🚀 Ethereum(ETH) Surpasses 2,400 USDT with a Narrowed 3.33% Decrease in 24 Hours
#Ethereum #ETH #USDT #cryptocurrency #Binance #marketdata #trading
On Oct 03, 2024, 04:45 AM(UTC). According to Binance Market Data, Ethereum has crossed the 2,400 USDT benchmark and is now trading at 2,400 USDT, with a narrowed narrowed 3.33% decrease in 24 hours.#Ethereum #ETH #USDT #cryptocurrency #Binance #marketdata #trading
🚀 Federal Reserve Rate Cut Probabilities for November
#FederalReserve #RateCut #InterestRates #CME #FedWatch #EconomicForecast
According to Odaily, the CME 'FedWatch' tool indicates a 62.8% probability that the Federal Reserve will cut interest rates by 25 basis points in November. Additionally, there is a 37.2% chance of a 50 basis point rate cut.#FederalReserve #RateCut #InterestRates #CME #FedWatch #EconomicForecast
🚀 Bitcoin Network Transaction Fees Decrease
#Bitcoin #TransactionFees #Blockchain #Cryptocurrency #Mempool
According to BlockBeats, on October 3, data from mempool.space indicates that Bitcoin network transaction fees have decreased. The current high-priority fee is reported at 2 Sat/byte.#Bitcoin #TransactionFees #Blockchain #Cryptocurrency #Mempool
🚀 Uruguay Enacts Cryptocurrency Law After Two Years Of Deliberation
#Uruguay #CryptocurrencyLaw #VirtualAssets #CentralBank #Regulation #VASPs #AntiMoneyLaundering #CounterTerrorismFinancing #DecentralizedSecurities #DistributedLedgerTechnology
According to PANews, Uruguay has officially enacted a cryptocurrency law after more than two years of discussions. The law, initially proposed two years ago, recognizes cryptocurrencies as virtual assets in the country and designates the Central Bank of Uruguay as the regulator and overseer for companies seeking to provide cryptocurrency services. This move positions Uruguay among the leading Latin American countries that have integrated cryptocurrencies into their regulatory frameworks.
The Central Bank of Uruguay will oversee virtual asset service providers (VASPs) and is responsible for issuing operational licenses to such organizations. The issuance of these licenses will take into account factors such as legality, opportunity, and convenience. Additionally, the Financial Services Supervision (SSF) must identify exchanges, wallets, and even miners that fall under the VASP category.
The new law also amends existing anti-money laundering and counter-terrorism financing regulations to include virtual assets under the control and supervision of current enforcement agencies. Furthermore, it reforms securities law by introducing the concept of decentralized securities, which are issued, stored, transferred, and traded electronically through distributed ledger technology.#Uruguay #CryptocurrencyLaw #VirtualAssets #CentralBank #Regulation #VASPs #AntiMoneyLaundering #CounterTerrorismFinancing #DecentralizedSecurities #DistributedLedgerTechnology
🚀 Andre Cronje Criticizes Project for Misusing Open Source Code
#AndreCronje #Fantom #SonicLabs #OpenSource #GPL3 #BUSL #ProjectCriticism #Blockchain #Web3 #Crypto #FTM
According to BlockBeats, on October 3, Andre Cronje, Director of the Fantom Foundation and current Chief Technology Officer of Sonic Labs (formerly Fantom), expressed his concerns on social media about a project with a Total Value Locked (TVL) of $1 billion and a Fully Diluted Valuation (FDV) of $1 billion. Cronje noted that the project had evidently used his open-source code, which is licensed under GPL3, and had obtained a Business Source License (BUSL).
