Category: AI

Polymarket,ablockchain-basedpredictionmarket,isfacingscrutinyoverallegedwashtradingonitsplatform.Asthe2024U.S.presidentialelectionnears,PolymarkethasdrawnsignificantattentionwithitsoddsfavoringDonaldTrump,whocurrentlyholdsa67%chanceofwinningoverKamalaHarris,accordingtotheplatform’smetrics.

CanaryCapitalfiledforaspotSolanaETFwiththeSecuritiesandExchangeCommission(SEC)onOct.30,seekingtoestablishaUS-basedspotSolana(SOL)exchange-tradedfund. Thefund,titledtheCanarySolanaETF,isdesignedto“provideexposuretothepriceofSolana(‘SOL’)heldbytheTrust,”accordingtotheS-1registrationstatement.CanaryCapitaldidnotspecifyacustodianoradministratorinthefiling. Accordingtothefiling: “Solana’sDeFiecosystemshowsstrongmetrics,includinghightransactionvolume,activeaddresses,andnewaddressgrowth,alongsidelowtransactionfeesforusers.” FoundedbyStevenMcClurg,whoalsoestablishedValkyrieFunds,CanaryCapitalhasbeenexpandingitsETFapplications.ThefirmrecentlysubmittedfilingsforspotETFsbasedonLitecoinandXRP. Canary’seffortsalignwithincreasedinvestordemandforregulated,digitalasset-backedfundsandfollowVanEck’sJunefilingforaspotSolanaETF. Atthetime,VanEck’sdigitalassetresearchhead,MatthewSigel,commentedthatSolanafunctionallyresemblesBitcoinandEthereum,suggestingitcouldbeviewedasacommodity.ThisperspectivecontrastswiththeSEC’s2023classificationofSolanaasasecurityinitsregulatoryactionsagainstBinance. Earlierin2024,theSECapprovedawaveofspotBitcoinETFs,followedbyseveralEthereumETFs,spurringspeculationoverthepotentialapprovalofadditionalcrypto-backedETFs,includingthosebasedonSolana. CanaryCapital’slatestmovehighlightsabroadertrendamonginvestmentfirmspositioningforregulatoryapprovalintheexpandingmarketforcryptoETFsasindustryparticipantsawaitfurtherSECdecisions. cryptoslate.com

CanaryCapitalrecentlysubmittedafilingforaSolanaETFwiththeU.S.SecuritiesandExchangeCommission(SEC),markingthefirm’ssecondventureintotheexpandinglandscapeofcryptoETFs.ThismovecomesamidaseriesofCanaryCapital’scryptoETFfilings. CanaryCapital’sSolanaETFFiling ThelatestSECfilingthatunderscoresthefirm’saimtodiversifyitsofferingsbeyondthealreadytargetedcryptocurrencieslikeBitcoinandEthereum.Today,thecompanyfiledforaSOLETF,whichcomesinsecondtoVanEck’sSOLETFas21Shareswithdrewtheapplicationrecently. Earlier,onOctober15,thefirmfiledforaLitecoinETF.TheLTCETFfiling,submittedviaFormS-1,highlightsasignificantdeparturefromthetrendoffocusingpredominantlyonmajorassets,suchasBitcoinandEthereum,whichhavehistoricallydominatedETFapplications. CanaryhasfiledforaSolanaETF..Ibelievethisis#2afterVanEckpic.twitter.com/gNw6Cedrgy —EricBalchunas(@EricBalchunas)October30,2024 ThisfilingfollowedCanaryCapital’srecentapplicationforanXRPETFonOctober8.Notably,theXRPETFsubmissionwasamongthefirstofitskind,closelyfollowingBitwise’ssimilarmoveasitexploredaddingXRPtoitssuiteofcryptoproducts.TheXRPfilinggainedconsiderableattentionacrossthecryptocommunity,raisingdiscussionsaboutthegrowinginstitutionalinterestinaltcoinsbeyondthestandardchoices. ApprovalOddsforAltcoinETFs