Category: AI

LunarCrush’sGalaxyScorehasrevealedthetop10cryptocurrenciesforNovember2,2024,spotlightingassetsthatshowstrongsocialandmarketengagement.Thisrankingsystemevaluatesassetsontheirsocialperformance,tohelpinvestorsgaininsightsintopotentialmarketmovers. TOP10COINSBYLUNARCRUSHGALAXYSCORE$BTC$GNO$SOL$ETH$YFI$TAO$BNB$DXD$XIN$YFIIpic.twitter.com/rhwxUbeGAS —PHOENIX–CryptoNews&Analytics(@pnxgrp)November2,2024 ThecurrentrankingplacesBitcoin($BTC),Gnosis($GNO),Solana($SOL),Ethereum($ETH),Yearn.Finance($YFI),BinanceCoin($BNB),DXdao($DXD)Mixin($XIN)andDFI.Money($YFII)isattheforefront,showingincreasedactivityandmarketinterest. Bitcoin($BTC)andGnosis($GNO)LeadtheRankings Bitcoin($BTC),whichstillholdstherankingasthemarketleaderinthecryptospace,leadsthelist.ClosetoitwasGnosis($GNO),adecentralizedplatformthatworksinthefieldofpredictionmarkets,whichhasbeendiscussedalot. Solana($SOL)andEthereum($ETH)followintheranking.Bothgainusersanddevelopers,duetotheprojectionandcapacityofdecentralizedapplicationsandsmartcontracts.TheirhighLunarCrushscoresindicatesteadyinterest,asbothassetscontinuetoexpandtheiruseandengagement. $YFIand$TAOSeeGrowingInvestorAttention Yearn.Finance($YFI)andTao($TAO)followintherankings,illustratingincreasedattentionfrominvestors.YFI,aleadingDeFiasset,remainspopularduetoitsroleinyieldaggregationandliquidityprovision.Similarly,Tao,anassetfocusedonfosteringdecentralizedprotocols,hasgainedtractionintheWeb3community,indicatingariseininvestorconfidenceandmarketsentiment. BNB,thenativetokenofBinance,alongwith$DXDand$XIN,alsofeatureprominentlyonthelist.BNBemphasizesitscontinuousrelevanceduetoBinance’secosystemandglobaluserbase.$DXDand$XINrepresentnicheassetsgainingmomentum,likelydrivenbystrategicdevelopmentsandexpandingusercommunitiesthatboosttheirGalaxyScores. blockchainreporter.net

Bitcoinminingdifficultyjustsetanewrecord,hittingheightsthatareforcingminerstothrowevenmoreresourcesatthenetwork. WithcompetitionheatingupandBitcoinholdingsteadynearitsall-timehighs,theindustryfacesnewpressures.Nowminersneedevenmorecomputationalpowertokeeppace,leadingtohighercostsandpotentiallystrainingthesystem’ssustainability. Minersaren’tjustdealingwithnewdifficultylevels.Bitcoin’srecentpriceactionhasthemscramblingaswell.Asdemandrises—largelydrivenbyETFpurchases—miningcompetitionisclimbing,butsoareexpenses. Andtransactionfees,whichoftenhelpcoverminingcosts,mightnotbeenoughtooffsettheserisingexpenses.That’scausingsometowonderifthisspikeindifficultywillstartcuttingintoprofits. ETFdemandanditsroleinBitcoin’spricesurge Bitcoinhasbeentradingwaytooclosetoitsall-timehighrecently,andthepushfromU.S.-basedETFsisabigpartofthat.SinceearlyOctober,ETFactivityhasspikedsignificantly.Atthebeginningofthemonth,netdailyETFpurchasesweredownby1.3KBitcoin. BytheendofOctober,though,thatvolumehadskyrocketedto5.8K.OnOctober13alone,ETFspurchased7.7KBitcoin—thehighestsingle-daybuysofar. AsdemandfromETFsgrows,it’sworthnotingtheshiftingdynamicswithOver-The-Counter(OTC)desks.CryptoQuant’sdatashowsthatOTCdeskshavekeptBitcoinsuppliesatrecordlevels,withatotalinventoryofaround416KBitcoin,comparedto183K–193Katthestartoftheyear. ThissurplusmeansETFscangettheirfillwithouttouchingpublicexchangesandspikingtheprice.Instead,theybuystraightfromOTCdesks,whichshieldsthebroadermarketfromsharppriceswings. ThedailyETFpurchasesnowrepresentjust1%to2%ofthetotalinventoryheldbyOTCdesks.Comparethattothefirstquarterof2024,wheredailyETFbuystookupamuchlargerchunk—upto12%ofOTC’sinventory.ETFswouldneedtorampupdemandevenmoreifthey’regoingtomakeaseriousdentinOTCsupplies. Andthere’sashifthappeninginthoseinventorynumbers.OTCdesks’overallBitcoinbalanceisn’tclimbinglikeitdidearlierthisyear.DuringQ2andQ3,theirstockpilesballoonedbyover77Kand92KBitcoininAugustandJune,respectively.Inthelastmonth,however,thatbalancerosebyonly3K. LowerdailyBitcoininflowstothesedesks(downto90Kfromtheyear-to-dateaverageof189K)arehelpingtoslowtheinventorygrowth.ThisdropinsupplymightaddupwardpressuretoBitcoin’spriceifETFdemandholdsstrong. MarketnervesaheadoftheU.S.election WiththeU.S.presidentialelectionapproaching,Bitcoinisfacingmarketjitters.Tradingactivityhasreachednewheights,withopeninteresthittingrecordsthisweek.Afterpushingtowardanall-timehighof$73,800,Bitcoinstumbled,signalingthatmarketplayersarefeelingthestrain.Analystsarenowpredictingapossiblepriceretracementbeforeanyseriousgainsresume. CryptoanalystTitanofCryptospottedalocalbottomat$66,200andquestionedifabouncemightfollow.HischartshowedIchimokuclouddataforaone-daytimeframe,highlightingapricedipbelowtheTenkan-sentrendline,suggestingBitcoincouldstillslidefurther. Hesaid,“BTCcouldn’tcloseaboveTenkan,signalingapossiblemoreprofoundpullback.Ifthebreakoutisconfirmed,wemightseearetestofKijunaround$66,200,whichcouldmarkalocalbottom.” BitcoinclosedOctoberwitha10%gain,finishingthemonthabove$70,000forthefirsttimesinceMarch.Butwiththeelectiondaysaway,themarketisn’texactlystable. Observersnotethatelectionuncertaintycouldtriggervolatilityintheshortterm,whileBitcoin’soverallsupply-demanddynamicsremainbullish.Investorshaveexpressedmixedopinionsonhoweachcandidatemightimpacttheindustry. NicPuckrin,CEOatCoinBureau,said,“What’sdrivingpriceactionisundoubtedlytheelection.”Headded,“ThemarketswilltaketheircuebasedonwhowinstheWhiteHouse.Trumpiswidelyseenaspro-crypto,althoughirrespectiveofwhowins,Bitcoinisstillprimedforapump.” Election-relatedtensionisamplifyingBitcoin’stypicalOctober-Novemberrally.Historically,thesemonthshavebeenstrongforthecryptocurrency,withBitcoinclosinghigherinsevenofthelastelevenNovembers.Whileinvestorsprepareforpost-electionswings,somearebettingthataTrumpwincouldadd10%–15%toBitcoin’sprice,whileaHarrisvictorymightcauseasimilar-sizeddip. ThiselectionseasonalsooverlapswithkeymilestonesforBitcoin.Octobermarkedsixmonthssincethelasthalvingevent,whichhalvedtherateofnewBitcoinissuance.Withsupplytighteninganddemandincreasing,someanalystsbelieveBitcoinisonthepathtoanotherrecord,thoughelectionvolatilitymightbeastumblingblockinthenearterm. cryptopolitan.com

