Category: AI

InvestmentmanagementfirmCanaryCapitalGroupofficiallyfiledFormS-1forthefirst-everLitecoinexchange-tradedfund(ETF)withtheUnitedStatesSecuritiesandExchangeCommissiononOctober15.CanaryCapitalconfirmedthattheCanaryLTCETFwillexposeinvestorstoLTCpricesprovidedbytheETFwhilereducingitsrisksandoperationalcosts. TheLTCTrustwillensurethatinvestorshaveaneasywayofinteractingwiththecryptowhileavoidingthecomplexitiesofcryptotrading.Assuch,willinginvestorscanbuysharesoftheCanaryLTCETFandtradethemontheexchangeswheretheETFwillbelisted.ThetrustbehindtheETFwillsolelyholdtheLitecoinforthefund,whichwillalsotracktheETF’svalue. CanaryCapitalGroupisaone-month-oldassetmanagementcompanycreatedbyStevenMcClurg,aformerexecutiveintheValkyrieFund.Stevenwastheco-founderandchiefinvestmentofficeroftheValkyrieGroup.Now,McClurgistheCEOofCanaryCapitalGroupandtheguidebehindtheCanaryLTCETF. McClurgexplainedthereasonbehindthecreationofCanaryCapitalastheincreasingneedforcrypto-relatedofferings.Thefirmaimstodriveinnovationwhileofferingsolutionsbeyondretailproducts.Thefirmalsofocusesonriskmanagementincryptoinvestmentsand‘adaptive,strategic,foresight.’ CanaryCapitaldescribeswhyLitecoinisfavorableforanETF CanaryCapitalexplainedthatLitecoinisafavorablecryptocurrencyforinvestorswhowanttoexploreadigitalassetthathaswithstoodthetestoftime.Litecoincelebratedits13thanniversaryonOctober13.Accordingtoon-chaindata,Litecoinisthelongest-standingblockchainthathasn’tsufferedanydowntime,makingitareliableoption. Inthefiling,CanaryCapitalincludedotheraspectsofLitecoin,suchasitsfounder,CharlieLee,whohasbeensignificantlyinvolvedintheblockchain’sroadmap.Theinvestmentmanageralsooutlinedthecryptocurrency’ssupply,value,miningrewards,andmore. Itisworthnotingthatotherassetmanagementcompanies,includingGrayscale,CoinShares,andBitwise,haverecognizedLitecoinasafavorableproductfortheirinvestors.ThethreeassetmanagementfirmshaveLitecoinexchange-tradedproducts,withthemostnotableonebeingtheGrayscaleLitecoinTrust. CanaryCapitalfilesforanXRPETF BREAKING:CanaryCapitaljustfiledanS-1foran$XRPETFwiththeSEC🔥‼️pic.twitter.com/GMWXzXcTi9 —MASONVERSLUIS(@MasonVersluis)October9,2024 TheCanaryCapitalGroup’ssteptofilingfortheCanaryLTCETFcomesaftertheassetmanagementfirmfiledforanXRPspotETF.Canary’sfilingcameafewdaysafterBitwisejoinedtheXRPETFrace.TheinvestmentmanagementfirmisnowthesecondcompanytofileforanXRPETF. ACanaryCapitalspokespersonsaidonOctober8thatthemarketsshowedencouragingsignsofregulatorymaturity.Thespokespersonalsoconfirmedinvestors’growinginterestincryptocurrenciesbeyondBTCandETH.Thecompanyconfirmedthatmorepeoplearelookingforenterprise-gradesolutions,whichRippleanditstokenXRPrankedas. ThetwofilingscomeaftertheU.S.SECfiledanoticeofappealwiththeU.S.CourtofAppeals.AccordingtoseveralXusers,thefilingsforXRPETFswiththeU.S.SECmightshowthatcryptofirmsnolongercarewhatthecommissionthinks.OthersalsobelievedtherenewedinterestinXRPETFscouldbringmoreattentiontoRipple’snativeassets. cryptopolitan.com

