Category: AI

NEM,Beam,Reef,andSunareoverbought,raisingconcernsaboutpotentialpricecorrections. BeamandReef’srecentsurgeshaveoutpacedtheirutility,suggestingmarketoverextension. GainsNetworkandSunhaveseenstellargrowthbutfaceresistanceduetooverboughtconditions. Somebitcoinsintheyear2024havehittheoverboughtzonewhichthereforeincreasesinvestors’greedforareversal.SomeofthedigitalassetsareasfollowstheyhaveNEM(XEM),Beam(BEAM),Reef(REEF),GainsNetwork(GNS)andSun(SUN).Andtooursurprise,thosecoinshaveskyrocketedinpriceprimarilyduetopeople’semotionsandhysteria. NEM(XEM):ExceptionalPriceGrowth Recently,thepriceofNEM(XEM)hasshownveryhighgrowthandisoneofthemostoverboughtcryptocurrenciesonthemarket.Thereasonisthatwhilebeingbasedonblockchaintechnology,someinvestorsmayfindthatitscurrentpriceisovervalued.Eventhoughthecoinhasdeliveredastonishingperformance,themovewasmainlycausedbyspeculation,whichhasputthecoininoverboughtterritory. Beam(BEAM):GroundbreakingPrivacyFeatures,YetOverbought Beam(BEAM),whichisanothercryptocurrencythatcanbeconsideredtobeofferingsomeofthebestprivacyoptions,hasalsocrossedtheoverboughtlevel.Itsmobileapplicationandefficientoperatingmodelenableuserstoremainanonymous;however,ithasbeenrecentlyoverpriced,whichmakessomeanalystsworried. Reef(REEF):UnmatchedLiquiditybutOverextended Basedonthisunderstanding,Reef(REEF)presentsoneofthemostattractiveoffersforinvestorliquidityacrossdifferentDeFirealms.Nonetheless,thecurrentpriceincreasehasbeenfasterthantherateatwhichthecommodityisusefultriggeringanoverboughtsignal.Thoughitstoptechnologyiscutting-edge,itsvaluationmighthavetotakeabreakforsometime. GainsNetwork(GNS):LucrativebutOverbought GainsNetwork(GNS)hasdemonstratedtobeaprofitablecryptocurrencyinthelastfewmonths.Withitshighlevelsofprofitabilityandhigh-yieldingprospects,investorinteresthasbeenimpressive.Still,thefailurelevelofGNShasturnedouttobeoversoldanditsparksdoubtsabouthowmuchmoreitcanriseuntilapullbackoccurs. Sun(SUN):PremierDeFiToken,YetOverbought SUNhasemergedasoneofthemostpromisingdevelopentswithintheDeFispace,demonstratingvibrantperformanceandthebestpositioninit.Although,thecurrentpricesinSUNhaveresultedinoverboughtsignalsinthedailycharts.Itscurrentvaluationseemstobefullypriced,thusinvestorsshouldtrytobewearyofthiscompany. cryptonewsland.com

DuringalowvolatilitySaturday,theLitecoinpricesurged3%totradeat$75.3.Thebullishtrajectoryislikelyfueledbyon-chainrecoveryandamajorbreakoutfromprice.WilltheLTCPricebuildsufficientmomentumfora$100comeback,oraresellersreadytocounterattack?

