Category: AI

Thecryptocurrencymarkethasseenanicerallyoverthepastsevendays,ledbyBitcoin,withtheworld\'slargestcryptocurrencygainingalmost10%invalue. Itisnotknownwhetherthismomentumwillcontinueinthenewweek,buttherearemanytokenunlockeventsinaltcoinsandthesecandeeplyaffectthealtcoinmarket. Hereisthetokenunlockcalendarthatwe,asBitcoinsistemi.com,havepreparedspeciallyforyou. (AlltimesarestatedasUTC+3Türkiyetime) World(WLD) MarketValue:$1.33billion TokenUnlockAmount:$8.22million(0.62%ofmarketcap) Date:October21,2024,03:00 XPLA(XPLA) MarketValue:$67.22million TokenUnlockAmount:$1.81million(2.69%ofmarketcap) Date:October21,2024,03:00 LazioFanToken(LAZIO) MarketValue:$13.02million TokenUnlockAmount:$5.33million(40.92%ofmarketcap) Date:October21,2024,03:00 Mintlayer(ML) MarketValue:$9.14million TokenUnlockAmount:$1.56million(17.10%ofmarketcap) Date:October21,2024,03:00 ForgottenPlayland(FP) MarketValue:$3.02million TokenUnlockAmount:$1.93million(64.02%ofmarketvalue) Date:October21,2024,15:00 Sei(SEI) MarketValue:$1.68billion TokenUnlockAmount:$2.36million(0.14%ofmarketcap) Date:October21,2024,18:00 ZkLink(ZKL) MarketValue:$25.30million…

Thecryptogamingspaceisbusierthaneverlately,whatwithprominentgamesstartingtorelease,tokenairdropspilingup,andaseeminglyconstantarrayofotherthingshappeningatalltimes.It’salottotakein! Luckily,Decrypt’sGGisalloverit.Andifyouneedaquickwaytogetcaughtuponthelatestmovesaroundcryptovideogames,we’rehappytopresentThisWeekinCryptoGames. Ourweekendroundupservesupthebiggestnewsfromthepastweek,alongwithafewothertidbitsyoumighthavemissed.Wealsoshowcaseafewofouroriginalstoriesfromtheweek. Biggestnews XEmpireairdrop:Telegramtap-to-earngameXEmpirehascompleteditslatestminingphase,shuttingdownthegameaheadofthisThursday\'sXtokenlaunchonTheOpenNetwork(TON).Theshort-lived\"ChillPhase\"ofthegameformerlyknownas\"MuskEmpire\"lastedjustovertwoweeks,givingplayersalastshottogetabiggersliceoftokensaheadoftheOctober24airdrop. Thisisn’tthefirsttimethatXEmpirehasgonethroughthisprocess.Thegamecompleteditsoriginal,monthslongminingphaseonSeptember30,withplansfortheXtokenlaunchtotakeplacesoonthereafter.Butitreturnedtwodayslater,relaunchingwitha\"ChillPhase\"thatofferedanadditional5%ofthetotaltokensupplytoplayers. Noteveryoneisthrilledwiththeairdroprollout,however.AfterthegamerevealedairdropallocationstoplayersonFriday,manycomplainedthattheyhadbeenleftoutentirely—andthegame\'screatorrevealedthatjust6millionplayerswereeligible,outofatotalofmorethan50milliontotalplayers. SomeplayershavetakentoTwittertocomplaintoElonMuskaboutit...buthedoesn\'tactuallyhaveanythingtodowiththegame,despitetheoriginalnameandthecartoonishavatarsbearinghislikeness. HamsterKombatSeason2:WeknewthatthesecondseasonofsmashTelegramcryptogameHamsterKombatwasduelaterthismonth,butonThursday,thedevelopersrevealedthetheme—andit\'sabigoverhaul. InsteadofahamsterCEOrunningyourowncryptoexchange,you\'llnowstartandexpandyourowndevelopmentstudio,creatinggames,buildingoutyourteam,andlaunchingaplatformforsuchgames.Abriefteasershowsdevelopmentactivitiesthattakepotentiallydaystocomplete,butalsothereturnoftappinggameplay,thefamiliardailycombo,andmore. MoonrayonPS5:ThemakersofEthereum-basedcombatarenagameMoonrayannouncedthattheywillreleasethefree-to-playtitleonPlayStation5nextyear.However,citingSony\'spolicies,thegamewillbelaunchingontheconsolewithoutWeb3features. OnPC,thegamehasalreadyrunaplay-to-airdropcampaign,anditsupcomingmobileauto-battlergamehassimilarplansalongsideitsreleasenextyear.ButthiswillnotbethecaseforthePS5versionofthearenacombatgame,atleastfromtheoutset.ThisisduetoSony’s“rulesandconditions”limitingthegame,theysaid. Still,itleavesabigquestionmarkoverthefutureOfftheGrid—whichiscurrentlyonPS5inearlyaccesswithoutdirectintegrationofcryptofeaturesthatplayerscanuse.OfftheGriddeveloperGunzillaGameshasyettoclarifyitscryptointegrationplansforconsoles,despiteDecrypt\'sinquiries. OfftheGridgoesviral:AvalanchebattleroyaleshooterOfftheGridlaunchedtwoweeksbacktohugebuzzandexcitement.Thathypefollowedthroughtolastweekwithtonsofclipsgoingviral,displayingwhythegamequicklybecamethemostpopularfree-to-playtitleontheEpicGamesStore. FromFortnitelegendNinjashowingoffthepowerofthe\"SlamFist’\"cyberlimbtopopularstreamerTimTheTatmansnipingthelastmanstandinginmidair,itwasclearthataudienceswerelovingthegame.Notonlythat,butitappearsthatsometraditionalgamersarecomingaroundtotheideaofNFTstoo.Doesthisopenthedoorforcryptogamingtoenterthemainstream? ICYMI AnimocaBrandsCEORobbyYungpredictedthatallWeb3projectswillhaveaTelegramcomplement. MobilecryptoRPGstudioAzraGamesraised$42.7millioninaroundledbyPanteraCapital. CryptoClashofClanscloneHeroesofMaviaannouncedthatitslandNFTintegrationwillcomethismonth. CallofDutysaidthatitsToxModAIhasblockedover45millionmessagessinceitlaunchedin2023. Thewaitisover.LootLegendsisLIVE! Embarkonepicquests,conquerdungeons,andclaimlegendaryloot.Joinadventurersworldwideandcarveyourpathtoglory. Playnowon: iOS:https://t.co/c6PiVk2Cd1 Android:https://t.co/HqEQxpAMyi Allpreviousgameandaccount…pic.twitter.com/SRf42C2ckK —LootLegends:RogueDungeons(@LootLegendsGame)October15,2024 MobilegameLootLegendsisliveoniOSandAndroidwithaplay-to-airdropcampaignunderway. Parallel\'sco-foundercalledoutTwitchforblockingtheNFTcardgame’sadswhileallowingHearthstoneandMagic:TheGatheringtoadvertiseonParallelstreams. ImmutablezkEVM,alayer-2Ethereumgamingnetwork,hasremoveditsdeployerallowlist;nowanyonecanbuildonthechain.…

Severalcryptocurrenciessawimpressivegainsthisweek,withsomeemergingasthebiggestaltcoingainers.Thisperformanceoutpacedtheinconsistentmovementsseenduringthesecondweek. ThebiggestmoversincludeDogecoin(DOGE),Worldcoin(WLD),andEthena(ENA).Inthisanalysis,BeInCryptoexaminesthefactorsbehindthesealtcoins’significantmovementsandassesseswhethertheirralliesarelikelytocontinue. Dogecoin(DOGE) Dogecoinledthebiggestaltcoingainerswiththehighestpriceincrease,surgingby31.60%thisweek.Onekeydriverbehindthisrallywastheactivityofcryptowhales.Atvariouspointsduringtheweek,thesewhalesaccumulatedlargeamountsofDOGE,creatingsignificantbuyingpressurethatboostedthecoin’svalue. TeslaCEOElonMuskalsoplayedakeyroleinDogecoin’ssurge.Throughouttheweek,Musk,avocalsupporterofDonaldTrump’spresidentialambitions,repeatedlymentionedthepotentialcreationofaDepartmentofGovernmentEfficiency(D.O.G.E)ifTrumpwinsthepresidency. SincetheacronymalignswithDogecoin’stickerandMuskhasbeenalong-timeadvocateofthecryptocurrency,thepricenaturallysawasignificantjump.Italsoreached$0.14forthefirsttimesinceJuly. Fromatechnicalstandpoint,Dogecoin’ssurgewasdrivenbyabreakoutfromadescendingtrianglepattern,whichformswhenafallingtrendlinemeetshorizontalsupport.Insteadofbreakingdownanddeclining,DOGEdefiedexpectationsbyrisingabovethepattern,fuelingitsupwardmovement. DogecoinDailyPriceAnalysis.Source:TradingView