Cronje stated that he could accept not being acknowledged, allowing the project to remove his name from the code, and even not mentioning him or the original project on their website or documentation. He also mentioned that he could tolerate the project renaming certain concepts to avoid any association. However, he criticized the project for taking something from open source and making it restrictive, while profiting significantly from it. Cronje remarked that the changes in this field are much larger than he had anticipated.#AndreCronje #Fantom #SonicLabs #OpenSource #GPL3 #BUSL #ProjectCriticism #Blockchain #Web3 #Crypto #FTM
🚀 Fractal Mining Power Drops Below 7EH/s As FB Price Declines
#FractalMining #EthereumHashrate #FBPriceDrop #CryptocurrencyNews #MiningPower
According to Odaily, data from the official Fractal browser indicates that Fractal's permissionless mining power has fallen below 7EH/s, currently standing at 6.898 EH/s. Concurrently, CoinGecko data reveals that the price of FB has dropped below $7, experiencing a 12% decline over the past 24 hours, now trading at $6.83.#FractalMining #EthereumHashrate #FBPriceDrop #CryptocurrencyNews #MiningPower
🚀 Metaplanet Engages In Bitcoin Options Trade With QCP Capital
#Metaplanet #Bitcoin #OptionsTrade #QCPCapital #DigitalAssets #FinancialStrategy #PutOptions #BitcoinReserves #Profitability #Cryptocurrency #BTC
According to BlockBeats, on October 3, Japanese publicly listed company Metaplanet announced via social media that it has entered into a Bitcoin options trade with Singapore-based digital asset trading firm QCP Capital. The transaction involves the sale of Bitcoin put options, specifically 233 contracts of Bitcoin put options expiring on December 27, with a strike price of $62,000. This trade has earned Metaplanet a premium income of 23.97 BTC.
Metaplanet stated that this strategy not only enhances the company's Bitcoin reserves but also strengthens its balance sheet. This aligns with its ongoing financial strategy to increase long-term Bitcoin exposure, improve the company's financial health, and support its profitability goals. The margin funds from this transaction are planned to be used for purchasing Bitcoin. Selling put options, referred to as a 'target purchase,' is another method to acquire Bitcoin. The plan for the use of these funds remains unchanged.#Metaplanet #Bitcoin #OptionsTrade #QCPCapital #DigitalAssets #FinancialStrategy #PutOptions #BitcoinReserves #Profitability #Cryptocurrency #BTC
🚀 BTC And ETH Options Open Interest Values Revealed
#BTC #ETH #Options #OpenInterest #ForesightNews #Coinglass
According to Foresight News, Coinglass data indicates that the nominal value of open interest for BTC options across the network today stands at $19.097 billion. Meanwhile, the nominal value of open interest for ETH options is reported to be $4.733 billion.#BTC #ETH #Options #OpenInterest #ForesightNews #Coinglass
🚀 Raydium Introduces Teleport For Seamless Token Transfers Between EVM Networks And Solana
#Raydium #Teleport #TokenTransfers #EVM #Solana #CircleCCTP #WormholeConnect #USDC #CrossChainSwaps #Blockchain
According to Odaily, Raydium has announced the launch of Teleport on the X platform, enabling frictionless token transfers from EVM networks to Solana. Raydium Teleport integrates Circle CCTP and Wormhole Connect to facilitate seamless USDC flow through CCTP's native mint and burn mechanism. The platform also revealed plans to enhance Teleport with one-click cross-chain swaps soon. This enhancement will allow for native asset cross-chain swaps using USDC and CCTP as the settlement channel, with cross-chain swap delays of less than 30 seconds.#Raydium #Teleport #TokenTransfers #EVM #Solana #CircleCCTP #WormholeConnect #USDC #CrossChainSwaps #Blockchain
🚀 BNB Drops Below 540 USDT with a 3.04% Decrease in 24 Hours
#BNB #USDT #Cryptocurrency #MarketData #PriceDrop #Binance #Trading
On Oct 03, 2024, 08:20 AM(UTC). According to Binance Market Data, BNB has dropped below 540 USDT and is now trading at 539.599976 USDT, with a narrowed 3.04% decrease in 24 hours.#BNB #USDT #Cryptocurrency #MarketData #PriceDrop #Binance #Trading
🚀 Researcher Warns Of Malicious Browser Extension Targeting Developers
#MaliciousBrowserExtension #CyberSecurity #SupplyChainAttack #SolidityDevelopers #Phishing #BrowserSecurity #CryptocurrencySecurity #SoftwareDevelopment #DeveloperSafety #VirtualMachines
According to PANews, a cryptocurrency researcher known as @LehmannLorenz on the X platform reported a near-miss incident where his computer was almost compromised by a malicious browser extension. The extension, developed by an unverified source, amassed 1.7 million downloads and a perfect 5/5 star rating within just one day of its release. Upon downloading and examining the extension, everything appeared normal except for an obfuscated 'extension.js' file that ran during installation. Log files indicated that the script eventually encountered an error, relying on PowerShell execution to operate entirely in memory, leaving no traces on the disk.
