Crypto_MB Club

NEWS:
@Tether_to faces U.S. Justice and Treasury probes over alleged ties to money laundering and sanctions evasion.

Ripple Labs has filed a cross-appeal in the U.S. Court of Appeals for the Second Circuit, contesting several elements of a key ruling in its legal battle with the SEC.

Top 30 Trending Coins on CoinGecko 🦎

This week, we see $MAGA (@MAGACoinX) coming in at first place, followed by $CAT (@SimonsCatMeme) and $TURBO (@TurboToadToken).

Which blockchains have the highest staking yield on CoinGecko? 🧑‍🌾

A recent study found that Cosmos offers the highest yield among blockchains, with staking yields of up to 18.5% and a staking ratio of 59%, representing approximately 248.8 million $ATOM.

🪙 Base Network Leads in Number of Active Wallets

According to CryptoRank.io, Base has the highest number of daily active addresses among all Layer 2 networks — over 1.43 million.

📊 Celo follows with 650,000 active addresses, and Arbitrum takes third place with 470,000 users.

At the same time, Arbitrum has a total locked value (TVL) of $4.01 billion, significantly higher than its competitors.

Base's TVL stands at $3.25 billion, which might be due to users engaging more actively in transactions rather than long-term holdings.

💬 These data indicate that Layer 2 blockchains continue to evolve, offering users faster and cheaper transactions.

Daily Cryptocurrency Market Review

The market shows mixed results. BTC rose to $67,242.14 (+0.2%), while ETH fell to $2,545.58 (-2.74%).

🟢 Rising Assets:

SOL: $174.458 (+5.34%)
BNB: $590.973 (+0.18%)
🔴 Falling Assets:

ETH: $2,545.58 (-2.74%)
ADA: $0.351624 (-3.08%)
AVAX: $27.0134 (-3.14%)

📈 Solana's Layer 1 Blockchain Breaks Records

According to Artemis, over the last 30 days, 7 million unique addresses have conducted at least one transaction on the network. This is 70% higher than the previous figure.

™ The increase in active addresses also led to a rise in daily transaction volume. Over the same 30-day period, the network processed 44 million transactions, marking a 24% increase.

Additionally, the daily economic value of the Solana blockchain, which includes transaction fees and MEV tips, hit a record high of $7.93 million.

🚀 If network activity continues to grow, the price of SOL might surpass the resistance level at $172.53. A clear breakout could push the altcoin to $194.12.

Main news from the world of cryptocurrencies on October 21

🔵 The market maker and crypto venture investor DWF Labs is developing a service for launching meme tokens. The team plans to introduce the solution 'soon' on several blockchains.

🔵 Inflows into crypto investment funds from October 13 to 19 amounted to $2.2 billion, the highest value since July, compared to $407 million the previous week. These figures were reported by CoinShares. Analysts attributed the positive trend to rising expectations of a Republican victory in the upcoming U.S. elections, as the market perceives them as more digital asset-friendly.

🔵 OpenAI's GPT-4o model received the highest score in programming with Solidity, outperforming o1-preview, o1-mini, and competitors. This was revealed in a study by BrainDAO.

🔵 Payment service Stripe has acquired the Web3 company Bridge for $1.1 billion. This was announced by TechCrunch founder Michael Arrington. The deal will allow Stripe to leverage Bridge's expertise in seamless cross-border payments in USDT and USDC, giving the fintech company a competitive advantage in the stablecoin market.

🔵 The London-based company Legal & General, which manages pension fund assets worth over $1.5 trillion, is considering entering the market for tokenized assets. A spokesperson from Legal & General stated that the company plans to join initiatives by major traditional financial players like BlackRock, Franklin Templeton, and Abrdn, who are offering their clients blockchain-based money market funds.

