Category: AI

TheupdatedfilingexpandsonBitwise\'searliersubmission,coveringcustody,basketcreation,andcontingencyplansamidXRP\'sregulatoryuncertainty. KeyTakeaways BitwiserevisesitsXRPETFfiling,enhancingcustodyandtradingstructures. SEC\'sdecisiononRippleappealcrucialforBitwiseXRPETF\'sfuture. BitwisehasupdateditssubmissionforlaunchinganXRP-basedETFbyrevisingitsS-1registrationwiththeSECwithanewfilingreleasedtoday. ThelatestfilingrefinesthedetailsoftheTrust’sstructure,custodyarrangements,andthemechanismsforcreationandredemptionofshares. ThissubmissionfollowstheinitialS-1formfiledonOctober2,whichmarkedBitwise’sfirstformalattempttobringanXRPETFtotheUSmarket. ThefilingoutlinesthattheXRPCustodianwillmainlyusecoldstoragefortheTrust’sassets,movinglimitedamountstohotstorageasneededforefficientbasketcreationsandredemptions. TheXRPCustodyAgreementensuresthattheTrust’sassetsremainsegregatedfromthecustodian’sotherholdings,enhancingthesecurityoftheprivatekeysassociatedwiththeXRP. Toexecutetradesefficiently,BitwisehasappointedaPrimeExecutionAgentwhowillfacilitatethepurchaseandsaleofXRPacrossvarioustradingvenues,includingBitstamp,Kraken,CoinbaseandLMAX,amongothers. Theagent’srolealsoextendstoprovidingshort-termfinancingintheformofTradeCredits,enablingtimelyorderexecutionevenwhentheTrust’sfundsorXRParenotimmediatelyavailable. TheTrust’supdatedstructureoutlinestheprocessforcreatingandredeemingsharesinblocksof10,000units,referredtoasBaskets.TheBasketAmount,ortherequiredXRPperBasket,willberecalculateddailytoreflectaccruedfeesandexpenses. BitwiseacknowledgestheregulatoryuncertaintiessurroundingXRP,particularlyinlightofthependingSECappealregardingtheRippleruling. Thefirmremainstransparentaboutpotentialrisks,statingthatifXRPisclassifiedasasecurity,theTrustmaybeforcedtoliquidateitsholdingsunderthetermsoftheTrustAgreement.Thecompanyhasincludedsafeguardsinitsupdatedfilingtoprotectinvestorsandensurecompliancewithfederalsecuritieslaws. TheupdatedfilingconfirmsthatCoinbaseGlobal,whichisaffiliatedwithboththePrimeExecutionAgentandtheXRPCustodian,maintainsacommercialcrimeinsurancepolicycoveringarangeofrisks,includingtheft,fraud,andcyberattacks. However,BitwiseclarifiesthatthisinsuranceissharedacrossallCoinbasecustomersandmaynotbesufficienttocoverallpotentiallossesspecifictotheTrust. TheSEC’sdecisionontheRipplerulingappealwillbeacrucialdeterminantinshapingtheTrust’spathforwardandcouldultimatelydecidethefateoftheBitwiseXRPETFlaunch. cryptobriefing.com

Santiment,aleadingcryptocurrencyanalyticsfirm,hasreportedasignificantincreaseinBTCwhaleactivityduringtherecentsurgeinBitcoin’sprice. Bitcoinwhaletransactionshitamorethan10-weekhighonTuesday,with11,697transfersworthover$100,000,accordingtothefirm’sanalysis,andareontracktoreachsimilarhighsonWednesday. Theanalysisalsohighlightedashiftinsocialmediadiscussions,withBitcoindominatingdiscussionsonaltcoins.SantimentnotedthatBitcoin,thelargestcryptoasset,nowaccountsformorethanaquarterofallcryptocurrency-relatedconversationsontheinternet,asinvestorsfocusheavilyonpriceactionafterBitcoinsurpassed$68,000,itshighestlevelsinceJuly. However,Santimentwarnedthatthesedevelopmentscouldsignalatemporaryhalttotherally.Theanalysispointedtoprofit-takingbykeyassetholdersandrisingfearofmissingout(FOMO)amongthecrowdaspotentialreasonsforashort-termcorrection.However,thefirmremainsoptimisticaboutBitcoin’smedium-tolong-termprospects,suggestingthatanypricedeclinesarelikelytobeshort-lived. *Thisisnotinvestmentadvice. en.bitcoinsistemi.com