Theback-to-backfilingsbyCanaryCapitalreflectadeliberateefforttoexpandaccesstoarangeofdigitalassetsthroughregulatedfinancialproducts.It’sbecausetheSECremainscautiousonapprovingcrypto-basedETFs. Thefirm’sdecisiontopursueETFsforbothLitecoinandSolanacouldoffertraditionalinvestorsmorevariedexposurewithinthedigitalassetspace,shouldtheseapplicationsgainregulatoryapproval.WhiletheSEChasyettograntapprovalforanyofCanary’spendingapplications,thedecisiononthesefilingscouldsetimportantprecedents. IfeithertheSolana,XRPorLitecoinETFreceivesafavorablereview,itmaypromptmoreassetmanagerstoexploreETFstiedtoabroaderselectionofdigitalcurrencies.Astheindustryawaitsfurtherupdates,thesedevelopmentsreflectthegrowingmomentuminthecryptoETFspaceandabroadeninginterestbeyondtheusualleaders,suchasBitcoinandEthereum. cryptonewsz.com

DidthemillionaireAIbotknownas\"TerminalofTruths\"cashoutandleaveGoat—thememecoinitpumpedtothestratosphere—forgood? Despitethewayitlooks,no. Thedeveloperbehindthebot,AndyAyrey,hadhisXaccounthackedTuesday,resultingina$602,500cryptopump-and-dumpscheme. Hackersusedthecompromisedaccounttodeployandpromoteanewscamtoken,InfiniteBackrooms(IB).Withinhours,IB\'smarketcapitalizationhadsurgedto$25million. Aftertopping$0.025,theattackersthenliquidatedsome124.6millioninIBtokens,causingitsvaluetoplummettonearzero.IBisnowtradingat$0.002,DEXScreenerdatashows. Image:DexScreener Securityupdate:@andyayreycompromised-@constellatelabsand@truth_terminalsecuredwithhardwarekeyandnophone2fa,\"theteamposted,confirmingtheincidentandsubsequentsecuritymeasures. Followingthebreach,ConstellateLabs,anXaccountbelongingtoAyrey,confirmedthecompromiseandmovedtheremainingfundstonewwallets. Transparency: Andy\'snewwallet:FneFUpqkjBx5KNGVWtsBY7TuUnS3962BQEgctWNje7mL TruthTerminal\'snewwallet:oYYe854PaZtEgEoGb2QZN3MTfrGU1GQQHqqQZFQuV3K —Constellate#FREEANDY(@ConstellateLabs)October29,2024 TheAIbot’soldpubliclytaggedwallet,previouslyholdingnearly$2millioninGoatandothermemecoins,hasnowbeenemptied,Solscandatashows. Rightnow,theTerminalofTruthsbotownsaround$1.8Minshitcoins,with$1.2millionworthofGoatfor70%ofitstotalportfolioandhalfamilliondollarsworthofFartcoinfor29%.Therestisspreadin20differenttokens,suchasFreeandyandPimp,whichdegenshavebeengivingtothebotinhopesofpumpingtheirbags. Ayrey’sownpersonalwallethasalittlebitover$770,000,withGoataccountingfor98%ofhisportfolio.AyreydidnotimmediatelyrespondtoDecrypt\'srequestforcomment. TheSolanablockchain\'sDeFiActivitiestabonSolscanprovidesverificationoftheincident\'stransactions,distinguishinglegitimatetransfersfrompotentialfraudulentactivities. Toavoidconfusionorspeculation,Ayreyconfirmedinavideothathisandtheproject\'swalletshadbeenmovedtoanair-gappedlocationwhiletheattackwasongoing. videoupdatefrom@andyayrey(therealone,nottheeviltwincurrentlyholdingtheaccount)pic.twitter.com/OvDIeNxTJ2 —Constellate#FREEANDY(@ConstellateLabs)October29,2024 TheTerminalofTruthschatbot,whichAyreydevelopedbytrainingacustomizedversionofAnthropic\'sClaude3LLM,gainedsignificantattentionafterreceivinga$50,000BitcoindonationfromventurecapitalistMarcAndreesseninJuly. Sincethen,itstartedspreadingwhatitcalledthe“GoatseGospel,”whichservedasasparkforsomeonetocreateaGoatseusMaximustoken,whichtheAIpubliclyendorsedandstartedshilling. Thetoken’smarketcapitalizationhasgrownfast,currentlyrankingat127andbeatingoutforgottenlegendslikeTheSandbox,Decentraland,Ronin,orIOTA. EditedbySebastianSinclair decrypt.co

