Today's Crypto and Bitcoin News

Bitcoin is currently priced at $73, 901, showing a +6.55% increase, while Ethereum is at $2,589, up by +6.83% in the past 24 hours. The market's 24-hour long/short ratio in the futures market was almost balanced at 50.1% long versus 49.9% short positions. The Fear and Greed Index, which measures market sentiment, was at 70 yesterday and also stayed at the Greed level today at 70 today. As the U.S. presidential election outcome nears, the crypto world is experiencing a surge in activity. From political memecoins tied to election outcomes today to major fund inflows driven by political hype, the intersection of politics and cryptocurrency has created a whirlwind of speculation and opportunity.    What’s Trending in the Crypto Community?  The voting data from 7 swing states in the U.S. election will be announced by noon on November 6. Prediction market Kalshi tops the Apple App Store free apps chart, with Polymarket in second place. Polymarket is paying U.S. influencers to promote election betting services. Mt.Gox address transfers 2,000 BTC to an unknown wallet, worth $136 million. Crypto Fear & Greed Index | Source: Alternative.me    Trending Tokens of the Day  Top 24-Hour Performers  Trading Pair  24H Change GOAT/USDT +52.57% TAO/USDT +29.94% MOG/USDT +20.70%   Trade now on KuCoin   Read More: Crypto Market Braces for Election Volatility, November Token Unlocks, and Peanut Memecoins: Nov 4   The convergence of political betting, artificial intelligence hardware, and augmented reality highlights the transformative potential of technology and finance across industries. With nearly $4 billion bet on the U.S. presidential race, new ventures in AI-driven consumer robotics, and Apple’s anticipated entry into AR, this dynamic interplay between finance, tech, and influence is shaping the future.   The $4 Billion Election Day Betting Frenzy on PolyMarket Source: Polymarket   The 2024 U.S. presidential race has led to an unprecedented spike in prediction market activity, drawing in nearly $4 billion in political bets. At the forefront is Web3-native Polymarket, which dominates with around $3.3 billion in trade volumes, even though it faces restrictions in the U.S. Polymarket's appeal reflects a growing interest in decentralized platforms that allow users to wager on real-world events. Its success has set the standard for political betting, establishing itself as the go-to platform for decentralized, blockchain-driven predictions.   Following close behind are U.S.-based platforms like Kalshi, Robinhood, and Interactive Brokers, which collectively have attracted over $500 million in betting volumes. These platforms are gaining traction, especially after regulatory approval allowed them to host election betting for the first time. As betting odds on candidates fluctuate, Donald Trump holds a strong lead across prediction markets, with odds on Polymarket reaching nearly 82.5% and other platforms showing similar figures. This trend has captured the attention of a diverse range of investors who are eager to participate in high-stakes political events.   Rising Competition in Prediction Markets Source: Kalshi   Kalshi’s recent debut in election betting has sparked fierce competition among prediction platforms, paving the way for similar ventures in the U.S. market. Kalshi's approval to operate election markets came after a landmark court victory, allowing it to set a precedent for legally approved election betting in the U.S. This historic decision has encouraged other platforms to join, rapidly increasing competition and participation.   Robinhood entered the prediction space with a bang, launching election contracts in October and trading over 200 million contracts related to the presidential race. Interactive Brokers has also stepped in, attracting $50 million in volume. In a bid to streamline user experience, Kalshi introduced deposits in USD Coin (USDC) and even added USDC deposits from Polygon, which allows blockchain-based transfers, simplifying the process for crypto-savvy bettors. Together, these companies are challenging the decentralized giant Polymarket, fostering a competitive environment that may redefine how Americans approach political betting.   AI Hardware Expansion: OpenAI's Bold Move Source: X   In the realm of artificial intelligence, OpenAI’s creation of a consumer hardware division reflects its ambition to bring AI-driven products directly into consumers’ lives. This division, led by Caitlin Kalinowski—a former Meta engineer who played a key role in the development of AR hardware like the Orion glasses—signals OpenAI's shift from purely software-based AI models to tangible, AI-powered devices. Kalinowski’s background in AR, combined with her experience in large-scale hardware projects at Meta and Apple, uniquely positions her to drive OpenAI's hardware ambitions.   The move comes at a time when AI hardware is booming, driven by companies like Nvidia and TSMC. Although the industry has seen several attempts at integrating AI into consumer products, most, like Amazon’s smart speakers, have yet to achieve the mass market appeal of smartphones. OpenAI’s new approach may involve partnerships with major manufacturers rather than in-house production, allowing the company to focus on refining AI models while tapping into established supply chains. This strategy could fast-track AI hardware into the hands of everyday users and potentially create the long-awaited "iPhone moment" for AI-powered devices.   Memecoins and the Election: Crypto Enthusiasts Weigh In Election Day has also brought excitement to the cryptocurrency market, with memecoins inspired by candidates Donald Trump and Kamala Harris experiencing dramatic trading activity. As Trump embraces the label of “crypto candidate,” Trump-themed memecoins, such as MAGA and TRUMP, have attracted significant attention despite recent drops in market value. These tokens, designed with no official political affiliation, are a popular choice among traders looking to make speculative bets on the election outcome. Tokens like MAGA and Super Trump (STRUMP) command large market caps, though they have seen declines of up to 30% in recent weeks. Still, the high volatility surrounding these tokens provides ample opportunity for traders seeking quick profits.   Conversely, Harris-themed tokens, while fewer in number, are on the rise. The largest, “Kamala Horris” (KAMA), surged 40% over the past week, reflecting a counter-movement among traders aligning with her platform. The hype around these tokens is evident in the Ethereum and Solana blockchains, which have seen hundreds of new tokens referencing Trump and Harris. The crypto community’s interest in these political tokens underscores a cultural shift where digital assets are used not only as speculative instruments but as a form of political expression.   Read More: Top PolitiFi and Trump-Themed Coins Amid US Elections 2024   Apple’s Expansion into Augmented Reality Source: Apple    Apple’s potential entry into the augmented reality (AR) market could be a game-changer for the tech industry. Known for revolutionizing each category it enters, Apple’s foray into AR has the potential to shake up the market, directly challenging Meta's stronghold in the AR and Metaverse space. According to reports, Apple is working on smart glasses to rival Meta’s Orion, leveraging its reputation for user-friendly, high-quality design to attract consumers who may be hesitant about AR.   Apple’s focus on expanding its product line aligns with its broader strategy to push boundaries in wearable technology, which includes iPhones, Apple Watches, and AirPods. The development of an AR product would not only place Apple in direct competition with Meta but could also stimulate innovation across the industry. As the AR space becomes more crowded, Apple’s entry could provide the breakthrough needed to bring AR into the mainstream. If successful, Apple’s AR venture could significantly contribute to its growth trajectory, potentially setting another market cap milestone for the company.   Conclusion The surge in Election Day betting, the push for consumer-oriented AI hardware, and Apple’s bold AR ambitions highlight a rapidly changing landscape where politics, technology, and finance intertwine. Prediction markets reflect the public’s growing interest in speculative finance, while OpenAI’s hardware division and Apple’s AR aspirations showcase advancements that could redefine consumer technology. As these trends converge, the actions of major players like Polymarket, OpenAI, and Apple will shape how technology integrates into our daily lives, making the future of politics, AI, and AR both exciting and unpredictable. The race for dominance is on, and the leaders in these sectors are poised to drive the next wave of digital transformation.

