Category: AI

Yesterday,suspiciousactivityobservedinoneoftheBitfinexhackerwalletsseizedbytheUSbecameahottopicinthecryptocurrencyworld. Approximately$20millionworthofstablecoinswerefirstsenttoapreviouslyunidentifiedwallet,whichwasthenconvertedtoEthereumandtransferredtoanobscurecryptoexchange. Therewerespeculationsthattheincidentwasahack,andcryptocurrencydetectiveZachXBTalsosaidthatthetransferscouldhavebeenmalicious. Butinterestinglyenough,todayasignificantportionofthefundswerereturnedtocryptowalletscontrolledbytheUSgovernment.With$19.3millionreachingofficialwallets,itappearedthat88%ofthefundshadbeenrecovered. However,inthenewtransfersmademinutesago,thefundswerethistimetransferredtoadifferentcryptocurrencywallet,providingstrongevidencethatthesecouldbeinternaltransfersratherthanahack. However,thereisnoofficialstatementyetastowhetherthetransfersinquestionwerestolenandreturnedafterahackingincidentorwhethertheyweretransferredforanotherpurpose. *Thisisnotinvestmentadvice. en.bitcoinsistemi.com

It’sbeenaneventfulmonthforlongtimeBitcoinCoredeveloperPeterTodd,whowasrecentlyaccusedofbeingpseudonymousBitcoincreatorSatoshiNakamotoinanewHBOdocumentary. Despitevigorouslydenyingtheclaims,bothon-camera,andoff,ToddtoldDecryptonFridaythatbeingpubliclybrandedastheelusivegeniussittingon$74.4billionworthofBitcoinhasforcedhimtogoevenfurthertodefendhimself. “Ihavetakensomesecuritymeasures,”Toddsaid.“Butit’snotagoodideatosayexactlywhatI’vedonepublicly.Besttokeepthebadguysguessing.” TheearlyBitcoincontributoradded,however,thatheiscertainlynotinhiding,norhashebeen,asarecentWiredstorysuggested.Infact,ToddattendedaBitcoinconferenceinLugano,Switzerland—whereastatueinhonorofNakamotowasunveiled—todayandsaysheplanstospeakatfivemoreeventsaroundtheworldinthecomingweeks. TherecentWiredarticleclaimingI\'m\"inhiding\"wasquitetheexaggeration...https://t.co/pQEtUG9K1H —PeterTodd(@peterktodd)October23,2024 Allinall—andperhapssurprisingly—Toddsayshehasn’tyetbeenspottedorbadgeredinpublicbyanyonewho’srecognizedhimfromtheHBOdocumentaryinwhichheappears,“MoneyElectric:TheBitcoinMystery.” “Onethingthatprobablyhelpedthatwasrefusingtodoanyaudio/videointerviewswithanyofthe(many)journalistswhoaskedmeto,”Toddsaidviaemail. Toddis,itshouldbenoted,nostrangertopublicscrutiny.Thoughthisiscertainlythemostattentionhe’severreceivedasapotentialSatoshicandidate,theblockchaindeveloperwasinvolvedwithBitcoinfromitsinfancyandhasbeenpreviouslyfloatedaspotentiallyresponsibleforsecretlycreatingtheworld’sfirstcryptocurrency. CullenHoback,thedirectorof“MoneyElectric,”arguedinhisfilmthatseveralpiecesofcircumstantialevidencepointedtoTodd’sidentityasSatoshi,includingallegedsimilaritiesbetweenbothindividuals’writingstyles.HobackassertedthatTodd’sexperimentsasateenagerwiththeconceptofdigitalcurrencywereespeciallysuspicious,aswasablogpostToddauthoredthatHobackclaimswasaccidentallymadeonthewrongaccount—andshouldhavebeenpostedbySatoshi. Manyinthecryptocommunity,however,weren’tconvincedbythosearguments.WhenToddwaspresentedwiththembyHobackattheclimaxofthedocumentary,heimmediatelydismissedthemas“ludicrous.” AfterTodddeflectedclaimsthathewasinhidingthisweek,HobacktooktoTwittertoarguethateventhatassertionrevealedthedeveloper\'shidden,Machiavellianscheming. \"PeterToddtellsWiredhe\'sgoneintohiding,\"Hobackposted.\"ThenhemocksWiredforrunningwiththisnarrative,makinganappearancetodayonstage.\" \"Asitsauthordeftlywrote,\"Hobackcontinued,quotingtheWiredpiece.\"\'JustasTodd\'s\'trolling\'insulateshim,italsoexposeshim.\'\" EditedbyAndrewHayward decrypt.co