Thecryptoindustrywasrecentlyleftshockedwhenawomanallegeddrink-spikingandattemptedrapeinvolvingapartneratDWFLabs. Theallegedvictimwhoisalsoaweb3VCsharedherharrowingexperienceonX,asshedisclosedshehadmettheDWFLabspartnerafterherepeatedlyapproachedherwithajobopportunityalignedwithherbackground.Sheexplainedthat,eagertoexpandherskillsincrypto,sheacceptedhisinvitationtomeetataHongKongbar.However,afterabrieftriptotherestroom,shereturnedtofindherdrinkspiked,afactthatwassoonconfirmedbyawaitresswhowarnedherofthedanger. IneverthoughtI’dpersonallyexperiencesomethinglikethis.OntheeveningofOctober24th,Iwasdruggedbyapartnerat@DWFLabsatabarinHK.Ihavereportedthistothelocalpoliceandhavecollectedvideoevidenceofhimspikingmydrink.pic.twitter.com/mCQpaxB6DH —Hana小屁娜(@hananotsorry)October29,2024 ThevictimdescribedfeelingdizzyassheattemptedtoleaveandrecountedthathercompanioninsistedsheaccompanyhimtohissuiteatTheMurrayhotel,offeringindustry“alpha”andinsinuatinghecouldhelpadvancehercareer. Shockedbyhisbehavior,thewomanreportedtheincidenttolocalauthorities,securingCCTVfootagefromthevenue,whichallegedlyshowsthemanspikingherdrinkmultipletimes.Shesharedherstorytoexposewhatshesuspectsmaybearepeatoffense,hopingtoprotectothersintheindustryfromsimilarsituations. Thereisnoroomforthisinourindustryoranywhereforthematter.Thepersonshouldbenamedandshameand@DWFLabsneedstoputastatementout. —Farokh(@farokh)October29,2024 HongKongpolicearereportedlyinvestigatingthecase,ontheotherhand,andDWFLabsannounced,theyhavedismissed“thepartnerfrommanagementandoperationalroleseffectiveimmediately.”Thecryptocommunitywhichhasareputationofbeingcontrolledbycrypto-broshasrespondedwithoutrage,sparkingconversationsaboutsafetyandaccountabilitywithinprofessionalnetworks. cryptonewsz.com

GuruNetwork(GURU)tookthelead,surgingbyanimpressive103.8%.Thissurgehascapturedmarketattention,pushingthetoken’spriceto$0.02,withamarketcapof$4.4million.GURU’sperformanceunderscoresasignificantupwardtrend,suggestinggrowinginterestanddemandinnichesectorsofthecryptospace. DAILYGAINERS$GURU+103.8%$AURORA+38.6%$DEEP+22.9%$SIDUS+22.7%$PROS+22.7%$NGL+19.1%$NAVX+17.9%$SNS+16.7%$PNG+16.6%$CPOOL+15.1%#dailygainerspic.twitter.com/atgJrNFcrj —PHOENIX–CryptoNews&Analytics(@pnxgrp)October29,2024 TrailingbehindGURU,Aurora(AURORA)recordedarobustgainof38.6%,reachingacurrentpriceof$0.15andacquiringamarketcapof$76.6million.Aurora’snotableincreasesignalsstrongmarketmomentumandinvestorconfidenceinitsecosystem.DeepBook(DEEP)alsoexperiencedapositiveshift,climbingby22.9%andtradingat$0.04onBybitcryptoexchange.Withamarketcapof$113million,DEEP’sperformancereflectsheightenedactivitywithinitsplatform,markingitasaprojecttowatch. OtherMajorGainersShowConsistentGrowth Alongsidethesetopperformers,arangeofotherprojectsdemonstratedsignificantgains.Sidus(SIDUS)andProsper(PROS)bothsawa22.7%increase,withSidustradingat$0.004andPROSat$0.38.Aspartofthedailygainers’list,theirmarketcaps—$48.4millionforSidusand$38.3millionforProsper—reflectasteadyinfluxofinterestandinvestment.Entangle(NGL),witha19.1%pricehike;NaviProtocol(NAVX),upby17.9%;andSynesisOne(SNS),witha16.7%increase,allcontributetothediversegrowthobservedacrossdifferentplatformsandprotocols. ThereportalsohighlightsPangolin(PNG)andClearpool(CPOOL),whichclosedthedaywithgainsof16.6%and15.1%,respectively.TradingonestablishedexchangessuchasCoinbaseandBybit,thesetokenscontinuetobuildmarketresilience,showcasingthestrengthofmid-tierprojectsinthecurrentbullishtrend.PNG’smarketcapreached$59.3million,whileCPOOL’sstoodat$153.5million,highlightingtherisingvalueofprojectswithintheDeFiandliquiditymanagementsectors. PhoenixGroup’sdailygainerreportunderscoresanoverallpositivesentimentacrossthecryptomarket,withdiverseprojectsacrossDeFi,liquidityprotocols,anddecentralizednetworksshowingsignificantgains.ThesurgeinGURUandothertokenssignalsrenewedinvestorenthusiasm,potentiallyspurredbybroadermarkettrendsandincreasedtradingactivityonmajorexchanges.Asthemarketprogresses,investorsremainwatchfulforopportunitiesinbothestablishedandemergingprojects,withtoday’sgainerssettingapromisingtoneforupcomingmarketmovements. blockchainreporter.net

Asbroadermarketsentimentimprovesandtradingactivitygainsmomentum,RealWorldAssets(RWAs)altcoinsarealsowitnessingarally. Notablereal-worldassettokens,includingMaple(MPL),Clearpool(CPOOL),Parcl(PRCL),Chintai(CHEX),andLABSGroup(LABS),havedemonstratedsignificantgrowthinrecentweeksandareamongthetopcoinstowatchinNovember. Maple(MPL) MPL,thenativetokenofthedecentralizedlendingplatformMapleFinance,haswitnesseda39%pricegrowthoverthepastweek,makingitoneofthekeyRWA-basedaltcoinstowatchinNovember.Asofthiswriting,MPListradingat$24.85,itshighestsinceApril. MPL’srallyoverthepastsevendayshascauseditspricetocrossaboveits20-dayexponentialmovingaverage(EMA)andits50-daysmallmovingaverage(SMA).The20-dayEMAtrackstheasset’saveragepriceoverthepast20tradingdays,whileits50-daySMAmeasuresitsaveragepriceoverthepast50tradingdays. Whenanasset’spricecrossesabovethe20-dayEMA,itsuggestsashort-termbullishsentiment,potentiallysignalingthatbuyersareenteringthemarket,andmomentummaycontinueupward. MaplePriceAnalysis.Source:TradingView Acrossabovethe50-daySMAindicatesthepotentialstartofamedium-termuptrend,asthiscrossingsuggestssustainedbuyinginterest.Ifthisbuyingpressurepersists,MPL’spricewillclimbto$30,ahighlastreachedinMarch. However,anuptickinprofit-takingwillcausethealtcoin’spricetoplummettoward$19.73,wheremajorsupportlies.Ifthislevelfailstohold,MPL’svaluewilldropfurtherto$17.30. Clearpool(CPOOL) Clearpoolisadecentralizedcapitalmarketplatformthatconnectsinstitutionalborrowerswithdecentralizedfinance(DeFi)lenders.ItispoweredbyitsCPOOLtoken,whosevaluehasskyrocketedby32%inthelastsevendays,makingitanotherRWAtokentopayattentiontoinNovember. Asofthiswriting,CPOOL’sAroonUpLineis100%,confirmingthestrengthofitscurrentuptrend.TheAroonindicatormeasuresthestrengthanddirectionofatrend.WhentheAroonUpLinereaches100%,itsuggeststhatbullishsentimentisdominant,withbuyerspushingthepricehigherandachievingapeakwithinthemostrecentperiod. ClearpoolPriceAnalysis.Source:TradingView IfCPOOL’suptrendstrengthens,itspricecouldriseto$0.25,themostcriticalbarrierbetweenitscurrentvalueof$0.22andtheyearlyhighof$0.37.Asuccessfulbreakabovethisbarrierwouldsetitontracktoapproachthispricepeak. Parcl(PRCL) Parclisadecentralizedrealestatetradingplatform.Itsnativetokenhasrecordeda28%pricegrowthinthepastsevendays.ThegrowingdemandforthealtcoinisreflectedinitsrisingRelativeStrengthIndex(RSI),whichtracksmarketconditionstoidentifywhetheranassetisoverboughtoroversold. Atpresstime,PRCL’sRSIisinanuptrendat60.13.ThisRSIreadingindicatesstrongbuyingactivityandsuggeststhepotentialforanextendedrally. Ifthedemandforthealtcoinissustained,itwillattemptabreakabove$0.31,ahighitlastreachedinJune.Shouldbuyingpressureremain,PRCLwillcontinueitsrallytoward$0.46,wherecriticalresistancelies. ParclPriceAnalysis.Source:TradingView