In response, SlowMist's Yu Jian stated that this incident represents a supply chain phishing attack targeting Solidity smart contract developers. He emphasized that the editor environment is a high-risk area for supply chain attacks. To mitigate risks, he advised isolating usage as much as possible, avoiding unnecessary installations, and adhering to the principle of 'just enough is enough.' He also recommended using separate computers or virtual machines for more complex tasks to ensure security.#MaliciousBrowserExtension #CyberSecurity #SupplyChainAttack #SolidityDevelopers #Phishing #BrowserSecurity #CryptocurrencySecurity #SoftwareDevelopment #DeveloperSafety #VirtualMachines
🚀 Vitalik Buterin Suggests Lowering Ethereum Staking Minimum
#VitalikButerin #Ethereum #Staking #ETH #Blockchain #Cryptocurrency #DeFi #PeerdasUpgrade #OrbitSSF
According to Odaily, Ethereum co-founder Vitalik Buterin recently proposed on social media that developers should consider the possibility that the current 32 ETH staking requirement is a higher barrier for stakers than bandwidth requirements. He suggested that slightly increasing the bandwidth requirement in exchange for lowering the minimum staking deposit to 16 or 24 ETH could benefit both staking accessibility and scale. Buterin further mentioned that once Ethereum completes the peerdas upgrade, bandwidth requirements would decrease, and with the completion of orbit SSF, the minimum deposit could be reduced to as low as 1 ETH.#VitalikButerin #Ethereum #Staking #ETH #Blockchain #Cryptocurrency #DeFi #PeerdasUpgrade #OrbitSSF
🚀 Goofy Surges Over 50% In 24 Hours
#Goofy #cryptocurrency #meme #Solana #increase
According to Odaily, data from Ave indicates that the cryptocurrency Goofy has experienced a significant increase of over 50% in the past 24 hours, currently trading at $0.0051. Goofy is an animal-themed meme coin issued on the Solana blockchain.#Goofy #cryptocurrency #meme #Solana #increase
🚀 Australian Police Seize $6.4 Million in Cryptocurrency from Ghost Network
#AustralianPolice #Cryptocurrency #GhostNetwork #OrganizedCrime #AFPSecurity #LawEnforcement
According to Odaily, Australian police have confiscated $6.4 million worth of cryptocurrency in a crackdown on the encrypted communication network known as Ghost. Authorities described the network as being specifically designed for organized crime groups. The seized cryptocurrency has been transferred to a secure storage managed by the Australian Federal Police (AFP), and efforts are underway to seek its permanent forfeiture.#AustralianPolice #Cryptocurrency #GhostNetwork #OrganizedCrime #AFPSecurity #LawEnforcement
🚀 Bitfarms Reports September Bitcoin Mining Output And Financial Updates
#Bitfarms #Bitcoin #Mining #BTC #FinancialUpdates #RiotPlatforms #ProductionReport #Revenue #Efficiency
According to Odaily, Bitcoin mining company Bitfarms has released its monthly production report, revealing that the company has achieved its year-end efficiency target of 21 w/TH over the past three months. In September, Bitfarms mined 217 BTC, a decrease from the 233 BTC mined in August. Additionally, Bitfarms disclosed that it sold 173 BTC in September as part of its regular funding operations, generating total revenue of $10.5 million. The company also announced that it reached a settlement agreement with Riot Platforms Inc. and rescheduled its special shareholder meeting from November 6, 2024, to November 20, 2024.#Bitfarms #Bitcoin #Mining #BTC #FinancialUpdates #RiotPlatforms #ProductionReport #Revenue #Efficiency
🚀 Bitcoin Maintains Bullish Market Structure Amid $60,000 Retest
#Bitcoin #BTC #Bullish #MarketStructure #SupportLevel #FearSentiment #PriceAction #Trading #Investment #BuyTheDip
According to Cointelegraph, Bitcoin (BTC) continues to exhibit a bullish market structure despite a recent retest of the $60,000 support level. Popular trader and analyst Rekt Capital has dismissed the fearful market sentiment surrounding the current BTC price action, emphasizing that Bitcoin's return to the $60,000 level is not a cause for concern.
