šš Bitcoin Soars in BlackRockās Hands While Ethereum ETFs Face Outflows š¼šø
#BlackRock has expanded its #Bitcoin holdings to 403,725 $BTC valued at approximately $27.73 billion, adding 4,369 BTC worth around $300 million just in the last day.
Over the past week, the iShares ETF gained a total of 17,110 BTC, equivalent to $1.18 billion.
Bitcoin #ETFsā across major funds now hold 972,575 BTC, with a net inflow of 14,782 BTC in the past seven days.
In contrast, #Ethereum ETFs saw a net outflow of 2,917 ETH, with the largest outflow from the Grayscale Ethereum Trust, which lost 14,841 $ETH over the week.
This enhancement allows users to quickly transition from asking about a token's ticker to sharing detailed information with a single click.
The new feature provides access to interactive token pages with essential data, such as performance charts and price history, improving communication and understanding among users.
To share a token, users can select any token from their list within the Phantom Wallet and click the share option to generate a link.
The recipient can view all relevant information about the token, facilitating more informed conversations about #crypto investments.
šāļøš Indian National Sentenced to Five Years in Prison for $20 Million Cryptocurrency Fraud šāļøš
Chirag Tomar, a citizen of India, has been sentenced to five years in #prison for a fraud scheme that stole over 20 million by using fake websites that impersonated the cryptocurrency exchange #Coinbase
The scheme began in June 2021, creating a counterfeit site that mimicked Coinbase Pro, tricking users into entering their login credentials.
After accessing victims' accounts, the fraudsters transferred the #cryptocurrency to wallets under their control, moving funds across multiple addresses to evade detection.
Tomar used the stolen money to support a lavish lifestyle, including luxury watches and high-end cars.
Arrested on December 20, 2023, at Atlanta airport, he pleaded guilty to wire fraud conspiracy in May 2024.
He will serve 60 months in prison, followed by two years of supervised release.
The case was investigated by the United States Secret Service and the FBI.
šš Stellar Enhances Security with Blockaid Integration šš
Blockaid has integrated its #OnchainDetection and #Response (ODR) technology into the Stellar blockchain, initially focusing on the Lobstr and Freighter wallet applications.
Announced on October 17, this integration enhances user security by providing real-time detection and response to potential threats.
Blockaid has scanned over 4.5 billion transactions and blocked more than 100 million attacks, preventing losses exceeding $4 billion.
The technology alerts users about harmful transactions and decentralized applications (DApps), acting as an antivirus for #Web3š¤š„š platforms.
$XLM continues to expand its ecosystem and is collaborating with Next Generation and Decta to launch EURT, a euro-pegged stablecoin.
This reflects a trend toward regulatory clarity for #cryptocurrencies in the European Union under the new Markets in Crypto-Assets (MiCA) regulations.
šš Exciting Update: Decentraland Launches New Desktop Client! šš
#Decentraland will launch a new desktop client on October 22, enhancing user experience with improved performance social interactions, and features like #Badges and Daily Missions.
This update follows the release of White Paper 2.0, which outlines the platform's evolution since 2017 and serves as a guide for all users.
$MANA #decentralized nature empowers users to control their digital assets and actively contribute to the ecosystem.
As demand for virtual spaces and #metaverse increases post-pandemic, Decentraland provides a platform for self-expression, creativity, and a sense of belonging.
$ETH is preparing for the #Pectra fork, scheduled for late 2024 or early 2025, which includes Ethereum Improvement Proposal (EIP) 7742.
This proposal will enable the #dynamic adjustment of #blob gas targets and maximum values to improve network scalability.
Blobs are temporary data chunks in transactions that help reduce costs for #layer2 operations.
Christine Kim from Galaxy Digital confirmed this update after the "All Core Devs" meeting, noting that the current blob capacity is nearing its limit.
An increase in blob count is likely to be part of the Pectra upgrade, although changes like gas limit adjustments are unlikely.
The dynamic adjustment of blob parameters aims to enhance transaction flexibility and alleviate potential bottlenecks.
This update aligns with Ethereum's roadmap, known as the "Surge," which targets a capacity of 100,000 transactions per second across the mainnet and layer-2 solutions.
The implementation of EIP-7742 is crucial for maintaining the network's efficiency and competitiveness in the blockchain ecosystem.