However,thisbullishprojectionwillbeinvalidatedifbearishsentimentgrows.Ifsellingpressuregainsmomentum,PRCL’spricewillfalltoitsall-timelowof$0.11. Chintai(CHEX) CHEX,theutilitytokenoftheChintaiNetwork,iscurrentlytradingat$0.30,markinga22%increaseoverthepastmonth.Movingaverageconvergence/divergence(MACD)readingssuggestthepotentialforanextendedpricerally,withCHEX’sMACDline(blue)positionedaboveitssignalline(orange). TheMACDisanindicatorthattracksanasset’spricetrendsandmomentum,identifyingpossiblebuyorsellsignals.WhentheMACDlinecrossesandholdsabovethesignalline,it’sconsideredabullishsignal,indicatingthatrecentpricemomentumisstrongerthaninthepast—oftenseenasabuysignalfortraders. ChintaiPriceAnalysis.Source:TradingView Ifbuyingpressurestrengthensandtheuptrendcontinues,CHEXmayattempttoretestitsyear-to-datehighof$0.42.However,renewedbearishsentimentcouldpushthepricedowntoakeysupportlevelaround$0.14. LABSGroup(LABS) LABSGroup,poweredbyitsLABStoken,fractionalizesrealestateassetsintodigitalshares,makingitanotableRWAtokentowatchinNovember. Thetokenhassurged14%overthepastweek,withitsBalanceofPower(BoP)indicatorcurrentlyat0.48,reflectingabullishbias.TheBoPmeasurestherelativestrengthofbuyersagainstsellers,withpositivevaluesindicatingbuyercontrolinthemarket. LABSPriceAnalysis.Source:TradingView Ifbuyingmomentumholds,LABScouldclimbto$0.00028,alevellastseeninJuly.However,reducedtokenaccumulationmaydrivethepricedowntowardthesupportlevelof$0.000075.…

Thetwo-phaseChangHardForkintroducesdecentralizedvotingandgovernancefeaturestostrengthenCardano’scommunity-leddecisions. Scheduledformid-October,Cardanonodev10willenableextensivetestingaheadoftheNovemberhardfork. PhasetwowillempowerCardano’sStakePoolOperators(SPOs)tovoteusingdelegatedstake,enhancingdecentralizedgovernance. Cardano’slatestnetworkupgrade,theChangHardFork,hasbeguntransformingtheblockchain’sgovernancestructureanddecentralizationfeatures.Knownasatwo-partprocess,theChangHardForkintroducesessentialupgradesthatsupportCardano’saimofdecentralization. 💥TheCardanoblockchain\'stwo-partChangHardForkisasignificantupgradetoenhancenetworkfunctionalityanddecentralizedgovernance.ThelaunchofthefirstphaseofChangHardForkbroughtcrucialimprovementssuchasempoweringtheInterimConstitutionalCommittee. The…pic.twitter.com/0QPIpvZDOp —EMURGO(@emurgo_io)October29,2024 Thefirstphase,Chang1,launchedonSeptember1,setthestagefortheproject’sInterimConstitutionalCommittee,whichwillplayacentralroleinCardano’sgovernancedecisions. Thesecondphase,Chang2,setforNovember2024,willintegratesubstantialgovernancetoolsintoCardano,requiringfivecriticalon-chainactionstoenhanceitsdecentralizedframework. TestingofCardanoNodev10StartsinOctober