BTC$97,800.00-1.06%

Bitcoin traders are gearing up for a volatile week as the U.S. presidential election draws near. On the CME, data shows a surge in demand for put options, signaling that investors are protecting themselves against potential price drops.   Quick Take Traders on the CME are hedging against potential Bitcoin price drops due to U.S. election volatility. A Trump victory could boost crypto markets, while a Harris win may dampen industry enthusiasm, according to reports on Cointelegraph. Bitcoin dominance surges to a new high of almost 60% before the US election outcome, overshadowing altcoins as traders prioritize BTC exposure. Bitcoin's implied volatility remains low, but experts anticipate post-election price swings. CME Data Reveals Downside Protection: Put Options Pricier Than Calls Bitcoin risk reversal | Source: CoinDesk    Put options on the CME have become pricier relative to calls, especially those expiring within a week. This trend reflects traders’ caution, as many prepare for sharp price movements once election results come in. The 25-delta risk reversal—a key metric comparing the implied volatility of puts and calls—has turned negative. This shift reveals a market preference for downside protection.   CF Benchmarks analysts noted, “Bitcoin options traders are clearly hedging against potential price swings due to the U.S. election.”   Deribit Options Market Aligns with Broader Sentiment On Deribit, the sentiment is mixed but leans bullish for the month ahead. Data from Amberdata shows a largely neutral bias for short-term options, but with an increasingly positive outlook for later expiries. The absence of a strong bearish tilt suggests that traders are largely “waiting and watching.”   In case you missed it, KuCoin has recently launched options trading on the mobile app for BTC and ETH. Learn more about how options trading on KuCoin works.    In addition, ETFs tied to Bitcoin and Ethereum remain popular trading assets, viewed by some as “call options” on the election's outcome. A favorable regulatory environment could propel these funds forward, signaling confidence in digital assets.   Can US Election Outcome Drive Bitcoin Price Action?  The market’s response hinges largely on the election’s outcome. Polls indicate a close race, with crypto-friendly candidate Donald Trump trailing narrowly. Analysts suggest that a Trump victory could ignite a crypto rally, while a Harris win might result in stricter regulations, slowing the sector’s momentum.   Matthew Sigel, Head of Digital Assets Research at VanEck, noted, “A year-end rally to $80,000 remains within sight if broader economic conditions align,” pointing to the November 29 options showing a call bias as a sign of longer-term market optimism.   Read more: Election Fever Fuels $2.2 Billion in Crypto Markets: Memecoin Indexes, PolitiFi MemeCoin Craze, and more: Nov 5   Bitcoin Dominance Climbs as Altcoins Falter Bitcoin dominance crosses 57% | Source: CoinStats   Bitcoin’s dominance has soared to a new cycle high, capturing over 57% of the crypto market. As traders focus on BTC, altcoins struggle to keep up, with several down by 10% or more from recent highs. Funding rates have stabilized, signaling limited speculative interest in altcoins.   Analysts from Bitfinex warn that without a new catalyst, altcoins may continue to lag. They commented, “The speculative interest that once fueled altcoins has shifted to Bitcoin.”   Election Week: “Calm Before the Storm” for Bitcoin With election day here, Bitcoin’s implied volatility remains unexpectedly low. Analysts at Bitfinex see this as a temporary lull, possibly preceding a sharp increase in volatility once results are finalized. This “calm before the storm” period may give way to significant price swings, especially if the election outcome surprises the market.   As the race concludes, traders should prepare for a high-stakes week where unexpected moves in Bitcoin’s price may create opportunities—or risks—for those unprepared.   Read more: Bitcoin Price Prediction Ahead of the 2024 US Election: Bullish or Bearish?

At 8:00 AM UTC+8, Bitcoin was priced at $67,857, showing a -1.33% decrease, while Ethereum stood at $2,398, down by -2.41%. The market's 24-hour long/short ratio in the futures market was almost balanced at 49.2% long versus 50.8% short positions. The Fear and Greed Index, which measures market sentiment, was at 70 yesterday and also stayed at the Greed level today at 70 today. As the U.S. presidential election nears, the crypto world is experiencing a surge in activity. From political memecoins tied to election outcomes to major fund inflows driven by political hype, the intersection of politics and cryptocurrency has created a whirlwind of speculation and opportunity.    What’s Trending in the Crypto Community?  The Ethereum whitepaper has been available for 11 years. Solana’s on-chain DEX has achieved a weekly trading volume of $12.7 billion, ranking first for four consecutive weeks. Bitcoin mining difficulty rose by 6.24% this morning, reaching a new high of 101.65 T. OpenSea's CEO announced the platform has been completely rebuilt and will relaunch in December. Trump's winning probability on Polymarket has increased to 59.1%. Crypto Fear & Greed Index | Source: Alternative.me    Trending Tokens of the Day  Top 24-Hour Performers  Trading Pair  24H Change DOGE/USDT +7.26% XMR/USDT +3.12% SHIB/USDT +2.64%   Trade now on KuCoin   Read More: Crypto Market Braces for Election Volatility, November Token Unlocks, and Peanut Memecoins: Nov 4   Hype Launches President Memecoin Index to Track Election Trends Hype, a new memecoin trading platform, launched the President Memecoin Index to help traders track and trade tokens tied to the upcoming U.S. election. Since the presidential debate in September, Trump-themed tokens have surged by 86.9%.   Hype operates on Solana and Base and offers traders a way to track the biggest memecoins linked to the U.S. election. These tokens include Doland Tremp (TREMP), MAGA token (TRUMP), Donald Trump (TRUMP), Kamala Horris (KAMA), Krazy Kamala (KAMALA), and KAMALA HARRIS (HARRIS). Though not officially affiliated, these tokens reflect interest around the candidates.   Ravi Bakhai, founder of Hype, explained that political memecoins often lack a single unifying token. For example, several tokens may be associated with a president, so the index helps capture broader interest around the trend. The index acts like betting platforms, offering insight into election sentiment by analyzing token performance.   Political memecoins belong to a new trend called PoliFi, which combines politics and decentralized finance. For example, MAGA Memecoin now has nearly 100,000 holders across Ethereum, Solana, and Base, showing its appeal beyond the typical memecoin audience.   Bakhai explained that people can buy a candidate’s token if they believe in their success. As attention grows for a candidate, their token's value rises, turning political interest into price gains.   The index data shows the Trump-themed tokens up by 86.9% since mid-September. Tokens linked to Kamala Harris have increased by 48.9%. The trends mirror what prediction platforms like Polymarket and Kalshi are showing. Trump led by a wide margin, but Harris has been closing the gap.   Source: Polymarket   Polymarket puts Trump's chances of winning at around 57%, down from over 66% at the end of October. Bakhai highlighted the difference between token trading and prediction markets: memecoins have no limit to their price upside. Token prices may keep climbing long after the election results come out.   Read More: Top PolitiFi and Trump-Themed Coins Amid US Elections 2024   Crypto Funds Surge to $2.2 Billion Amid Election Hype Flows by assets (in millions of US dollars). Source: CoinShares   Crypto investment products saw $2.2 billion in inflows from October 26 to November 2. Year-to-date (YTD) inflows reached a record $29.2 billion, as reported by CoinShares. The four weeks of consecutive inflows totaled over $5.7 billion, representing 19% of all YTD inflows.   The latest surge in crypto fund inflows pushed total assets under management to over $100 billion for only the second time in history. This matched levels previously seen in June, which stood at $102 billion.   