Additionally,the“goldencross,”wherethe20-dayExponentialMovingAverage(EMA)crossesabovealonger-termmovingaverage,furtheracceleratedthepriceupswing. Ifthecurrentbullishtrendcontinues,Dogecoin’spricecouldclimbto$0.17inthecomingdays.Inanextremelybullishscenario,DOGEmightevenreach$0.20. However,iflong-timeholdersdecidetolockingains,thisupwardpredictioncouldbeinvalidated,leadingtoapotentialpricedecline.Insuchacase,Dogecoinmaydropto$0.12. Worldcoin(WLD) Worldcoinissecondonthelistofthebestperformingaltcoins.Thisweek,WLDposted27.30%gains,drivenbyincreasinginterestfrominvestors.ThesurgeinWorldcoin’spricecanbeattributedtoitsrebrandingto“World”andthelaunchofaLayer-2called“WorldChain.” Asofthiswriting,Worldcoinistradingat$2.50,thoughitremains79%downfromitsall-timehigh.Therecentpricerisefollowedstrongsupportat$2.10,wherebullsdefendedthelevel,signalingconfidenceintheasset.Additionally,theincreaseintheRelativeStrengthIndex(RSI)reflectsgrowingbullishmomentum,furthersupportingtheupwardmovement. WorldcoinDailyPriceAnalysis.Source:TradingView Ifthebuyingpressurecontinues,Worldcoinmayencounterresistanceatthe$2.95mark.Shoulditbreakthroughthislevel,thealtcoincouldsurgeashighas$4.94.However,ifitfailstoovercometheoverheadresistance,thereisariskofapullbacktobelow$2. Ethena(ENA) Ethenahasemergedasoneofthebiggestaltcoingainersthisweek,primarilyduetothelaunchofitssynthetic-dollarprotocol,USDe,ontheSolanablockchain.ThisdevelopmenthasdrivenENA’spriceupby24.30%,bringingitto$0.41. Onthedailychart,theMovingAverageConvergenceDivergence(MACD)indicatorhasturnedpositive,signalingbullishmomentum.ApositiveMACDindicatesthatthepricemaycontinuetorise.Ifthismomentumissustained,ENAcouldpotentiallyreach$0.70intheshortterm. EthenaDailyPriceAnalysis.Source:TradingView However,tradersshouldbecautiousofthe$0.50resistancelevel;failuretobreakthroughthisbarriercouldinvalidatethebullishoutlook.Insuchacase,thealtcoinmightseeadeclinebelow$0.35. beincrypto.com

Altcointradersaremakinghugeprofitswith$GOATrecently.Onetraderhasrecentlystoodoutforhisimpressivegainsfromaltcoins.Hefirstinvested$30Ktobuy11million$GOATwhenitsmarketcapwasjust$2million.Hesold3million$GOATfor$279K,leaving8million$GOATworth$3.2million,accordingtoLookonchain. HereisthesmartesttraderIhaveseenrecently! Caught$GOATat$2MMktCap,withaprofitof$3.45M(117x). Caught$GNONat$80KMktCap,withaprofitof$3.02M(855x)! Hespent$30Ktobuy11M$GOATandsold3M$GOATfor$279K,leaving8M$GOAT($3.2M). Thenspent$3.5Kto…pic.twitter.com/dg1z7ldbII —Lookonchain(@lookonchain)October19,2024 TraderGains$6.4Mfrom$GOATand$GNONAltcoins Thetraderthencontinuedtopurchase$3.5Kworthof27.58million$GOAT.Hesold579K$GOATfor$7Kandwasholding27million$GOATworth$3.02million.Altogether,thistradergained$6.4milliononthesetwooperationsonly. Thistraderisanexampleofhowinvestingearlyinaltcoinscanpayoffbigtimeintheend.Hegot117timesreturnon$GOATand855timesreturnon$GNON.Thisisanindicationofhowaltcoinsarewhenoneiscapturedattherighttimeit’sgoingup. Thetrader’splanhasgainedfocusbecauseofthehighprofitmarginsthathavebeenrealized.Thisshowsthatwhentherightresearchandtimingisdone,investinginotheremergingaltcoinsishighlyrewarding. AltcoinsMarketShowsGrowingPotentialwith$GOATand$GNONTrades