Tosupportthesecondphase,Cardano’sdevelopmentteamhasscheduledthereleaseofnodev10fortestinginOctober.Thistestingphasewillevaluatenetworkperformanceandstabilityacrossvariousenvironments.TheupgradepreparesCardanofortheNovemberhardfork,advancingitintothedecentralizedgovernanceeraofVoltaire. Thismeticulousapproachtonetworktestingreflectstheimportanceoftheupcominghardfork,whichwillsolidifythenetwork’sgovernanceprotocols.Nodev10issettocompletetheChangupgradebyoptimizingtheblockchain’sfunctionalityandpreparingitforthegovernancefeaturesexpectedinNovember. TheChang2upgradewillintroduceDelegateRepresentative(DRep)Voting,anewvotingmechanismaimedatempoweringcommunityparticipation.ThismechanismwillallowDRepstoactaskeygovernancerepresentativesfortheCardanocommunity.DRepsandSPOswillgainvotingpowerbasedontheirstake,playingamoreactiveroleinCardano’sgovernance. Theupgradeintroducestreasurywithdrawalcapabilities,supportingapprovedgovernanceactionsdirectlyfromCardano’streasury.ThisfunctionenablesthecommunitytoproposegovernanceactionsbymakingasmallADAdeposit,refundedafterthevotingperiod.ThesegovernanceactionswillbevotedonbyDRepsandSPOstoalignwiththeCardanocommunity’svision. cryptonewsland.com

Bitcoinnearsall-timehighat$71,086,fueledbymarketanticipationofU.S.electionresultsandapossibleTrumpvictory. Bitcoinopeninteresthitsarecord$41.7billion,signalingstronginvestorconfidenceandpositioningforpotentialpost-electiongains. Analystshighlighta“Trumptrade”narrative,withinvestorsbettingonBitcoin’ssurgeamidU.S.election-drivensentimentandvolatility. BitcoincontinuestorallyasspeculationovertheupcomingU.S.presidentialelectionreachesnewheights.AnalystsfromBitfinexhavereportedasurgeinBitcoinprices,withthecryptocurrencycurrentlytradingataround$71,086. $BTCvolatilityincoming📊 Geopoliticalevents,macrotrends,andthe“Trumptrade”meansmarketsarelikelytobevolatileoverthenexttwoweeks,accordingtothelatestBitfinexAlpha✅https://t.co/oiQbs0sNUfpic.twitter.com/W6KXzcDX1V —Bitfinex(@bitfinex)October28,2024 Consequently,thisincreasereflectsa4.9%jumpinthepast24hours,accordingtoCoinGeckodata.Thepriceisnowamere3.4%awayfromtheall-timehighof$73,700,recordedinMarch. Notably,theconnectionbetweenpoliticalshiftsandBitcoinpriceshasbecomeincreasinglyevident,withexpertspointingtothe“Trumptrade”narrativeasasignificantfactor.ThistrendhasdrivenincreaseddemandforleveragedBitcoinexposureasinvestorsanticipatemajorpricemovementsinthelead-uptotheelection. MarketAnticipatesPriceSurgewithTrumpLeadinginPolls Currently,formerPresidentDonaldTrumpholdsastrongleadoverVicePresidentKamalaHarrisonthedecentralizedbettingplatformPolymarket,withamarginof30%.Conversely,nationalpollingdatafromFiveThirtyEightindicatesthatHarrisleadsTrumpby1.5%. However,despitethesediscrepancies,thesentimentwithincryptomarketsappearstoalignwiththepossibilityofaTrumpwin,triggeringariseinBitcoininvestments.OpeninterestinBitcoinhasreachedanall-timehighof$41.7billionasofOctober29,asreportedbyCoinGlass.Thisriseinopeninterestiswidelyviewedasasignofgrowingmarketconfidence,withinvestorspositioningthemselvesforpotentialpost-electiongains. RecordOpenInterestSignalsHighMarketConfidence Besidesheightenedpricemovements,theincreaseinopeninterestreflectssignificantinvestoractivitywithinthecryptospace.AnalystsareobservingasteadybuildupinBitcoincalloptions,settomatureinlateDecember.Thisbuildupindicatesstrongsentimentforacontinuedpricerisewellintothefinalquarterof2024. Historically,increasedopeninteresthasoftenprecededsubstantialpriceactionwithinBitcoinmarkets,andthetrendappearstoberepeatinginthiscase.Thecurrentopeninterest,coupledwithelevatedcalloptionvolumes,pointstoamarketpoisedforpotentialgainsifBitcoinsuccessfullybreakspastitsall-timehighof$73,700. Post-ElectionMarketMovementsExpectedtoInfluenceBTC