š»š Alert: EigenLayer's X Account Hacked š°
EigenLayer's X account was hacked, resulting in the theft of approximately $800,000 in #mETH
The attack started around 11:20 AM when the compromised account posted a #phishing link claiming the "EIGEN stakedrop Phase 2 is now open."
Although the post was quickly deleted, multiple similar messages followed, including a seven-part thread that warned users of potential phishing attempts.
Hackers used an image of a dog to lure users into clicking the malicious links.
Security analysts from #ScamSniffer reported that a victim lost a significant amount after signing a permit phishing signature likely related to the fraudulent tweet.
The account continues to share phishing links, raising concerns about ongoing risks in the #crypto community.
šš Crypto Market Update: Key Developments This Week šš¹
The cryptocurrency market has seen significant changes, with #Bitcoin nearing $64,000 following positive U.S. labor data, easing recession fears.
#Bitwise has filed for an #XRP ETF, but this has not boosted XRP's price, which remains under pressure from market declines and geopolitical tensions.
The SEC's concerns about market manipulation complicate ETF approval for XRP, particularly amid ongoing legal issues with #Ripple Labs.
In Japan, daily cryptocurrency trading volumes have halved to around $200 million, indicating waning interest, while trading in the U.S. and South Korea has increased.
Regulatory scrutiny on privacy tokens is rising, leading to delistings like #Monero on Kraken, driven by concerns over money laundering.
As regulations tighten, digital asset issuers must implement measures against fraud and manipulation, with established firms like Grayscale and Bitwise navigating a challenging landscape amid ongoing market volatility.
š Ethereum Layer 2 Adoption Declines While Base Thrives š
Ethereumās Layer 2 scaling solutions are seeing a significant drop in adoption as Coinbaseās Base network continues to set records.
On October 6, the combined throughput of $ETH Layer 2 and Layer 3 networks fell to an average of 254.5 transactions per second (TPS), a 73% decrease from the all-time high of 440.4 TPS on August 20.
Layer 2 rollups also hit their lowest throughput since June 10, recording 101.8 TPS, down 33.5% from 153.2 TPS on September 11.
In contrast, Base achieved over 66 TPS on October 4 and nearly 1.52 million active addresses, while total active addresses across all Layer 2 solutions decreased from 10 million in early September to about 8.82 million.
Arbitrum and Linea faced severe declines, with Lineaās active users down 87% from a high of 765,777 in July, now around 100,000 wallets, and processing only 2.58 TPSāa 95.3% drop from 55.7 TPS on March 31.
Arbitrum reported 429,000 active users, a 62% decline from 1.13 million in May, with transaction counts also down by 35.7% from a June peak of 2.65 million.
In Arbitrumās Layer 3 ecosystem, Xaiās TPS is at 66.6, but this is more than half of its July high. Its 30-day transaction count increased by 8.29% to 201 million.
Other projects, including PlayBlock and Winr, are experiencing varying transaction volumes as the Layer 2 landscape evolves.
āØš Crypto.com and 21.co Join Forces to Boost Bitcoin Liquidity! šāØ
21.co has partnered with Crypto.com to enhance #Bitcoin liquidity for its #WrappedBitcoin (21BTC).
The collaboration aims to improve custody solutions and liquidity for retail and institutional investors.
21BTC will utilize Crypto.comās extensive #liquidity and competitive fees, along with Chainlinkās proof of reserve for #transparency.
Itās important to note that 21BTC may not be accessible to all investors due to jurisdictional restrictions. 21.co prioritizes user protection through cold storage and regulated custodians.
This partnership is set to increase access to cryptocurrencies and foster innovation in the digital asset market.
šš Metaplanet Boosts Bitcoin Holdings with $6.7 Million Purchase šš
Metaplanet Inc., a Tokyo-based investment firm, has acquired 108.786 BTC for approximately 1 billion yen (around $6.7 million), raising its total holdings to 639.503 BTC, valued at about $40.6 million.
The recent purchase was made at an average price of 9.19 million yen ($61,880) per bitcoin.
Since May, Metaplanet has actively integrated bitcoin as a strategic reserve asset.
Additionally, the firm earned approximately 23.972 BTC through bitcoin options trading, valued at about $1.52 million.
