🚀 Bitcoin(BTC) Surpasses 57,000 USDT with a 3.38% Increase in 24 Hours
#Bitcoin #BTC #USDT #cryptocurrency #trading #Binance #marketdata #priceincrease #finance
On Sep 10, 2024, 15:25 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 57,000 USDT benchmark and is now trading at 57,039.988281 USDT, with a narrowed 3.38% increase in 24 hours.#Bitcoin #BTC #USDT #cryptocurrency #trading #Binance #marketdata #priceincrease #finance
🚀 Monero Community Refutes Chainalysis Claims on Transaction Traceability
#Monero #Chainalysis #Privacy #Blockchain #TransactionTraceability #Cryptocurrency #Tor #IPaddress #Community
According to Odaily, members of the Monero community have dismissed claims by Chainalysis regarding the traceability of Monero transactions. Csilla Brimer, a leader within the Monero community, stated that Chainalysis tracks IP addresses connected to their Monero nodes, which they refer to as 'fake proxy nodes.' Brimer emphasized that protecting IP addresses is crucial to prevent tracking, advising users to avoid connecting to these nodes or to use Tor for enhanced privacy and security. Previously, a leaked Chainalysis presentation to the U.S. Internal Revenue Service claimed that the blockchain analysis company has been able to trace Monero transactions since 2021. However, Chainalysis has not publicly commented on the video.#Monero #Chainalysis #Privacy #Blockchain #TransactionTraceability #Cryptocurrency #Tor #IPaddress #Community
🚀 Hedera Proposes HIP-850 to Enhance NFT Supply Key Functionality
#Hedera #HIP850 #NFT #supplykey #metadata #upgradeto0.53 #Hederaecosystem #HBAR
According to Odaily, Hedera has initiated HIP-850, a proposal aimed at enhancing the supply key functionality for NFTs within treasury accounts. This proposal is set to be implemented with the mainnet upgrade to version 0.53. The enhancement will grant supply keys the ability to update NFT metadata while the NFTs reside in treasury accounts, significantly boosting the Hedera ecosystem.#Hedera #HIP850 #NFT #supplykey #metadata #upgradeto0.53 #Hederaecosystem #HBAR
🚀 US Election May Overshadow Monetary Policy, Says Analyst
#USElection #MonetaryPolicy #MarketFocus #SaxoBank #FixedIncome #EconomicImpact #InvestorExpectations
According to Odaily, Saxo Bank's Head of Fixed Income Analysis, Althea Spinozzi, has indicated that the upcoming US election could take precedence over monetary policy in terms of market focus. Spinozzi highlighted that the outcome of the election might significantly impact major economies. She noted, 'Regardless of the result, we might witness a very different world, and investors will need to adjust their expectations accordingly.'#USElection #MonetaryPolicy #MarketFocus #SaxoBank #FixedIncome #EconomicImpact #InvestorExpectations
🚀 SwissBorg Launches USDC Earn Product Utilizing Morpho Protocol
#SwissBorg #USDCEarn #MorphoProtocol #Cryptocurrency #Fintech #CeFi #Web3 #YieldGenerating #CustomizedProducts #CryptoMarkets
According to BlockBeats, on September 10, SwissBorg, a fintech platform focused on cryptocurrency and serving the European market, announced the launch of a yield-generating USDC Earn product utilizing the Morpho protocol. This new product is now available to SwissBorg app users, providing Web2 audiences with access to the customized Morpho Vault.