TheBRICSblocistakingmajorstepstowardsintegratingdigitalassetstopromoteinvestmentsandeconomicdevelopmentwithinitsmemberstatesandacrossotheremergingeconomies. Thisinitiativebuildsonpreviousdiscussionsaboutdevelopingablockchain-poweredpaymentsystemforthegroup. BRICSAdvancingDigitalAssetsforInvestmentPayments DuringtheBRICSBusinessForumonOctober18,RussianPresidentVladimirPutinannouncedthatthealliancehadagreedtoincorporatedigitalassetsintotheirinvestmentpaymentsystems.ThisdecisionmarksamajorshiftinhowBRICSnationsplantohandlecross-bordertransactionsandinvestments. MembercountrieswillnowbeabletosettleinvestmentpaymentsusingcryptocurrenciessuchasBitcoinandstablecoins.TherearealsoongoingdiscussionsaboutlaunchingastablecoinbackedbyChina’sYuan.Thismovewouldfurtherfacilitatesecureandefficienttransactionswithinthebloc. Putinemphasizedthatthemovewouldalsobenefitotherdevelopingnationsbyopeningupnewopportunitiesforeconomicgrowth. “WewilldiscusstheuseofdigitalcurrenciesininvestmentdevelopmentsbyBRICSmemberstates,andthiswillalsobenefitotherdevelopingandemergingeconomieswithgoodprospects,”Putinstated. BRICS,consistingofBrazil,Russia,India,China,andSouthAfrica,hasbeenmakingeffortstoassertgreatereconomicindependenceontheglobalstage.Overthepastyear,thegrouphasfocusedonreducingitsrelianceontheUSdollarininternationaltrade.Instead,theyhaveencouragedtheuseoflocalcurrencies. BRICSCountries.Source:BRICS Inlinewiththisbroaderstrategy,BRICShaslaunchedanewplatformcalledBRICSPay.Thisblockchain-basedsystemfunctionssimilarlytotheSWIFTnetwork.However,itisdesignedtofacilitatetransactionsbetweenBRICScountrieswithoutdependenceonWestern-controlledfinancialinstitutions. Theplatformalsoaimstopromotetheuseofnationaldigitalcurrenciesforinvestmentandtrade.Accordingtothegroup,thismovewouldhelptobuildamoreresilientfinancialarchitecture. “BRICSPaywillcomplementthecapabilitiesofexistingpaymentsystemsandmethods,enhancingsecurity,accelerating,andreducingthecostsofinternationaltransactions,”thegroupstated. Meanwhile,theBRICSblochasbeenexpandingitsglobalinfluence,withrecentadditionstoitsranks,includingEgypt,Ethiopia,Iran,andtheUnitedArabEmirates.Morethan30othercountrieshaveshowninterestinformingclosertieswiththegroup,reflectingitsgrowingsignificanceinshapingglobaleconomictrends. ThenextBRICSmeeting,scheduledtotakeplaceinKazan,willaddresspotentialfurtherexpansionandotherstrategicinitiatives.Withtheblocexpectedtodriveasignificantportionofglobaleconomicgrowthinthecomingyears,BRICSispositioningitselfasamajorforceinreshapingtheglobalfinanciallandscape. beincrypto.com

LUNCNews:TheTerraLunaClassicproposaltotakeaccesstotherelevantaccountsanddashboardmaintainedwithTerraformLabs(TFL)isalmostapprovedbythecommunity.Asaresult,LUNCandUSTCpricegainsupsidemomentumtobreakoutresistancelevelsamidthelatestdevelopments.

