancingthedemandandsupplylevelsinthepowergrid.Thelong-termobjectivedealswithutilizingthedatacomingfromthepilotprojectfortheenergygrid’sstabilizationduringthefluctuations. ThePartnersAimtoDelveintheExclusiveFinancialPossibilitiesConcerningDigitalAssets MetisSolutionsGmbHfromDresdenisresponsibleformanagingthehostingof$BTCminersfortheabove-mentionedpilotproject.ThelocationsofminingcontainersaresituatedwithinRivaGmbHEngineering’spremisesinBacknang.Bothcollaboratorsintendtofurtherexplorethepossibilitiesconcerningthefinancialservicesthattakeintoaccountthedigitalassetsector. blockchainreporter.net

Layer-1blockchainMANTRAandUnitedArabEmirates-basedtokenizationplatformLibreCapitalaimtodrivefurtheradoptionoftokenizedreal-worldassets OnNov.4,MANTRA(OM)andLibreCapitalannouncedapartnershipleveragingtheircombinedstrengthstoofferon-chainfundstoMANTRA’sinstitutionaloraccreditedusers. MANTRAstatedthatthecollaborationwoulduseitspurpose-builtRWAblockchainalongwithLibre’stokenizationandissuancecapabilities.Together,theyaimtoprovideon-chainaccesstoinvestmentopportunitiesinhedgefunds,moneymarketfunds,andprivatecreditfunds. Accordingtodetailsintheannouncement,anewintegrationiswhatwillhelpeligibleinstitutionalinvestorsaccesstheon-chainfundsonMANTRA.ThiswillbeviaLibre’sdecentralizedapplicationsdeploymentdubbed“LibreGatewayDeFidApps”. Libredeploysthisfeatureonintegratedchains,allowingaccesstotop-tiertokenizedmoneymarketfundsandothersinacompliantway. JohnPatrickMullin,co-founderandchiefexecutiveofficerofMANTRAsaid: “WiththeadditionofprotocolsliketheLibreGateway,MANTRAcanbetterequipuserswithabest-in-classcollectionoftoolstocontinuetogrowthereal-worldasseteconomy.” MANTRAChain’sintegrationofLibreGatewayallowsvariousbenefitsfortheL1platform’susers,includingaccesstotreasurymanagementtools.LibreontheotherhandwillexploretheRWA-specificinfrastructurethatthelayer-1blockchainnetworkoffers,Dr.AvtarSehra,founderandchiefexecutiveofficerofLibre,noted. MANTRAChainlauncheditsmainnetinOctoberandrecentlypartneredwithGoogleCloud,whichisavalidatorandinfrastructureprovider.OneofthegoalsofthepartnershipistobolsterMANTRA’sreal-worldassetsmarketviaanacceleratorprogram. TheRWAacceleratorprogramwillgoliveinthefirstquarterofnextyear. crypto.news

AUKpensionfundhasputBitcoinonitsbalancesheet—inthefirstmoveofitskindinthecountry. PensionsadvisoryfirmCartwrightannouncedMondaythatithadtoldanunnamedclientintheUKtomakea3%allocationtotheleadingcryptocurrency. ThefirmsaidthatitmadetherecommendationbecauseofBitcoin’slong-termgains.Thecryptocurrencyhasriseninpricebynearly100,000%since2013,CoinGeckodatashows. “Trusteesoftheunnamedschemechoosetomakea3%Bitcoinallocation,reflectingthescheme’srelativelylonginvestmenttimehorizon,”theannouncementsaid. Cartwright’sdirectorofinvestmentconsultingatCartwright,SamRoberts,saidthathehopedthe“strategicmove”wouldbefollowedbyothers. “Weareproudtohaveledthisgroundbreakingmove,”hesaid,“whichwehopewillbethestartofatrendforinstitutionalinvestorsintheUKtocatchupwiththeirincreasingnumberofpeersandcompetitorsaroundtheworldwhoarealreadytakingadvantageofBitcoin’suniqueattributes.” CartwrightsaiditexpectsinstitutionaladoptionofBitcointobesimilartowhenpensionschemesstartedbuyingequitiesinthe1970s:Itmaybeslowatfirst,buttheneventuallywillseemlikeabadideatonotallocatetheassettoaportfolio. InstitutionaladoptionofBitcoinhasgrownaroundtheworld—butparticularlyintheU.S.