SwissBorg's USDC Earn product can access Morpho's WBTC/USDC and wstETH/USDC markets, marking the first time Morpho Vaults are used in a centralized finance (CeFi) environment. SwissBorg stated that Morpho Vaults offer customizable infrastructure, allowing CeFi platforms to build tailored products. This approach aims to reduce the perceived risks associated with typical Web3 lending protocols, which expose all users to a broad range of assets under a single, standardized risk profile.#SwissBorg #USDCEarn #MorphoProtocol #Cryptocurrency #Fintech #CeFi #Web3 #YieldGenerating #CustomizedProducts #CryptoMarkets
🚀 Cryptocurrency Market Expected To Surge After Macroeconomic Uncertainty Eases
#Cryptocurrency #Market #Surge #MacroeconomicUncertainty #InterestRates #CPI #FederalReserve #Investment
According to Odaily, Bitwise Chief Investment Officer Matt Hougan anticipates a significant rise in cryptocurrency prices once the current macroeconomic uncertainties begin to dissipate in October and November. Hougan noted that markets generally dislike uncertainty, and the present environment is filled with it. While there is a widespread belief that the Federal Reserve will cut interest rates, the likelihood of a 50 basis point cut in September has decreased. However, with the upcoming Consumer Price Index (CPI) data release on Wednesday and a crucial Federal Reserve meeting next week, the probability of a rate cut exceeding 125 basis points by December has increased.#Cryptocurrency #Market #Surge #MacroeconomicUncertainty #InterestRates #CPI #FederalReserve #Investment
🚀 Andreessen Horowitz To Host First Hack UK Hackathon In London
#AndreessenHorowitz #HackUK #hackathon #London #blockchain #artificialintelligence #infrastructure #digitalidentity #healthcare
According to Odaily, Andreessen Horowitz (a16z) has announced plans to host its inaugural HACK UK hackathon in central London from October 5 to 6. The event aims to foster the growth of the UK's tech industry, focusing on five key themes: blockchain applications, artificial intelligence enhancement, public infrastructure upgrades, digital identity verification, and the future of healthcare.#AndreessenHorowitz #HackUK #hackathon #London #blockchain #artificialintelligence #infrastructure #digitalidentity #healthcare
🚀 Aevo Launches NEIRO Perpetual Contracts on Ethereum
#Aevo #NEIRO #PerpetualContracts #Ethereum #Blockchain
According to Odaily, Aevo has announced on Platform X that it has launched NEIRO perpetual contracts on the Ethereum blockchain.#Aevo #NEIRO #PerpetualContracts #Ethereum #Blockchain
🚀 Paypal And Venmo Integrate Ethereum Name Service For Crypto Transactions
#Paypal #Venmo #Ethereum #ENS #Crypto #Cryptocurrency #Blockchain
According to Odaily, ENS Labs announced on Tuesday that Paypal and Venmo have integrated the Ethereum Name Service (ENS) into their payment platforms. This integration allows users in the United States to send cryptocurrencies by entering ENS domain names, eliminating the need to copy and paste wallet addresses. ENS, established in 2017 with funding from Ethereum, has over 2 million on-chain registered domain names and more than 4 million off-chain registered domain names. Paypal and Venmo began supporting cryptocurrencies in 2021.#Paypal #Venmo #Ethereum #ENS #Crypto #Cryptocurrency #Blockchain
🚀 Ethernity Launches $10 Million Grant Program To Revolutionize Entertainment And Creator Economy
#Ethernity #GrantProgram #Entertainment #CreatorEconomy #Blockchain #Layer2 #DigitalEntertainment #Innovation #Gaming #DeFi #RealWorldAssets #Education #Infrastructure #ERN
According to Odaily, Ethernity, a Layer 2 blockchain solution focused on entertainment, has announced the launch of a $10 million grant program. This initiative aims to transform the entertainment and creator economy by developing Ethernity's Layer 2 ecosystem. The program is designed to support developers, founders, and startups in building digital entertainment services on the Ethernity Layer 2 platform.
The grant program will focus on several key areas, including gaming and entertainment products, blockchain infrastructure, entertainment infrastructure, DeFi tools, real-world assets (RWA), and education and promotion. By targeting these sectors, Ethernity seeks to foster innovation and growth within its ecosystem, providing the necessary resources and support for projects that align with its vision.
