Betting Star

Solana, the third most popular blockchain, has been on a tear the past few weeks thanks to AI memecoins, a new niche in crypto that blends artificial intelligence and cryptocurrencies derived from internet jokes. The run has sent Sol, the native-token of the Solana blockchain which many memecoins are built on, above $175 for the first time in two months.

While the broader crypto market continues to consolidate this week following early October lows, Solana’s gains have outpaced those of the largest cryptocurrencies. Sol is outperforming Bitcoin, Ethereum, XRP and others included in the CoinDesk 20 Index. Solana is up 19% over the last seven days while, in contrast, Bitcoin is up 0.8%, and Ethereum and XRP are down 3%.

This month’s price action from Solana, which touts itself as an alternative to Ethereum’s high fees and slow transaction rates, has brought SOL to a new all-time high against Ethereum, with 1 Sol equivalent to 0.07 Ethereum, and the highest price against Bitcoin since August.

AI memecoins have captivated the crypto community since Goatseus Maximus, a new memecoin, sparked conversation about the intersection of the two technologies. The frenzy has sent daily active users on the Solana blockchain to a record high of almost 9 million and caused transaction fees on Wednesday to reach a high of $4.5 million, according to DeFiLlama data.

Goatseus Maximus, or GOAT, was created on October 10 by an anonymous developer known as Pump.fun and gained massive attention when Marc Andreessen-backed AI bot Truth Terminal endorsed it on X.

The token, founded on the AI bot’s fixation with goat memes, has reached a market cap of $722 million since its creation two weeks ago and triggered a flurry of new AI-created memecoins.

The sector has reached a market cap of over $2 billion, up 24% in the last day, according to CoinGecko. Other Solana-based memecoins are up in the frenzy as well. “Popcat” and “cat in a dogs world” are both up over 20% this week.

Another factor in Solana’s recent run may be the ongoing rapid expansion of decentralized finance, or DeFi.

Solana is up more than 450% this year. Since January, the total value locked on Solana—the U.S. dollar value of digital assets staked on a blockchain through DeFi— has almost quadrupled to $6.9 billion.

FOMOFNDAVAXFOMOFOMO

By Thecoinrepublic.com
9m ago
•
6 mins read

Table of Contents
Big Developments For Avalanche Foundation This OctoberAVAX Price Retests Ascending Channel Pattern’s Lower Support Trendline
Crypto markets are bracing for the next big surge. Avalanche (AVAX), alongside several other cryptos, is positioned as a strong contender. Recently, the AVAX price attempted a breakout towards $30, while Bitcoin (BTC) briefly approached the $70,000 mark.
However, BTC’s price returned after hitting a monthly high of $69,498. Similarly, AVAX retraced from $29.86. Over the past week, increased geopolitical tensions have triggered a notable market-wide decline.
That impacted significant cryptocurrencies. Bitcoin’s price fluctuations, given its market dominance, continued to influence other assets, and AVAX price is no exception. Despite this volatility, BTC’s ability to hold steady above $66,150 this month has kept bullish sentiment alive among investors. This set the stage for potential market shifts.

AVAX crypto stabilized at around the $25 support level at the time of writing. However, it remained below key exponential moving averages, including the 200-day EMA. Read on to discover potential scenarios for the AVAX price in the upcoming sessions.
Big Developments For Avalanche Foundation This October
In the second week of October, the Avalanche Foundation reclaimed tokens to help streamline Terraform Labs’ bankruptcy process. It is the parent company behind Terra. This strategic action strengthened Avalanche’s asset reserves and supported ecosystem growth.
This move safeguarded them by reducing the risk of a major market sell-off and underscoring the importance of risk management. This buyback was executed at prices well below the market levels.
That led to an immediate surge in the AVAX crypto in the second week. Also, the price jumped from around $25 to nearly $29.50.
In October, the Avalanche ecosystem thrived, and notable developments occurred. A highlight was its expansion in the Web3 gaming sphere. It was mainly through the innovative @playoffthegrid initiative.

Russia hosted the BRICS summit, where Vladimir Putin proposed a new financial system without the dollar. What is known about it?

During the BRICS summit in Kazan, Russian President Vladimir Putin noted that the issue of creating a single currency is not yet relevant since it is not yet ripe.

He explained that the development of such a currency requires a high degree of integration of economies, which should be of “comparable quality and volume.” This remains a prospect for the future.

At the same time, Russia offered its BRICS partners the opportunity to use digital currencies for investment. Finance Minister Anton Siluanov clarified that this is about a new BRICS payment system, including a system for transmitting financial messages between banks and a platform for using digital financial assets.

Chairman of China prime minister emphasized that the BRICS countries need to work on creating new digital platforms. The core of the reform proposed by the head of the PRC is a new system for international payments called BRICS Pay based on blockchain and CBDC.$BTC

The U.S. Securities and Exchange Commission (SEC) approved stock exchange rule changes that permit the listing of options tied to spot bitcoin ETFs, broadening the investment ecosystem around products that've received billions of dollars of inflows this year.
According to two memos from the SEC published Friday afternoon, NYSE will be allowed to list and trade options on the Grayscale Bitcoin Trust (GBTC), the Grayscale Bitcoin Mini Trust (BTC) and the Bitwise Bitcoin ETF (BITB). Cboe Global Markets got approval to list and trade options on the Fidelity Wise Origin Bitcoin Fund (FBTC) and the ARK 21Shares Bitcoin ETF (ARKB).

TRONIX is a MainNet token based on the TRON Protocol issued by TRON, known as TRX. TRX is the basic unit of accounts on the TRON blockchain. The value of all other tokens derives from that of TRON. TRX is also a natural medium currency for all TRC-based tokens. TRX connects the entire TRON ecosystem, with abundant application scenarios that power transactions and applications on the chain.