James Butterfill, CoinShares' head of research, attributed the inflows to excitement around the U.S. presidential election. Butterfill noted that euphoria about a possible Republican victory drove early inflows, but the shifting polls led to some outflows at the end of the week. He emphasized that Bitcoin remains particularly sensitive to U.S. election news.   Last week, Bitcoin received most of the inflows, reaching $2.2 billion, as its price neared all-time highs. Investors also poured $8.9 million into short-Bitcoin products, positioning themselves to profit from potential price drops.   Read More: Bitcoin Prediction to $100K, GRASS Airdrop Sets Records, and Robinhood's Crypto Surge: Oct 31   Ethereum: The Next Amazon? Leena ElDeeb, a research analyst at 21Shares, compared Ethereum to Amazon in the 1990s. She said Wall Street investors still underestimate Ethereum’s potential. According to ElDeeb, big inflows will come once people recognize Ethereum's value.   Spot Ether exchange-traded funds (ETFs) launched in July but have seen modest inflows compared to Bitcoin ETFs. ElDeeb explained that, like Amazon, Ethereum started with a simple purpose—smart contracts—but it now supports over $140 billion in decentralized finance (DeFi) applications.   Federico Brokate, vice president at 21Shares, noted that Amazon started as a bookstore before transforming into a digital powerhouse. He believes Ethereum’s development follows a similar path, from supporting basic applications to becoming a major force in decentralized finance.   Source: X   PolitiFi: Trump Supporters Promote the MAGA Memecoin (TRUMP) ahead of the Election Source: X   As the U.S. election approaches, Trump supporters are rallying around a trending PolitiFi project called MAGA Memecoin (TRUMP). PolitiFi tokens blend politics, pop culture, and crypto. They create digital communities where supporters invest in a cause, a candidate, or a vision.   PolitiFi tokens like MAGA Memecoin aim to keep political discussions alive while encouraging engagement. MAGA Memecoin is a tribute to Donald Trump and his "Make America Great Again" (MAGA) movement.   The token’s creators said that Trump is "the most memetic human ever," and the memecoin captures this attention. MAGA Memecoin isn’t just about memes—it has a mission. The team distributed one million branded TRUMP napkins to bars and restaurants across the U.S. to spread awareness. Each napkin links to a platform where users can easily buy TRUMP using Apple Pay.   MAGA Memecoin has lasted beyond the usual lifespan of most memecoins. The team has also donated over $2 million to nonprofits supporting veterans and fighting child trafficking. This charity-driven approach gives MAGA Memecoin a real-world purpose.   Every week, MAGA supporters gather on platforms like X, featuring political guests like Roger Stone and Antonio Brown. The community also launched a video game called "Make Cats Safe Again," where a pixelated Trump must save cats to win the presidency. MAGA Memecoin now has nearly 100,000 holders across Ethereum, Solana, and Base, showing its appeal beyond the typical memecoin audience.   Source: X   Squirrel Memecoins Take Off with Peanut ($PNUT) on Pump.Fun Crypto traders are jumping on the Peanut the squirrel trend. Peanut’s story went viral, inspiring memecoins on the Solana-based Pump.fun platform.   Two of the biggest squirrel tokens—PNUT and Nut In Profit (NIP)—now have over $37 million riding on them. Nut In Profit launched just six hours before the story broke. Pump.fun allows anyone to launch a token using a bonding curve mechanism that raises prices as demand increases. Once a token hits $69,000 in market cap, it automatically migrates to Solana’s decentralized exchange, Raydium.   Elon Musk, also posted about Peanut on X, adding to the hype. Musk is known for boosting memecoin popularity, especially with Dogecoin.   Conclusion The upcoming U.S. election has sparked a wave of hype, speculation, and creative projects in the crypto space. From Hype's President Memecoin Index, which tracks political tokens, to PolitiFi projects like the MAGA Memecoin and even squirrel-themed tokens inspired by Peanut, investors are using memecoins to speculate on political outcomes and leverage cultural moments to create digital assets. As election day approaches, crypto traders should be prepared for increased volatility and new opportunities. Read more: Bitcoin Price Prediction Ahead of the 2024 US Election: Bullish or Bearish?

As the US presidential election draws near, Bitcoin (BTC) is showing significant price volatility. With the odds narrowing between the candidates, Bitcoin’s recent price action reflects both political and economic jitters among investors. This analysis explores how the election’s outcome could impact BTC’s trajectory, with expert insights suggesting a mix of possible highs and potential pullbacks.   Quick Take  Bitcoin’s price has experienced sharp swings, dipping below $69,000 and triggering nearly $350 million in liquidations ahead of the US election. A Trump win is seen as potentially bullish for Bitcoin, with projections of BTC reaching $100,000 or more due to his pro-crypto stance. In contrast, a Harris victory could introduce more regulation, potentially tempering Bitcoin's upward momentum. Amid economic concerns, Bitcoin remains attractive as a hedge against inflation and market instability, drawing interest from both retail and institutional investors. Recent SEC approvals of Bitcoin ETFs have boosted BTC’s stability and liquidity, with increasing institutional investments contributing to long-term growth potential. Key support around $66,200 and resistance at $73,800 are critical levels; breaking either could signal significant price movement as election day approaches. Bitcoin’s Pre-Election Price Swings: $73,000 to Under $69,000 BTC/USDT price chart | Source: KuCoin   Over the past week, Bitcoin’s price has fluctuated considerably, nearing an all-time high before pulling back sharply. After a surge to almost $73,300, Bitcoin fell below $69,000 on November 3, triggering nearly $350 million in liquidations across both long and short positions, according to data from CoinGlass. As of now, BTC remains under this key level, trading around $68,500, but market conditions remain tense as election day approaches.   Political Influence on BTC Sentiment: Trump vs. Harris Bitcoin price prediction for November on Polymarket | Source: Polymarket    The Bitcoin market has been closely watching the election polls, particularly on Polymarket, where Trump initially held a lead but recently saw his odds dip from 67% to 56%. Trump’s pro-crypto stance includes pledges to reshape the regulatory environment by removing obstacles, which many believe could open doors for Bitcoin adoption and support a BTC price rally if he wins. In contrast, Harris has taken a more cautious approach, advocating for a framework focused on consumer protection and market transparency. This regulatory stance could temper Bitcoin’s upward momentum if she wins, as the market may brace for tighter oversight.   Read more: Top PolitiFi and Trump-Themed Coins Amid US Elections 2024   Potential Market Scenarios Trump vs. Kamala: who’s the next US President | Source: Polymarket    Trump Win: Market sentiment suggests Bitcoin could rally to $100,000 or beyond if Trump secures the presidency. His promise to make the US a “crypto capital” resonates with pro-crypto investors, who see his leadership as an opportunity to remove perceived regulatory hurdles. Harris Win: Analysts predict a more restrained Bitcoin response if Harris prevails. With a focus on consumer protection, her administration may prioritize regulatory clarity without the deregulatory zeal Trump has proposed. However, this approach could also support sustainable growth in the long term by establishing clearer rules for institutional involvement. Bitcoin Set for a $6,000–$8,000 Seesaw as US Election Nears: Analyst Insights According to Greg Magadini from Amberdata, BTC could experience a $6,000–$8,000 price swing post-election. The annualized forward volatility derived from options trading on platforms suggests a range of potential price movements, with a 1.5-sigma (standard deviation) scenario likely to drive BTC’s price by as much as $8,000. This projection is influenced by the tight race between Trump and Harris, which heightens market uncertainty.   