Tether’sUSDTusergrowthsawitsbestquarterinQ3andhasincreasedby9%onaverageoverthelast12months,cushioningthefirm’spossibleexpansionintomoretraditionalfinancemarkets. Tetherreportedthat36.25millionnewon-chainUSDT(USDT)walletsandusersengagedwiththelargestcryptostablecoinin2024’sthirdquarter,markinganewquarterlyhighforthedigitalpaymenttitan.TheUSDToperatorclarifiedthatoff-chainusers,primarilyoncentralizedplatformslikeBinanceorCoinbase,wereexcludedfromtheanalysis. AnOct.16reportrevealedthattensofmillionsofUSDTusersexistoncentralizedexchangesandotheroff-chainvenues,citingprivatedatasharedwithTetherbypartnerfirms. Lastquarter’sinfluxsetafreshrecordforUSDT’sall-timewalletcountforon-chainaccounts.Morethan300millionaddresseshavereceivedTether’sstablecoin,almostequalingtheentirepopulationoftheUnitedStates. USDTusergrowthperquarter EthereumL2sandTelegram’sTONdrivingTetherboom Asthelargeststablecoinonthemarket,severaltier1blockchainslikeBinanceSmartChain,Ethereum(ETH),andTron(TRX)supportUSDT.TethernotedthatEthereum-basedlayer-2scalingnetworkscontributedthemosttoUSDTusergrowthinQ3. Optimism(OP),Arbitrum(ARB),andPolygon(POL)onboardedthemostUSDTusersinthelastyear.Avalanche(AVAX)andSolana(SOL)helpedswellTetheraccounts. ThefirmsaidTheOpenNetworkonTelegramalsoshowed“explosivegrowth”sinceUSDTwentliveonTONinApril.TONhasadded3.3millionusersinsixmonths,accordingtoPhilipGradwell,HeadofEconomicsatTether.TONaccountedfor1%ofallUSDTon-chainaccountsasofwriting. USDTgrowthonblockchains WithitsUSDTbusinessreachingnewhighs,thedigitalpaymentserviceproviderexpandeditsgazetootherendeavorsthroughitsinvestmentarm.Thecompanywassaidtobeexploringlendingbillionsfromitsrecordprofitstotraditionalfinanceandcommoditiestradingfirms. crypto.news

AsBitcoinapproaches$70,000onceagain,marketspeculatorsareeyeingthepossibilityofitsurpassingrecordlevelslastseeninMarch. OptimismaroundriskierassetsisgrowingasinvestorspreparefortheupcomingU.S.elections. “Aftersixmonthsofpriceconsolidationthisyear,thestageissetforaperfectstorminfavorofBitcoinandothercryptocurrencies,”saidBrettMunsterofBlockforceCapital.Munsterpointedtothesurgeingloballiquidity,particularlyfromChina,whichhasrecentlyimplementedaseriesofstimulusmeasuresaimedatrevivingitseconomy. Bitcoinrose2.9%to$68,376onWednesdaybeforefallingslightlytoaround$67,800.BTClastreached$70,000inJulyandhitanall-timehighof$74,000inMarch. “Globalliquidityhasbeenontheriseagainascentralbanksaroundtheworldhaveinjectedcheapcapitalintotheireconomies,”Munstersaid.“Inthepast,whengloballiquidityhasbreacheditsmovingaverage,ithastypicallycoincidedwithsignificantupwardmovementsinthepriceofBitcoin.” Addingtothemarket’soptimism,VicePresidentKamalaHarristhisweekpledgedtosupportaclearregulatoryframeworkforcryptocurrencies.Thedevelopmentcomesafteryearsofcomplaintsfromthecryptoindustry,whichhascriticizedU.S.officialsforregulatingbyforceratherthanprovidingregulatoryclarity.Meanwhile,formerPresidentDonaldTrump,whoisrunningforre-electionagainstHarris,isactivelyseekingsupportfromcryptovotersandhasseveralcrypto-relatedinitiativesunderway. *Thisisnotinvestmentadvice. en.bitcoinsistemi.com