Ethernity's commitment to enhancing the entertainment and creator economy through blockchain technology underscores the potential of Layer 2 solutions in driving industry advancements. The $10 million grant program represents a significant investment in the future of digital entertainment, aiming to attract and nurture talent and ideas that will shape the next generation of blockchain-based entertainment services.#Ethernity #GrantProgram #Entertainment #CreatorEconomy #Blockchain #Layer2 #DigitalEntertainment #Innovation #Gaming #DeFi #RealWorldAssets #Education #Infrastructure #ERN
🚀 Solo Miner Wins $181,000 Bitcoin Block Reward
#Bitcoin #Mining #SoloMiner #BlockReward #Crypto #Blockchain #BitAxe #ASICS #Hashrate #FoundryUSA #Antpool #Cryptocurrency #Lottery #BTC
According to CoinDesk, a solo bitcoin miner successfully mined block 860749 on Tuesday, earning a reward of $181,000. This event is notable as bitcoin mining is typically dominated by larger mining pools, such as FoundryUSA and Antpool, which together represent more than 50% of the total hash rate. Bitcoin blocks are produced approximately every 30 minutes, and the reward for successfully mining a block currently stands at 3.125 bitcoin, following a recent halving event earlier this year.
Solo miners generally have limited computing power compared to large mining pools, although new solo mining rigs like BitAxe claim to offer 500 Giga Hashes per second (GH/s). Despite this, a solo miner winning a block is akin to winning a lottery, given the network's all-time high hashrate and difficulty, along with competition from institutional miners with immense computing power. Julio Moreno, head of research at CryptoQuant, explained that while it is not rare for a solo miner to find a block, it remains a low probability event. He noted that the production of small ASICs (mining equipment) has increased, allowing more individuals to mine from home.
Despite the occasional success of solo miners, the mining pool space remains highly concentrated. FoundryUSA and Antpool alone account for 53% of the total Bitcoin network hashrate. According to Hashrate Index, FoundryUSA has a reported hash rate of 202.8 exahashes per second (EH/s), while Antpool has a hash rate of 160.3 EH/s. An exahash is a metric that is one billion times greater than a gigahash.#Bitcoin #Mining #SoloMiner #BlockReward #Crypto #Blockchain #BitAxe #ASICS #Hashrate #FoundryUSA #Antpool #Cryptocurrency #Lottery #BTC
🚀 US 10-Year Treasury Yield Falls to Lowest Level Since June 2023
#USTreasury #TreasuryYield #Finance #Economy #InterestRates
According to BlockBeats, on September 11, the yield on the U.S. 10-year Treasury note dropped to 3.65%, marking its lowest level since June 2023.#USTreasury #TreasuryYield #Finance #Economy #InterestRates
🚀 BitGo Expands Wrapped Bitcoin To BNB Chain And Avalanche
#BitGo #WrappedBitcoin #WBTC #BNBChain #Avalanche #LayerZero #DeFi #Cryptocurrency #Security #Blockchain
According to Blockworks, BitGo is expanding its tokenized wrapped bitcoin (WBTC) product to BNB Chain and Avalanche, with LayerZero as its official interoperability provider. This move allows WBTC, a widely used collateral in decentralized finance (DeFi), to be natively minted on these chains without additional bridging risks for users transferring WBTC collateral from Ethereum. The expansion is facilitated by LayerZero’s Omnichain Fungible Token (OFT) standard, which is currently utilized by over 100 protocols, including Ethena, Ether.fi, and Swell.
LayerZero’s OFT standard enables the transfer of WBTC between BitGo-approved chains at a low cost, using an omnichain message. This standard acts as a global accounting method that reduces the risks of double-spending or hacks associated with third-party bridges. BitGo’s security configuration for transferring WBTC involves a 1-of-2-of-3 decentralized verifier network (DVN) that includes LayerZero Labs, Polyhedra, and BitGo itself. This should not be confused with BitGo’s 2-of-3 multi-signature security model required for minting or burning WBTC.
Bryan Pellegrino, co-founder and CEO of LayerZero Labs, highlighted the significance of this development, stating that WBTC is one of the largest assets in DeFi and BitGo is a trusted custodian in the crypto space. He emphasized the importance of teams owning their security and the innovative potential of LayerZero’s technology. Since its inception in 2021, LayerZero has facilitated 135 million omni messages and $50 billion in value across various chains.