Thesetradesfocusontheincreasingprospectsinthealtcoinmarketplace.Moretradersarebeginningtobeinterestedinsmallbutpotentiallybigticketopportunities.Itisevidentinthe$GOATand$GNONtradesthatthemarketisunpredictablebutthatthereisgreatpotentialinit. Altcoinsarestillappealingtothetraderswhowillinvestintheminhopeofwinningbig.Stories,reportedbyLookonchain,likethisonehelpmorepeopletoturntheirattentiontotheopportunitiesofaltcoininvestmentsasthemarketdevelops.Fornow,onlythosewhomanagetobuyandsellattherighttimewillbeabletomakegoodmoneyoutofit. blockchainreporter.net

AftertheBitcoinhalvingtookplaceinApril,majorBitcoinminershaveincreasinglystartedchoosingoneoftwostrategies—eitherhodltheBTCtheymineorgearupwithartificialintelligence(AI).TheBTChalvingslashestheearingsofminersbyhalfeveryfouryears—adeflationarymechanismthatalsohelpsmaintainthehardcapof21millionBitcoin. PublicminerslikeMARAHoldings,RiotPlatforms,andCleanSparkareholdingtheBTCtheymineinthehopethatitsvaluewillincreaseovertime. WolfieZhao,ananalystatresearchfirmTheMinerMag,toldBloomberg: “ByavoidingtheimmediatesaleofBitcoinataloss,theycankeeppotentiallossesunrealizedandpositionthemselvesforgainsifabullmarketmaterializes.” However,thestrategythatispopularwithcryptominingstocktradersisaninvestmentinAI.Forinstance,thestockofCoreScientificnearlyquadrupledsinceitannouncedthesigningofmulti-billion-dollarcontractswithAIstartupCoreWeave.CoreScientificemergedfrombankruptcywithasuccessfulrestructuringearlierthisyear. Atthesametime,stocksofMARAandRiot,whoarebettingonholdingBTC,havedroppedby20%and36%,respectively,thisyear.Similarly,sharesofIrisEnergyandBitDigital,whichhavebeeninvestinginAI,havebeenfaringbetterthanthoseholdingBTC. ThestrategyofholdingBTCseemsfeasiblesinceminerslikeMARAandCleanSparkrunprofitableoperations.Besides,inamarketwithrisingBitcoinprices,thestrategyappearstobeagoodone. Infact,withthemarketrising,Bitcoinminershaveagainstartedborrowingandissuingmoreshares.AndthoselikeMARAareusingthefundstobuymorecrypto,followinginthefootstepsofMicroStrategy. However,EthanVera,chiefoperatingofficeratLuxorTechnology,aBitcoinminingsoftwareandservicesfirm,soundedawarning.Hesaid: “InarisingBitcoinpriceenvironment,itisgoingtobeanextremelysuccessfulstrategy,butit’llbeadisasterifBitcoinpricesplummet…Youwillcontinuetoseenegativeprofitsandtheyarehidinghowbadtheindustryisrightnowandhowbadtheiroperationsarebydilutingshareholdersandbuyingnewermachines.” cryptoslate.com

AtopcryptocurrencyanalystandtraderbelievesDogecoin(DOGE)couldprintanewall-timehighthiscycle. PseudonymousanalystDonAlttellshis591,700followersonthesocialmediaplatformXthatthememecoinmaysurgemorethan624%fromitscurrentvalue. “Thisisthechartformythesis.Ibought$0.12ishandthinkitcanrunto$1aslongasthecryptomarketdoesn’tvanishagain.ThatsaidIdon’tknow.Youdoyou,notgonnahandholdanyoneifitturnsaround.It’samemeinherentlyuselessandvalueless,onlyretardstradethisthing.” Source:DonAlt/X