š $7.7 Billion in Bitcoin and Ethereum Options Expiry Set to Shake Market š„
The #cryptomarket faces potential #volatility as $7.7 billion in options for #Bitcoin and #Ethereum expire today. Bitcoin options account for $5.8 billion, while Ethereum's total reaches $1.9 billion.
Data from Deribit shows 89,037 Bitcoin contracts expiring, with a put-to-call ratio of 0.64 and a maximum pain point of $59,000. Ethereum, with 719,130 contracts, has a put-to-call ratio of 0.47, with its maximum pain point at $2,550.
Recent rallies have pushed Bitcoin from $57,000 to $65,075, and Ethereum from $2,278 to $2,625. Traders anticipate further market movement as contracts settle.
Vitalik Buterin, co-founder of Ethereum, highlighted the potential of integrating #AI with #cryptocurrency, focusing on advancements in prediction markets and #DAOs. He emphasized the efficiency AI could bring to decentralized decision-making processes.
However, there are challenges in areas like #ZeroKnowledgeProofs, which are critical for privacy and security in crypto transactions but difficult to optimize with AI.
Despite these limitations, Buterin and industry leaders see immense potential in the synergy between AI and crypto, advocating for collaboration between cryptography and AI experts to unlock future innovations.
šš Massive Bitcoin ETF Inflows on September 26 š°š
On September 26, U.S. spot #Bitcoin ETFs recorded an impressive net inflow of $365.57 million, the highest since July.
Leading the charge were BlackRockās IBIT with $93.4 million and Ark Investās ARKB, which saw $113.8 million in inflows. Other major players included Fidelityās FBTC with $74 million and Bitwiseās BITB at $50.4 million.
In total, U.S. spot #BitcoinETFs have amassed $18.31 billion in cumulative net inflows. In contrast, Grayscaleās GBTC posted $7.73 million in outflows.
Ethereum ETFs, like Grayscaleās ETHE, struggled with $36 million in outflows, highlighting continued #challenges for Ethereum.
š Grayscaleās Latest Crypto Picks for Q4 š
Grayscale Research updated its list of top 20 crypto assets, adding new entries like #Sui and #Optimism, based on network growth and strong fundamentals.
Suiās fast adoption followed a transaction speed boost, while Optimism is key to Ethereumās scalability and the "Superchain" ecosystem.
Assets like #Celo, focused on payments, and #UMA for prediction markets, highlight major trends in the space.
With U.S. elections nearing, regulatory changes could impact the #crypto market, making it crucial for investors to stay informed.
š Massive $2B Crypto Unlocks Set for October, Led by Celestia ($TIA) š°
In October 2024, nearly #2B in crypto assets will be unlocked, with the largest release coming from #Celestia (#TIA), set to unlock #1.1B in tokens on October 31. This includes 175.75 million tokens allocated to early contributors, development teams, and investors.
Cheelee will unlock $300M in #CHEEL tokens on October 10, after recent price fluctuations from $16 to $12. Other major projects like Starknet, Aptos, and Arbitrum will add $600M in liquidity, testing the market's ability to absorb these releases.
#FidaFinance " data-hashtag="#FidaFinance" class="tag">#FidaFinance has introduced a new feature allowing investors to stake $ADA collected through their platform, including both the premium pool and locked collateral.
Staking requires manual action to register credentials and choose a #stake pool.
A collateral fee applies but can be recovered if opting out.
Following this announcement, #Fida token has surged over 70% and is currently trading at $0.3905.
The rise reflects growing investor interest and confidence in the new staking option, offering enhanced control and flexibility in investment strategies.
Cooking has arrived in VulcanVerse as the first profession, adding a new dimension to #survival and #strategy.
Players can now gather resources like fish and foraged items to create food, which replenishes the Satiety bar and maintains Stamina.
The cooking process requires players to stay stationary; any movement cancels the cooking, though ingredients are not lost.
Food crafted provides additional benefits, such as faster stamina regeneration and the ability to use consumables while moving.
Hestia #NFTā owners benefit from a faster cooking process and enhanced food effects, while others can utilize special locations like the Fortress of the Wind in Boreas and Hades Port for similar buffs.
This launch signals the start of multiple professions in VulcanVerse, enriching the gameplay with new mechanics.
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