—followingtheJanuaryapprovalofspotBitcoinexchange-tradedfunds(ETFs).Thefundsallowinvestorstobuyexposuretothecryptocurrencyviastock-likesharesthattradeonregulatedexchanges. MajorWallStreetplayersincludingBlackRockandFidelitylaunchedthefunds,andhavesofarcollectivelysnappedupover1millionBitcoin—or$67billionworthattoday’sprices EditedbyAndrewHayward decrypt.co

OpenSeawillrebuilditsplatformfromscratchandofferanewversioninDecember.TheNFTmarkethasopenedawaitinglistforitsnewsite. OpenSeawilltakeastepbackandrebuildfromscratch.AnewversionoftheleadingNFTmarketplaceiscominginDecember.DevinFinzer,co-founderofthemarketplace,announcedthenewupcomingversionthathasbeencookingforawhile. We\'vebeenquietlycookingat@opensea Toreallyinnovate,sometimesyouhavetotakeastepbackandreimagineeverything SowebuiltanewOpenSeafromthegroundup SailsupinDecember⛵️https://t.co/HaU1bDm29S —DevinFinzer(dfinzer.eth)(@dfinzer)November4,2024 OpenSeahasbeentalkingaboutbuildingversion2.0forthepastyear.Attheendof2023,theplatformlaidoffhalfitsstaffinabidtorestructureitself,butalsoasaresultofthestagnantNFTmarket. TheupcominglaunchofthenewOpenSeaversionalsorenewedtheexpectationsoflaunchinganativetoken.Untilnow,OpenSeahasnothintedattokenizing,orpromisinganairdropforitsactivity. Justbeforetheannouncementofanewwebsite,OpenSeaactivityspikedbriefly.Theplatformstillservesmorethan6Kdailyusers,withaturnoverof$820Kdaily.BasedonDappRadardata,theaverageNFTpriceonthemarketplaceis$130,whileBlurcarriesmoreexpensiveNFTwithanaveragepriceof$1.12K.MagicEdenhasalsotakenawaysomeofthevolumesfromOpenSea. InOctober,NFTtradingwasjustabove$136M,slightlyhigherthantheprecedingmonth.Inthewholeof2024,volumesonEthereumhavebeensliding.TheadditionofBitcoin-basedOrdinalsdidnotoffsettheslideinEthereum.Solana-basedNFTsawarecoveryinOctober.TheoverallnumberofuniqueNFTbuyersalsoincreasedin2024.TheNFTmarketgainedanotherboostfromBase,whichaddedlow-costorfreeNFTaspartofitson-chainexpansion. NFTsalesdeclinedinthesecondhalfof2024.|Source:Nonfungible TheentireNFTmarketreacheditslowestpointsince2021inSeptemberandsparkedhopesofarecovery.InthewholeofOctober,NFTsalesreached$356Minvolumes,thoughwithasignificantshareofwashtradingandanoveralllossof$22Mfortheperiod. TheageofexorbitantNFTsalesseemstobeover.However,theremaybeawayforliveliertrades,asNFTavatarsandsocialmediapresencearenotentirelyforgotten.Punksstillsellforasmuchas25.50ETHandretainafloorpriceabove25ETH.Thehighlyvaluablecollectionsareoftenheldbyexperiencedtraders,whoarewillingtowaitandhypeupthescarcityagain. In-gameNFTslikeAxiesarestillchanginghandsandhavein-gameutility,aswellaspersonalcollectiblevalue. NFTaimstorecoversalesactivity