AILayer,aprominentblockchaintechnologycompany,hasannouncedastrategicpartnershipwithXStar,aplatformdedicatedtoverifyinghumanidentitiesandpreventingAI-generatedduplications.ThiscollaborationisasignificantdevelopmentintheWeb3ecosystem,aimedatenhancingsecurity,trust,andtheoverallintegrityofdecentralizednetworks.ThepartnershipcombinesAILayer’sLayer2blockchaintechnologyexpertiseandXStar’sadaptiveOmnichainhumanityscoringsystem. 🤝#AILayeristhrilledtoannounceourpartnershipwith@xstar_id! XSTARisdesignedtoverifyrealhumanidentitiesagainstAIduplicationsusinganadaptiveomnichainhumanityscoringsystemintegratedintoWeb3domains. Together,wewillrevolutionizethefutureof#Web3!…pic.twitter.com/a3uw64MlFL —AILayer(@AILayerXYZ)October15,2024 AsWeb3grows,ensuringusers’authenticityhasbecomeacrucialchallenge.WiththeriseofAI-generatedidentities,theneedtodifferentiatebetweenrealpeopleandAIduplicationsismorepressingthanever.XStar’shumanityscoringsystemaddressesthisissuebysecurelyverifyingidentitiesacrossmultipleblockchains.Thissystemevaluatesvariousfactorstoscoreusers,providingamethodtoreduceidentityfraudandduplicationindecentralizednetworks. BypartneringwithXStar,AILayerisleveragingitsadvancedLayer2blockchainsolutionstoenhancethissystem’scapabilitiesfurther.Layer2solutionsaredesignedtoimproveblockchainnetworks’scalability,transactionspeed,andcost-efficiency.Together,AILayerandXStaraimtoofferamoresecure,scalable,andreliableWeb3infrastructurethatsafeguardsuseridentities. RevolutionizingWeb3withBlockchainandAI Accordingtothefirm’sreport,thepartnershipbetweenAILayerandXStarhighlightsthegrowingtrendofintegratingblockchaintechnologywithartificialintelligence.ThiscollaborationispoisedtotransformhowidentityverificationismanagedinWeb3,makingitmoresecureandtrustworthyforusers.AILayer’sblockchainexpertiseandXStar’sinnovativeidentityverificationmethodscreateapowerfulcollaborationthataddressesafundamentalprobleminthedecentralizedspace. TheircombinedeffortscouldreshapethefutureofWeb3byensuringthatusersareactualindividuals,notAI-generatedentities,furthersecuringdecentralizedinteractionsandreducingtheriskofidentityfraud. BothAILayerandXStararecommittedtobuildingstrongcommunityengagement.TheyencourageuserstojointheirTelegramandDiscordcommunities,wheredevelopers,blockchainenthusiasts,anduserscanconnectwiththeteamsbehindthesegroundbreakingtechnologies.Thisengagementiscrucialastheyaimtorevolutionizethefutureofdecentralizedtechnologyandidentitymanagement. blockchainreporter.net

TikTokhasbeenaccusedoffunctioningasanunlicensedcryptocurrencyexchangeintheUnitedKingdom. AlettersenttotheFinancialConductAuthority(FCA)byaformercomplianceconsultantforthecryptocurrencyplatformincludesseveralconcernsregardingtheoperationofthevirtualcurrencysegment.TheletteralsoimpliesthatTikTokallowsuserstoconvertitsvirtualcurrencytorealmoney,whichmakesitfallunderanti-moneylaunderinglaws. Accordingtotheletter,TikTok’srewardsprogramhelpsintransferringfundstomoneyservicebusinesses.TheTikTokCoinsareboughtbyusersandareusedtosendgiftstothecreatorsofthecontent.Thesegiftsarethenexchangedfor“diamonds”thatcanbeexchangedforfiatcurrency.Asperthecomplianceconsultant,TikTokisessentiallybarteringcryptoassetsforcashwithoutnecessaryFCAregistration. TheletterfurtherurgestheFCAtoregulateTikTokunderanti-moneylaundering(AML)andterroristfinancinglaws.Itrevealsthatthepresentstructureoftheplatformisproblematic,especiallywithregardtomonetarytransfersthatcanbypassrulesandregulations.IftheFCAstepsin,itcanresultinscrutinizingTikTok’sfinancialtransactions,particularlyitsvirtualcurrencytransactions. Furthermore,theletterincludesconcernsaboutTikTok’sAMLmeasures.ItpointsoutthatintheabsenceofproperFCAregistration,theplatformmaybeexposedtomoneylaunderingandotherfrauds. GlobalinvestigationstargetTikTok’sfinancialpractices