Anewdebatehaseruptedinthecryptocurrencyindustryoverthecostsassociatedwithlistingtokensonmajorcentralizedexchanges(CEXs). TheissuegainedfurtherimportanceafterMoonrockCapitalCEOSimonmadestrikingclaimsregardingatop-tierproject’sattempttolistonBinance. AccordingtoSimon,theproject,whichraisedaroundninefiguresinfunding,wasaskedtoprovide15%ofthetotaltokensupplyinexchangeforlisting. SimonClaimsListingFeesAskedbyExchangesCauseNewAltcoinstoFall “AfteroverayearofduediligencewithBinance,theyfinallyreceivedalistingoffer.Binancewanted15%ofthetotaltokensupply.Imaginepaying$50-100millionjustforaCEXlisting.Notonlyisthisunaffordableforprojects,butitisalsothebiggestreasonthesetokensarefallingonthecharts.Somethingneedstochange,”Simonshared. Thisstatementhassparkeddifferingviewpointswithinthecryptocommunity,especiallyafterCoinbaseCEOBrianArmstrongrespondedbyclaimingthatCoinbasedoesnotchargefeesforassetlistings.“AssetlistingsonCoinbasearefree,dropusanoteviaourAssetCenterandwe’llseeifwecanhelp,”Armstrongsaid. However,AndreCronje,awell-knownnameinthedecentralizedfinance(DeFi)spaceandassociatedwithprojectslikeFantom(FTM),disputedArmstrong’sstatement.Recountinghispastexperiences,CronjeclaimedthatBinancedidnotchargeanylistingfees,whileCoinbasedemandedsignificantamounts.“Binanceaskedusfor$0.Coinbaseaskedusfor$300million,$50million,$30million,andfinally$60million.Ihavealotofrespectforyou.Butthisisabsolutelynottrue,”hesaid. *Thisisnotinvestmentadvice. en.bitcoinsistemi.com

Solanabrokepastits$160resistance,showingstronggrowthpotential. Investorconfidencerisesduetopastelectiontrendsincrypto. HightransactionspeedsmakeSolanaaleadingchoiceinthegrowingdigitalassetmarket. SolanaisseeingariseininvestorinterestastheU.S.presidentialelectiongetscloser.Withmarketvolatilityup,Solanarecentlybrokethroughits$160resistance,reaching$175despitearecentdip.Election-drivenliquiditycontinuestogrow,andSolanaseemsreadyformoregrowthasinvestorsseekstableassets. JUSTIN:🇺🇸Investorsarestockingupon#SOLANAaheadoftheUSpresidentialelection,Datashows.pic.twitter.com/4rEItIOtEC —Curb◎(@CryptoCurb)November1,2024 PastU.S.electionshaveshownapatternofmarketimpact,withBitcoinreachingnewhighsafterpreviouselections.ManyinvestorsexpectSolanatomirrorthistrend,especiallyifitsstabilityholdsthroughelectionseason.Demandfortopcryptossignalsagrowinginterestinsecureoptionsfortimesofuncertainty. DemandforSolanaBuildsasElectionNears PreviousU.S.electionshaveaffectedthecryptomarket.In2020,BTCroserapidly,reachingover$40,000.ThistrendhasraisedhopesthatSolanamightperformsimilarlyaftertheelection.Solana’sgrowth,though,goesbeyondelectionsasitsexpandingecosystemattractsconsistentinterest. CryptoenthusiastArthurHayesrecentlyshiftedhisfocustoSolanafromBitcoin,sayinghesawitasastrongoptioninunpredictablemarkets.Solana’smemecoinsectorisalsogainingattentionandhasoutpacedBitcoin,withendorsementsfromfigureslikeElonMuskboostinginterest. Additionally,DonaldTrump’spro-cryptoviewshaveincreasedbuyingpressureonSolana.Hiscampaignisinspiringconfidenceamongsupporters,andsometradersexpectgainsifhispoliciesfavorcryptoaftertheelection. InstitutionalInterestinSolanaShowsConfidence LargeinvestorsareshowingstronginterestinSolana,reflectingfaithinitspotential.Solana’snetworkleadsintransactionvolumeandactivity,oftenrivalingbiggercryptocurrencies. Besides,Solana’shigh-speedconnectionhandlesthousandsoftransactionseachsecond,whichattractsusersfocusedonspeed,especiallyinDeFiandNFTs.AsSOL’spopularityrises,itstandsoutasavaluablechoiceforbothretailandinstitutionalinvestors. Theecosystemaroundthetokenisalsoexpandingfast,withmorememecoinsboostingitsappeal.Thisgrowthshowshowinvestorsarediversifyingtofindstableassetswithgrowthpotential.Withtheelectionnear,interestinSolanastaysstrong,drivenbyitscompetitivefeaturesandmarketprospects. cryptonewsland.com