TheanalystsaysDOGEhasacoupleofweekstomakeamove;otherwise,he’sout. “Igiveittwoweekstakeitorleaveit.” Theanalystalsosaysabigrallyforthewell-knownmemecouldboostthebroadercryptomarketbyre-ignitingexcitementfordigitalassets. “ThereasonwhyIlikeDOGEisquitesimple:we’vebeenhavingPVP(playerversusplayer)trenchmemewarfare,andincrediblepumpsandnooneoutsideofourbubblecares. Ifyoutrulywanttoputthiscycleintohighgearwhileattractingnormies,yougottapumpsomethinghigh-profilethey’veheardofbefore.MemeshavebeenmetaandDOGEisthecryptomemepeopleknow.Thatandthechartlooksalright. Wishpeoplewouldcomeforthetechinsteadofbuyingsomethingthat’llgotozerolater,tobehonest,andIhavezerolong-termfaithinDOGEgenerallybutrightnowit’sdecentlypositionedtobetheflarethatgetseyesoncryptoagainifitjustrunsenough.Oritfizzlesout,nothingisguaranteedbesidesthefactthatallthesememeswillgotozerointhelongrun.” DOGEistradingfor$0.138attimeofwriting,up8.2%inthelast24hours. GeneratedImage:Midjourney dailyhodl.com

Solana’shardwarescalabilityallowsforefficientcongestionmanagementbutfaceschallengesinmaintainingoptimalpricediscovery. InstitutionalinterestinSolanaisrising,yetitspricegrowthlagsbehindEthereumdespitespotETFapplicationsboostingmarketoptimism. SolanaintegratesOrderlyNetworktoenhanceliquidityandcross-chaintrading,strengtheningitspositionasaleadingblockchainnetwork. AnatolyYakovenko,co-founderofSolana,comparedthenetworkcongestionmanagementofEthereumandSolana.YakovenkonotedthatwhileSolanamanagescongestionefficiently,pricediscoverybecomeslesseffectivewhenglobalresourcesaresaturated.HeemphasizedthatSolana’shardwaremustscaleuptomeetnewdemand,pointingoutthatsoftwarelimitationspreventingthishardwareexpansioncouldbeconsideredaflaw. FundamentaldifferenceIthinkbetweensolana’svisionandethereum’sisthatforsolanawhenaglobalresourceissaturated,pricediscoveryisn’tgood. Whileit’sagracefulwaytohandlecongestion,fundamentallythehardwareneedstoscaleuptohandlethenewdemand.If… —toly🇺🇸(@aeyakovenko)October18,2024 Yakovenko’scommentshavestirreddebatesregardinghowvariousblockchainprotocolsdealwithscalabilityinthecryptospace.Ethereum,whichhasnowshiftedtoProof-of-Stake(PoS),isinmanywayssimilartoSolanaasittargetssmartcontractapplications. However,YakovenkohighlightedthatSolanacanscaleitshardwaretodemand,unlikeEthereum,whichreliesheavilyonitscurrentsoftwarestructure. ChallengesinSolana’sPriceDiscoveryandGrowth Despitesignificantadoption,Solanahasfacedchallengestranslatingitstechnicalstrengthsintorapidpricegrowth.OneofthekeyissuesYakovenkohighlightedisthenetwork’sperformanceunderheavyusage.WhileSolana’scongestionmanagementisconsideredgraceful,itsabilitytoscaleremainscrucialformaintainingoptimalpricediscovery.Thenetworkhasalsofaceddowntimes,includinganotableoutageinFebruarycausedbyabugthatraisedconcernsaboutitsreliability. InstitutionalinvestorshaverecentlyshownrisinginterestinSolanawiththelistingofcryptoETFsandrisingfundbuying.However,Solana’spricetrendshavenotshownasmuchimprovementasEthereum’sthroughouttheseadvancements.TherecentannouncementofspotSolanaETFapplicationshassparkedoptimism,yettheasset’spricegrowthhasremainedrelativelymodest. Solana’sIntegrationwithOrderlyNetworkandFutureProspects