Main cryptocurrency news on the morning of October 21

🔵 Bitcoin started Monday with a decline after an attempt to break through the $69,500 mark. The cryptocurrency is trading at $68,843. Bitcoin's 24-hour low is $68,162 and the high is $69,462. The second-largest cryptocurrency by market capitalization, Ethereum, also started the day with a decline and is trading at $2,735.

🔵 Among the 10 largest cryptocurrencies by market capitalization, Solana achieved the best performance in the last 24 hours (+6.57%), and Dogecoin led the week with a gain of +30.34%. Tron performed the worst, both in the last 24 hours (-0.25%) and over the week (-4.19%).

🔵 The team at Pump.Fun announced plans to launch their own token. Representatives of the Solana-based meme coin exchange revealed this during a presentation of the new trading terminal with advanced features on the X Spaces platform.

🔵 The DeFi protocol Tapioca DAO was hacked, with $4.7 million stolen. In response, the Tapioca team offered the hacker $1 million for the return of the funds. The hackers used social engineering to gain access to the contract and steal the assets.

🔵 The stablecoin Tether (USDT) reached a record market capitalization of $120 billion. This positive momentum could indicate an upcoming rally for Bitcoin and ETH. The increase in the USDT supply is often seen as a precursor to a bull market, as it signals investors' readiness to invest in cryptocurrencies.

🌐 Solana Network Surpasses Bitcoin Blockchain in a Key Metric

This is reported in the "State of Crypto" report by A16z.

📊 According to experts, the number of active addresses on the Solana network is now nearly 100 million, while the number on the Bitcoin network does not exceed 11 million.

Such a significant gap between SOL and BTC, as well as other networks, is driven by the growing interest in the memecoin industry.

🇼🇫 Experts noted that in September 2024, at least 220 million wallets interacted with the Solana blockchain.

Major cryptocurrency news on the morning of October 18th

🔵Bitcoin started Friday with an increase. The cryptocurrency is trading at $68,103. The 24-hour low is $66,647 and the high is $68,199. The second-largest cryptocurrency, Ethereum, also started with a rise and is trading at $2,632.

🔵Among the top 10 cryptocurrencies by market capitalization, Dogecoin showed the best performance in the last 24 hours (+7.72%) and over the week (+24.02%). Toncoin performed the worst in the last 24 hours (-2.60%). Over the week, all top-ten coins showed positive momentum.

🔵In the U.S., there are 26 million voters for whom cryptocurrency policy is important. About 16% of the 1,004 respondents said they would support a candidate who promotes cryptocurrencies. Among them, 25% of Democrats and 21% of Republicans stated that a candidate’s positive stance on cryptocurrencies would increase the likelihood that they would vote for them.

🔵The FBI arrested a resident of Alabama who hacked the SEC’s social media accounts and posted a fake announcement about the approval of a Bitcoin ETF. Eric Council Jr. has been charged with the crime. In January, he and accomplices gained access to the SEC’s X account and posted false information about the approval of a Bitcoin ETF, causing Bitcoin's price to rise by over $1,000.

🐹 The upcoming season of Hamster Kombat promises exciting partnerships with various gaming companies, including developers from both the internet gaming world (WEB2 and WEB3) and tabletop entertainment (TheBlock).

A drop in token prices after the distribution of free coins (AirDrop) is a common occurrence. Users often sell their assets to lock in their profits.

Major Cryptocurrency News on October 17th

🔵 Bitcoin reserves on centralized crypto exchanges have dropped to a multi-year low, according to data from CryptoQuant. Over 51,000 BTC were withdrawn from major trading platforms just in the last month. This trend points to a decreasing liquid supply of the leading cryptocurrency.

🔵 A man from Athens, Alabama, was arrested on Thursday for his involvement in a hacking attack on the X account of the U.S. Securities and Exchange Commission (SEC) in January 2024. The attack resulted in a fake announcement about Bitcoin ETFs, temporarily causing the price of Bitcoin to surge by $1,000.

