Category: AI

IlCapoofCrypto,oneofthemostwell-knownanalystsinthecryptocurrencyworld,evaluatedthelatestsituationinthemarketinhisstatement. Accordingtotheanalyst,thereareseveralfactorsthatcouldtriggera“blackswan”eventinthecryptocurrencymarketaheadoftheUSElections.Accordingtotheanalyst,ifsuchaneventweretooccurbeforetheelections,altcoinscouldexperienceanaveragedropof35%.Thisdropcouldbefeltinmagnitudesof25%to35%forlarge-capcryptocurrenciesand40%to60%forsmall-capcryptocurrencies. Despitesuchapessimisticscenario,theanalystalsoexpressedsomepositiveviewsforcryptocurrencyfollowers. Accordingtotheanalyst,suchabearishscenariocouldberecordedasthelastdeclineforcryptocurrenciesbeforethestartofarealaltcoinseason.Theanalystsaidthatincasesuchabearishscenariooccurs,oneshouldbereadyandnotbeafraid. IlCapo,whowasonceoneofthemostbearishcryptoanalysts,gaveuphisviewsafterthelastbullrallyandannouncedthatheinvestedinvariousaltcoins. *Thisisnotinvestmentadvice. en.bitcoinsistemi.com

WASHINGTON,Oct26(Reuters)-TheBankofEnglandisreluctantlypressingonwithworktocreateaformofdigitalmoneyaccessibletothegeneralpublic,ascommercialbanksriskfailingtokeepupwithless-regulatedtechfirms,GovernorAndrewBaileysaidonSaturday. Bailey\'sremarksbuildonhislongstandingconcernsthathedoesnotwanttoseeday-to-daypaymentsorbanking-typeservicesshifttocryptocurrenciesorservicesfromtechcompaniesthatarelesssafeorprivatethanbanks. TheBoEandBritain\'sfinanceministryhavesaidtheywillnotmakeafinaldecisionbefore2025attheearliestwhethertogoaheadwithastate-backeddigitalpoundorcentralbankdigitalcurrency(CBDC),followingaconsultationwhichdrewwidespreadconcernsaboutprivacy. \"That(CBDC)isnotmypreferredoption,butit\'sonewecan\'truleout,\"BaileysaidattheGroupofThirtyinWashington,aforumforcentralbanksandcommercialbankers. WhileBritain\'selectronicpaymentinfrastructurealreadyprovidesfasttransferswithnoupfrontcostsforthepublic,futureformsofdigitalcurrencycouldoffermoreoptionsinareassuchasautomaticpayments. \"Commercialbankmoney,i.e.thebankingsystem,isthebesthomeforthatinnovation,\"Baileysaid. \"But...aretheytheonlygameintown?AttheBankofEnglandwe\'recontinuingtoprepareforaretailCBDC,becausetobefrankwearenotyetseeingenoughevidencethatinnovationwillhappeninthecommercialbankingsystem.\" Commercialbanksmightbeavoidinginnovationbecausetheymadetoomuchprofitfromthecurrentsystem,Baileysaid. \"Tobeparticularlyfrankaboutthis,iftherentsthatarebeingearnedfromthe\'rails\'(paymentsystems)acttoinhibitinnovationandacttoinhibitcompetition,thatiswhy...weneedaretailCBDConthetable,\"Baileysaid. reuters.com

