Record BTC Rally Wipes Out $1B in Shorts Bitcoin rocketed p | crypto reporters on Binance Square

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Record BTC Rally Wipes Out $1B in Shorts
Bitcoin rocketed past $118,000, triggering over $1.13 billion in liquidations—90% from short positions. Ether futures also saw $240M wiped out. Coins like $BTC , $ETH , $XRP , and DOGE soared, rattling bearish traders globally.
 

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Ethereum Prepares for Pectra Upgrade in Q4 Ethereum $ETH developers confirmed that the Pectra upgrade, combining Prague and Electra proposals, will launch in Q4. The upgrade focuses on enhancing wallet usability and improving staking infrastructure. Key features include account abstraction and light client support. ETH remains stable near $3,200 despite market volatility. The upgrade is expected to make Ethereum more user-friendly for mainstream adoption. Analysts say Pectra could trigger a new wave of developer activity and app innovation. Competing chains like Solana (SOL) and Near Protocol (NEAR) may feel pressure to keep up.

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Polkadot Unveils Asynchronous Backing Upgrade Polkadot $DOT released its long-awaited asynchronous backing update, improving block production speed by 50%. The upgrade significantly enhances scalability and parachain performance. DOT rose 5% following the announcement. Developers say this makes Polkadot more attractive for complex dApps and gaming projects. The network has also launched new parachain slots, allowing more projects to join the ecosystem. Competitors like Cosmos (ATOM) and Avalanche (AVAX) are also innovating in modular blockchain architectures, but Polkadot’s unique relay chain-parachain model continues to gain traction.

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Arbitrum TVL Surpasses $3 Billion Amid DeFi Growth Arbitrum $ARB , a layer-2 scaling solution for Ethereum, has seen its total value locked (TVL) surpass $3 billion, driven by renewed interest in DeFi platforms like GMX and Radiant Capital. ARB token surged 8% this week, outpacing other L2s like Optimism (OP) and Base. Arbitrum’s low fees and high throughput make it an attractive choice for developers and users alike. Analysts believe ARB could become a dominant force in Ethereum’s scaling war if momentum continues. Airdrop rumors and new dApps are also fueling hype.

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Cardano Launches Midnight for Private Smart Contracts Cardano $ADA launched its long-anticipated sidechain, Midnight, focused on privacy-preserving smart contracts. Midnight uses zero-knowledge proofs to enable confidential transactions and compliance features. The project aims to attract enterprise adoption by addressing privacy concerns in public blockchains. ADA rose 6% after the announcement. Developers say Midnight will allow a mix of public and private smart contracts on one network. The move puts Cardano in competition with privacy coins like Monero (XMR) and Secret Network (SCRT), but with added regulatory compliance options.

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Chainlink Powers Real World Asset Tokenization Chainlink $LINK has become the leading oracle solution in real-world asset (RWA) tokenization. This week, a European bank used Chainlink’s proof-of-reserve to tokenize government bonds worth €200 million. The move adds credibility to DeFi's growing role in traditional finance. LINK gained 9% on the news and is expected to benefit further as more institutions experiment with blockchain-based asset issuance. Competitors like API3 and Band Protocol (BAND) are also ramping up efforts, but Chainlink remains the industry standard for secure, reliable data feeds.

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