🔵 The U.S. cryptocurrency exchange Kraken is set to release its own version of "wrapped" Bitcoin called kBTC, as a platform representative stated in an interview with CoinDesk. The token will initially be available on the Ethereum blockchain and the Optimism Layer 2 (OP Mainnet) network.

🔵 U.S. prosecutors have asked the court to sentence Ilya Lichtenstein to 60 months in prison for hacking the Bitfinex exchange and stealing 119,754 BTC in 2016, as well as laundering the stolen assets.

🔵 The total volume of venture capital funding for crypto startups in the third quarter fell by 20% compared to April-June, amounting to $2.4 billion, according to Galaxy Digital. However, compared to the same period last year, the value rose by 21.5%. The decline in funding volume was accompanied by a 17% drop in the number of deals, down to 478.

Main News from the Crypto World on October 16

🔵Based on market data, goatseus maximus (GOAT), a meme coin created by artificial intelligence (AI), has been steadily increasing in value since its launch. In the last 24 hours, it has surged by 132% against the US dollar.

🔵The use of cryptocurrencies in El Salvador continues to raise questions, despite the efforts of the country’s president, Nayib Bukele. The Francisco Gavidia University (UFG) in El Salvador surveyed 1,224 Salvadorans over the age of 18. The survey found that only 7.5% of respondents use cryptocurrencies for transactions.

🔵The Italian Ministry of Finance plans to increase the capital gains tax on crypto assets from 26% to 42% and eliminate the preferential provisions for minimum income from digital services. According to a representative of the Italian Ministry of Finance, the higher tax rate reflects the country’s new economic conditions and the growing public interest in crypto assets. It also aligns with measures to implement the approved budget plan for 2025.

🔵In Argentina, a smart contract on the Cardano blockchain was used for a loan of 10,000 ADA, worth approximately 3,430 US dollars, with an annual interest rate of 10%. This is the first smart contract in Argentina that holds legal validity. The smart contract is a four-month agreement between two Cardano representatives in Argentina, Mauro Andreoli and Lucas Macchia.

⚡ Blockchain Life in Dubai: 2 days of the forum or a year of research?

The market is on the rise again. But it’s too early to shout about a bull run—there's still much ahead.

While it’s impossible to predict market movements, you can get insider information before it hits the mainstream. That's why I’ll be in Dubai on October 22-23 at Blockchain Life 2024.

What will you miss if you don't attend?

1️⃣ Expert market analysis from those who are building this market right now. Founders and top executives from Tether, Ledger, Animoca Brands, TON, and Litecoin will share exclusive information.

2️⃣ Behind-the-scenes negotiations—this is the main reason to go. Just one conversation between two whales can transform your portfolio.

3️⃣ Connections with market leaders. It's impossible to succeed without valuable contacts. Among the 10,000 participants from all over the world, you will easily find the right person for you.

Main news from the world of cryptocurrencies as of October 5

🔵 The mining company Bitcoin Terawulf Inc. has completed the sale of its 25% stake in the joint venture Nautilus Cryptomine for approximately $92 million. This week, the company announced plans to use the proceeds to expand its high-performance computing (HPC) and artificial intelligence (AI) infrastructure at the Lake Mariner facility.

🔵 Cryptocurrency exchange Coinbase Global Inc. has announced plans to remove all stablecoins from its platform that do not comply with the new regulations of the European Union (EU). According to Bloomberg, Coinbase’s decision to remove stablecoins that do not comply with MiCA (Markets in Crypto-Assets Regulation) will take effect by the end of 2024.

🔵 In September 2024, Binance processed 36.6% of the trading volume on centralized platforms for spot and derivatives trading. This is 22% more than its closest competitor, OKX. However, the platform’s share of the spot market dropped by more than 20%. Binance accounted for only 27% of the total spot trading volume, which is its lowest level since September 2020.