NFTmarketplaceshavesincetakenahitasbothcollectionsandin-gameuseskeptdeclininginpopularityin2022.EventhetopcollectionslikePunksandBoredApeYachtClublostgroundandmovedtoamuchlowerfloorprice.Inthepastyear,NFTmanagedtorallyduringtimesofgeneraldemandforcryptoassets. Punksandothertopcollectionscontinuetobeactive,andsomecommunitiesretaintheirNFTavatars.NFTsaleshavebeenslowingdownforthepastquarter,bothintermsofrawdealsandvalue.OpenSeaandBlurcompeteforthetopposition,thoughtheleadingplatformisstillatthetopwithahighernumberofdeals.BlurstillcarriesahigherEthereumvalue,withitsmoreexpensiveitems. Punks,BAYC,PudgyPenguins,Azukis,andMiladyMakerremainstaplesintheNFTspace.SeveralcontenderslikeBitcoinPuppetsalsooutperformtemporarily.BAYCevencontinueswithnewmints,remainingapopularbrandforcryptotraders. NFTrecoversaftermemetokenhype TheNFTmarketservedasaprecursorofthememetokenhype.However,theimagesandavatarsweretooconfusingandtooexpensiveformassadoption.Themainideatoholdforthelongtermwasalsosomewhatsimilartomemecommunities. ForNFTholders,theirinvestmentwasnotdivisible,andtheycouldnotbuyafractionofanNFT.Forthatreason,therushtomemetokenssurpassedNFTmints.Additionally,NFTtradingreliesoncentralizedmarketplacesandauctions. Inthepast,NFTshavebeenlinkedtoadditionalairdrops,soitmaybepossibletolinkNFTswithmemeassets. cryptopolitan.com

APT,thenativetokenofLayer-1blockchainAptos,hasrisenby2%overthepast24hours.However,areviewoftheone-daychartsuggeststhattheAptospricerallymerelymirrorstheuptickinthebroadercryptocurrencymarketduringthatperiod. Despitetherecentuptick,APTfacesastrongbearishbias,whichcoulderasethesegainssoon.ThisanalysisexploresthefactorscontributingtothepersistentbearishoutlookforAPT. AptosClimbs,ButThereIsaCatch Overthepastweek,APT’spricehasdroppedby8%.Thisdeclinehaspushedthecoin’svaluebelowits20-dayexponentialmovingaverage(EMA)and50-daysmallmovingaverage(SMA).The20-dayEMAmeasuresanasset’saveragepriceoverthepast20tradingdays,whileits50-daySMAtracksitspriceoverthepast50tradingdays. Whenanasset’spricedipsbelowkeymovingaverages,itindicatesanegativemomentumshift.Adropbelowthe20-dayEMAsuggestsashort-termbearishtrend,pointingtoweakeningrecentpriceaction.Incontrast,fallingbelowthe50-daySMAisastrongersignalofapotentiallonger-termtrendreversal,implyingthatupwardmomentummaybefading. APT20-DayEMA/50-DaySMA.Source:TradingView ThesetupofAPT’smovingaverageconvergence/divergence(MACD)reinforcesthebearishoutlook.Currently,theMACDline(blue)ispositionedbelowboththesignalline(orange)andthezeroline. Asanindicatorofpricetrendsandmomentum,theMACDhelpsidentifypotentialbuyorsellsignals.Thisalignmentindicatesastrongbearishtrend,suggestingthatoverallmomentumisnegativeandconfirmingthatAPTisinadowntrend. APTMACD.Source:TradingView APTPricePrediction:ChartingthePathto$10.07 Atpresstime,APTistradingat$8.27,holdingjustaboveasupportlevelat$7.87.Ifbuyingpressureweakens,thepricemaytestthissupport,andfailuretoholdcouldseeAPTplungefurtherto$5.66,whereitmightseektoestablishanewsupportbase. APTPriceAnalysis.Source:TradingView ThisbearishoutlookwouldbeinvalidatedifAPT’spricerallygainsstrength,drivenbyreneweddemand.Inthiscase,APTwouldlikelybounceoffthe$7.87supportandaimtoclimbabovethe$10.07level. beincrypto.com