Magadini noted that options traders are preparing for possible price swings by buying call options at strikes of $70,000, $85,000, and $90,000, indicating bullish expectations. This trend is mirrored in the CME options market, where calls are pricing higher than puts, reflecting optimistic sentiment despite current spot price weakness.   Joshua Lim, co-founder of Arbelos Markets, added that Bitcoin’s volatility curve points to an expected 7%-8% price movement around critical events, including the Fed’s interest rate decision and election results. These figures suggest heightened activity as investors gear up for post-election shifts.   Read more: Top Hedging Strategies to Protect Your Portfolio in the Crypto Market in 2024-2025   Bitcoin Technical Analysis: Key Levels to Watch for BTC Source: Henrik Zeberg on X    Bitcoin’s recent price action highlights critical support and resistance levels, with $66,200 identified by analysts as a local bottom. If BTC dips below this level, it may experience further downward pressure. On the upside, breaking resistance near $73,800 could indicate renewed bullish momentum. Technical indicators such as the Ichimoku cloud and Fibonacci retracement suggest that Bitcoin is at a pivotal juncture, with the potential for significant movement as election day approaches.   Support Levels: The area around $66,200 has been identified as a “must-bounce zone” for Bitcoin. Failure to hold this support could signal a deeper correction. Resistance Levels: A breakthrough past $73,800 could set the stage for Bitcoin to test new highs, possibly reaching $78,000 or more in the short term. Beyond Elections: What’s Influencing BTC Price?  In addition to the upcoming 2024 US elections, Bitcoin price faces considerable volatility due to other key factors, especially:    Bitcoin as a Hedge in a Fragile Economic Environment The current economic backdrop, including soaring national debt and inflation concerns, has made Bitcoin an attractive hedge for investors. BTC’s decentralized nature and capped supply create an appeal as a safe-haven asset amid traditional market instability. Notably, experts like Henrik Zeberg predict that Bitcoin’s resilience could drive its price higher despite political uncertainties. In this light, BTC’s function as a financial hedge could persist, regardless of the election outcome.   The Role of Regulatory Clarity and Spot ETFs in BTC Growth Bitcoin ETF inflows | Source: CoinGlass    A significant driver of Bitcoin’s recent price movements has been the anticipation of regulatory clarity, particularly around spot Bitcoin ETFs. With the SEC’s approval of ETFs, Bitcoin has seen increased liquidity and stability. Institutional players like BlackRock are now able to offer Bitcoin exposure to traditional investors, creating a bridge between the crypto and financial markets. This dynamic has contributed to BTC’s recent price stability and positions it for potential long-term growth under a favorable regulatory framework.   Conclusion: Can Bitcoin Price Touch $100,000 Post-Election? The 2024 US presidential election presents a unique inflection point for Bitcoin. While the election’s outcome will likely influence short-term market sentiment, Bitcoin’s broader trajectory remains supported by strong fundamentals. From regulatory clarity to its role as a hedge against economic instability, BTC’s appeal continues to grow. Experts like 10x Research and Henrik Zeberg forecast that Bitcoin could reach $100,000 or higher in the coming years, with institutional interest and economic factors driving demand.   In the days ahead, heightened volatility is expected, but Bitcoin’s long-term potential remains intact. Whether fueled by Trump’s pro-crypto stance or Harris’s regulatory balance, Bitcoin’s march towards new highs seems inevitable. As the election unfolds, Bitcoin investors should keep an eye on key technical levels and consider the broader economic backdrop to navigate potential price movements.   Read more: Crypto Market Braces for Election Volatility, November Token Unlocks, and Peanut Memecoins: Nov 4

At 8:00 AM UTC+8, Bitcoin was priced at $69,203, showing a -0.86% decrease, while Ethereum stood at $2,476, down by -1.46%. The market's 24-hour long/short ratio in the futures market was almost balanced at 48.7% long versus 51.3% short positions. The Fear and Greed Index, which measures market sentiment, was at 74 yesterday, indicating Greed level and has decreased to 70 today, maintaining the crypto market at the Greed territory.    What’s Trending in the Crypto Community?  The U.S. will begin its 2024 presidential election on Tuesday, with major polls showing a close race between Trump and Harris. Tether's secured loans in reserves have reached a total of $6.72 billion, fully backed by liquid assets. Ethereum's net supply increased by 11,609 coins over the past seven days. On Polymarket, Trump's probability of being elected president dropped to 56.6%, while Harris's rose to 43.6%. U.S. Bitcoin spot ETFs saw a cumulative net inflow of $2.22 billion this week. Crypto Fear & Greed Index | Source: Alternative.me    Trending Tokens of the Day  Top 24-Hour Performers  Trading Pair  24H Change GRASS/USDT +9.29% GOAT/USDT +24.84% SUI/USDT +2.59%   Trade now on KuCoin   Read More: Bitcoin Prediction to $100K, GRASS Airdrop Sets Records, and Robinhood's Crypto Surge: Oct 31   The crypto market is buzzing with major developments. Traders and investors are preparing for a mix of heightened BTC and ETH volatility as election results loom, substantial token unlocks this month, and a surge in Peanut-themed memecoins on Solana. Each of these events holds the potential to significantly impact the market, making it crucial to understand the details and what might come next.   BTC and ETH Volatility Surge Ahead of Election Results BTC/USDT price chart | Source: KuCoin    Bitcoin and Ethereum are currently experiencing a surge in volatility, largely driven by uncertainty surrounding upcoming election results. Nick Forster, founder of Derive.xyz, reported that Bitcoin's forward volatility has jumped to 80.3%, compared to its previous level of 72.2%. Ethereum, too, saw its volatility rise, moving from 75.4% to 82.9%. This sharp increase points to traders adjusting their positions and hedging against potential impacts.   ETH/USDT price chart | Source: KuCoin   The upcoming election brings an elevated chance of significant price swings. Forster suggests a two-thirds probability of substantial price movements on election night, with Bitcoin's expected price range falling between -9% and +9.9%. Ethereum, meanwhile, is expected to move within a slightly broader range of -9.3% to +10.2%. These anticipated fluctuations are signs of increased market risk, but they also suggest opportunities for those prepared to navigate the volatility.   Despite the potential for rapid price changes, market sentiment appears to lean bullish. The total open interest for BTC call options stands at 1,179 contracts, compared to 885 contracts for put options. This implies that many traders are hopeful for a positive outcome once the election dust settles. The choices traders are making show confidence, at least for now, that any political outcomes may ultimately have a favorable influence on crypto.   $2.6 Billion in Tokens Set to Unlock in November November is a crucial month for the release of locked crypto assets, with a staggering $2.68 billion in tokens set to be unlocked, as reported by Tokenomist. This includes over $900 million that will be released at once, often called a "cliff unlock," while around $1.7 billion will be gradually unlocked throughout the month.   Unlock progress for the MEME token | Source: Tokenomist   Token unlocks are significant because they can create substantial pressure on token prices, especially when large quantities hit the market. Notable projects releasing tokens this month include Memecoin (MEME), Aptos (APT), Arbitrum (ARB), and Avalanche (AVAX). Memecoin alone will see 3.45 billion tokens unlocked, with an estimated value of $37.8 million. These releases come in two forms: cliff unlocks and linear daily releases of over 10 million tokens, worth approximately $117,000 each day. This influx of supply could lead to price swings, especially as Memecoin's price remains 81% below its peak earlier this year.   