EthereumwhaleshavebeenactivelyaccumulatingETH,addinganearly$4.5billionETHoverthepastmonth,accordingtodatafromIntoTheBlock.Currently,ETHpriceiswitnessingasluggishperformance.However,owingtotheongoingaccumulations,analystsexpectEthereumpricetoreclaimthe$3,000soon. EthereumWhalesAccumulateMassiveETHStash AccordingtoIntoTheBlock’slargeholdersnetflowindicatorthattrackswalletsholdingmorethan0.1%ofETH’stotalsupply,Ethereumwhaleshaveincreasedtheirpositionsbymorethan1.7millionETHinthelast30days.Thisaccumulationisvaluedatover$4.42billion,basedonanaveragepriceof$2,600duringthisperiod. Advertisement Notably,theindicatorhasshownnetoutflowsforonlythreedays.With27daysofcontinuedaccumulation,thisindicatorsuggeststhatEthereumwhalesareactivelysnappingupETH,leadingtosignificantbuyingpressure.Therefore,asthedemandforEtherincreases,theETHpricecouldbenefit. Overthepast30days,ETHwhalewalletshavebeenactivelyaccumulating,withnetoutflowsrecordedononlythreedays. 📊Thelargeholdernetflowindicatortrackswhenwalletsholdingmorethan0.1%ofthetotalsupplyarebuyingorselling. 🔍Intotal,thesewalletshave…pic.twitter.com/om1UM9tArf —IntoTheBlock(@intotheblock)October16,2024 Injustthepasttwodaysalone,175,000ETH,worthapproximately$455million,waspurchasedbylargeholders,furtherunderliningtheongoingconfidenceinEthereum’spotential.Thisstrongbuyingactivitysuggeststhattheseinvestorsanticipateapriceriseintheneartermwith$3,000appearingasthenextkeypsychologicalresistancelevel. ETHPriceAction Ethereumiscurrentlytradingaroundthe$2,600mark,alevelthatmanyanalystsarewatchingclosely.Theaggressivebuyingbehaviorfromwhalescouldfuelfurtherupwardmomentum,drivingETHpriceshigher.However,marketvolatilityremainsafactorandmacroeconomicconditionscouldinfluencefuturepricemovements. Atpresstime,ETHpricewasupby1.03%,tradingat$2,613.30onWednesday,October16.Thisgainsuggeststhatthebullishmomentumhaspersisteddespitesignificantvolatility.Hence,netizensexpectthatifthecurrentaccumulationspreecontinues,Etherpricecouldgoto$3,000next. cryptonewsz.com

Ethereum’sperpetual-termfundingrateshaverisentolevelsnotseensincethegloballiquidationeventinAugust,raisingconcernsaboutpotentiallong-leveragedliquidations. Theincident,whichsawmajorcryptocurrencieslikeBitcoinandEthereumfallmorethan20%alongwithstocks,isstillfreshininvestors’minds.DerivativestraderGordonGrantwarnedthatthecryptofuturesmarketremainsvulnerabletosimilarsell-offsdrivenbyover-leveragedpositionsandamixoftechnicalandmacroeconomicfactors. AccordingtoCoinglassdata,theopeninterest(OI)weightedfundingratereached0.0116%,thehighestlevelsinceJuly29,whenETHwastradingat$3,316justbeforea22%pricedropinearlyAugust.ThecrashwaslargelytriggeredbytheBankofJapan’ssurpriseratehike,whichledtotheunravelingoftheyencarrytradeandapullbackinglobalstockmarkets.Grantexplainedthatwhiletheinitialshockwasexternal,thehighlyleveragedcryptoderivativesmarketmayhaveamplifiedtheimpact. Grantsaidinaninterviewthatthecurrentstructureoftheperpetualfuturesmarketcouldexposecryptocurrenciestoanothersell-offifthereisanexternalshocksimilartotheyen-carrytradeunravelingthattriggeredtheAugustliquidation.HeaddedthatchangesinmarketparticipantbehaviorandtheriseofhighlyleveragedpositionsposeriskstoETHandothercryptocurrencies. Granthighlightedadditionalfactorsweighingonthemarket,includingpotentialpullbacksinNvidiaandotherchipmakerstocks,aslowdowninChina’sstockrallyandinvestorcautionoverrisingtensionsintheMiddleEast.Thesefactors,combinedwiththehighleverageinthecryptomarket,couldtriggerorexacerbateasuddenmarketdecline,especiallyifoptions-basedliquidationsaretriggered. “Thereismorereasontopayattentionwhenbroaderriskassetslikechipstocksaremovinghigherorwhengeopoliticalshocksthreatenequitymarketbetaproxies,includingcrypto,wheretherecouldbeshortgammaexposurearoundtheUSelection,”Grantsaid. Grantwarnedthatthecurrentfundingenvironmentcouldleadtooverlylongpositionsinperpetualfutures,pushingrateshighertoseeasharpdeclineifliquidationsoccur,similartotheeventsofAugust17,2023.HepointedtoanexamplefromlastyearwherealargeETHoptionstraderwentlongandhedgedwithlongfutures,contributingtosignificantmarketvolatilitywhenunwindsoccurred. “Therearenowlargershortpositionsthaneverbefore,andthatcanspiraloutofcontrolinapersistentlynegativefundingenvironment,”Grantadded.Withbillionsofdollarsofshortsagainstlongandstakedspotassets,asuddenchangeinfundingratescouldleadtolossesoftensofmillionsofdollarsinamatterofhours,potentiallyforcingpositionstobeclosedandworseningadversemarketconditions,Grantwarned. *Thisisnotinvestmentadvice. en.bitcoinsistemi.com

Avalanche($AVAX)nears$32resistance,signalingpotentialforfurthergainsifabreakoutoccurs. AVAX’suptrendissupportedbystrongecosystemgrowth,includingitsnewlylaunchedgame. Breaching$32coulddriveAVAXtowardMarchhighs,attractingmoreinvestorinterest. Avalanche($AVAX)isattractingattentionaftershowingstrongpricemomentum,fueledbyitsnewlylaunchedgamewhichhasbeengainingpopularity.ThisbreakouthasbeenoneofthemostconsistentuptrendssinceearlyAugustofthisyearforAVAX.Sofar,investorsandtradersstillfocusonstrategicpointsthatindicatethedifficultyfactorfortheasset’sbreakthroughorthepsychological$32level.AbreachtotheupsideofthisrangemayfurthermeanamovetowardsitshighsaroundlateMarch. AVAX’sUptrendContinues ThepriceofAvalanchehasbeenontheriseeversinceitreacheditslowestpointinAugust.ThisbullishtrendisalsoinspiredbythelatestdevelopmentsaroundtheAvalanchegamingecosystemthathasgarneredheightenedattention.Onecanalsoseerelaxationinthesentimentbecauseofanewlaunchedgamethathasbeenreceivingalotoftractionwhichhasstrengthenedthemarketsentimentofthisprojectaswell. $AVAXlooksprettygoodhere. Itsnewlylaunchedgameisgaininghype,andpricehasbeeninanuptrendsinceAugustbottom. I\'mkeepingacloselookatthe$32levelasabreakoutwillpushAVAXtowardsMarchhighs.pic.twitter.com/z8WMNeUbtr —AMCrypto(@AMCryptoAlex)October16,2024 Thepriceforthiscurrencypaircharthasincreasedinthelong-termstraighttrendlinewithbothsupportlinesforminganascendingtrianglepattern.Thisoftensuggestsacontinuationofbullishpatterns. KeyResistanceat$32withGrowingEcosystemStrength The$32levelhasdrawnsomuchattentionfromthetraders.Basedonsuchachart,thislevelisakeyresistancearea,andabreakoutpastitcouldtakeAVAXtowardslevelsnotseensinceMarch,asmentionedbefore.Manymarketanalystsagreewiththisideaasitshowedinthehighlevelof$215,000thatifAVAXmanagedtobreakthroughittheassetmayexperiencealong-termbullishrun.Previously,AVAXhasexhibitedhighvolatilityuponthesametechnicalbreakoutpattern. EventhoughAvalanchehighlydependsontheabstractionofitstechnologicalposition,thelatestwaveofpriceincreaseshasnotonlyatechnicalbackgroundbutalsoconcernsthedevelopmentoftheecosystem.Thenewlylaunchedgamehasreceivedtremendousattentionfromitsusers,makingAvalancheabigplayerinthefutureblockchaingamingspace.Thatsaid,iftheblockchaincontinuestointegratemoreaspectsofgaminginitsoperations,Avalanchecanexpandthisfactortodriveitsexpansionin2024. cryptonewsland.com

TheHongKongChiefExecutive’s2024PolicySpeech,specificallyArticle99,outlinesacomprehensivestrategytoadvancetheterritory’scryptoecosystemandfintechinnovation. ThegovernmentplanstopromoteCentralBankDigitalCurrencies(CBDCs),regulatoryframeworksforover-the-counter(OTC)trading,andtokenizationtechnology,aswellasintroducenewlegislationforstablecoins. TheHongKongMonetaryAuthority(HKMA)isactivelytestingcross-borderpaymentsolutionsusingCBDCs.AspartofthemBridgeplatform,theHKMAisexpandingtechnologysolutionsforcommercialsettlementsandincreasingparticipationfromboththepublicandprivatesectors. TheFinancialServicesandTreasuryBureau(FSTB)issettocompleteitssecondpublicconsultationonregulatoryproposalsforOTCtradingofcryptocurrencies.Italsoplanstointroducealicensingregimeforvirtualassetcustodyserviceproviderstostrengthentheregulatoryframework. TheHKMAisleadingProjectEnsembletoexplorethetokenizationofreal-worldassetsandtheuseofdigitalcurrenciesforinterbanksettlement.Theinitiativeaimstodevelopinfrastructurefordigitalassettrading.TheHKMAhasalsolaunchedastablecoinsandboxforpotentialissuerstotesttheirbusinessplans.WorkingwiththeFSTB,itwillintroducearegulatorybillforfiat-referencedstablecoinissuerslaterthisyear. Inordertoencouragetheadoptionoftokenizationtechnology,theHKMAwilllaunchtheDigitalBondGrantScheme.Theinitiativeaimstoencouragefinancialinstitutionsandissuerstoutilizetokenizationincapitalmarkettransactions. *Thisisnotinvestmentadvice. en.bitcoinsistemi.com

TheWeb3spacehasevolvedduringthelastfewyearsbutisstillfacingsecurityissues.Inthethirdquarterof2024,hackers’attacksoncryptocurrenciescostmorethan$753million.However,evenwithoverallupbeattrendsrangingfromtheapprovalofSpotEthereumETFstogrowinginstitutionaladoption,cyberattackspresentasignificantproblem. ExplorethetopattackvectorsincryptofromQ32024inHack3dPart1.Discoverhowphishing,privatekeycompromises,andcodevulnerabilitiesledtoover$750millioninlosses. Protectyourselfbyunderstandingtheseattacksandhowtoavoidthem👇https://t.co/Wqw1ayCdbk —CertiKSkynetRating(@CertiKCommunity)October16,2024 Phishingwasidentifiedasthemostcommonvulnerabilitytype,andhackstargetedDeFiplatformsandcentralizedexchangeswithvulnerabilitiesinseveraldomains.ThestatsweredisclosedinareportbySkynetbyCertiK,knownfordeliveringWeb3’smostcomprehensivesecurityscores. MassiveLossesfromPhishingIncidentsinCryptoSpace PhishingattacksweremostprominentinQ3,whentheattackersstole$343millionthrough65cases.Thisquarterbroughta9.5%riseintheattributeofworthlosttocybercrime,eventhoughthecaseswerereducedfromthepreviousquarter.Asthethreatactorsaremorecreative,cryptousers,especiallyindecentralizedsystems,aremuchmoreatrisknow. Ethereum($ETH)RemainstheMostTargetedNetwork Ethereum($ETH)remainsaprimarytargetforhackers,suffering$387millionintheftsacross86incidentsinQ32024.ThisissignificantlyhigherthanthelossesreportedonBitcoin,whichrankedsecond.Additionally,$89millionwasstolenfromcross-chainattacks,reflectingongoingvulnerabilitiesinmultichainecosystems.Thesefiguresunderscoretheneedformorerobustsecuritymeasuresacrossblockchainnetworks. Privatekeycompromisesandcodevulnerabilitiesalsocontributedtothequarter’soveralllosses.Theproblemofreentrancyattacks,whichreflectsvulnerabilitiesinsmartcontractcode,remainsasignificantdangertothedevelopmentofDeFi.Hackersareimprovingtheirskillsthusdemandinguserawarenessaswellasimprovementonsecuritymeasurestocounterthesethreats. blockchainreporter.net

AcryptocurrencyresearcherhasprovidedinformationontherepaymentscheduleforcreditorsofthebankruptFTXexchange,outliningwhatthoseaffectedcanexpectandwhentheycanexpecttoreceivetheirfunds. TheupdatecomesaftertheFTXbankruptcyplanwasapprovedonOctober8,2024,andtherepaymenttimelineisnowtakingshape. Theresearcherdetailedtheexpectedrepaymentperiodsbasedonthevalueofcreditors\'claims: Forclaimsunder$50,000:Creditorscanexpectaone-timepaymentbetweenJanuaryandMarch2025. Forreceivablesover$50,000:Multiplepaymentsarescheduledtobemadethroughout2025,coveringthefirstandfourthquarters. Thetimelineisdependentonthebankruptcyplan’seffectivedate,whichissettobewithin90daysoftheOctoberapproval.Paymentsareexpectedtobemadewithin60daysofthateffectivedate,withtheearliestpaymentlikelyinJanuary2025,butthelatestcouldbeaslateasMarch2025. Theresearchermadeestimatesofhowmuchcreditorscouldreceive: Forclaimsunder$50,000:Asinglepaymentofapproximately118%oftheclaimvaluebasedonthevaluationatthebankruptcydate(November2022). Forclaimsover$50,000:Creditorscanreceivepaymentsofupto142%oftheclaimvalue,tobepaidininstallmentsthroughout2025. Mostrefundsareexpectedtobemadeviawiretransfer.However,theresearcherexpressedconcernsforthosewhoareunbankedorwhochoosenottodisclosecryptofundstotheirbankinginstitutionsduetopotentialtaximplications.Creditorswhoreceivewiretransfersmayberequiredtodisclosethesourceofthefundsandcouldfacetaxconsequences. ApreferredoptionformanycreditorswouldbetorepayinstablecoinslikeUSDCtoavoidbankscrutinyandtaxissues,butFTXhasnotyetdecidedonthismethodandneedstofindadistributionpartnersoonforittobeviable. *Thisisnotinvestmentadvice. en.bitcoinsistemi.com