BitGo’s WBTC remains the most successful tokenized bitcoin collateral, with 152,950 WBTC ($8.7 billion) issued on Ethereum alone. However, the WBTC issuer faced controversy last month following a change in corporate ownership involving TRON founder Justin Sun. This led Sky Protocol (formerly Maker) to seek delisting WBTC collateralization from its DAI stablecoin, while Aave is adopting a cautious approach, according to Aave-Chan Initiative founder Marc Zeller.#BitGo #WrappedBitcoin #WBTC #BNBChain #Avalanche #LayerZero #DeFi #Cryptocurrency #Security #Blockchain
🚀 Telegram Wallet Bot Launches $140,000 DOGS Token Incentive Program
#Telegram #WalletBot #DOGSToken #IncentiveProgram #Cryptocurrency #Blockchain
According to Odaily, Telegram Wallet bot has introduced an incentive program offering a total of $140,000 in DOGS tokens. Users can participate by completing specific tasks designated by the Telegram Wallet. The deadline for participation is September 15.#Telegram #WalletBot #DOGSToken #IncentiveProgram #Cryptocurrency #Blockchain
🚀 Federal Reserve Conducts Reverse Repo Operation Totaling $281.392 Billion
#FederalReserve #ReverseRepo #MonetaryPolicy #MarketLiquidity #InterestRates #EconomicStability #Inflation
According to Odaily, the Federal Reserve has conducted a reverse repurchase (repo) operation involving 60 counterparties, totaling $281.392 billion. Reverse repo operations involve the Fed selling securities to financial institutions such as commercial banks and money market funds, with an agreement to repurchase them at a later date for a predetermined price. This mechanism is typically used to manage the money supply and market interest rates, aiming to achieve specific macroeconomic objectives.
In periods of economic overheating or rising inflationary pressures, the Federal Reserve may utilize reverse repo operations to reduce market liquidity, thereby effectively controlling short-term interest rates. This strategic move helps in maintaining economic stability by ensuring that the supply of money in the market aligns with the central bank's monetary policy goals.#FederalReserve #ReverseRepo #MonetaryPolicy #MarketLiquidity #InterestRates #EconomicStability #Inflation
🚀 BNB Surpasses 520 USDT with a 0.66% Increase in 24 Hours
#BNB #USDT #cryptocurrency #Binance #marketdata #priceincrease #trading
On Sep 10, 2024, 18:10 PM(UTC). According to Binance Market Data, BNB has crossed the 520 USDT benchmark and is now trading at 520 USDT, with a narrowed 0.66% increase in 24 hours.#BNB #USDT #cryptocurrency #Binance #marketdata #priceincrease #trading
🚀 Debate Over Solana's Tokenomics Amid Market Stagnation
#Solana #Tokenomics #Inflation #Cryptocurrency #Blockchain #Validators #Staking #CryptoMarket #SOL #Ethereum #Decentralization #BreakpointConference #ValueTransfer
According to Blockworks, with the crypto markets in a holding pattern and many Solana projects delaying major announcements until the Breakpoint Conference, discussions have emerged regarding Solana's tokenomic structure. The primary concern revolves around the inflation rate of SOL tokens, which some argue is growing too quickly. Opinions are divided on whether this is a significant issue that Solana should address or if it is a non-issue.
Inflation on the Solana network refers to the creation of new SOL tokens, which are distributed as rewards to validators and stakers. This process incentivizes validators to secure and maintain the blockchain, ensuring network security and decentralization. Initially, Solana's inflation rate was set at 8% per year, with a planned annual decrease of 15%. Currently, the inflation rate is around 5% and is expected to decline to 1.5% in the long term. This 5% inflation rate is often compared to Ethereum's current inflation rate of approximately 0.7%, leading some to be more bullish on Ethereum.
The inflation of SOL tokens exerts downward pressure on their price due to the dilution of the existing supply. Some argue that inflation results in a value transfer from non-stakers to stakers, as inflation rewards are eventually paid out to stakers. In a recent Lightspeed podcast episode, Blockworks Research analyst Dan Smith predicted economic changes for Solana in 2025, suggesting that the current level of token emission might not be necessary.