FTXTradingLtd.hasreacheda$228millionsettlementwithBybitFintechLtd.toendthelegalbattlebetweenbothentities.ThismovewillallowFTXtorecoverassetsfromBybit’sexchange.Aspartofthedeal,thedefunctexchangewillgetback$175millionindigitalassetsplussell$53millioninBITtokenstoBybit’sinvestmentarm,MiranaCorp. ThesettlementcomesasFTXrecentlyreceivedcourtapprovalforitsbankruptcyplanwhichallowedittorepaycustomersusingupto$16.5billioninassetsrecoveredafteritshistoriccollapse.ThebankruptcyjudgeJohnDorseystatedthatFTX’ssuccessmadeitamodelcaseforaverycomplexbankruptcyproceeding. FTXlands$327MwinoverBybit Accordingtoreports,FTXmovedaheadtoasktheUSBankruptcyCourtfortheDistrictofDelawaretoacceptasettlementitreachedwithBybiandothers.However,thedealwillallowthecollapsedcryptoexchangetorecoverausefulamountoffunds. FTX’ssuitclaimedthatMiranawithdrew$327millionjustbeforetheexchange’scollapsewhileotheruserswerelockedout.ThesettlementsuggeststhatMiranacanclaimupto75%ofitsaccountbalancespre-bankruptcy.Itcangenerategoodnetsavingsforthedebtors’estates. ItaddedthatSBF’sexchangehadstatedthedealwouldallowitto“recoversubstantiallyeverythingtheysought,”securingfundsforstakeholdersandskippingthecostsanduncertaintiesofinternationallitigation. ItsCEOJohnJ.RayIIIispushingforwardwiththewind-downplan.Ithascourtapprovaltodistributeatleast$12.6billiontocustomerswhohavebeenwaitingfortheirtrappedassets. FTXmovestopayout$16.5B FTXhasreceivedcourtapprovalforitsbankruptcyplan,allowingittorepaycustomers.Theplatformisnowsettorepay98%ofitsuserswithaccountsunder$50,000within60daysoncetheplanisactive. Theplan,builtonsettlementswithcustomers,creditors,USagencies,andforeignliquidators,prioritizesrepayingcustomersbeforeothercompetingclaims. Meanwhile,theexchangeisstillnegotiatingwiththeDOJover$1billionseizedduringtheBankman-Friedprosecution.Thiscouldyieldupto$230millionforFTXshareholders. Withanestimated$14.7billionto$16.5billionavailableforrepayment,theexchangeexpectstocoveratleast118%ofcustomeraccountvaluesasofitsNovember2022bankruptcyfiling.FTX,onceatopcryptoexchange,collapsedwhenitwasrevealedthatSamBankman-FriedusedcustomerfundstocoverAlamedaResearch’sriskybets. cryptopolitan.com

Accordingtocryptocurrencyonchaindata,twomarketmakercompaniesmadeanotablesaleofanaltcoininthelastday. Accordingtothedata,Wintermutecompanydeposited2.10millionArbitrum(ARB)tokensworth$1.16milliontothecryptocurrencyexchangeBinanceafewhoursago. Ontheotherhand,followingWintermute,anothercryptocurrencymarketmakercompany,GSR,alsotransferred4.71millionARBtokensworth$2.57milliontoBinance. Wintermutecurrentlyhasapproximately$1.68millionworthofARBremaining,whileGSRhasatotalof$3.03millionworthofARB. Followingthetransfers,theARBpricelostapproximately6%ofitsvalue. Thecryptocurrencymarketcontinuestoloseblood,especiallyonthealtcoinside.Inthelastday,thetotalcryptocurrencymarketvaluedecreasedby2.29%andfellto$2.27trillion.Ontheotherhand,thebiggestdeclinesamongthetop100cryptocurrencieswereAerodromeFinance(AERO),Worldcoin(WLD)andFlokiInu(FLOKI). ThosethatremainedinthegreenzoneinaredweekwerelistedasGoatseusMaximus(GOAT),Safe(SAFE)andApeCoin(APE). *Thisisnotinvestmentadvice. en.bitcoinsistemi.com