🔵 Starting in 2025, banks in North America, Europe, and Asia will begin testing transactions with digital assets through the SWIFT network. The pilot project aims to investigate whether financial institutions can conduct transactions involving cryptocurrencies, tokenized products, and CBDCs on multiple blockchains via the payment platform.

🔵 In October 2024, the latest data shows that decentralized autonomous organizations (DAOs) hold treasuries worth $24.5 billion, which is $12.6 billion less than at the end of March. DAO Optimism, which held $8.3 billion as of March 24, has reduced its treasury to $3.8 billion, yet remains the largest DAO treasury despite the decline.

Top Cryptocurrency News from October 1

🔵 U.S. Federal Reserve Chairman Jerome Powell announced further interest rate cuts to stimulate economic growth and boost employment, according to the WSJ. The top official stated that the overall situation in the country remains stable despite current economic challenges, sparking cautious optimism about future prospects.

🔵 The largest cryptocurrency exchange, Binance, will add banners and pop-up warnings for several coins that have 'undergone significant changes in their tokenomics over the past 18 months.' Starting October 1, the changes will affect the following assets: Travala (AVA); Chiliz (CHZ); Enjin Coin (ENJ); IOTA (IOTA); Lisk (LSK); Metal DAO (MTL); Orion (ORN); Self Chain (SLF); Solar (SXP); Vanar Chain (VANRY).

🔵 The first criminal trial related to illegal cryptocurrency ATMs in the UK has been concluded. Olumide Osunkoya operated a network of at least 11 cryptocurrency ATMs installed in small shops across the UK. Between December 2021 and September 2023, these machines processed crypto transactions worth £2.6 million ($3.4 million USD).

🔵 As September came to an end, some surprisingly old Bitcoins were moved last month — 250 BTC from January and February 2009 were spent for the first time in nearly 16 years. A total of 4,066.81 BTC were transferred from inactive Bitcoin addresses created between 2009 and 2017. At current exchange rates, these formerly silent Bitcoins are worth approximately $257 million.

🔵 Former U.S. President Donald Trump announced the release of the whitepaper for his project, World Liberty Financial (WLF), a decentralized finance (DeFi) platform. In a social media announcement, Trump stated: 'I plan to make America the crypto capital of the world! The whitepaper for qualified individuals is officially open — this is your chance to be part of this historic moment.

📈 A BTC Rise to ATH in the Near Future Is Unlikely

This was stated by experts at Santiment.

📊 They analyzed social sentiment and concluded that for every bearish post on social media, there are two posts where users expect BTC to rise.

However, historically, markets tend to move in the opposite direction of mass expectations.

🇨🇳 Experts also noted that there is a decline in demand for stablecoins in China.

This could limit BTC's growth potential in the near future, as stablecoins play a crucial role in providing liquidity to the cryptocurrency market.

Top Cryptocurrency News from September 30

🔵 On September 27 and 29, the Zilliqa blockchain encountered two bugs, forcing developers to temporarily halt transactions to resolve the issues. Two days later, a similar incident led to a complete temporary suspension of the process. The developers clarified that the problems are not related to the Zilliqa 2.0 update.

🔵 On September 30, 2024, Ethereum's price consolidated around $2,630 after testing key support and resistance levels. The market is showing mixed dynamics, as oscillators point to a neutral state, while moving averages provide conflicting signals.

🔵 AI models are more likely to lie than to admit they don’t know something. This behavior becomes more evident as the language model grows, as noted in a study published in Nature. AI tends to respond confidently, even when the answer is factually wrong, because it has been trained to believe that information. The models do not recognize their own ignorance, the authors observed.

🔵 Since September 28, customer support at the American cryptocurrency exchange Coinbase has been receiving complaints from users about difficulties in withdrawing and moving crypto assets. Coinbase’s support team informed users that such restrictions may be introduced if the security system detects a potential threat from a compromised user account."

https://x.com/0xPolygon/status/1828490520340865472