TheSolanaecosystemhasgrownwiththeintegrationofOrderlyNetwork,whichintroducedthefirstfull-chainorderbookplatformthatsupportsbothEthereumVirtualMachine(EVM)andnon-EVMecosystems.Thisisexpectedtoimproveliquidityandtradinginvariouspublicblockchains,makingthemmoreaccessibleforusersundertheSolananetwork. Additionally,marketanalystsremainoptimisticaboutSolana’sfuture,predictingasignificantpriceincreasedrivenbymarketconditionsandinstitutionalsupport.SomeforecastssuggestSolanacouldexperienceasubstantialpricerally,potentiallyreachingtriple-digitvalues. ThepositivemarketsentimentsurroundingSolana,bolsteredbynewtechnologicalintegrationsandinstitutionalinterest,positionsthenetworkasastrongcontenderintheblockchainspace. cryptonewsland.com

Dogwifhat(WIF),thelargestmemecoinbymarketcapitalizationonSolana,registerednotablerecoveryoverthelast30days.ThisreboundensuredthatWIF’spriceclimbedby50%andalmostretested$3. Despitetheimpressiverally,technicalanalysispointstothepossibilityofacorrection,asthisclassicbearishformationtypicallysignalsapotentialdownturn. DogwifhatFormsBearishPattern OnOctober14,WIF’spricealmosthit$3.However,theresistanceat$2.82ensuredthatthememecoincouldnotreachthethresholdagainforthefirsttimesinceJuly. Followingthisdevelopment,BeInCryptoobservedthatWIFhadformedarisingwedgeonthedailychart.Alsocalledanascendingwedge,thispatternariseswhentwoupwardslopesconverge,signalinganimminentdownwardtrendreversal. Inmostcases,thiswedgeindicatesthatacryptocurrencyhashitthelocaltop.ForWIF,thelocaltopappearstohavebeenaround$2.96,wherethewickofthegreencandlestickhitonMonday. DogwifhatPriceAnalysis.Source:TradingView TheMoneyFlowIndex(MFI)isanotherindicatorsignalingapotentialcorrectionforWIF.TheMFIassessesbothvolumeandpricetogaugebuyingandsellingpressureinthemarket. AnincreaseintheMFIreflectsrisingbuyingpressure,whileadecreasepointstogrowingsellingactivity.Asshownbelow,theMFIontheWIF/USDdailycharthasdroppedandisonthevergeofslippingbelowtheneutralline. Giventheseconditions,itsuggeststhatWIF’spricehaslostbullishsupportandmightundergoanextendeddecline. DogwifhatMoneyFlowIndex.Source:TradingView WIFPricePrediction:20%CorrectionNext AcloserlookatthedailychartsuggeststhatWIFcouldstruggletobreakabove$2.82,asitappearstobefollowingadownwardtrendseensinceJuly. OnJuly22,WIFreached$2.82butfacedresistance.ByAugust6,thepricehaddropped55%to$1.25.However,thisdoesn’tnecessarilymeanDogwifhatwillexperienceasimilardecline. Still,aquickreboundseemsunlikely.WIFcouldfallby20%,asindicatedbyFibonacciretracementlevels,whichhighlightpotentialsupportandresistance. DogwifhatDailyPriceAnalysis.Source:TradingView Ifthetokendropstothe50%retracementlevel,itmayreach$2.08.However,ifbullsdefendthe$2.33support,WIFcouldreboundto$3.11. beincrypto.com

SamAltman’sWorldcoinhasrebrandedto“World,”unveilingnewfeaturesataneventinSanFrancisco.Altmanandco-founderAlexBlaniaintroducedmajorimprovements,especiallytotheOrbtechnology.Originallydesignedforirisrecognition,theOrbnowfeaturesNvidia’sJetsonchipset,boostingAIprocessingpowerandallowingforself-servicekiosks,whichwillmakethetechnologymoreaccessible.UserswillalsobeabletorequestanOrbforhomeusethroughanapp,similartoorderingpizza,accordingtochiefdesignerHenryHeley. World’sprimaryproduct,itsIrisScanningtechnology,iscrucialfordistinguishinghumansfrombots,especiallyasAIbecomesmoreprevalent.However,Worldisbroadeningitsmethodsofidentification.InadditiontotheenhancedOrb,thecompanynowoffersalternativeslikeusingNFC-enabledpassportstoverifycitizenship,age,andidentitywithoutscanningirises.PlansarealsoinplacetointegratetheidentityverificationsystemwithmessagingplatformssuchasFaceTime,WhatsApp,andZoom. Worldisupdatingitsmobileapptoinclude“mini-apps”developedbythirdparties.SinceitslaunchinJuly2023,theplatformhasgainedover10millionusers,7millionofwhomareverified.AltmanandBlaniaareaimingtogrowtheuserbaseto700millionormore,notingthatanewuserjoinseverytwoseconds.Followingtheevent,Worldcoin’stoken(WLD)droppedby5%,nowtradingat$2.14. coinculture.com