Arbitrum, a well-known Ethereum layer-2 solution, will also release a significant amount—92.65 million tokens worth $45 million. These tokens are allocated to early investors, team members, and advisors. This follows Arbitrum’s substantial release back in March, when they unlocked $2.32 billion worth of tokens. These kinds of releases can impact token price if supply exceeds current market demand, especially if early holders choose to cash out.   The token unlocks could bring a ripple effect throughout the market. An increase in available supply may create downward pressure on prices, but it also provides an opportunity for those looking to accumulate tokens at a discount. Investors will need to monitor how these releases play out and whether new demand will be sufficient to offset the increased supply.   Peanut Memecoins Stir Up Solana DeFi Markets Peanut the Squirrel memecoins on Solana. Source: Dexscreener   The DeFi market, especially on Solana, has seen a new frenzy sparked by an unusual character—a squirrel named "Peanut." This viral sensation has inspired memecoin creators to flood the market with Peanut-themed tokens, resulting in eye-catching price action and notable market activity.   Peanut's unexpected rise in popularity led to the creation of several Peanut-themed tokens on the Solana network. Among them, "Peanut the Squirrel" (PNUT) has made a particularly large impact, recording a trading volume of nearly $300 million and over 200,000 transactions. PNUT's market capitalization reached a peak of $120 million, though it has since corrected and currently stands at $100 million. The trading volume and rapid price changes indicate the appeal of these kinds of niche, culture-driven tokens that tend to gain popularity overnight.   Another Peanut-themed token achieved a market cap of $80 million with trading volume surpassing $110 million. This shows that the trend is not limited to one blockchain and suggests that the appeal of memecoins remains strong, especially those tied to pop culture or viral stories.   Adding to this memecoin frenzy, a raccoon-themed token—based on Peanut’s raccoon companion—also entered the scene. Named "First Convicted Raccoon" (FRED), the token recorded nearly 150,000 transactions and a trading volume of $83 million, though its market cap was only $8.2 million. Despite being smaller in scale, FRED’s rapid traction highlights how quickly meme-driven projects can capture the market’s attention, even if their long-term viability remains questionable.   These memecoins are more than just hype—they provide a reflection of how quickly narratives can drive market action in the crypto world. While most of these tokens may not hold long-term value, they represent the speculative aspect of DeFi, where community, pop culture, and fun play significant roles.   Read more: Top Solana Memecoins to Watch in 2024   Conclusion The crypto market is in a phase of high activity and uncertainty. Volatility is increasing for major assets like BTC and ETH due to upcoming election results, and billions in tokens are set to unlock throughout November, which could create both opportunities and risks for investors. Meanwhile, the rise of Peanut-themed memecoins on Solana shows that the speculative, culture-driven aspect of crypto remains alive and well.   For traders and investors, staying on top of these dynamic developments is essential. Each event—the election, token unlocks, and the memecoin craze—has the potential to shift market conditions rapidly. As always in crypto, being prepared and informed is the key to navigating these unpredictable waters.

At 8:00 AM UTC+8, Bitcoin was priced at $72,344, showing a -0.54% decrease, while Ethereum stood at $2,659, up by +0.77%. The market's 24-hour long/short ratio in the futures market was almost balanced at 49.8% long versus 50.2% short positions. The Fear and Greed Index, which measures market sentiment, was at 77 yesterday, indicating a "Extreme Greed" level and has maintained 77 today, increasing the crypto market to Extreme Greed territory.    What is Trending in the Crypto Community  In October, the U.S. saw an ADP employment increase of 233,000, surpassing expectations and prior figures. The Q3 real GDP annualized growth was 2.8%, falling below forecasts and prior results. Meanwhile, the core PCE price index rose by 2.2%—higher than anticipated but lower than previous levels. Additionally, real personal consumption expenditures climbed by 3.7%, exceeding both prior values and expectations. Microsoft shareholders have begun preliminary voting on whether the company should invest in Bitcoin. MicroStrategy plans to raise $42 billion over the next three years to buy more Bitcoin. U.S. Bitcoin spot ETFs saw a net inflow of $4.73 billion over the past 13 trading days. Vitalik Buterin previously donated 400 ETH from meme coin sales to a Ukrainian charity. The amount bet on the U.S. presidential election on Polymarket has exceeded $2.7 billion. Canadian-listed company Sol Strategies sold $1.71 million worth of Bitcoin and increased its holdings by 12,389 SOL.     Crypto Fear & Greed Index | Source: Alternative.me    Trending Tokens of the Day  Top 24-Hour Performers  Trading Pair  24H Change MKR/USDT +8.56% LINK/USDT +4.16% AAVE/USDT +3.73% Trade now on KuCoin   Read More: BTC Surpasses $73,000, SUI Surges Amid Strong Ecosystem Performance: Oct 30   Bitcoin Set to Hit $100K by January 2025 — 10x Research 10x Research analysts say Bitcoin could reach $100,000 by January 2025, driven by strong institutional interest and bullish market signals. Despite Bitcoin nearing a new high, retail trader interest remains low.   The $100,000 price target is based on their model, which recently triggered two buy signals, the latest on October 14. The model claims an accuracy rate of 86.7% over the last 15 signals. Analysts explained that when Bitcoin hits a six-month high, it typically sees a 40% return over the next three months. At the current price of $73,000, a 40% rise would push Bitcoin past $101,000 by January 27, 2025.   Bitcoin buy signal. Source: 10x Research   Institutions like BlackRock are treating Bitcoin as a long-term stable asset—digital gold. 10x Research explained, "Gold has always been seen as a safe haven asset, so if Bitcoin is the new digital gold, it makes sense that institutions would be interested." In October alone, spot Bitcoin ETFs brought in $4.1 billion worth of Bitcoin.   Spot Bitcoin ETF monthly flows. Source: 10x Research   Read More: BlackRock's Bitcoin ETF IBIT Gains $329M Amid Bitcoin Dip   Bitcoin Nears All-Time High, Retail Still Unmoved Bitcoin touched $73,562 on October 29, just shy of its all-time high, but later settled around $72,300. Despite this rally, retail interest remains low. Google search data shows “Bitcoin” is at 23 out of 100 compared to May 2021's peak.   Search interest in “Bitcoin” since October 2019. Source: Google Trends   Crypto analyst Miles Deutscher noted that Bitcoin is close to breaking its all-time high, yet retail traders seem uninterested. Coinbase’s app ranks 308th in the Apple App Store, far below its typical top-50 rank during bull runs. It did, however, jump 167 spots between October 28 and 29, hinting at renewed interest.   CryptoQuant analysts said retail investors are slowly returning but are being outpaced by larger investors. Historically, retail activity lags behind rallies, often joining only after big gains are made.   GRASS Becomes Biggest Solana Airdrop With 1.5 Million Claims The GRASS token airdrop on Solana set a record, with 1.5 million addresses claiming tokens. This makes it the most claimed airdrop on Solana so far, according to Dune Analytics. GRASS is the governance token for a Solana-based DePin project.   Source: https://dune.com/asxn_r/grass-claims   The launch was so popular it caused an outage in Phantom, Solana's biggest wallet. Over 2.8 million wallets are eligible for GRASS, with 5 million addresses able to claim eventually, said Andrej Radonjic, CEO of Wynd Labs. It’s important to note that users may have multiple addresses, so GRASS isn't necessarily the most held token in terms of unique users.   