BlackRock’siSharesBitcoinTrustrecorded$315Mininflows,whileothersfacedoutflows. ScaramucciviewsBitcoinasalong-termhedge,notarisk-onasset. OnOct.30,spotBitcoinETFssawrecordsingle-dayinflowstotaling$917.2M. InarecentconversationonX,AnthonyScaramucci,thefounderofSkyBridgeCapital,expressedhisopiniononthecurrentBitcoinsell-offandstatedthatitwasunreasonableandprimarilyresultedfrommarketfluctuations,particularlywithinthetechsector. UnderstandingBitcoin’sPositioninCurrentMarketTrends AccordingtoScaramucci,manyinvestorsconsiderBitcoina“risk-on”asset,whichtheyhavetosellduringmarketdownturns.Hebelievesthisbehavioroverlookstheutilityofcryptosaslong-termassetsthatdiversifyagainstfutureriskandvolatility.Hiscommentaryfollowssignificantmovementsintechstocks,whichofteninfluencesentimentacrossvariousassetclasses,includingdigitalcurrencies. Thisiswhyitmattersthat@BlackRockisbetterthananyoneatarticulatingtoitsclientswhy#bitcoinisadiversifierandahedge,andnot“riskon”. Yesterdaybitcoinsellsofffornogoodreason(“becausetechisdown!”)andallotherbitcoinETFsseebigoutflows….but… —AnthonyScaramucci(@Scaramucci)November1,2024 Duringthisperiod,otherBitcoinexchange-tradedfunds(ETFs)recordedoutflows,whileBlackRock’siSharesBitcoinTrust(IBIT)recordedaone-dayinflowof$315million.ScaramuccicomparedBitcointocommonhigh-riskinvestmentstoemphasizethatmoreanalyticalinvestorsshouldbegintorealizeBitcoindifferentlythantraditionalhigh-riskassets. InvestorSentimentandMarketReactions DespiteageneraltrendofoutflowsinBitcoinspotETFs,whichsawanetoutflowof$54.9milliononNovember1,notableexceptionsunderscoreamorenuancedinvestorapproach.Forinstance,onOctober30,BlackRock’sIBITandotherspotBitcoinETFscollectivelydrewin$917.2million—thelargestsingle-dayinflowsinceMarch.Thissuggeststhatwhilethemarketatlargereactstoimmediatepressures,thereissustainedinterestfromasegmentofinvestorswhoarepossiblylookingto‘buythedip.’ SuchinvestorbehaviorcoincideswithScaramucci’spreviousassessments,inwhichheaccuratelyforesawapricerallyfollowingtheFederalReserve’sratecuts.HisrecentstatementsreinforcehisviewofBitcoin’senduringvalue,advisingfollowerstoconsiderthelong-termperspectiveandencouragingthemtofamiliarizethemselveswiththefoundationalconceptsintheBitcoinwhitepaper. cryptonewsland.com

21Shares,Bitwise,andCanaryCapitalfileforXRPETFs,signalingstronginstitutionalinterest. GrayscalerelaunchesXRPTrustandseekstoconvertmulti-assetfundstoETF. Ripple’sQ3report:CMEsetsXRPreferenceprice,BitnominalplansXRPfutureslaunch. NewtrendsemerginginthecryptocurrencymarketspointtoasurgeofinstitutionalXRPusers.RippleCEOBradGarlinghouserecentlyhighlightedthistrend,asseveralbigassetmanagers,suchas21Shares,Bitwise,andCanaryCapital,haveappliedforXRPETFs.Grayscaleisalsoworkingtoconvertitsmulti-assetfundcontainingXRPtoanETF. Themessagefromthemarketisclear–institutionalinterestinXRPproductsisstrongerthanever.