BlackRocks iShares Bitcoin Trust, with the ticker code IBTC, has been listed on DTCC (Depository Trust s important to note that this listing does not imply that the ETF has been approved by the SEC (U.S. Securities and Exchange Commission).
The recent surge in Bitcoin‘s price over the weekend caught many market observers by surprise. The alpha coin marked a 1.5% gain in the last 24 hours, bringing Bitcoin’s value above the psychologically important $30,000 threshold, which also serves as a key resistance level. At the time of writing, Bitcoin was trading at $30,154, up 12% in the last seven days, data from crypto market tracker Coingecko shows. On October 16th, the cryptocurrency briefly spiked to around $30,000 on Binance due to false reports of an approved spot Bitcoin ETF. However, as soon as the truth about these reports came to light, the market swiftly corrected. Just two days later, Bitcoin once again rallied to $30,000, but it struggled to maintain this crucial level, facing resistance and fluctuations. These multiple attempts indicate the significance of the $30,000 price point as a key battleground for Bitcoins near-term price movements.Influential Factors Behind Bitcoin‘s Recent Surge The recent surge in Bitcoin’s price doesn‘t have a clear cause, but it’s likely driven by market optimism surrounding the potential approval of a Bitcoin ETF by the U.S. Securities and Exchange Commission. This optimism is based on the belief that a Bitcoin ETF approval would offer more accessible and regulated
Binance Visa debit card service in Europe will be discontinued due to regulatory scrutiny and retrenchment. Existing cardholders can use their cards until Dec. 20, as per BBG. Binance is reportedly discontinuing its Visa debit card service in Europe. The decision comes as Binance faces increasing regulatory scrutiny and retrenchment from major financial partners. Existing cardholders in the European Economic Area will still be able to use their cards until December 20. However, new applications for the Binance Visa Card are no longer being accepted.Impacts of Binance Visa debit card discontinuing According to a Binance spokesperson, approximately 1% of Binances user base will be affected by this change. The Binance Visa Card allowed users to convert and spend cryptocurrencies at over 60 million online and offline merchants worldwide. It was made available to users in European countries such as France, Germany, and Spain. Binances partnership with Visa has been scaled back, with Visa ceasing the issuance of new co-branded cards with Binance in Europe since July. The move follows increasing regulatory pressure on Binance from US authorities, including the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The SEC has sued Binance and its CEO Changpeng Zhao for securities rule
Philippines-based crypto exchange Coins.ph is rumored to be the latest victim of an exploit that has potentially led to the loss of 12.2 million XRP ($6 million) for the firm. However, a part of these funds seem to have already been recovered. Related Reading: A Precious Rally: Bitcoin And Gold Revisit August PeaksEvidence Of The Alleged Exploit According to a report by The Block, the hack on the crypto exchange occurred on October 17, with the media outlet citing a source familiar with the matter. Coins is yet to release an official statement as to whether or not the incident truly occurred. However, on-chain data suggests that this exploit might have indeed occurred, as The Block noted. According to data on the blockchain explorer XRP scan, the crypto exchange experienced 13 outflows, with 999,999.999 XRP sent out from the exchange in each transaction to the same wallet, although the last batch seems not to have been processed. Following that, a further 200,000.999999 XRP was sent out of the exchange. It is worth mentioning that all these transactions occurred in the space of 32 minutes as they all occurred simultaneously. The total of these transactions (the ones processed) sums up to over 12.2 million XRP.XRP
Cryptocurrency influencer Bitcoin Archive posted on X platform, stating that according to FactSet data, as of October 20th, Bitcoin is the best-performing asset class since August 10, 2020, when MicroStrategy first purchased Bitcoin. During this period, Bitcoin has risen by 147%, while the S&P 500 index has increased by 26%, the Nasdaq index by 18%, gold has fallen by 3%, silver by 19%, and bonds by 24%.
The Aave community has initiated a new proposal on the governance page, suggesting the introduction of user aTokens as a voting mechanism called “Userocracy.” The proposal highlights the current issue with the Aave DAO, where Aave token holders have all ownership and voting power, while protocol users have no voting rights. This has created an oligarchic system where early Aave owners and Aave token holders keep increasing their voting power. However, users are the most valuable assets of the protocol. As Aave users lack any voting rights, their capital is at risk within the protocol. Therefore, it is proposed to make the following changes to the DAO: 50% of the voting power would belong to Aave token holders. 50% of the voting power would belong to users, namely aTOKEN holders (including debt and collateral).
According to the community user @SanjFomojis on the X platform, “Currently, different markets are using different versions of ord, and they index different token IDs. Before Magic Eden, OKX, and UniSat Wallet all adopted the same ordinal numbers, there is a risk of double-spending when trading BRC-20 tokens.” Magic Eden announced on the X platform, “We have temporarily suspended BRC-20 token trading to best protect our users until all BRC-20 tokens achieve full consensus.” Magic Eden stated that all other transactions on their platform are operating normally and are not affected.
Superdao, a platform for Web3 growth and DAO creation, has announced that it will be shutting down. Superdao began building growth and analytics tools for existing Web3 projects in 2022. However, it found that the crypto industry itself had become much smaller than its initial ambitions of being the “new internet.” Providing specialized tools for crypto companies was less likely to yield venture-scale returns. With this perspective, Superdao has decided to return the remaining significant funds to investors and gradually wind down its operations. The team members of Superdao have already founded at least seven new companies, and some of their work will be released as open-source projects. Earlier in January 2022, Superdao announced a successful seed round financing with a valuation of $160 million, raising $10.5 million. Investors included AllianceDAO, Signal Fire, Pear VC, DIGITAL, One Block Capital, among others.
Alliance DAO has announced its latest batch of All11 Demo Day-selected startup projects. Out of 1083 applications, only six teams have been accepted into the program and are graduating. Additionally, two startups from All10 are also participating in the showcase. Here are introductions to these eight startup companies: Kravata: A bridge between Latin American fiat and cryptocurrencies, currently preparing for a seed round of financing. Its services include on-ramps and off-ramps for converting fiat currencies into cryptocurrencies, as well as market-making and cross-border transfer systems. Investors include Circle Ventures, Framework Ventures, Alliance DAO, and others. Thunder: An on-chain trading terminal, currently seeking strategic investors for a seed round of financing. Thunder is a product of Eversify and is an “intent-based” on-chain trading terminal aimed at providing users with support for major blockchain and trading platforms like OpenSea and Uniswap. Sleepagotchi: A sleep game based on NFTs, designed to gamify sleep by using NFTs to help people develop healthy sleep habits. Its already available on the Apple App Store and previously raised $3.5 million in funding in January, with participation from 6th Man Ventures, Sfermion, 1kx, Shima Capital, and others. It is currently seeking strategic investors. Blockcast: A decentralized broadcast delivery network, currently undergoing a
DefiLlama data indicates that there are currently four Web3 social protocols with Total Value Locked (TVL) exceeding $1 million. These protocols are as follows: friend.tech, based on Base, with a TVL of $44.39 million. Tomo, based on Linea, with a TVL of $1.88 million. New Bitcoin City, based on the Bitcoin Layer2 network NOS, with a TVL of $1.59 million. Stars Arena, based on Avalanche, with a TVL of $1.3 million.