GRASS is a viral crypto project that scrapes and cleans web data to train AI bots. Users get GRASS tokens for sharing their bandwidth. Andrej Radonjic noted that users are finally receiving ownership for sharing their bandwidth, challenging a decades-long trend of companies exploiting user data for profit. The token is also used to stake on the network and pay for bandwidth.    GRASS token price on KuCoin   Read More: What Is Grass Network (GRASS) and How to Earn Passive Income from It?   Robinhood’s Q3 Crypto Volumes Climb to $14.4 Billion, More Than Double From Last Year Robinhood reported Q3 earnings, showing a strong interest in cryptocurrency trading. Crypto volumes hit $14.4 billion, up 112% from last year. Equity trading also rose, reaching $286.2 billion, a 65% increase. Despite this growth, crypto trading has slowed compared to earlier quarters—down from $21.5 billion in Q2 and $36 billion in Q1.   Transaction-based revenue grew by 72% year-over-year to $319 million. Cryptocurrency trading brought in $61 million, up 165% from last year. Assets under custody (AUC) rose 76%, boosted by net deposits and rising stock and crypto values.   Robinhood reported $0.17 per share earnings for Q3, compared to a loss of $0.09 per share last year. Revenue was $637 million, just below the expected $650.67 million. CFO Jason Warnick said, “Q3 was another strong quarter, as we drove 36% year-over-year revenue growth.”   Robinhood is also expanding support for Bitcoin and Ethereum futures. The company introduced event contracts, letting users bet on outcomes of events like the U.S. presidential election.   Conclusion The crypto landscape is buzzing with activity, from Bitcoin’s predicted climb toward $100,000, fueled by institutional interest, to retail investors slowly re-entering the scene. GRASS has set a new record as the most-claimed airdrop on Solana, highlighting strong community engagement in decentralized projects. Meanwhile, Robinhood continues to show growth, with crypto trading volumes more than doubling year-over-year. However, the lackluster interest in Bitcoin on Google Trends paints a complex picture of whether retail investors are sufficiently drawn to "digital gold" during this current bull run.

At 8:00 AM UTC+8, Bitcoin was priced at $72,736, showing a 3.97% increase, while Ethereum stood at $2,638, up by 2.78%. The market's 24-hour long/short ratio in the futures market was almost balanced at 51.8% long versus 48.2% short positions. The Fear and Greed Index, which measures market sentiment, was at 72 yesterday, indicating a "Greed" level and has increased to 77 today,  increasing the crypto market to Extreme Greed territory.    Quick Take  Bitcoin briefly hit $73,620 before pulling back, coming just $150 short of its all-time high. Bitcoin reached a new peak against the Mexican Peso. Total trading volume of U.S. spot Bitcoin ETFs surpassed $4.5 billion, with BlackRock's spot Bitcoin ETF trading volume reaching $3.3 billion, the highest in six months.  The total market cap of Memecoins on Solana surpassed $12 billion, marking a new all-time high. Alphabet's Q3 revenue and earnings per share exceeded expectations. Circle plans to increase the exchange fee for the USDC stablecoin. Besides, Circle will jointly release a privacy ERC-20 framework in collaboration with Inco Network. Crypto Fear & Greed Index | Source: Alternative.me    Trending Tokens of the Day  Top 24-Hour Performers  Trading Pair  24H Change GOAT/USDT +10.77% SUI/USDT +10.24% GRASS/USDT +16.04%   Trade now on KuCoin   Read More: X Empire Token Launches on KuCoin, Solana Network's Daily Fees Revenue Reaches New Highs: Oct 25   Bitcoin Set for "Perfect Storm" to New All-Time High as it Surpasses $73,000 with a 3.97% Increase in 24 Hours BTC/USDT price chart | Source: KuCoin   Bitcoin is poised for significant price action which suggests a "perfect storm" which may push it to a new all-time high soon. Several factors are aligning: uncertainty surrounding the upcoming U.S. presidential election, market optimism related to Donald Trump's potential victory, and historically bullish Q4 trends.   The potential influence of a Trump victory, combined with positive seasonality, could lead to strong gains for Bitcoin. Despite volatility driven by geopolitical unrest in the Middle East and macroeconomic challenges in the U.S., Bitcoin's price has rebounded sharply in recent weeks. Analysts see these conditions as creating a unique window of opportunity for the digital currency.   Currently, Bitcoin's price sits at $72,736, marking a 3.97% increase in the past 24 hours. This is the highest level in nearly five months, with many investors feeling confident about continued growth leading into the election.   Read more: Bitcoin Soars Past $62,000 Following Trump Assassination Attempt: The Trump Effect   Dive Into More Bullish Coins: SUI, DEEP, MOVE SUI experienced a notable surge of 10% today, breaking through the $2 mark, signaling strong momentum in the Sui ecosystem. This bullish movement was accompanied by significant gains across other ecosystem tokens, highlighting broader investor confidence.      DEEP led the way with a remarkable 30% increase, while MOVE followed closely with a 36% rise. NAVX also showed positive momentum, climbing 16%, and CETUS gained 10%, reflecting a comprehensive uptrend across the network. The synchronized rally in these tokens suggests growing enthusiasm and adoption within the Sui ecosystem, possibly driven by new developments, partnerships, or market sentiment favoring the project.   Read More: Top Sui Memecoins to Watch in 2024-25   NBA Topshot NFT Sales Hit Six-Month High as 2024 Season Begins Source: CryptoSlam   The start of the 2024-2025 NBA season has reignited interest in NBA Topshot NFTs, leading to the highest weekly sales in over six months. As the Boston Celtics and New York Knicks tipped off the new season on October 22, excitement spilled over into the NFT market.   Weekly sales for NBA Topshot NFTs reached 43,600 as of October 27, representing a significant 94% increase from the previous week. This spike comes after a period of stagnation, where sales dropped to an average of 26,000 NFTs during and after the playoffs.   The renewed activity highlights how key events like the start of a new sports season can have a tangible impact on NFT sales. With the current trend, analysts believe that NFT activity related to basketball will continue to rise throughout the season, driving both fan engagement and market activity.   Solayer and OpenEden Launch Yield-Based Stablecoin on Solana Solayer’s sUSD minting diagram. Source: X   Solayer and OpenEden have launched a new yield-based stablecoin on the Solana blockchain, named sUSD, which is backed by U.S. Treasury bills. This stablecoin marks the first of several tokenized real-world assets (RWAs) that Solayer plans to offer, allowing users to access investment opportunities with as little as $5.   The sUSD operates as a request for quote (RFQ) marketplace, where users can deposit USD Coin (USDC) and receive sUSD tokens in return. The stablecoin aims to bring more accessible financial products to a broader audience by leveraging the power of tokenization.   Solayer has already facilitated nearly $300 million in restaked total value locked (TVL) on its platform. Experts predict that the market for tokenized RWAs could grow 50 times by 2030, representing a massive opportunity. The sUSD stablecoin seeks to capture early adopters interested in both blockchain technology and secure yield-bearing assets like U.S. Treasury bills.   Read more: Restaking on Solana (2024): The Comprehensive Guide   Musk's AI Startup xAI Seeks $40 Billion Valuation in New Funding Round xAI is aiming to raise several billion dollars in an upcoming funding round that could push its valuation to $40 billion, representing a $16 billion increase from its $24 billion valuation after a $6 billion raise in the spring, according to the Journal. Though the funding discussions are still in early stages and could change or fall through, the potential growth reflects significant market interest in xAI. The company has yet to comment on the matter, as noted by Forbes.   