@BitwiseInvest,@CanaryFunds,and@21Shares(justthismorning!)filedS-1sforXRPETFswhile@GrayscalelaunchedanXRPTrustandfiledtoconvertitsmulti-assetfund,…https://t.co/d5Icksw4Sj —BradGarlinghouse(@bgarlinghouse)November1,2024 InstitutionalDemandDrivesXRPETFFilings 21Sharesisanoutstandingassetmanagerthathasjoinedthelistofcompaniesapplyingforspot-basedXRPETF.ThecompanysubmittedanS-1registrationformtotheSECfortheproposedfund,21SharesCoreXRPTrust,whichwillallowinvestorstoholdcryptocurrencyinXRPwithoutrequiringthemtoholdtheassetdirectly. ThisETFwouldtrackthespotpriceofXRPand,ifapproved,wouldbelistedintheCboeBZXexchangewithCoinbaseCustodyTrustCompanyasthefundadministrator. ThisfilingcloselyfollowssimilarapplicationsbyCanaryCapitalandBitwise,bothofwhichsubmittedS-1filingsforspot-basedXRPETFs.Moreover,GrayscaleInvestmentshasreintroducedXRPTrustandsoughtanETFofchangeforitsmultiple-assetinvestmentproductcontainingXRP.ThesefilingsindicateapositivechangeininstitutionalviewregardingXRP,whichfirmsnowseefittoincludeinmainstreaminvestmentproducts. LegalClarityBoostsInstitutionalConfidenceinXRP Garlinghouse’sstatementsoninstitutionalinterestalsoreflectRipple’songoinglegalbattlewiththeSEC,whichruledinJulythatXRPisnotinherentlyasecurity. ThisdecisionhasallowedU.S.-basedexchangestorelistXRP,offeringgreaterregulatoryclarityforglobalplatforms.GarlinghousenotedthattheSEC’sappealagainsttherulingdidnotdeterinstitutionalinterestinXRPproducts.Onthecontrary,demandhascontinuedtogrow,underscoringtheresilienceofinstitutionalinterestdespiteregulatoryhurdles. Thecourt’sdecisionhasboostedregulatorytransparency,enablinginstitutionalinvestorstolaunchstructuredinvestmentproductslikeETFs,leadingcompanieslike21Shares,Bitwise,andGrayscaletoproceedwiththeirplansforXRP-basedfunds. InstitutionalProductsThriveAmidRegulatoryScrutiny InlightoftheSEC’slegalactions,Garlinghouseaddressedtheagency’sstance,suggestingitscontinuedresistancetocryptoinnovationcouldharmitscredibility.DespitetheSEC’sappealagainstRipple,whichchallengesaspectsofXRP’slegalstatus,thepersistenceofinstitutionalfilingsforXRPETFsshowsthatcompaniesremaincommittedtoadvancingtheseofferings. RecentreportsindicatethatatleastthreeofthefourXRP-focusedfilingsweremadefollowingtheSEC’sappealnotice,furtherunderliningthestronginterestamonginstitutionalplayers. Ripple’sthird-quarterreporthighlightedadditionalindustrydevelopments,suchastheCMEestablishinganXRPreferencepriceandBitnominal’splanstolaunchanXRPfuturesproduct. cryptonewsland.com

RobinhoodnowallowsDogecointransfers,offeringa1%depositbonusuntilNov30. Blockchainanalysisrevealed164MDOGE,worth$25M,exitedRobinhoodpost-SECnotice. RobinhoodextendscryptoservicestoEuropeanusers,enhancingglobalaccessibility. RobinhoodCryptohasofficiallyexpandeditscryptocurrencyservicesbyenablingDogecoin(DOGE)transfer.ThisimprovementallowstheplatformuserstodepositandwithdrawDOGEanda1%depositbonus,validuntilNovember30. RobinhoodCryptonowsupports$DOGEtokentransfers! Withdraw&Deposit#DOGEandearna1%depositbonusontheappuntil30November. Termsapply.Downloadtheapp:https://t.co/sb4gDoO6Ls#RobinhoodOnchainpic.twitter.com/DYWoWaxITl —RobinhoodCryptoEU(@RobinhoodCrypto)November2,2024 ThismoveiswithinthecontextofRobinhood’songoingstrategicplanstoexpandthenumberofcryptoassetsonboardedandtheeasyaccesstothemforusersaftersometurbulenceduetoregulatoryissues. Robinhood’scryptodivisionreceivedaWellsNoticefromtheUSSecuritiesandExchangeCommission(SEC)andmassivewithdrawalsofDOGEbyusersearlierthisyear.RecentBlockchainanalysisrevealedthataround164millionDOGEworthroughly$25millionwastransferredfromRobinhood.However,withtechnologicaladvancementstoenableDOGEtransfers,theplatformisdeterminedtorestoreusers’trustincryptocurrency. RegulatoryRecoveryandMarketImpact