AccordingtoBitfinex,theupcomingelectioncouldfurtherimpactBitcoinasmarketparticipantsbraceforapost-electionsurge.AnalystshavenotedasignificantcorrelationbetweenBitcoin’spricemovementsandtheU.S.politicallandscape. Therefore,investorsarenowcloselymonitoringthepotentialimpactsofaTrumpvictory,particularlyasthecryptocurrencymarketshowssignsofpositioningforapossiblepricebreakout.AsBitcoinedgesclosertoitshistoricalpeak,marketobserversremainwatchful,anticipatingthepotentialimpactofelectionresultsononeofthemostcloselywatchedassetsglobally. cryptonewsland.com

Ethereumsurgedover5%to$2,618,signalingpotentialgainsifitbreaks$2,829resistanceamidrisingvolatilityandleveragedliquidations. TechnicalanalysisshowsEthereumconsolidatingwithinatriangularpattern,withabreakoutlikelyifitsustainsupwardmomentum. EthereumfacesincreasedcompetitionfromSolana,whichgained$10Mininflowslastweek,whileEthereumexperiencednegativecashflow. Ethereum(ETH)sawasignificantpriceincrease,climbingover5percenttoreach$2,618inearlyEuropeantradingonOctober29.ThisuptickcomesasBitcoin(BTC)achievedahighof$71,000,markinganotablerallyinthebroadercryptocurrencymarket. Notably,asEthereumconsolidatesnearacriticalresistancepoint,tradersandanalystsaremonitoringpotentialshort-termgains.Atpresent,Ethereum’smarketvaluationhoversaround$315billion,withitsdailytradingvolumeestimatedat$23billion. #ETH,warmingup..https://t.co/xITZT5Nqfvpic.twitter.com/QpigPDAOZc —ᴀʟᴛꜱᴛʀᴇᴇᴛʙᴇᴛꜱ(@AltstreetBet)October29,2024 Inthepast24hours,Ethereum’sleveragedmarketexperiencedapproximately$40millioninliquidations,primarilyinvolvingshorttraderswhowerepositionedagainstrecentupwardpricemovement.ThisliquidationactivitysignalsincreasedvolatilityintheEthereummarket,asinvestorsanticipatepossiblepriceshifts. TechnicalAnalysisSignalsPotentialBreakout Moreso,fromatechnicalanalysisperspective,Ethereumispositionedatthepeakofaweeklytriangularpattern,whichoftensuggestsanimminentpricebreakout.Thisconsolidationphasehascreatedanarrowtradingrange,reflectingacriticalpointofresistance.IfEthereumclosesconsistentlyabovethe$2,829mark,analystsbelievethiscouldestablishafoundationforamoresubstantialpricerally. Furthermore,Ethereum’spricemovementcontinuestoalignwithasignificantrisingtrendthathasbeendevelopingoverthepastyear.Thistrendlineactsasacriticalsupportlevel,reinforcingEthereum’slong-termgrowthpotential.Currentpriceactionindicatesabullishoutlook,yetsustainedgainswillrequireEthereumtoovercomeadditionalresistancelevels. EthereumCompetesWithSolanaAmidDecliningCashFlow However,despiteEthereum’srecentpricegrowth,itfacesheightenedcompetitionfromSolana(SOL),whichhasgainedtractionindecentralizedfinance(DeFi)applications.RecentreportsshowSolanainvestmentproductsattracted$10millionincashinflowslastweek,whileEthereumsawanegativecashflowincontrast. Additionally,Ether-basedspotETFsintheUnitedStatesreportedover$25millionincashoutflowsduringthepasttwoweeks,ledbyGrayscale’sETHE.TherivalrybetweenEthereumandSolanahasintensifiedasbothnetworksstrivetoexpandtheirecosystemsandattractinstitutionalandretailinvestors. Moreover,Ethereumremainsthedominantweb3networkwithover$49billionintotalvaluelocked(TVL)andastablecoinmarketcapof$84billion.However,Solana’sgrowingadoptionratescontinuetocapturemarketattention,posingcompetitiontoEthereum’sDeFidominance. cryptonewsland.com