Elon Musk's AI startup, xAI, is aiming to raise funds at a valuation of around $40 billion. The company recently held discussions with investors to support its next phase of growth. This follows an earlier valuation of $24 billion after a successful $6 billion fundraising round in the spring. xAI tries to keep up with increasingly higher valuations at rival companies such as OpenAI.   xAI raised funding from Andreessen Horowitz, Sequoia Capital, and Fidelity. The startup, known for its "Grok" chatbot on Musk's social platform X, plans to use the cash to launch its first products and speed up research. xAI is hiring for many roles, as seen on its careers page. Since the funding, xAI has grown rapidly, building a massive data center in Memphis this summer. The center runs 100,000 Nvidia chips at once, giving xAI unmatched computing power to train its AI model, according to Semafor.   As part of its growth strategy, xAI plans to double the number of graphics processing units (GPUs) at its Memphis data center—from 100,000 to 200,000. This expansion aims to improve xAI's computational power to support its advanced AI research and development efforts. NVIDIA's CEO has praised xAI for rapidly setting up the data center and scaling its operations in a short amount of time.   Read More: Top 15 AI Crypto Coins to Know in 2024   Conclusion Recent market shifts and project updates reveal exciting growth across various sectors of the blockchain and AI landscapes. Bitcoin's surge past $73,000 shows strong investor sentiment amid political uncertainties and seasonal bullish factors. The Sui ecosystem also saw impressive gains, with tokens like DEEP and MOVE leading the charge, showcasing rising enthusiasm. As the U.S. election approaches on November 5, we may expect increased volatility in the crypto market, creating unique opportunities for seasoned traders in options and futures. However, investors should remain vigilant during these volatile times and take necessary steps to mitigate risks.

As of October 29, Bitcoin's market performance remains robust, with the price around $71,299, marking a 5.13% increase in the past day and pushing Bitcoin's market cap to $1.41 trillion. Bitcoin's market dominance is approximately 58.6%, fueled by steady inflows into spot Bitcoin ETFs and heightened bullish sentiment ahead of the upcoming U.S. election.   The Fear and Greed Index currently reads 72, placing it in the "Greedy" zone—an indicator of market optimism and investor confidence as prices remain strong. In the futures market, the long-short ratio reflects a predominantly bullish outlook, with a majority of traders favoring long positions. This trend aligns with substantial institutional inflows into Bitcoin-focused financial products, collectively reinforcing Bitcoin’s positive momentum as the final U.S. presidential election nears on November 5, 2024.    Quick Take  Forbes: Central banks worldwide are increasing their research on Bitcoin. Robinhood launches U.S. presidential election derivatives trading. Solana’s market cap surpasses PayPal,  Reaches $83.63 Billion.  Coinbase report: Solana network activity is mainly concentrated in U.S. time zones, with DEX-related activities accounting for 75%-90% of total successful transaction fees. Swell L2 announces migration to Optimism Superchain. Crypto Fear & Greed Index | Source: Alternative.me    Trending Tokens of the Day  Top 24-Hour Performers  Trading Pair  24H Change MOG/USDT +17.28% DOGE/USDT +16.01% RUNE/USDT +14.61%   Trade now on KuCoin   Read More: Tether Transparency, Arkham Expands to Solana, and Vitalik's Ethereum Vision of “the Purge”: Oct 28   Bitcoin's Market Dominance Nearing 60%  BTC/USDT price chart | Source: KuCoin   Bitcoin nears 60% market dominance, signaling a shift as investors prioritize its stability over altcoins. With a 10% rise in dominance this month, Bitcoin emerges as a "flight to quality" asset in uncertain markets, while altcoins continue to show lackluster market performance compared to the leading coin.    Last year, Bitcoin's market share dropped below 40%. It hit a low during a prolonged bear market with declining values and shaken confidence. Since then, Bitcoin steadily regained strength. Growing institutional interest, regulatory developments, and its reputation as a hedge against economic uncertainty drove this trend. Experts predict more growth in Bitcoin's dominance.   Bitcoin's recent surge is driven by a combination of technical momentum and substantial capital inflows, reinforcing its bullish outlook. For the week ending Oct. 25, Bitcoin funds recorded $920 million in inflows, pushing year-to-date inflows to an impressive $25.4 billion, as reported by CoinShares. This momentum followed an even larger wave of inflows into the 11 U.S. spot Bitcoin ETFs, which accumulated over $2.1 billion in net inflows just a week earlier, according to Farside Investors.   Additionally, Bitcoin's chart saw a significant technical event known as a “golden cross,” where its 50-day moving average surpassed the 200-day moving average. This bullish signal often indicates potential for a sustained price breakthrough, and with robust inflows and positive market sentiment, Bitcoin appears well-positioned for continued growth.   Solana's Flips Ethereum in Daily Transaction Fees  Solana recently overtook Ethereum in daily transaction fees, generating $2.54 million in 24 hours, surpassing Ethereum’s $2.07 million . This surge places Solana among the top fee-generating blockchains and shows growing market activity. Increased activity on Raydium, a major decentralized exchange on Solana, drove the spike in fees. Raydium's fast transactions and lower costs attracted more traders and liquidity, boosting Solana's volume.   Protocols by 24 hour fees. Source: DefiLlama   The rise in Solana's fees shows its scalability and ability to handle demand without slowdowns or cost spikes. This makes Solana appealing for DeFi projects, NFTs, and other blockchain applications needing high throughput and efficiency.   While Solana's gains impress, Ethereum still leads in overall fee generation. In the past month, Ethereum generated $134.6 million in fees. Its established ecosystem, strong developer community, and wide range of applications keep Ethereum as the leading blockchain. However, Solana's rapid growth suggests it could play a more important role in the future as projects seek alternatives to Ethereum's high fees and scalability issues.   Read More: X Empire Token Launches on KuCoin, Solana Network's Daily Fees Revenue Reaches New Highs: Oct 25   Base Leads in Stablecoin Volume Base, an Ethereum layer-2 network, recently led the market in stablecoin volume. On October 26, Base accounted for 30% of all stablecoin transactions, surpassing other major blockchains. This milestone and record transaction count highlight Base's growing influence and potential as a key player in the stablecoin market.   Stablecoins are essential to the crypto market. They bridge traditional and decentralized finance and provide a stable medium of exchange. Base's leadership in stablecoin volume shows that layer-2 solutions are crucial for scaling Ethereum's capabilities and solving issues like high fees and congestion. By offering faster and cheaper transactions, Base positions itself as a valuable platform for stablecoin users seeking efficiency.   After Base's surge in stablecoin volume, Solana and Ethereum also showed strong activity. Solana captured 25% and Ethereum took 20%. The competition to attract stablecoin transactions shows the growing demand for efficient blockchain solutions. Circle CEO Jeremy Allaire suggested that if this trend continues, USDC could reach an annual transaction rate of $6.6 trillion on Base alone, highlighting its growing role in the financial system.   Read More: Top Types of Stablecoins You Need to Know in 2024   Conclusion Despite setbacks, such as a dip following news of a Tether investigation, Bitcoin has demonstrated resilience. Meanwhile, networks like Solana and Base highlight continued growth potential for altcoins, particularly in DeFi, NFTs, and stablecoin transactions. With heightened volatility likely as the U.S. election on November 5 approaches, the crypto market may see dynamic shifts in the coming weeks.   Read more: Solana vs. Ethereum: Which Is Better in 2024?