FollowingtheregulatoryscrutinythatledtoatemporarysuspensionofDOGEwithdrawals,Robinhoodhasworkedtoalignitsoperationswithregulatorystandards,signalingapotentiallymorestablefutureforitscryptocurrencyservices.ThereintroductionofDogecointransfersmarksasignificantstepinRobinhood’scommitmenttocomplywithregulatorydemandsandenhancethefunctionalityandreachofitsglobalcryptoservices. Theresponsetothisdevelopmenthasbeenpositive,withanoticeableuptickinDOGEtransactionsontheplatform.AnalystsobservethatRobinhoodisactivelyworkingtorebuilditsreputationamongcryptoinvestorsbyre-enablingthesetransfersandofferingdepositbonuses.ThisstrategymayincreaseuserengagementandstrengthenRobinhood’spositioninthecompetitivecryptotradingmarket. ExpansionofmarketcoverageandthedevelopmentofnewproductsfortradingaretohelpRobinhoodattractmorecustomersandimproveitsreputationasauser-friendlycryptocurrenciestradingplatform.TheannouncementofincludingDogecoinandextendingbonusesfordepositsmighthelptobalancethefluctuationsofthecryptomarket. cryptonewsland.com

Coinbasehasreceivedover20FDIC‘pauseletters’instructingbankstohaltcryptoservices. CoinbasefiledFOIAlawsuitsagainsttheFDICandSECforcryptoregulatoryclarity. FDICstartsreleasingdocumentstoCoinbasefollowingalegalpushfortransparency. CoinbaseGlobalInc.hasescalateditspursuitofclarityfromUSregulators,especiallytheFederalDepositInsuranceCorporation(FDIC),initseffortsfortransparencyincryptocurrencyregulation.ThecompanyrecentlyreportedthattheFDICstarteddisclosinginformationaspartofCoinbase’sFreedomofInformationAct(FOIA)request,markingashiftintheregulatoryagency’spreviousstance. AsperCoinbaseCLOPaulGrewal,thisprovidesinformationonhowtheagencyhasrestrictedbankingforcryptofirms.GrewaldisclosedonXthatCoinbasehasrampeduprequestsforrecordsfromtheFDIC,whichshowsthattheregulatorconcealstheinformationthatcouldexplainitspositiononcryptocurrencies. Slowlybutsurely,thepictureisbecomingclear.Afterwesued,@FDICgovfinallystartedgivingusinformationrelatedtoourFOIArequestaboutthepauselettersitsenttofinancialinstitutionsaspartofOperationChokepoint2.0.Inshort,thecontentsareashamefulexample… —paulgrewal.eth(@iampaulgrewal)November1,2024 CoinbasesupportsclarifyingthelegalframeworkfortheindustryintheUnitedStates,statingthatsuchstandardsshouldcoincidewiththecurrentlegislation. Coinbase’sFOIARequestsReveal‘PauseLetters’fromFDIC Coinbase’slegalbattlewithregulatoryauthoritiesbeganinJunewhenthecompanyfiledaFOIAlawsuitagainsttheFDICandtheSecuritiesandExchangeCommission(SEC).Theexchangesoughttouncoverdocuments,specifically“pauseletters,”whichallegedlyinstructedbankstoceaseprovidingservicestocryptocurrencybusinesses.Theseletters,whichCoinbaselinkedtoOperationChokepoint2.0,underscorethecompany’sclaimthatU.S.financialregulatorshaveusedmultiplestrategiestocurbthedigitalassetindustry’saccesstotraditionalfinancialservices. GrewalstatedthatCoinbasehasreceivedover20suchlettersfromtheFDIC,whichincludedirectivesurgingbankstohalt,pause,oravoidofferingcrypto-bankingservices.AccordingtoCoinbase,thesefindingsindicateacoordinatedapproachtorestrictingaccesstofinancialservicesforcrypto-focusedfirms.Thecompany’sdiscoveryhasfueledfurthercallsfortransparencywithinregulatoryframeworks,especiallyconcerningthecryptocurrencysector’scompliancewithestablishedfinancialstandards. CallsforTransparencyandtheImpactonU.S.CryptoPolicy