BTC/USD has experienced a 6% drop over the past three days, following a recent peak above $66,000. Rekt Capital noted that Bitcoin has revisited the low $60,000s multiple times in recent months, and each pullback has been met with different narratives of fear. He maintains that the bullish market structure remains intact.
Fellow trader Jelle shares this optimistic outlook, suggesting that Bitcoin is undergoing a significant resistance/support flip. He reassured his followers that despite the initial red start to the quarter, Bitcoin's market structure is bullish, and key support levels are being reinforced.
Previously, Cointelegraph reported on bearish BTC price predictions, with some analysts forecasting a potential drop below $60,000. Entrepreneur Mark Cullen advised traders to prepare for a possible dip to around $57,000, indicating that Bitcoin might still be heading lower.
Onchain data analysis by Checkmate, the pseudonymous creator of Checkonchain, provides further insights. Using the short-term holder spent output profit ratio (STH-SOPR) metric, Checkmate observed that recent price performance reflects profit-taking by Bitcoin speculators. The STH-SOPR metric, which measures the proportion of funds in profit when moved onchain, has dipped below its center value of 1.0, suggesting a potential 'buy the dip' opportunity.
Checkmate explained that a high STH-SOPR indicates profit-taking and selling pressure, while dips back to 1.0 or brief undercuts in a bull market present opportunities to accumulate Bitcoin at lower prices.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.#Bitcoin #BTC #Bullish #MarketStructure #SupportLevel #FearSentiment #PriceAction #Trading #Investment #BuyTheDip
🚀 Cryptocurrency Market Faces Sharp Downturn As AI And Big Data Tokens Plummet
#Cryptocurrency #MarketDownturn #AI #BigData #Tokens #MarketCap #Octobear #NEAR #BIT #TAO #ICP #RNDR #FET #Bitcoin #GeopoliticalFactors #MarketTrends
According to Cointelegraph, the cryptocurrency market has experienced a significant decline, with artificial intelligence and big data-related tokens losing $4.69 billion in market capitalization over three days. The market, which was valued at $38.82 billion on September 30, fell to $34.13 billion by October 3, casting doubt on the anticipated 'UPtober' trend where investors had hoped for a market recovery.
Despite October's historical reputation as a favorable month for traders, this year appears to be shaping up as 'Octo-bear' rather than 'UPtober.' Among the leading AI and big data tokens, Near Protocol (NEAR) has seen the steepest decline, dropping 14.88% over the past seven days. As of the time of writing, NEAR is priced at $4.61. Other top-performing tokens, such as Bitensor (TAO) and Internet Computer (ICP), also experienced significant price declines, losing 9.37% and 13.35%, respectively, over the same period. This downward trend has impacted the broader AI and big data market, with tokens like Render (RNDR) down 13.64% and Artificial Superintelligence Alliance (FET) down 16.68%.