Nate, an anonymous figure involved with the Aurora validator, believes the current inflation level leads to significant value extraction and suggests that cutting validator rewards in half could be feasible. However, altering the inflation rate and the rewards for validators would require substantial coalition building within Solana's large network of stakeholders. Switchboard co-founder Chris Hermida mentioned that while proposals to lower inflation might arise, there does not seem to be a significant outcry against the current rate, which is relatively similar to other large networks.#Solana #Tokenomics #Inflation #Cryptocurrency #Blockchain #Validators #Staking #CryptoMarket #SOL #Ethereum #Decentralization #BreakpointConference #ValueTransfer
🚀 Bitcoin(BTC) Surpasses 58,000 USDT with a 1.58% Increase in 24 Hours
#Bitcoin #BTC #USDT #cryptocurrency #marketdata #trading #increase
On Sep 10, 2024, 19:58 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 58,000 USDT benchmark and is now trading at 58,000 USDT, with a narrowed 1.58% increase in 24 hours.#Bitcoin #BTC #USDT #cryptocurrency #marketdata #trading #increase
🚀 Nigeria SEC Plans Enforcement Actions Against Unregulated Crypto Firms
#Nigeria #SEC #Cryptocurrency #EnforcementActions #Regulation #FinancialSecurity #UnregulatedFirms
According to BlockBeats, the Nigerian Securities and Exchange Commission (SEC) is preparing to take enforcement actions against unregulated cryptocurrency companies. This move aims to send a clear message to firms operating without proper authorization that they will not be permitted to target Nigerian citizens, stated Emomotimi Agama, the Director-General of the SEC, in a statement released on Sunday.
Agama emphasized that the SEC is committed to ensuring that companies wishing to operate in the Nigerian market must comply with regulatory requirements. He stated, 'We will certainly take enforcement actions against those who intend to operate in this market without the intention of being regulated.' This initiative underscores the SEC's dedication to maintaining a regulated and secure financial environment for its citizens.#Nigeria #SEC #Cryptocurrency #EnforcementActions #Regulation #FinancialSecurity #UnregulatedFirms
🚀 Traders Bet On Major Fed Rate Cut Before January Policy Decision
#Traders #FED #RateCut #InterestRates #MonetaryPolicy #EconomicConditions #USPolitics #SOFR #SwapsMarket
According to Odaily, traders in the U.S. interest rate options market are still betting on at least one significant rate cut by the Federal Reserve this year. However, it is unlikely to occur before the U.S. presidential election on November 5. Recent options activity related to the Secured Overnight Financing Rate (SOFR) indicates that traders are increasingly positioning for a rate cut of approximately 150 basis points before the Fed's policy decision on January 29. This aligns with the current situation in the swaps market.
To achieve this without an inter-meeting rate cut, policymakers would need to implement at least a half-percentage point reduction in two of the four meetings before January. This expectation reflects the market's anticipation of significant monetary policy adjustments in response to economic conditions.#Traders #FED #RateCut #InterestRates #MonetaryPolicy #EconomicConditions #USPolitics #SOFR #SwapsMarket
🚀 Sony To Launch Yen Stablecoin In Collaboration With Sony Bank
#Sony #YenStablecoin #Soneium #SonyBank #Blockchain #DigitalCurrency #FinancialTransactions #Layer2 #Cryptocurrency #Fintech
According to Odaily, BSCN Headlines announced on the X platform that Sony's Layer2 network, Soneium, will collaborate with Sony Bank to introduce a yen stablecoin.
This partnership aims to leverage the capabilities of Soneium's Layer2 technology to provide a stable and efficient digital currency solution. The yen stablecoin is expected to enhance financial transactions by offering a reliable and secure digital alternative to traditional currency.
The collaboration between Sony and Sony Bank signifies a significant step towards integrating blockchain technology with mainstream financial services. By launching a yen stablecoin, the companies aim to facilitate smoother and more transparent transactions, potentially revolutionizing the way digital currencies are used in everyday financial activities.#Sony #YenStablecoin #Soneium #SonyBank #Blockchain #DigitalCurrency #FinancialTransactions #Layer2 #Cryptocurrency #Fintech