RippleCEOBradGarlinghouseaddressedkeyconcernsabouttheU.S.SecuritiesandExchangeCommission(SEC)anditsongoinglegalbattleswiththecryptoindustryinarecentinterviewwithjournalistEleanorTerrett. ThemeetingfocusedontheSEC\'scross-appealregardingthedefinitionofaninvestmentcontractundertheSecuritiesActanditsimplicationsfortheindustry. GarlinghousewasrespondingtoinvestorAnthonyPompliano’squestion:“Ifcryptocurrenciesweretobeconsideredaninvestmentcontract,wouldthatchangetheclassificationunderwhichpeoplelikeCoinbaseandothersallowinvestmentcontractsontheirplatforms?” “IftheSECprevailsatthispoint,itwouldbeaterriblesituationfortheindustry.Itwouldjustpushmoreofitoffshore,”Garlinghousewarned,citingthepotentialforregulatoryramificationstopushcryptoinnovationawayfromU.S.ports. PomplianoalsopressedGarlinghousetooffersomethingpositiveaboutSECChairmanGaryGenslerortheagency’sroleinthecryptocurrencylandscape.Garlinghouse’sresponsewasstriking:“TherewillbeanewSECchairman.” ThedebatecontinuedwithPomplianobringinguptheSEC’sapprovaloftheCoinbaseIPOandBitcoinETFs,whichhecontrastedwiththeagency’sotherwisehostileapproachtothecryptoindustry.Garlinghousedidn’tholdbackinhiscriticism:“TheyapprovedtheETFwithalotofsquealing.Theyweredraggedthroughcourt.Theywereforcedtodothis,andifthey’retakingcreditforapprovingtheBitcoinETF,that’sbullshit.” Despitetheregulatorychallenges,GarlinghouseexpressedoptimismaboutRipple’sgrowthoverthenext12to18months,notingthatinstitutionalinteresthasincreasedafterRipple’srecentSwellevent,wheretalkswereheldwithsomeoftheworld’slargestbanks. “Andit’snotjustaboutRipple’spaymentflows,”Garlinghousesaid.“We’reinthecustodybusinessnow,we’reevengettingintothestablecoinbusiness.There’salotofreasontobeoptimistic.” *Thisisnotinvestmentadvice. en.bitcoinsistemi.com

Solana(SOL)hasshownremarkablestrengthinrecentweeks,surgingby32%overthepastfifteendays.ThisimpressivepriceactionhaspositionedSOLasoneofthetop-performingassets,outpacingBitcoinandmanyotheraltcoins. AnalystsandinvestorsareincreasinglyoptimisticaboutSolana’spotential,withmanyforecastingcontinuedupwardmomentumintheweeksahead.Notably,prominentinvestorCarlRunefeltrecentlysharedatechnicalanalysisonSOL,highlightingabreakoutfromabullishpatternthatcouldsignalmassivegainsforthecryptocurrency. Withthisbreakout,priceactionremainsfirmlybullish,indicatingthatthenextmajortargetforSOLisaroundthe$185level,whereitwillencounterlocalsupply.Ifmomentumholds,Solanacouldsoonchallengethiskeyresistance,furthersolidifyingitsplaceasaleaderinthecurrentmarketcycle. SolanaBreakingOutOfCup&HandlePattern Solanaisbreakingoutfromaclassic“Cup&Handle”pattern,oftenassociatedwithstrongbullishmoves.ThispatternhascaughttheattentionoftopanalystCarlRunefelt,whorecentlysharedhistechnicalanalysisonX,indicatingthatSolana’srecentpriceactionalignswithabreakoutfromadescendingchannel. AccordingtoRunefelt,thissetupsignalsthatSolanacouldbereadyforasignificantupwardmove.Hesharedachartwithapotentialpricetargetof$370,suggestingasubstantial115%surgefromcurrentlevels. Runefelt’soptimismstemsfromtheCup&Handlepattern,wherethepriceconsolidatesafteranuptrendandthenformsasmalldip(thehandle)beforebreakingout.Thispatternisknowntoattractstrongbuyerinterest,representingaperiodofconsolidationandmomentumbuilding. However,whilethebreakoutispromising,itmaytakesometimetofullyplayout,astheentirecryptomarketappearstosettlebeforeitsnextsignificantmove.Solanahasconsistentlyoutperformedinthiscycle,withpriceactionandvolumereflectingsustainedinvestorinterest. WithSolanapushingthroughkeyresistancelevelsandestablishingasolidfoundation,thepotentialforabullishcontinuationishigh.IfthebreakoutconfirmsandSolana’smomentumholds,thenextweekscouldseeSOLpushingintonewheights,solidifyingitspositionasatop-performingaltcoinandmeetinginvestors’bullishexpectationsforsubstantialgainsahead. SOLTestingCrucialSupply Solanaistradingat$171,maintainingastronguptrendwithawell-definedbullishstructureoverthepasttwoweeks.Thislevelrepresentsakeydemandzonethatpreviouslyactedasresistance,signalingapotentialforhighergainsifthepriceholdssteady.Acontinuedholdabove$171wouldsupportfurtherbullishmomentum,potentiallypushingSOLtowardthenextsignificantsupplyareaat$185. However,shouldSOLlosethe$171support,aretracetoaround$160islikely.Thislevelhasbeenpivotalinthepastweeks,servingasastrongresistancepointthatcappedpreviouspriceattemptstorise,creatingasolidfoundationforrenewedbullishinterest.Amovedownto$160wouldn’tnecessarilybreaktheoveralluptrendbutwouldofferanopportunitytoconsolidatebeforethenextpushhigher. Asinvestorsandtraderswatchtheselevelsclosely,the$171markwillbeanimmediategaugeofstrength.Holdingaboveitkeepstheuptrendintact,whileadipto$160wouldstilloffersupportforSolana’slonger-termbullishoutlook.SOL’sresilienceintheselevelsreflectstheoptimismsurroundingtheasset’spotentialintheweeksahead. FeaturedimagefromDall-E,chartfromTradingView newsbtc.com

AgroupofscammersconvictedinanAustriancourtforoperatingafraudulentcryptoschemespenttheirill-gottengainsfuelingtheirlifestyles,includingbuyingasharktank,avilla,privatejetrides,aluxurycar,partiesinclubsandmore. AccordingtoanOct.23reportfromAustriannewsoutletHeute,thecryptofraudsnaredabout40,000peopleandnettedthescammersabout$21.6million(20millioneuros). VictimswerepromisedtheirfundswouldbeusedtogeneratehighreturnsthroughinvestmentsinEXWWallet,theEXWcryptotoken,andreal-estateprojects. EXWWalletlaunchedinlate2019,promisingholdersofEXWtokensa0.1%to0.32%dailyreturnontheirinvestment.However,thewholeschemecollapsedin2020onlyafewmonthslater. InSeptember2023,AustrianprosecutorsinitiallyindictedeightofthepeopleinvolvedinEXWforseriouscommercialfraud,moneylaundering,criminalassociationandoperatingapyramidscheme;morepeoplewerechargedinthefollowingmonths. OnOct.23,aKlagenfurtRegionalCourtconvictedfiveofthepeopleinvolvedinthescheme.JudgeClaudiaBandion-Ortnersentencedtwoofthedefendantstofiveyearsbehindbarswithoutparole,andtwoweresentencedto30months. Onedefendantreceived18monthsofprisontimefortheirroleinthescam.Anotherfivewereacquitted.Theeleventhdefendantwasabsentfromcourt.Somearereportedlyplanningtoappealtheirsentences.Previousconvictionsofthreedefendantsarebeingcountedtowardstheirsentences.ThegroupwasreportedlymadeupofnineAustriancitizens,oneItalianandoneCroatian. InvestigationresultedinAustria’slargestfraudtrial Heutebilledthetrialas“Austria’slargestfraudtrial.”Ittookjustoverayear,with60daysincourt,300hoursofnegotiations,and3,000filecomponents. ProsecutorCarolineCzedik-Eysenbergsaidtheinvestigationwasmadesignificantlymorecomplicatedbecausethescammers’headquarterswasabroad,incountriesliketheUAEthatdon’thaveextraditionagreementswithAustria. Thefraudstersalsousedfrontcompanies,communicatedviaTelegram,whichdoesn’tshareusers’datawithauthorities,andhadaccountsspreadacrossmultiplejunctionsworldwide. Moneywasalsoexchangedoncryptoplatforms,andsomeofthestolencashwastransportedtoAustriainplasticbags. Someoftheaccusedfledabroadbeforetheycouldbecaught.Othersturnedthemselvesinvoluntarily. Prosecutorsarguedscammersfraudwasplannedfromthestart