OnFriday,Oct.25,2024,Bitcoin’snetworkhashrateclimbedtoanewall-timehigh,reaching736.81exahashpersecond(EH/s)—amilestoneunmatchedinthenetwork’shistory. Bitcoin’sHashrateHitsHistoricHigh—HowCloseAreWetotheZettahashEra? Bitcoin’scomputingpowerhashitnewheights,withover67EH/saddedtothenetworkinjustninedays.Therecord-breaking736.81EH/s,achievedonFridayevening,bringsBitcoinagreatdealclosertotheanticipatedzettahashera.Insimpleterms,onezettahashpersecond(ZH/s)isacolossal1,000EH/s,meaningthis736.81EH/speakisnow0.73681ZH/s. Source:Seven-dayhashratefromhashrateindex.com. BackinMarch2023,SamWouters,headofmarketingandcontentatthebitcoinfirmRiver,predictedthatthezettahashmilestonemightarriveby2025.Atthatpoint,thehashratehadreached400EH/s,andhehighlightedthatat“thecurrentgrowthratein2023,we’dreachazettahashbytheendof2025.”ThehashrateseemstobetrackingWouters’predictionperfectly. Source:hashrateindex.comonOct.25,2024. Justthreemonthsago,onJuly25,2024,thehashratewassittingat677EH/s,andsincethen,it’sbeenanythingbutsteady,withplentyofupsanddowns.Averagingout,thenetworkhasexpandedby0.66EH/sperdayoverthepast90days.Therefore,iftheBitcoinnetworkcontinuestogrowatanaveragerateof0.66EH/sperday,itwillreach1,000EH/sor1ZH/sonoraroundNovember28,2025. Azettahashisanastronomicalfigure,roughly1sextillion(1,000,000,000,000,000,000,000)hashespersecondofSHA256power.Toputitintoperspective,that’sclosetotheestimatednumberofstarsintheobservableuniverse.Incomputing,asextillionbytesequatestoonezettabyte(ZB),afigurethat’sincreasinglyrelevantasglobaldatasurges.Bynextyear,Bitcointoowillbedealinginnumbersofthisscale. AsBitcoinedgesclosertothezettahashera,thenetwork’simmensecomputationalgrowthshowcasestheexpandingglobalcommitmenttothisdecentralizedtechnology.Witheachnewhashratepeak,Bitcoinstrengthensitssecurityandresilience,drawingthenetworknearertoanunprecedentedscaleofprocessingpower.Theshifthintsatanevolvingdigitallandscapethatalignswiththeseastronomicalnumbers. news.bitcoin.com