TheteambehindtheinfamouscryptowalletdrainingprojectInfernohastransferredcontrolofitskittorivaldrainingasaservice(DaaS)provider,AngelDrainerteam.InanannouncementsharedonXbyScamSniffer,InfernoDrainersaiditwastimetoquit. AccordingtotheInfernodevelopers,quittingwasnoteasy.Still,ithasidentifiedtheAngelDrainerteamascapableofmanagingtheplatformandistrustednottoscamorexploitanotherdrainer. Itsaid: “WefindtheAngelDrainerteamcompetentenoughtomaintainthedrainer(whilekeepingourcodebaseandfeaturessuchas200+protocols,autoclaims,bypassesaswellasmanybigpendingupdates,newpanelwithlogshandlingandmanyotherthings)astheyhaveshowntheycouldbetrusted.” Meanwhile,theInfernoteamsaidthetransferwouldnotaffecttheplatform’soperations.Customerscanstillaccessitsdrainingservicesusingthesamelogindetails.Withthetakeover,itappearsthattheInfernoandAngeltoolkitswillbecomeasingleproduct. TheannouncementmarksthesecondtimetheInfernoteamwillquititsDaaSoperations.ItinitiallydidsoinNovember2023afterhelpingscammersstealover$80million,butlaterreturnedin2024tosayithasbeenoperatingstealthilyforsixmonths. InfernoDrainerAssetTransfers(Source:ScamSniffer) However,theteamappearstobequittingforgoodnow,asithasalreadytransferredthe2,845ETH($7.5million)instolenfundsfromitsfeeaddresstootheraddresses.Thefeeaddressforthedrainingplatformhasalsobeenchangedon-chain,suggestingthatsomeoneelsehastakencontroloftheplatform. AngelDrainerissettobecomepowerful Withwhatseemslikeamergerbetweenthetwoplatformsthathelpscammersandbadactorsdraincryptowallets,AngelDrainerissettoinheritamassiveinfrastructure.Ifaddedtoitsexistingtoolkit,theplatformcouldbecomeoneofthebiggestDaaSprovidersandamajorthreattocryptousers. AngelDraineriscurrentlyoneoftheforemostDaaS,withmorethan$25millionincryptoscamsconnectedtoit.However,itbrieflyshutdowninJulyaftersecurityfirmMatchSystemsclaimedthatithadmadesignificantprogressindeanonymizingthetool’sdevelopers. ItreturnedinAugustand,accordingtosecurityexpertsatBlockaid,hasbecomemoreadvanced.TheBlockaidteamobservedthatithasanimprovedversionknownasAngelX.Thenewsystemreportedlycandeploymaliciousdecentralizedapplications(dApps)thatstealusers’assets,withmorethan300dAppslaunchedbyearlySeptember. PerhapsamoresignificantconcernisthatAngelDrainer’snewsystemsupportsphishingappsthattargetusersonemerginglayer-1blockchainnetworkssuchasTronandTheOpenNetwork(TON).Blockaidnotedthatthesenetworks,whichareintheirearlystages,havelimitedsecuritytoolsandsupport,makingthemafertilegroundforscammers. Drainer-as-a-servicecontinuestogrow Meanwhile,theAngelandInfernoDrainersmergerhighlightshowDaaSplatformshavebecomeabusinessmodelforbadactorsinthecryptospace.Theseplatforms,whichprovidecryptodrainersandothersoftwaretoolsthatsupportscammersandothercybercriminalsforapercentageofstolenfunds,havecontinuedtogrowinprominenceinrecentyears. However,theyhavealsofacedsomechallengesasblockchainsecuritytoolscontinuetobecomemoreadvanced.WhilemostoftheseplatformsprovidemaliciouslinksanddApps,therearenowtoolstodetectandblockthoselinksandapps.Thishasalreadyledtosomedrainers,suchasPinkDrainerandVioletDrainer,shuttingdown. Nevertheless,mergerssuchasthissuggestbadactorsmightnowbeteamingupalsotoimprovetheirabilitiesandstandabetterchance. cryptopolitan.com