TheFCAoverseesthefinancialcompaniesintheUKtomakesuretheyfollowlawsmeanttopreventmoneylaunderingandterroristfinancingactivities.TheabsenceoftheFCAregistrationofTikTokhasgeneratedconcernsregardingthefirm’scapacitytomanagetransactionscomprehensively.Inresponsetotheseallegations,TikTokisalsosaidtobeincreasingitscomplianceteamtohandletheseissues. TheallegationsareinlinewithearlierprobesthathavebeendirectedatTikTokglobally.InAustralia,theAustralianTransactionReportandAnalysisCentre(AUSTRAC)isprobingintotheplatformasitsuspectsthesametobeinvolvedinmoneylaundering. Moreover,TikTokhasbeenbannedandchallengedlegallyinseveralcountries,includingtheUnitedStates.Thesecontroversieshavebeenoccasionedbyquestionsonuserprivacyanddataprotection.However,somepoliticians,suchastheU.S.presidentialcandidateRobertF.KennedyJr.,havecomeoutindefenceofTikTokagainstthebans. InMarch,ItalyfinedthreeTikTokunitsforinsufficientchecksoncontentthatmightbedangerousforchildrenorothervulnerablesubjects.Inrelatednews,TikTokissaidtobeplanningoncuttingitsworkforcebyhundredsofemployees. cryptopolitan.com

Ethereum(ETH)hassurgedabove$2,500,nowtestingacriticalsupplylevelthatcouldsparkamassiverallyforbothETHandaltcoins. Afterseveraldaysofanxietyanduncertainty,yesterday’smarketsurgehasreignitedoptimismacrossthecryptospace.InvestorsandtradersarecloselywatchingEthereum’spriceaction,asabreakabovethiscrucialzonecouldsignalthestartofasignificantupwardtrend,potentiallysettingthestageforanAltseason. TopanalystsandinvestorsawaitconfirmationthatETHispoisedtorallysoon.CarlRunefelt,awell-knownanalystandinvestor,hassharedhistechnicalanalysisonEthereum,suggestingthatthelong-awaitedrallymaybejustaroundthecorner. AccordingtoRunefelt,ETH’sbreakoutfromthecurrentsupplyzonecouldleadtoasubstantialpricesurge,attractingbullishmomentumforEthereumandabroaderrangeofaltcoins. ThenextfewdaysarecriticalforEthereum’spriceactionasthemarketawaitssignalsthatcoulddefinethedirectionofthispotentialrally.Investorsremainoptimistic,anticipatingthatETHcouldleadthemarketintoitsnextmajorbullishphase. EthereumTestingCrucialSupply EthereumhasbeentradingwithinabullishtriangleformationsinceearlyAugust,andthemomentoftruthforapotentialbreakoutmaybeclose. ETHhasunderperformedBTCthroughouttheyear,causingmanyinvestorsandtraderstoquestionETH’sstrengthduringthiscycle.ThistrendledtoashiftinconfidenceasBitcoincontinuedtodominate,leavingEthereumbehind. However,duringyesterday’smarketpump,Ethereumshowedrenewedstrength,outperformingBitcoinforthefirsttimeinawhile,signalingapossibleshiftinmarketdynamics. ProminentcryptoanalystCarlRunefeltrecentlysharedatechnicalanalysisonX,highlightingEthereum’simminentbreakoutfromthebullishtrianglepattern. AccordingtoRunefelt,Ethereumisapproachingakeymoment,andabreakoutfromthispatterncouldleadtoamajorrally.HesuggeststhatonceETHbreaksthrough,thenextsupplyzonetotargetisaround$3,400,representingasignificantupwardmovefromcurrentlevels. ThisoptimisticoutlookcomesfromrenewedpositivesentimentacrossthemarketandEthereum’simprovedpriceaction.Tradersandinvestorsarecloselywatchingthenextfewdays,asasuccessfulbreakoutcouldmarkthebeginningofEthereum’slong-awaitedbullishtrendandre-establishitsstrengthrelativetoBitcoin. ETHTechnicalLevelsToWatch