Czedik-Eysenbergsaidthefraudwasplannedfromthebeginning,andthedefendantsneverintendedtofollowthroughontheirpromisestoinvestors. “Therewereneveranyprofitableprojects,andthatwasneverplanned.Theywereonlytheretoattractcustomers,”shesaid. Anattorneyactingforoneofthedefendants,PhilippTschernitz,arguedthathisclientneverintendedtodefraudanyone;theschemebecametoobigforhimtohandle. Tschernitzsaidhisclient“investedalotofworkandplannedtomakeprofitswithvariousassets.” Someoftheaccusedinthiscasearealsobeinginvestigatedforacannabis-relatedfraudcasewhereit’salleged$17.2million(16millioneuros)wasstolenfromover17,000victims. cryptopolitan.com

Bitcoinwhalesreachahighof1,678entities,themostsinceJanuary2021. RetailBitcoinholdingsgrowbyonly1KBTCin30days,ahistoriclow. Bitcoinfuturesopeninterestpeaksat$40.5billiononOctober21. Inanoteworthydevelopmentforcryptocurrencyenthusiasts,thenumberoflargeBitcoinholders,commonlyknownaswhales,hasreacheditshighestlevelsinceJanuary2021.DataprovidedbyGlassnode,inconjunctionwithinsightsfromAndréDragosch,theheadofresearchforEuropeatBitwise,showsthesewhalesnownumber1,678.ThissignificantriseinwhaleentitiesunderscoresagrowingconfidenceamongseasonedinvestorsaboutBitcoin’sfuturemarketperformance. BREAKING:Totalnumberof#BitcoinwhalesjustreachedthehighestlevelsinceJan2021!🐳 Latestdataby@glassnodeshowthatthereare1,678entitiesthatareconsideredtobewhales. Whalesaredefinedasnetworkentitiesthatcontrolatleast1kBTC. NewATHsincoming?pic.twitter.com/q49AeUDWj2 —AndréDragosch,PhD|Bitcoin&Macro⚡(@Andre_Dragosch)October23,2024 Theretailandinstitutionaldynamicsareoppositetothewhalepopulationgrowthasitremainedstagnantascomparedtothewhalepopulation.Only1,000moreBitcoinshavebeenaddedtoretailholdingsoverthepast30days.Comparedtobiginvestors’aggressiveacquisitionstrategies,thispaceisslow.Entitiesholding1,000to10,000Bitcoinsasof2024havecollectivelyadded173,000Bitcoins,dwarfingthe30,000Bitcoinsbreadedbyretailinvestors. Thesurgeinwhaleaccountscoincideswitharobustuptakeinalternativeinvestmentvehicles,suchasU.S.-listedspotETFs,whichhavealsobeengainingtractionamonginvestors.Thistrendisapositivesignforthecryptocurrency,suggestingabroaderbaseofinvestorconfidenceandapotentialincreaseinmarketliquidity. Inparalleltothegrowthinwhalenumbers,thederivativesmarketisalsowitnessingunprecedentedengagement.AsofOctober21,openinterestinBitcoinfuturesreachedarecordhighof$40.5billion.TheChicagoMercantileExchangeholdsthelargestshare,followedbynotableplatformslikeBinanceandBybit.Thisspikeinopeninterestisacriticalindicatorofvibrantmarketactivity,potentiallysettingthestageforsignificantpricemovementsasinvestorpositionsconsolidate. OutlookandPredictionsDespitechallengessuchasrisingU.S.Treasuryyieldsandastrengtheningdollar,whichrecentlydampenedBitcoin’srunpast$69,000,marketsentimentremainslargelybullish.Analystsareeyeingfuturepricelevelsaround$80,000to$100,000,supportedbyactiveoptionstradingonmajorexchangeslikeDeribit. cryptonewsland.com

JeffParkofBitwiseprojectsBitcoincouldreach$92,000ifDonaldTrumpwinsthe2024U.S.presidentialelection. Trump’scampaignpromisestomaketheU.S.thegloballeaderincrypto,possiblyderegulatingandfosteringgrowth. OpinionslikethosefromMarkCubansuggestthatanypotentialcryptosurgefromaTrumpvictorycouldbeshort-lived. AnalystshavebeeneagerlypredictingamassiveimpactonBitcoin’spricebasedonwhowins,andcryptocurrencymarketshavecollidedwiththeU.S.presidentialelections.JeffPark,HeadofAlphaStrategiesatBitwise,haspredictedthatBitcoincouldpeakat$92,000ifTrumpgetsreelected.ThispredictionisgroundedinadetailedanalysisofbettingtrendsandBitcoin’shistoricalpricemovementsinresponsetopoliticalevents. Charting$BTCpriceagainstTrump’sodds(via@Polymarket)from8/15to10/20revealssomewildswings—particularlywhenHarrisandTrumptookturnsleading.Byapplyingmergerarb-styleprobabilitymath,IprojectaTrumpvictorycouldpushBTCto~$92,000 Takethatasyouwillpic.twitter.com/OGy8M3Vju1 —JeffPark(@dgt10011)October22,2024 Park’sprojectionsarebasedonTrump’scurrentoddsondecentralizedbettingplatformslikePolymarketandananalyticalapproachsimilartomergerarbitrageprobabilitycalculations.HenotesthatTrump’spro-cryptopoliciesandcommitmenttoderegulatingthesectorcouldcatalyzethispotentialpricesurge.Thecryptocommunityisparticularlytunedintotheelection.TrumphaspledgedtomaketheU.S.the“cryptocapitaloftheworld”anddismissSECChairGaryGensler,whichcouldfosteramorefavorableregulatoryenvironment. CampaignContributionsandCryptoPolicies Thecryptoindustry’sinvolvementinpoliticalfundinghasbeennoteworthythiselectioncycle.APACsupportingDonaldTrumphasreportedlyaccumulatedapproximately$7.5millionincryptocurrencydonations.ThisalignswithTrump’sstrategytoappealtocryptoinvestorsbypromisingsignificantregulatoryreforms.Thesector’spoliticalcontributionshavesurged,showingamorethantenfoldincreasecomparedtothepreviouspresidentialcycle,withmajorplayerslikeCoinbaseandAndreessenHorowitzemergingaskeycontributors. Thiselection’sfundingdynamicsunderscorethegrowinginfluenceofcryptocurrencyinpoliticalspheres.Asdigitalassetsbecomemoreintertwinedwitheconomicandregulatorypolicies,theirroleinshapingpoliticallandscapesandcandidateplatformshasbecomeincreasinglyprominent.AnalystsobservethatcryptoownerstendtofavorTrump,attributedtohisexplicitsupportfortheindustry,contrastingwithKamalaHarris’slessdefinedstanceoncrypto. SkepticismAmidstBullishPredictions Despitetheoptimisticoutlookfromsomecornersofthecryptoworld,notallindustryfiguresareconvincedthataTrumpvictorywouldsustainalong-termbullishtrendforBitcoin.High-profileinvestorMarkCubansuggeststhatanypost-electionsurgecouldbetemporary.HearguesthatTrump’sbroadereconomicpolicies,particularlythoserelatedtotradeandtariffs,couldintroduceinflationarypressuresthatnegativelyaffectthecryptocurrencymarketovertime. Thepollingdatapresentsamixedpicture,withKamalaHarrisslightlyleadinginnationalpollsbutTrumpshowingstrongersupportonbettingplatforms.Thissuggestsapossiblydivergentviewamongthegeneralelectorateandthoseinvestedincryptocurrency. cryptonewsland.com

CharlesHoskinsoncriticizesChrisLarsenfordonating$11.8MtoKamalaHarris,sparkingconcerninthecryptocommunity. ThepriceofXRPdropped5%thisweek,coincidingwithChrisLarsen’spoliticaldonationtotheKamalaHarriscampaign. RippleandCardanofacemarketpressureasChrisLarsen’sdonationraisesconcernsaboutcrypto’sneutralityanddecentralization. Cardano’sCEOCharlesHoskinsoncriticizesRippleco-founderChrisLarsenfordonating$11.8milliontosupportKamalaHarris,causingcontroversyinthecryptocurrencycommunityaboutthedecentralizednatureofdigitalassets. ThecriticismcameoutafterHoskinsonrepliedtoanXpostbyRobertF.KennedyJr,whoaddressedhisconcernsaboutthepoliticalsituationundertheBiden-Harrisadministration.RFKJr.accusedVicePresidentKamalaHarrisofdisrespectingDonaldTrumpandpointedtotheadministration’sapprovaloftheDepartmentofDefenseDirective5240.01. ThereisnothingliketellingourmilitarythattheAmericanpeoplearenowinthethreatsdomesticcategory.https://t.co/Y8UXofe7cbpic.twitter.com/ElnfqSGoEh —CharlesHoskinson(@IOHK_Charles)October23,2024 ThisdirectivethatempowersthePentagontokillcitizensprotestingagainstsomegovernmentpolicieswaspointedoutasviolatingthePosseComitatusActof1878byHoskinson. PoliticalDonationsAddComplexitytotheCryptoMarket KamalaHarris’presidentialcampaignwasdirectlyaffectedbyChrisLarsen’sdonation,whichaffectedthecryptocurrencymarket.ThisforcedRipple’sCEOBradGarlinghouseandLarsentoexplaintheirsideofthestory,significantlythe$11.8milliontheycontributed.Manyofthecommunitysuggestedthatdonationsinthiswaywouldentailpotentialpoliticalandadministrativeissuesthatmightdecentralizecryptocurrency. ThedonationalsooccurredwhenthemarketsentimentforRipple’scryptocurrency,XRP,wassqueezedlower.XRPhasbeendown5%inthepastweekandisnowat$0.52pertoken.Also,thereisreducedderivativesmarkettradingforXRP,withoptions’tradingvolumedecreasingby82%,asperCoinglassinformation.ThesedevelopmentssuggestLarsen’spoliticalactionsmaycontributetonegativemarketperceptions. XRPandADAPricesDeclineAmidControversy TheissuesrelatingtoLarsen’spoliticalcontributionsalsoimpactedthepriceofCardano,whichisitsnativetoken,ADA.ADAhaslost3.00%ofitsvalueoverthelast24hrs,withthepricescurrentlyhoveringaround$0.340toa24-hourhighof$0.356.ADAappearstoalignwithoverallmarkettrends.However,someanalystsinthemarketfoundthatLarsenandotherpoliticalfiguresdistortthemarket’sstatus. ThevolatilemovementinbothXRPandADAindicatesthatthemarketisvulnerabletopoliticalandregulatoryfactorssuchaspoliticaldonationsandregulatoryrisks.Giventheconstantpressurefromregulatorsandgovernmentsworldwide,themarketresponseshouldremindsuchactorstobemoreopenandnon-biasedaboutcryptoassets. cryptonewsland.com

Bitcoin’sminingdifficultyhassurged378%inthreeyears,signalingthegrowingcompetitionamonginstitutional-backedminers. Asinstitutionalinvolvementgrows,Bitcoin’svolatilitydecreases,boostingitspotentialtobecomealow-volatilitycurrencyby2030. The2028Bitcoinhalvingisexpectedtodrivediscussionsonitsuseascurrency,withstablecoinadoptionplayingakeyrole. Bitcoinmightshiftfrombeingonlyavalueholdertobecomingaregularcurrency,by2030accordingtoKiYoungJu,wholeadsandfoundedCryptoQuant.Jugaveseveralreasonswhythischangecouldhappeninthecomingsixyears,notingthemainpointsinBitcoin’sgrowthandthecryptospace. #Bitcoinwilllikelybeusedasa\"currency\"around2030. Bitcoin\'sminingdifficulty,whichreflectstheintensityofcompetition,hasconsistentlyhitall-timehighs,increasingby378%overthepastthreeyears. While50BTCcouldbeminedwithasinglePCin2009,ithas…pic.twitter.com/lY8pRreZCl —KiYoungJu(@ki_young_ju)October24,2024 IncreasedMiningCompetitionHighlightsBitcoin’sMaturation JupointedtotheastonishingsurgeinBitcoinminingdifficultyasoneofthebigcontributors.Miningdifficultyhassurged378%overthreeyears,reflectiveofthekeencompetitionamongstminers.In2009,whenBitcoinlaunched,mining50BitcoinsrequiredonlyasinglePC.However,today,miningactivitiesaredominatedbyhugecorporationssupportedbyinstitutionalinvestors,andthishasmadeitfarmorechallengingforordinaryindividualstotakepartinmining.This,Jubelieves,reflects“thecontinuedmaturationofBitcoinasatechnology”. ReducedVolatilitytoBoostBitcoin’sPotentialasaCurrency Besides,JumentionedtheshrinkingvolatilityofBitcoinasonemorecriticalreasonthatcouldmakeitacurrency.ThemorefinancialinstitutionsinvolvedintheprocesswithBitcoin,thebetteritwillbeanattractiveinvestmentasset,henceamorestableprice.Thismeansgreaterchances,inturn,forBitcointobecomeameansofalow-volatilitycurrency.JuthinksthesechangeswillbeimportantinpositioningBitcoinasaneverydaycurrencyby2030. Juemphasizedthat,inthefuture,theadoptionofstablecoinswillbevitalforthefutureofBitcoinasaformofcurrency.CompanieslikeStripeareexploringthestablecoininfrastructuretocreateagatewaytobroadercryptocurrencyusage.ThisstablecoinadoptionwillbehelpfulinthewayofBitcoinbeingthoughtofasalegitimatecurrency. 