InOctober,theHNTpriceexperiencedasignificantdropofnearly30%fromitssupplyzone.Thisstrongsellingmomentumeasilybrokethroughthe20-dayand50-dayEMAbands.Itreachedthe200-dayEMAlevelbymid-month. Inthepasttwodays,theHeliumcryptopricehasdemonstratedarecovery,surgingby12%.The200-dayEMAonthedailychartsupportsthisrebound. WhatInfluencedtheOptimisminHNTPrice? ThisHNTpricesurgewasdrivenbymultiplefactors,includingHelium’sstrategicpartnershipsaimedatenhancingitsecosystem. OnOctober9th,HeliumannouncedastrategicpartnershipwithAmeribandtodeployover100,000> “Throughthispartnership,theHeliumNetworkisexpandingbyaddingAmeriband’s100,000+> gm,@Grayscalehttps://t.co/kbBSOywe9opic.twitter.com/0av7X9ZNBs —abhay🎈(@abhay)October11,2024 Additionally,onOctober17th,perthe2024’s,a16zcrypto’sStateofCryptoreporthighlightedHelium’sprominence,featuring4outof6majorDePINs. ThesepositivedevelopmentswithintheHeliumecosystemhaveboostedtheHeliumcryptoprice,indicatingstrongpotentialforfuturegrowth. HowistheHNTPricePerformingontheDailyChart? TheHNTpricehasstartedrecoveringoverthepasttwodays.Itfoundsupportfromthe200-dayEMAonthedailychart. Despitethisrebound,theHeliumNetworkToken’spriceremains42.50%belowitsall-timehigh(ATH).Althoughthereareindicationsofapossiblebreakoutrally,themarketremainswary,especiallyaroundthe$8mark.That’sasignificantresistancelevelfortheHNTcryptotoovercome. HNT/USD1.D.|Source:Tradingview Inthepastweek,theHeliumcryptopricehasseena14%correctionandhasdeclinedby30%sinceSeptember.The50-dayEMAindicatesabearishtrend,whilethe200-dayEMAremainsasupportlevel,underscoringaperiodofuncertaintyforHelium. Additionally,theRSIisnearlyneutralat45,suggestingabalancebetweenbuyingandsellingpressure. Thiscryptocouldretestthe$6.525resistancelevelintheshorttermifthebullishmomentumreturns.Ifitmanagestoholdabovethisthreshold,itcouldpavethewayforHNTpricetotargetitsupperresistancerangeof$8to$9inthecomingweeks. SyndicaReportHighlightsHeliumasaTopTierDePINLeader Accordingtotheirreport,DataCreditsburnroseby33%,dailyHeliumNetworksubscribersincreased13-foldinthreemonths,anddatatransferredontheHeliumNetworksurged36-fold.ThesefiguresreflectgrowingoptimismintheHeliumecosystem. ReportData|Source:syndica ThereportunderscorestheincreasingdemandandpracticalapplicationoftheHeliumNetworkasitexpandsswiftly.Italsodemonstratesthatcommunity-driveninfrastructurecangrowmorerapidlythancentralizedsystems. HowEfficientlytheHeliumEcosystemisExpanding? HeliumMobilehassolidifieditsstandingandmadenotableprogressinthetelecommunicationsindustry.HNTpricehasexhibitedapositivetrend,drivenbyHelium’scompellingDePINnarrative. hotspotmap|Source:helium AccordingtotheHeliumwebsite,theHotspotmapindicatessignificantnetworkgrowthwithpromisingpotential.Overthepast30days,HeliumMobilenetworkusagehasadvanced.Theestimateddailytotalusageofthenetworkhasreachedapproximately$9403.72asofOctober19th. networkusage|Source:helium Networkstatisticsindicatethattherewere354,483activeHeliumIoTHotspotsatthetimeofwriting.Additionally,theHeliumMobilenetworkhad18,135activehotspots. thecoinrepublic.com