CoinbasehascriticizedtheSECandFDIC’sregulatoryactions,accusingtheagenciesofdisproportionatelytargetingcryptofirms.Recently,CoinbasefiledadditionalFOIArequestswiththeFDIC,seekingdocumentsonpotentialrestrictionsonthevolumeofdigitalassetsheldbydepositoryinstitutions.TheexchangehasalsopursuedrelatedlawsuitstocompeltheSECandFDICtoclarifytheirregulatorystanceoncryptocurrencies. Coinbase’slegalactionsagainsttheSECandFDIChavebroaderimplicationsforthedigitalassetsector.InitsFOIAlawsuits,Coinbasehasarguedthatregulatoryagenciesoperateundera“bureaucraticcurtain,”underminingtransparencyandinhibitingthecryptosector’spotentialwithintheU.S.financialsystem.Coinbasebelievestheconsistentwithholdingofinformationandregulatorypressureonbankstosevertieswithcryptoclientsstifletheindustry’sabilitytothrive. TheBlockchainAssociation,anindustrygroupadvocatingforcryptointerests,recentlyreportedsubstantialfinancialburdensoncryptocompaniesduetotheSEC’sapproachunderChairGaryGensler. cryptonewsland.com

Twohigh-profileEthereumresearchers,JustinDrakeandDankradFeist,havesteppeddownfromtheiradvisoryrolesatEigenLayer,arestakingplatform. TheannouncementcametodayonX,asbothresearcherscitedtheirdesiretofocusentirelyontheEthereumbaselayer.DrakehadalreadyleftthepositioninSeptemberbutmadehisexitpublictoday.Hesaid: “IwanttoapologizetotheEthereumcommunityandEFcolleaguesforthedramaIcaused.” Headmittedtheadvisoryrolewasa“badmove.”FeistaddedthatwhileEigenLayerremainsavaluableproject,Ethereumdemandshisfullattention. Tensionsoverconflictofinterestandtokencompensation ThetroublestartedbackinMaywhenitwasrevealedthatbothresearcherswereadvisingEigenLayer,whichranksamongthetopthreeDeFiprojectsonEthereumbyTotalValueLocked(TVL),accordingtoDefiLlama. EigenLayer’ssuccesshadcausedconcernsabouttheimpartialityofEthereum’scorecontributors,especiallygiventheheftycompensationpackagesforadvisors.Drake’scontractreportedlyincluded“millionsofdollarsoftokensvestingoverthreeyears.” AyaMiyaguchi,theEthereumFoundation’sexecutivedirector,respondedtothepublicbacklashbypromisingtoimplementaconflict-of-interestpolicy.InaMaypostonX,shesaid: “Itisclearthatrelyingoncultureandindividualjudgmenthasnotbeensufficient,andwehavebeenworkingonaformalpolicytoaddressthisproblemforawhilenow.” Miyaguchiindicatedthepolicywouldbefast-trackedtopreventsimilarissues.Whileaformalpolicyhasyettomaterialize,Drakehintedatchangesinhisownapproach.Hepledgedtoavoidfutureadvisorships,investments,andparticipationinsecuritycouncils,explaining: “ThispersonalpolicygoesaboveandbeyondtherecentEF-wideconflictofinterestpolicy…becauseIwanttosignalcommitmenttoneutrality.” EigenLayer’stokenairdropandongoingsecurityissues EigenLayerhasbeenmakingheadlinesforotherreasonslately,launchingitsSeason2“stakedrop”campaign,amassiveairdropof86millionEIGENtokens,around5.1%ofitstotalsupply.Theairdropbreaksdownintothreeprimaryallocations: StakersandOperators:Receiving70milliontokens,thelargestshare,reservedforuserswhoactivelystakeandoperatewithintheplatform. EcosystemPartners:10milliontokensaredesignatedforpartneringprotocols,includingliquidstakingnetworks. CommunityMembers:6milliontokenssetasideforearlyadvocatesandcontributors. EigenLayercapturedtheairdropsnapshotonAugust15,withclaimsopeningonSeptember17.Buttheplatformhasbeeninplentyofsecuritytroubles.InOctober,itsawanunauthorizedsaleof1.67millionEIGENtokens,valuedatroughly$3.3each. ThissaleraisedimmediatequestionsaboutviolationsofEigenLayer’slockuppolicy,whichbarscurrentandformeremployeesfromsellingorstakingtokensbeforeSeptember2025.ThewalletusedinthesalewaslinkedtoEigenLayer’sGnosisSafe,whichaddstotheconfusionsurroundinginternalcontrols. ThishasledEigenLayertoreexamineitssecuritymeasuresandaddressweakpointsinitscomplianceprotocols.OnOctober18,asecuritybreachledtothetheftofapproximately$5.7million. Anattackerusedaddressspoofingtomimicaninvestor,bypassingsecuritytosiphonfunds.Inresponse,EigenLayerhasbeenreviewingandtighteningitssecurityprotocols,hopingtofendofffuturebreaches. ThetokenunlockedonOctober1,instantlyclimbingintothetop100cryptocurrenciesbymarketcap.EIGEN’sfullydilutedvaluationsurgedtoaround$7.2billion,withthetokentradingatapproximately$3.59. Buttheunauthorizedsalesandhackingincidentshavemadethemarketskittish.Priceswingsanduncertaintydominatetrading,fueledbyquestionsovertheplatform’sinternalsecurityandgovernance. cryptopolitan.com

Cardano’spriceiscurrentlyfollowingsimilarpatternsasits2020bullishrally,hintingatapotentialspiketo$6.Moreover,Cardano’swhaletokenaccumulationisontherise,jumpingbyover47%inmorethantwoyears. Cardanoholdershavealreadyaugmentedtheirholdingstoover2.94billionADA. AnalystAliMartinezprojectsCardanocouldreach$6asearlyasSeptember2025 AccordingtoAliMartinez,anon-chaincryptoanalyst,Cardano’scurrentpricetrajectorylooksincreasinglysimilartoits2020priceformation,signalinganimpressivepricesurgeforthetoken.TheanalystpointedtothetimewhenCardano’spricebegantoriseonNovember16,2020,untilAugust2021,whenitreachedanall-timehighof$3. Inoneofhisposts,heremarked: IbelieveCardano(ADA)isfollowingasimilarpatternto2020.Ifhistoryrepeats,wemightseeapumparoundNovember18—abouttwoweeksaftertheUSelections—andapotentialmarkettopbySeptember2025. ~AliMartinez Hesaidallthiswhilepresentingagraphofhispredictions. Source:TradingView ThegraphindicatedthatADAcouldsoonhit$6bySeptember1,2025,risingbyover1600%inlessthanayear.TheforthcomingUSelectionswouldplayahugeroleinpropellingthetokens’prices,especiallyifacrypto-friendlycandidateiselected. Somecryptoassets,includingBitcoin,havealreadyseentheirpricessurge.BTCiscurrentlyat$69,506,representingmorethana64%riseinYTDpricegains. Atthetimeofwriting,theADApricewasonly$0.351,markinga1.96%lossinthelast24hoursandan8%surgeinthepastweek.Its24-hourtradingvolumeis269.35million,anditsmarketcapitalizationis12.28billion. Cardano’swhaleshaveincreasedtheirholdingstoabout2.94billion Santiment’sdatashowsthatlargeCardanoholdershavebeenontracktoaccumulatetheirholdings.Aroundmid-April2022,tokenholdersamassedroughly100millionand1billionADAintheirwallets. Now,Cardanowhaleshaveaccumulatedover2.94billionADA,markinga47%risesinceApril2022.Ideally,massiveaccumulationactivityusuallysignalsthattheinvolvedinvestorsareeyeingpossiblepriceappreciationsinthenearfutureorevenmarketreversals. cryptopolitan.com