Ethereumistradingat$2,611afteranotable7%surgeyesterday.Thisupwardmomentumallowedthepricetobreakpastthe$2,500mark,acriticalresistancelevelpushingthepricedownsincethebeginningofOctober. Now,Ethereumislessthan8%awayfromthe200-dayexponentialmovingaverage(EMA),currentlyat$2,806. Forbullstogaincontrolandestablishasustaineduptrend,ETHmustreclaimthis200-dayEMAandcloseabovethe$2,800level.Doingsowouldsignalacontinuationofbullishmomentumandsetthestageforapotentialrallytohigherpricelevels. Ontheotherhand,ifEthereumfailstoholdabovethe$2,500supportlevel,adeepercorrectionmaybeonthehorizon.Inthatcase,thepricecouldreturnto$2,300,wherestrongerdemandmayhelpstabilizethemarket. ThenextfewdaysarecrucialforEthereum,astradersandinvestorsarewatchingcloselytoseewhetherthepricecanholditsrecentgainsandbreakthroughkeyresistancelevels. FeaturedimagefromDall-E,chartfromTradingView newsbtc.com

SingularityDAO,CogitoFinance,andSelfKeyhaveannouncedastrategicmergertoformSingularityFinance.ThisnewentitywillenhancethetokenizationoftheartificialintelligenceeconomythroughaspecializedLayer-2network.TheunifiedplatformwillintroducetheSFItokenasitscorenetworktoken,consolidatingthethreeexistingtokens,SDAO,CGV,andKEY,intoasinglecurrencytostreamlinetransactionsandgovernancewithintheecosystem.

CryptoindexfundmanagerBitwisehassurpassed$5billioninassetsundermanagement(AUM)acrossitssuiteofbetaandalphainvestmentproducts,thankstoexistingandnewinvestors. Accordingtothecompany,thisrepresentsasurgeof400%thisyear,followingLuisBerruga’sappointmentasastrategicadvisortothecompany. Thisyearalone,thecompanyhasreportedlyrecordedsignificantmilestonesthathavehelpedbuoyitsgrowth. Bitwiseexperiencedexponentialgrowth,thankstonewproducts ForBitwise,2024hasbeengoodsofar,whichhasseenthecompanyrecordgrowth.Forexample,BitwiseinJanuarylauncheditsfirstspotBitcoinETP,whichsubsequentlygrewtobeoneofthe25fastest-growingETPsinthehistoryofitsover$2.7billionassets. Duringthesecondhalfoftheyear,thecompanylauncheditssecondspotEthereumETP.AccordingtodetailsfromBitwise,thespotEthereumETPwhichwaslaunchedinJulyattractedmorethan$300millionininflowsduringitsfirstthreemonths. InAugust,thecompanyacquiredETCGroup,whichisaLondon-basedissuerofthelargestphysicalBitcoinETPinEurope. Resultantly,Bitwisesuitenowincludestheworld’slargestcryptoindexfund,aleadingthematicequityETF,leadingtospotcryptoETPs,“multi-strategyalphasolutions,separatelymanagedaccounts,andprivatefunds.” “Thisyear,investorshavetrustedBitwisetomanagebillionsofdollarsofinvestmentsinBitcoinandcrypto.” BitwiseCEOHunterHorsley. “We’regratefulforthetrustthey’veplacedinusaswecontinuetobuildBitwisetobeabest-in-classinstitutiontheycanrelyontoaccessthisspace,”addedthechiefexecutiveinastatement. Beginningofthismonth,BitwisefiledforaspotXRPETFexchangeinDelaware. Bitwiserecentlysurpassed$5Binassets.Wecouldn’tbemoregratefultoourclientsandfriends. FromalloftheteamhereatBitwise,thankyou. (Fullpressreleasebelow.)pic.twitter.com/Iujj0NzjLM —Bitwise(@BitwiseInvest)October15,2024 The$5bnmarkcoincideswiththeappointmentofastrategicadvisor