BlackRockisplanningnewusecasesforitsBUIDLproductandisinongoingdiscussionswithsomeglobalcryptoexchanges.Accordingtopeoplefamiliarwiththematter,Binance,OKX,andDeribitaresomeofthecryptoexchangesinvolved. ThisdiscussionfocusesonusingtheBUIDLtokenmorewidelyascollateralforcryptoderivativestrades.Noteworthy,thiscomeswhenWallStreetinvestorsseekstrategiestoenterthedigitalassetecosystem. BlackRockBUIDLDominatingRivals BUIDLisBlackRock’sfirsttokenizedoffering,whichwaslaunchedrecentlybutisnowsuccessfullydominatingtheecosystem. Withinsixweeksofitslaunch,theofferingoutperformedsimilarproducts.InMay,ithadgainedamarketcapof$375million.Atthetime,thisexceededthemarketcapofayear-oldFranklinOnChainU.S.GovernmentMoneyFund(BENJI).TheFranklinproduct’smarketcapwaspeggedat$368Millionatthetime. TheBUIDLfundisdesignedforqualifiedinstitutionalinvestorswithatleast$5millioninavailablecapital.Sofar,FalconXandHiddenRoad,twoofthebiggestcryptoprimebrokers,haveauthorizedtheuseofBUIDLascollateralamongtheirclients.Recently,KomainunotedthatclientseligibletoinvestinBUIDLcantradeviaHiddenRoadusingthetokenascollateral. Thetokenizedofferinghasseensomemajoradoptionrecently.Thisincludesthetransferof$50millionfromOndoFinance,OUSG,whicheventuallymadeitthelargestTreasuryfund.Atanothertime,EthenaannouncedthearrivalofanewstablecoinbackedbytheassetBlackRockBUIDLfund. BUIDLhasattractedmoreinstitutionalfundsthanitscounterparts,includingFOBXX,OUSG,USDY,andUSTB. BlackRockandCryptoInvasion–SpotBitcoinETF Generally,BlackRockhasmadesignificantstridesinthecryptoindustryinsuchashorttime. ApartfromitsBUIDLtokenizedproduct,itscryptoproducts,whicharebarelyayearold,aretoppingthecharts.TheBlackRockiSharesBitcoinTrust(IBIT),whichgottradingapprovalfromtheSECinJanuary,hassurpassedrivalsininflows. Weeksago,BitcoinETFssaw$235.19millionininflows,reflectingagrowinginvestorinterestinthemarket. Ofthisvalue,onlyBlackRock’sIBITrakedin$97.88million.OnOctober16,spotBTCETFssawanetinflowof$458million,andIBITledby$393million.ThiswasaroundwhenBitcoinETFssurpassed$20billionintotalnetflowsforthefirsttime. BlackRockiSharesEthereumTrust(ETHA)isnotrelegatedtothebackgroundasitequallyhitscrucialmilestones. AreExchangesUnderThreat? Thesuddenentranceofinstitutionalinvestorsandtheiraggressivestrategymightthreatentheroleofcryptofirms.However,carefullyintegratingbothsectorscouldhelpinbridgingtheTradFiandDeFigap. Foralongtime,cryptoleadershavesoughtstrategiestoclosethegapbetweenthetwokeyniches.TheCoinRepublicrecentlypostedabouttherolesofTradFiandDeFiintheeconomy.Whiletherearesomedifferences,theirfusioncreatesalevelofbalance. TheentranceofreputablefirmslikeBlackRockintothesectorhasgivencredencetotheindustry.Ratherthanfeelingthreatened,exchangesmayinnovatebettertocompetewithcash-heavyWallStreetcompetitors. thecoinrepublic.com