Aptosispoisedtosecureitsleadastheblockchainnetworkwiththehighestyear-over-yeargrowthinDEXtradingvolumein2024.Thisisdespitealittleover8weekslefttoconcludetheyear. Aptoshasachievedover3420%growthinDEXtradingvolumewithinitsecosysteminthelast12months.ThisplaceditinpollpositionaccordingtoAlphaGrowth,basedondatafromArtemisandCryptoRank.xyz. Top10BlockchainsbyYoYDEXTradingVolumeGrowth.@Aptos+3.432%@solana+1.789%@GnosisDAO+486%@flow_blockchain+391%@Starknet+380%@Celo+370%@StellarOrg+316%@Fuse_network+269%@osmosiszone+223%@trondao+175%pic.twitter.com/J85s80E6Dv —AlphaGrowth(@alphagrowth1)October24,2024 EvenmoreimpressivewasthatAptosalmostdoubledtheDEXtradingvolumegrowththatSolana,therunner-upachievedduringtheSameperiod.TherankingandachievementhighlightedthebusystateofAptosecosystem. -Advertisement- AptosTVLSoarsToNewHistoricHigh Thelatterwasevidentinthenetwork’stotalvaluelockedwhichhasachievedparabolicgrowthinthelastfourmonths.Toputthingsintoperspective,AptosTVLhada4-monthlowof$298.31millionon5July. Aptosvolumeandstablecoinmarketcap/Source:DeFiLlama Thenetwork’sTVLfigurerecentlysoaredtoanewall-timehighof$873.82millionon24October.AptosTVLthereforegrewmoreinthelast4monthsthanitdidbeforethatsinceitslaunch. Theperformancereflectstherobustrateofadoptionthatthenetworkhasachievedsofarthisyear.TVLgoeshandinhandwithstablecoingrowthforhealthyliquidityflowswithintheecosystem. Unsurprisingly,AptosstablecoinmarketcapalsosoaredtoanewATHof$271.37millionon24October. Aptosvolumeandstablecoinmarketcap/Source:DeFiLlama Aptoson-chainvolumehasalsoenjoyedexplosivegrowthsofarthisyear.Dailyvolumerecentlyhitahistorichighabove$81millioninmid-October.Animpressivefigureconsideringthatthedailyon-chainvolumewaslowerthan$2millionon1January2024. APTontrackforarecoveryafterabearishQ22024 AptosnativecryptocurrencyAPThasbeensubjecttolongtermpriceactionswings.Itspentmostof2023onabearishtrendbutachieveda303%upsidefromOctober2023toMarch2024. Thecryptocurrency’slatestswinglowresultedina77%pullbackfromMarchhighs.ItenteredrecoverymodefromAugustlowsandhassinceachieveda158%rallytoitslatestlocalpeakat$11.24. APTpriceaction/Source:TradingView Despiteitsrecentrecovery,APT’slatestpricelevelwasstillalongwayfromitshistoricall-timehighs.Thenetwork’slatestperformancemayunderscoreitsattractivenesstopotentialinvestors.ThisisbecauseitsgrowingDeFiecosystem. APT’slatestrallyalsodrewsomeparallelswithitsperformancefromOctober2023toMarch2025.Ifhistoryrepeatsorrhymes,thenthecryptocurrencycouldbeonthevergeofanotherexplosiverun-upinthenext2months. thecoinrepublic.com

BeyondBitcointrend,oneofthemostimportantconversationsonWallStreetnowisthepotentialFedratecutinNovember.WiththeUSeconomicdatacominginbelowexpectations,thereisahigherlevelofcertaintyofaratecutnextmonth.Thetiming,however,hascreatedanewconversationonwhatthismightmeanforthebroadermarket.

BetweenOct.19andOct.26,recentdatarevealsthatnon-fungibletoken(NFT)salesslid7.11%lowerthanthepriorweek. TopNFTCollectionsoftheWeek:Froganas,MythosDmarket,andBAYCLeadSales Thisweek’stotalNFTsalesclockedinat$89.26million—adipof7.11%fromlastweek’snumbers.Despitethisdecline,NFTbuyernumberssurgedby42.20%,whilethepoolofdigitalcollectiblesellersgrewby52.55%. LeadingtheblockchainpackinNFTsaleswasEthereum,whichrecorded$31.20millionoverthepastsevendays,markingaslight2.96%decline.Solanarankedsecondwith$18.42millioninsales,upby12.39%accordingtocryptoslam.iometrics. Seven-daystatsbetweenOct.19andOct.26,2024,accordingtocryptoslam.iodata. Bitcoinclaimedthethirdspot,logging$14.37million,whichreflectsasignificant34.02%decreasefromthepreviousweek.Thisweek,Solana’sFroganasledtheNFTpack,snaggingthetopspotwitha$4.98millionhaul—upbyanimpressive123%comparedtolastweek. FollowingcloselybehindthecompilationwasMythos’(Polkadot)Dmarket,amassing$4.92million.InthirdplacewasEthereum’sBoredApeYachtClub(BAYC),earning$3.96millionandshowinga110.90%boost. Othercollectionsmakingdoubleandtriple-digitwavesincludeMutantApeYachtClub(MAYC),Cryptopunks,andPudgyPenguins.ThepriciestNFTsalewenttoanEthereum-basedAutoglyph,fetching$495,000justthreedaysago. Thesecond-highestsalewasParaluniPerpetualBond#966onBNB,whichbroughtin$150,610thispastweek,andinthirdwasaBitcoin-basedUncategorizedOrdinal,sellingfor$101,621sixdaysago.Thisweek’svariedsalesexemplifytheevolvingecosystemofdigitalassets,wheresurgingbuyerinterestcontrastswithanoveralldeclineintotalsales. Ethereumsawaslightdip,Solanacontinuedtoclimb,andBitcoinfacedasteepdrop,indicatingthatwhilemajorblockchainsheldtheirground,freshcollectionsarecapturinggrowingattentionandreshapingthecompetitivefield.Theseshiftssuggestanadaptationinbuyerandsellertactics,possiblyreflectingapreferencefordifferentblockchainecosystems. WithstandoutcollectionslikeFroganasandBAYCridingthewaveoftriple-digitgrowth,itseemscertainprojectsareeffectivelytappingintothecurrentexcitement.Yet,asalways,theNFTsectorremainsasdynamicasever,withinterestlevelsmovingupanddowninresponsetothelatesttrends. news.bitcoin.com