ThefollowingisaguestarticlefromVincentMaliepaard,MarketingDirectoratIntoTheBlock. Economicriskshaveledtonearly$60billioninlossesacrossDeFiprotocols.Whilethisnumbermayseemhigh,itonlyreflectslossesattheprotocollevel.Theactualtotalislikelymuchlargerwhenfactoringinindividualuserlossesduetovariouseconomicriskfactors.Thesepersonallossesoftenarisefromvolatilemarketconditions,complexinter-protocoldependencies,andunexpectedliquidations. UnderstandingEconomicRiskinDeFi EconomicriskinDeFireferstothepotentialfinanciallossduetoadversemovementsinmarketconditions,liquiditycrises,flawedprotocoldesign,orexternaleconomicevents.Theserisksaremulti-facetedandcanstemfromvarioussources: MarketRisk:Volatilityinthevalueofassetscanleadtosignificantlosses.Forexample,suddenpricedropsincollateralizedassetscancauseliquidationevents,leadingtoacascadeofforcedsellingandfurtherpricedrops. LiquidityRisk:Theinabilitytoquicklybuyorsellassetswithoutcausingasignificantimpactontheprice.InDeFi,thiscanmanifestduringamarketsell-offwhenliquiditypoolsdryup,exacerbatinglosses. ProtocolRisk:ThisriskarisesfromflawsorinefficienciesinthedesignofDeFiprotocols.Impermanentloss,oraclemanipulation,andgovernanceattacksareexamplesofhowprotocol-specificriskscanmaterialize. ExternalRisk:Factorsoutsidetheprotocolsuchasactionsbylargemarketplayersorchangesinmacroratesandconditions,canintroducesignificantrisksthatareoftenbeyondthecontrolofusersoraprotocol. TheLayersWithinEconomicRisk InDeFi,economicrisksarepervasive,buttheycanbeunderstoodontwodistinctlevels:protocol-levelrisksanduser-levelrisks.Distinguishingbetweenthetwohelpsusersbetterdefinetherisksthataffecttheirstrategiesandmonitorkeysignalstotakepreventativeaction. ProtocolLevelRisks Protocolsimplementsafeguardsthroughvariableparametersdesignedtolimitexposuretoeconomiclosses.Acommonexampleisthelendingandborrowingparameterssetbylendingprotocols,whicharetestedandcalibratedtopreventbaddebtfromaccumulating.Thesemeasuresaregenerallyutilitarian,aimingtoprotecttheprotocolfromeconomicrisksonabroadscale,benefitingthelargestnumberofusers. Whilemanagingeconomicrisksisbecomingincreasinglyimportantforpreventinglarge-scalelossesattheprotocollevel,thefocusisnarrow—ontheprotocolitself.Theydon’taddresstherisksthatindividualusersmayintroducebymakingeconomicallyriskydecisionswithintheirownstrategies. UserLevelRisks User-levelrisksareoftenreducedtotheamountofleverageanindividualtakesinlongorshortpositions,butthisonlyscratchesthesurface.Usersfacearangeofadditionalrisks,suchasliquidations,impermanentloss,slippage,andthepotentialforlockedlendingliquidity.Theseindividualrisksdon’tusuallyfallunderthescopeofprotocolriskmanagement,butcanhaveasignificantfinancialimpactonindividualusers. Thegoodnewsisthattheseuser-leveleconomicrisksarehighlyactionable.Byunderstandingtheirownriskprofile,userscanactivelymanageandmitigatetherisksspecifictotheirstrategy.ThispersonalizedapproachtoriskmanagementremainsoneofthemostunderutilizedtoolsavailabletoDeFiparticipantstoday. TheinterconnectednatureofrisksacrossDeFiprotocols