Historically, October has been a period of strong gains and market stability, with many expecting Bitcoin (BTC) and altcoins to see upward momentum throughout the month. However, 2024 has defied that trend, with nearly $5 billion wiped from the AI and big data token market cap just three days into October. The broader crypto market has also seen a downward trend, influenced by geopolitical factors such as the ongoing conflict in the Middle East, regulatory challenges, and macroeconomic concerns.
Despite the recent downturn, AI tokens are still performing significantly better than in July, when the total market cap was around $20 billion. Considering the shift in pace from three months ago, the AI and big data token market is up over $13 billion, essentially trivializing the recent loss in market cap in October. While the long-term trend for BTC in the fourth quarter and early 2025 seems positive, recent signs indicate there could be some short-term volatility in October.#Cryptocurrency #MarketDownturn #AI #BigData #Tokens #MarketCap #Octobear #NEAR #BIT #TAO #ICP #RNDR #FET #Bitcoin #GeopoliticalFactors #MarketTrends
🚀 Fed Chair Powell Signals No Rush to Cut Rates Amid Upcoming Job Reports
#FedChair #JeromePowell #InterestRates #JobReports #Employment #RateCuts #LaborMarket #Economy #Unemployment #JobGrowth #FederalReserve
According to Odaily, Federal Reserve Chair Jerome Powell has indicated that the Fed is not in a hurry to lower interest rates and prefers a gradual approach to rate cuts. However, this patience will be tested with a series of highly anticipated employment reports set to be released starting this Friday. If there are any new signs of deterioration in the job market, the Fed may be compelled to make a significant rate cut of 0.5 percentage points initially, followed by another substantial cut, even though policymakers currently expect to reduce rates by 25 basis points in both November and December.
The latest employment market data, expected to be released on Friday, is anticipated to reinforce a trend of moderate cooling. Economists predict that 146,000 jobs were created last month, with the unemployment rate remaining steady at 4.2%. This report is largely in line with the creation of 142,000 jobs in August.#FedChair #JeromePowell #InterestRates #JobReports #Employment #RateCuts #LaborMarket #Economy #Unemployment #JobGrowth #FederalReserve
🚀 Fed Faces Potential Challenges Ahead Of November Meeting
#FederalReserve #InterestRates #EmploymentReport #WageGrowth #UnemploymentRate #Economy #EconomicResearch #MarketAnalysis #RateCuts #NovemberMeeting
According to PANews, the Federal Reserve may encounter additional complexities in the October employment report, which is expected to be released before the upcoming meeting on November 6-7. Lydia Boussour, a senior economist at EY, stated that any significant slowdown in wage growth and a substantial rise in the unemployment rate could lead data-dependent Fed policymakers to consider another 50 basis point rate cut. However, Neil Dutta, head of economic research at Renaissance Macro Research, anticipates two significant 50 basis point rate cuts in November and December due to complications arising from strikes and hurricane damage.#FederalReserve #InterestRates #EmploymentReport #WageGrowth #UnemploymentRate #Economy #EconomicResearch #MarketAnalysis #RateCuts #NovemberMeeting
🚀 Mysterious Whale '7 Siblings' Reenters Market with Significant ETH Purchase
#Whale #7Siblings #Cryptocurrency #ETH #Ethereum #Investment #MarketFluctuations #USDC
According to Odaily, the enigmatic whale known as '7 Siblings,' which holds assets worth $2.2 billion, has made a notable reentry into the cryptocurrency market. During the recent downturn, the whale acquired 28,120 ETH, valued at $66 million, at an average price of $2,350 per ETH. This significant purchase highlights the whale's strategic investment moves amid market fluctuations.
Furthermore, it is noteworthy that on August 5, during a market crash, '7 Siblings' spent 129.3 million USDC to buy 56,093 ETH at an average price of $2,305 per ETH. This substantial acquisition underscores the whale's confidence in Ethereum's potential and its ability to capitalize on market dips.#Whale #7Siblings #Cryptocurrency #ETH #Ethereum #Investment #MarketFluctuations #USDC