2028BitcoinHalving:ATurningPoint HepredictedthatthesecondturningpointwouldbethefutureBitcoinhalvinginApril2028.TheeventwillfurthercutsupplyandspurwidespreaddebatesovertheroleofBitcoinwithinthemonetaryecosystem.WithreducedBitcoinvolatility,thematuredecosystemwillprovidegreaterassuranceofBitcoinbeingusedforday-to-daytransactions. cryptonewsland.com

Cryptoliquidationsreached$261MonOct23,with$203.5Mfromlongbets,markingthesecond-largestliquidationinOctober. Bitcoinfellto$65,500onOct23beforebouncingbackto$67,386,afterapproaching$70K,itshighestinthreemonths. Ethersaw$77MinliquidationsonOct23,drivenbyhightransactionfeesanddampeneddemandforstakingonitsnetwork. Octoberhasbeenavolatilemonthforcryptocurrencyinvestors,especiallythosedependingonsustainedmarketrise.RecentCoinGlassdatashowmassiveliquidations,totaling$261milliononOctober23alone. Thisfigureincludesover$203.5millionfromlongpositions,markingitthesecond-largestliquidationeventthismonth.ThemostsubstantialliquidationoccurredonOctober1,with$450.8millionlostduetoasharp5%declineinthepriceofBitcoin. Ether(ETH)tradersfacedthemostconsiderablelosses,withliquidationssurpassing$77millioninjust24hours.Bitcoin(BTC)calloptionsfollowedcloselywithapproximately$58.3million.Thismassivesell-offcorrelateswithabriefspikeinBitcoinprices,reachingnear$70,000onOctober21,onlytoplummetandsettlearound$67,386aftera0.5%increaseoverthenext24hours. EthereumFacesSetbacksAmidHighFees Ethereum,oneofthecryptocurrencymarket’sprimaryplayers,experiencedlargepricechanges.Thecurrency’smarketpricewasdownby1.7,fallingto$2552fromthe24-hourhighof$2560.Beforethisdecline,Ethereumhadrisento$2,750,itshighestlevelinovertwomonthsonOctober21.ExpertsbelievethattheconstantincreaseinthetransactionfeesontheETHnetworkisprobablydiscouragingpeoplefrominteractingwiththeblockchain,thuscreatingalowdemandforETHstaking. TheseincreasedfeesmayhavemadeEthereuminvestorslessoptimisticandlessactiveorengaging,leadingtofewertransactionsbeingcompletedintheEthereumnetwork.Ifhighfeescontinuetobethenorm,thistrendcouldhavelong-termrepercussionsonEthereum’smarketstabilityandinvestors’confidence. InstitutionalInvestors’StableMarketInvesting Althoughthecryptocurrencymarkethasexperiencedmassivefluctuationsandsignificantliquidation,institutionalinvestorscontinuetoshowstronginterest.OnOctober23,theU.S.-basedspotBitcoinexchange-tradedfunds(ETFs)experiencedanetflowof$198.5m. Thiswasmainlyledbyamassive$323.6millioninvestedinBlackRock’siSharesBitcoinTrustETF.However,partofthistrendhasbeentheresultofotherfundsenteringthemarket,andithasbeenfollowedwithredemptionssuchastheARK21SharesBitcoinETFandtheBitwiseBitcoinETFrecordedoutflowsof-$99mand-$25.2m,respectively. Theactiveparticipationbyinstitutionalinvestorssuggestsacontinuousbeliefintheprospectofdigitalcurrencies,suchasBitcoin,irrespectiveoftheprevailingmarketvolatility.ThisinvestmentpatternmaybeessentialinsupportingBitcoinpricesandensuringtheliquidityofcryptocurrencies. cryptonewsland.com