Commentingontheannouncement,somecryptoenthusiastsdescribedthis“great”newswhileothersprojecteditwouldbeeasytoreach“$20billioninAUMby2026.” ThedevelopmentcomeswhenthecompanyannouncedtheappointmentofalongtimeETFindustryleaderBerruga.CommentingonBerruga’sappointment,Horselysaidthiswasawelcomedevelopmentandaprivilegetothecompany. “Luishasthenearlyunparalleledexperienceofpioneeringthethematicequitycategoryandscalinganew,enduringassetmanageroverthelastdecade,”hesaid. BerrugaisthefounderandmanagingpartnerofaboutiqueinvestmentfirmLBSCapitalandwasthechiefexecutiveofETFproviderGlobalXduringaperiodinwhichthefirmincreaseditsassetstoalmost$40billionfrom$8billion,becomingaglobalETFpowerhouse. Commentingonhisappointment,Berrugasaid:“I’mthrilledtosupportHunterandtheexecutiveteamastheycontinuetoscale,guidingBitwisetobecomeoneofthetopinstitutionalassetmanagersforthenext100yearsoftheinternetage.” AtBitwise,Berrugawilladviseonstrategicpartnerships,globaldistribution,andmergersandacquisitions. cryptopolitan.com

GrayscalehasfiledarequestwiththeSECtoconvertitsDigitalLargeCapFundintoanETF,accordingtoareportbyTheWallStreetJournal Thefundholdsamixedportfolioofpopulardigitalassets,includingBTC,ETH,SOL,XRP,andAVAX. Grayscale’slatestfilingfollowsitspreviousconversionsoftheGrayscaleBitcoinTrustandEthereumTrustintospotETFsearlierthisyear. TheDigitalLargeCapFundmanagesapproximately$524millioninassets,withnearly75%allocatedtoBitcoinand19%toEthereum.TheremainderoftheportfolioconsistsofsmallerallocationstoSolana,XRP,andAVAX,accordingtoacompanydocument. TheSEC’sapprovalofspotETFsforBitcoinandEtherearlierthisyearmarkedamajorshift,endingalonghistoryofrejectedapplicationsforsuchfunds.ThischangecameafteracourtrulinginfavorofGrayscalecompelledtheregulatortoreconsideritsstance. TheapprovalspurredarallyinBitcoinandEtherpricesandhasfueledawaveofnewfilingsfromassetmanagersseekingtointroduceETFsforsmallerandriskiertokenslikeSolana,XRP,andLitecoin. Grayscale’spotentialfifthETFlaunchoftheyearhighlightsthefirm’sstrategytodiversifyitsofferingsandcatertoinvestordemandforabroaderrangeofdigitalassets. cryptobriefing.com

Cryptopricesareprintinghigher.Bitcoin,forexample,brokeabove$66,000beforecoolingoffearliertoday.Liketheworld’smostvaluablecoin,Solanaanditsmemecoinsaretrendinghigher.AccordingtoCoingecko,SOLtradesabove$150,addingnearly7%intheprevioustradingweek. MemeCoinsSoaringButPELFDeployerDumping Thelift-offinSolanahasseensomeofitsecosystemtokensmassivelybenefit.Amongthemany,Solana-basedmemecoinscontinuetoriphigher.AccordingtoCoingecko,threeSolanamemecoins,includingPopcatandDogWifHat,nowcommandamarketcapabove$1billion. WhileinvestorsarecloselytrackingtheperformanceofPopcat,thefirstcat-themedmemecointobreakabovethe$1billionlevel,somewhalesarefadingthecurrentbullrun.Oneanalyst,citingNansendata,observesthatthedeployerofthePELF,amemecoinonSolana,isoffloading. Initially,thedeployerreceived247millionPELFfor82SOLworth$12,516.Later,theaddressesreceivedanother39.13millionPELF.Accordingtoon-chaindata,theaddresshassold3.2millionPELFfor662SOL. Althoughanalystsbelievethedeployermighthaveoffloadedmoretokensthroughotherunknownaddresses,thewhalecurrentlyownsover$7.8millionworthofPELFatspotrates. Usually,anyliquidationbyawhaleisconsideredbearishandmightsignificantlyinfluencepriceaction.Retailtraders,someinterestedinmemecoins,oftencloselymonitortheaccountsofknownwhales,includingdeployers.Iftheychoosetosell,movingtokenstoaDEX,speculatorswillalsolooktosellbeforepricestank. WillImprovingCryptoSentimentDriveDemand? PELFremainsinanuptrend,judgingbytheformationinthedailychart.Thetokenisupnearly300%fromSeptemberlows.However,PELFisinsideabroaderrangeanddownfromitsMarch2024highs. Ifbuyersaretotakecharge,theremustbeaconfirmationofOctober14gains.Inthatcase,PELFcouldbreakabove$0.0008101,bottomingoutfromQ32024lows. Improvingcryptosentimentcouldliftmemecoins,drivingthemtonewvaluations.AsofOctober15,thetotalmarketcapofSolanamemecoinsexceeds$10.9billion. Interestingly,theycontinuetogrowinstrength,lookingatthenumberofSolanamemecoinsbreakingintothetop10.AccordingtoCoingecko,Dogecoinisstillthemostvaluable.However,DogWifHat,Bonk,andPopcatarenowamongthetop10,flippingFloki,NeiroonEthereumandBrett. FeatureimagefromiStock,chartfromTradingView newsbtc.com

WhileBitcoinremainstheleadingcryptocurrency,manyothercryptosolutionsservespecificindustriesandcontributetotheoverallgrowthofthecryptoindustry.SeveralcryptoprojectsaremakingsignificantstridesinDePIN,AI,Memes,RWA,andgaming. Forinstance,DePIN,theacronymforDecentralizedPhysicalInfrastructureNetwork,usesblockchainandcryptotokenstoincentivizeuserstodevelopandmaintainphysicalinfrastructurenetworks.Althougharelativelynewconcept,DePINprotocolsrepresenta$24.23billionmarketcapsector. Thissectorhasstronggrowthpotential.DePINcoinshavegained0.23%inmarketcapsincetoday’stradingopened,despiteaslowmarket.TopblockchainprotocolsinthissectorincludeInternetComputer(ICP),Filecoin(FIL),Render(RENDER),andGraph(GRT). TheAIsectorhasalsogrownsignificantly,withatotalmarketcapof$30.33billion.Thisincludessomeofthetop-performingcryptocurrenciesofthepastfewmonths,suchasNearProtocol(NEAR),withamarketcapof$6.21billion.Otherwell-knownAIcryptotokensincludeSingularityNET(AGIX),ArtificialSuperintelligenceAlliance(FET),andAIOZNetwork(AIOZ). Inthemeantime,Thememecoinsectorhasbecomeprominent,withamarketcapofnearly$60billion.Mostcryptotradersusememecoinsforspeculationandprofit,althoughsomememecoindevelopersareexpandingtheirusecases.Memecoinsareknownfortheirpricevolatility,attractingmanycryptousersduringbullmarkets.TopmemecoinsincludeDogecoin(DOGE),ShibaInu(SHIB),andPepecoin(PEPE). RealWorldAssets(RWA)tokensmakeupasmalleraspectofthecryptoindustry,withamarketcapof$8billionatthetimeofwriting.MANTRA(OM),Ondo(ONDO),andPendle(PENDLE)comprisethethreetopRWAtokensbymarketcapasofthetimeofwriting.RWAcreatorsusethemtorepresenttangibleassetsthatexistoutsidethedigitalspectrum,includingbonds,realestate,commodities,andmachinery. Cryptogamingprotocols,alsoknownasGameFiprotocols,havea$17.47billionmarketcap.Analystsexpectrapidgrowthinthissector,drivenbythepotentialadaptationofexistingnon-cryptogamingsolutionstobecomeblockchain-compliant.TopGameFisolutionsincludeImmutableX(IMX),Notcoin(NOT),andGALA(GALA). Disclaimer:Theinformationpresentedinthisarticleisforinformationalandeducationalpurposesonly.Thearticledoesnotconstitutefinancialadviceoradviceofanykind.CoinEditionisnotresponsibleforanylossesincurredasaresultoftheutilizationofcontent,products,orservicesmentioned.Readersareadvisedtoexercisecautionbeforetakinganyactionrelatedtothecompany. coinedition.com

Thecryptocurrencymarketisexperiencingrenewedbullishmomentum,withBitcoinrecentlysurpassingthe$65,000mark.Despiteminorcorrections,manycryptocoinsarewitnessingasurgeindemand.Expertssuggestthatthemarket’scurrenttrajectorymayturnsmallinvestmentsintomassivereturnswithinjust60days,furtherfuelingoptimism.