EconomicriskmanagementisessentialwhenaddressingrisksthatspanmultipleDeFiprotocols.Whileprotocolauditsandriskparametersstrengthenindividualprotocols,DeFiusersoftenengagewithmultipleprotocolsintheirstrategies.Thismakesuser-levelriskmanagementcrucial. Eachadditionalprotocolorassetintroducesnewriskfactors,notonlyfromthatnewprotocolbutalsofromhowtheseprotocolsinteract.Evenifeachprotocolissecureonitsown,riskscanemergefromhowyourstrategycombinesthesedifferentprotocols. Forexample,imagineascenariowhereauserutilizesaLiquidRestakingToken(LRT)ascollateraltoborrowanasset,whichisthendeployedinaliquiditypool(LP)onanexternalautomatedmarketmaker(AMM).Theprimaryconcernmightbetheleveragedborrowingposition,butthereareadditionalrisks.ThestabilityoftheLRT’spegcouldimpactliquidationinthelendingprotocol,whilethecompositionoftheLPcouldaffectslippageandexitfees,potentiallycausingcapitallosswhenrepayingtheloan.Theseinterconnectedrisksdon’tfallunderanysingleprotocol’scontrolandarethereforebestmanagedbytheuser. StepstoUnderstandandManageEconomicRisk ManagingeconomicriskinDeFirequiresawell-thought-outapproach,asthecomplexityofmulti-protocolstrategiescanintroduceunforeseenvulnerabilities. DeepDiveintoProtocolMechanics:Understandingtheunderlyingmechanicsofaprotocolisthefirststepinidentifyingpotentialeconomicrisks.Investorsanddevelopersshouldscrutinizetheeconomicmodels,assumptions,anddependencieswithintheprotocol. MonitorMarketIndicators:Keepinganeyeonmarketsignals,suchasassetvolatility,liquidity,andoverallsentiment,isessential.Analyzingon-chaindataspecifictotheprotocolsyou’reusingisapracticalwaytostayinformed.Forinstance,ifyou’reengagingwithalendingstrategyonBenqi,monitoringthehealthfactorofloansontheplatformiscrucial.Thisprovidesinsightsintohowstableyourlendingpositionisandhelpsyouanticipatepotentialissuesbeforetheyescalate. Createaholisticriskprofile:Understandinghowinterconnectedrisksmayimpactyouroverallstrategyiskeytoeffectiveriskmanagement.Whileindividualstrategiesvary,riskanalyticscanassistinidentifyingareasofconcern.Forexample,ifyou’reusingaLiquidRestakingToken(LRT)ascollateraltoborrowassets,monitoringthestabilityoftheLRT’spegisessentialtoavoidunexpectedliquidations.Suddenspikesorvolatilityinthepegcouldsignalaneedtotakeprecautionarymeasures,suchasreducingexposureorincreasingcollateral. Insummary,managingeconomicriskinDeFiisaboutbeingproactive.Byunderstandingprotocolmechanics,keepingaclosewatchonmarketindicators,andbuildingaholisticviewofpotentialrisks,userscanbetternavigatethechallengesofmulti-protocolstrategiesandprotecttheirpositions. cryptoslate.com

ThecryptocurrencylandscapeisbuzzingwithexcitementoverGoatseusMaximus,amemecoingainingtractioninthemarket.SocialmediadiscussionsandnotablepricefluctuationsarepropellinginterestinthisSolana-basedtoken.Notably,ArthurHayes,co-founderofBitMEX,hasstirredupspeculationwithhisforecastofapotentialtenfoldpriceincreaseforGoatseusMaximus. Contents 1WhatDidArthurHayesSayAboutGOAT? 2ShouldInvestorsBeCautiousAboutGOAT? WhatDidArthurHayesSayAboutGOAT? InarecentpostontheplatformX,HayessharedhisoptimisticviewonGoatseusMaximus,referencingareportfromBloombergcontributorMattLevine.Heremarkedonthecoin’ssignificantmention,linkingittoapriorsurgeinprice: “Congratulationsdegens,GOATmentionedbyMattLevine,thatboomerfininfluencer.WIFmentionedandthenitincreased10x.” GOAT=infinity