TheCentralBankofBrazilproppeduptokenizationand“openfinance”askeyelementsofthefuture’sfinancialsystem.InapanelpresentationbeforetheIMFandtheWorldBank,thebank’spresidentstatedthattheintersectionbetweenthesehadbeenunderestimated. CentralBankofBrazilConsidersTokenizationPotential‘Underestimated’ InarecentpanelpresentationheldinWashington,theCentralBankofBrazildelvedintothepossibilitiesoftokenizationanditsbenefitstothefinancialsystemwhenintegratedwithotherelements. CentralBank’sPresidentRobertoCamposNeto,whoparticipatedinthepanelbeforetheInternationalMonetaryFund(IMF)andtheWorldBank,stressedthatthepossibilitiesoftheintersectionoftokenizationandelementslike“openfinance”hadbeenunderestimated,proppingupthepotentialofthesesolutions. Openfinanceinvolves“sharingdata,products,andservicesbetweenregulatedentities”withuserpermission.Theseproceduresarefocusedonencouraginginnovationandpromotingcompetitiontofacilitatetheimplementationofnewbusinessmodels. Atthepresentation,CamposNetoexplainedthattokenizationallowedtobringprogrammablepayments,andbroadopenfinancetogetherasbuildingblocks,“exploringthecapacitytohavethisfinancialmarketplaceinasingleenvironment.” Highlightingtherelevanceoftokenizationfortheconceptofbankingbalancesheetsandoperations’efficiency,CamposNetodeclared: Bankswillslowlymovefromlookingatthebalancesheetonanaccountbasistolookingatitona‘token’basis,andwethinkthathasalotofefficiencyandproductivity.Tokensarebetterforbankstomanagerisks,tomanagecollateralandfunding. Tokenizationandstablecoins,twomainelementsofthecryptocurrencysystem,arepartofthebank’sregulatoryschedulefor2025.CamposNetopointedouttheadvantagesofdigitalassetsbefore,claimingthesehad“thepotentialtogenerateenormousefficiencygainsinpaymentandcreditservicesandpromotetheexpansionofthecapitalmarket.” Readmore:TokenizationandStablecoinsClosetoBeingRegulatedinThisLatamGiant Thebankhasbeenattheforefrontofinnovation,hintingatnewtechnologieslikeartificialintelligence(AI)aspartofDrex,itscurrentcentralbankdigitalcurrency(CBDC)project. Readmore:CentralBankofBrazilHintsataFutureIntegrationofAIIntoItsCBDC TofollowallthelatestdevelopmentsincryptoandtheeconomyinLatinAmerica,signupforourLatamInsightsnewsletterbelow. news.bitcoin.com

ShibaInu(SHIB),thepopularmeme-inspiredcryptocurrency,hasexperiencedasignificantdiprecentlyfollowingabroadermarketcorrection.Despitethissetback,theTokenhassoaredbyanimpressive113%overthepastyear.