Currently,GoatseusMaximushasseenapriceincreaseexceeding23%,settlingat$0.4482,withtradingvolumesreaching$155.01million.Thecryptocurrencyexperiencedapeakof$0.4707andalowof$0.3733withinthepast24hours,indicatingahighlyvolatilemarket. ShouldInvestorsBeCautiousAboutGOAT? Itisessentialforinvestorstotreadcarefullywhenengagingwithlow-pricedtokens.Althoughprominentmemecoinscanyieldhighshort-termreturns,theyalsocomewithsignificantrisks. Hayesencouragesvigilanceamonginvestors. TradershavebenefitedfromthelaunchoftheGoatseusMaximustoken,realizingsubstantialprofits. Priceanalysessuggestpotentialgrowthto$0.5forthiscryptocurrency. WithincreasinginterestinGoatseusMaximus,fueledbyHayes’soptimisticpredictionsandsocialmediabuzz,investorsareurgedtostayabreastofmarkettrendsandrisksinvolved.Theevolvingdynamicsofthecryptocurrencymarketcouldpresentnewopportunitiesforthosewillingtoengage.Marketwatchersshouldremainalertasexcitementbuildsaroundthisemergingtoken. en.bitcoinhaber.net

Anew“StateofCrypto”reportbyventurecapitalfirmAndreessenHorowitz(a16z)showsthattheblockchainspaceachievedall-timehighsforusageandactivity. Accordingtothepaper,220millionaddressesinteractedwithablockchainatleastonceinSeptember2024,afigurethreetimeshigherthanthatrecordedattheendof2023. SolanaHasLargestNumberofActiveUsers MostoftheactivitycamefromSolana,whichlogged100millionactiveusers,followedbyNEAR,whichhad31million.Coinbase’sLayer2(L2)network,Base,wasthird,with22millionwalletsengagingitatleastonce,while14millioninteractedwithJustinSun’sTronnetwork. Foritspart,Bitcoincataloged11millionuniqueusers,followedinsixthplacebyBinance’sBNBChain,whichhadamillionfewer. Additionally,interestinSolanaamongblockchainbuildersreportedlygrewby11.2%fromamoremodest5.1%in2023.TherewasalsoenthusiasmforBase,withitstotalshareofbuildersjumping10.7%fromlastyear’s7.8%. Likewise,thenumberofcryptofoundersinterestedintheBitcoinecosystemwentupto4.2%,aslightuptickfromthe2.6%thatshowedanyattractiontothenetworkin2023. Anothernotablerevelationfromthea16zstudyistheexplosivegrowthofstablecoins,whichhaveoutperformedtraditionalpaymentsystems.Inthesecondquarterof2024,theyprocessed$8.5trillioninvolume,morethantwiceVisa’s$3.9trillioninthesameperiod. Commentingonthereport,a16zresearcherDarrenMatsuokasaidstablecoinshavebecomethecryptoecosystem’sstandout“killerapp,”drivenprimarilybyminimaltransactionfees.HepointedoutthatsendingUSDConL2networkslikeBasenowcostslessthanapenny,astarkcontrasttothehefty$44averagefeeforinternationalwiretransfers. Crypto’sGrowingRoleinU.S.Politics Further,thepaperindicatedthatcryptohasbecomeamajorpoliticalissue,withtheU.S.electionsdueinthenextfewweeks. BothDonaldTrumpandVicePresidentKamalaHarrishavemadeoverturestothecryptocommunitytovaryingdegrees.ArecentsurveyfromGalaxyResearchshowsthatwhileTrumpismorefavored,thecommunityisoptimisticthatHarriscouldbemoresupportiveoftheindustrythanBidenhasbeen. DatafromGoogleTrendsshowsswingstatessuchasPennsylvaniaandWisconsinhadseenariseinsearchinterestforcryptocurrency,placingthemamongthetopfivestateswiththehighestgrowthincryptocuriosity. OtherkeybattlegroundswherecryptointerestwentupincludeMichiganandGeorgia,withtheoppositehappeninginArizonaandNevada. Accordingtoa16z,onecauseoftheincreasedfascinationwithdigitalassetsisthelistingofspotBitcoinandEthereumETFs.Together,theseproductscurrentlyhavenearly$90billioninon-chainholdings. cryptopotato.com

Recently,BitwiseCIOMattHouganexpressedoptimismaboutBitcoin.Hesaidthecryptocurrencywasdueforasignificantrallythatwoulddrivethetokenpricewellintosix-figureterritoryduetoseveralfactors.