At 8:00 AM UTC+8, Bitcoin was priced at $68,021, showing a 1.38% increase, while Ethereum stood at $2,507, up by 1.02%. The market's 24-hour long/short ratio in the futures market was almost balanced at 50.8% long versus 49.2% short positions. The Fear and Greed Index, which measures market sentiment, was at 74 yesterday, indicating a "Greed" level, but has slightly decreased to 72 today, keeping the crypto market in Greed territory.    Quick Take  Vitalik Buterin: Exploring targeted grants as an alternative to staking ETH. Ethereum Foundation sells ETH to fund developer projects within the ecosystem. Tether CEO Breaks Down USDT Reserves Amid Allegations  and denounced the Wall Street Journal's report as irresponsible. Solana's on-chain DEX daily trading volume led for 17 consecutive days; Base chain ranked third for 7 consecutive days. FTX reached a $228 million settlement with Bybit, allowing it to withdraw $175 million in digital assets and sell $53 million in BIT tokens to Bybit’s investment arm, Mirana Corp. Crypto Fear & Greed Index | Source: Alternative.me    Trending Tokens of the Day  Top 24-Hour Performers    Trading Pair  24H Change OM/USDT +9.86% DOGE/USDT +4.67% ORDI/USDT +3.73% Trade now on KuCoin   This past week, the crypto world has been marked by significant shifts, including Tether’s efforts to boost transparency, Arkham Intelligence’s expansion into Solana data, and Vitalik Buterin's roadmap to reduce Ethereum's complexity. Each of these developments highlights major transformations in the crypto ecosystem, bringing new capabilities and insights.   Read More: X Empire Token Launches on KuCoin, Solana Network's Daily Fees Revenue Reaches New Highs: Oct 25   Tether CEO Breaks Down USDT Reserves Amid Allegations   Amid claims that Tether was under investigation by U.S. authorities for violating anti-money laundering laws, CEO Paolo Ardoino provided transparency on the company’s reserves at Lugano's PlanB event. Tether holds $100 billion in U.S. treasuries, 82,000 Bitcoin (worth about $5.5 billion), and 48 tons of gold. Ardoino criticized the Wall Street Journal's report, denying any investigation and highlighting Tether's role in helping law enforcement retrieve illicit funds. Since 2014, Tether has assisted in recovering over $109 million linked to cybercrime and sanctions evasion. Ardoino also voiced concerns about the U.S. regulatory environment, citing the lagging policies that push innovative crypto firms to relocate abroad. Despite these issues, Tether remains optimistic, expecting changes in crypto regulations post-2024 U.S. elections. As of October, USDT reached a market cap of $120 billion—seen as a positive sign for the broader crypto market.   Tether tokens in circulation. Source: Tether   Arkham Adds Solana Data to Its Crypto Intelligence Platform   Arkham Intelligence has expanded its crypto tracking capabilities by adding Solana blockchain data to its platform. This update enables users to monitor large fund movements, receive real-time trading alerts, and follow Solana's top traders and investors. Solana, the fifth-largest blockchain by market cap, has become a hub for memecoin trading, particularly popular for its low fees and quick transactions. Arkham’s move aims to bring greater transparency and monitoring capabilities for Solana, providing more detailed data on transactions and market trends. The addition of Solana comes as part of Arkham's mission to broaden its blockchain coverage, giving users more robust tools for tracking and analysis in an increasingly diversified crypto ecosystem.   Source: X   Read more: Top Crypto Projects in the Solana Ecosystem to Watch in 2024   The Purge - Vitalik Buterin’s Plan to Address Ethereum Bloat   Ethereum’s co-founder Vitalik Buterin presented "The Purge," a proposed roadmap to reduce the blockchain’s "bloat" and complexity. Bloat occurs as Ethereum accumulates new features and stores massive amounts of historical data, which has made running a node challenging due to high storage requirements.    Chart depicting the current data required for full sync on the Ethereum network. Source: ycharts   Currently, an Ethereum node requires about 1.1 terabytes of storage for execution, adding a burden on individual participants. Buterin's solution involves reducing the necessity for every node to store all historical data while maintaining network redundancy. His plan includes having nodes store only a portion of the blockchain’s history, thereby reducing costs while maintaining the blockchain’s integrity. Buterin also discussed expiring old blockchain state information to reduce storage needs further. This approach would help Ethereum stay scalable, secure, and accessible in the long term. "The Purge" is just one of several updates Buterin has suggested, alongside plans like "The Scourge" to mitigate centralization risks and "The Verge" to simplify computational processes, making Ethereum node management possible even for smaller devices like smartwatches.   The Purge roadmap showing the plan to simplify the protocol and eliminate technical debt. Source: vitalik.eth   Read more: What Is The Surge Phase in Ethereum 2.0 Upgrade?   Conclusion   The cryptocurrency ecosystem is transforming, as exemplified by Tether’s transparency efforts amid controversy, Arkham Intelligence’s expansion into Solana, and Vitalik Buterin’s vision for Ethereum’s future. These moves demonstrate a maturing market, seeking better compliance, transparency, and scalability. As blockchain technology continues to evolve, staying informed is vital for those engaged in this dynamic space. Each of these developments, in its own way, points toward a more inclusive, transparent, and efficient digital economy.

At 8:00 AM UTC+8, Bitcoin was priced at $68,200, showing a 2.30% increase, while Ethereum stood at $2,536, up by 0.45%. The market's 24-hour long/short ratio in the futures market was almost balanced at 49.7% long versus 50.3% short positions. The Fear and Greed Index, which measures market sentiment, was at 69 yesterday, indicating a "Greed" level, but has slightly increased to 72 today, keeping the crypto market in Greed territory. The US October S&P Global Manufacturing PMI preliminary value came in above expectations, and the same was true for the Services PMI.    Quick Take  Wall Street is preparing trades that could benefit if Trump wins over Harris, according to the Wall Street Journal. US spot Bitcoin ETFs have collectively surpassed 1 million BTC in total on-chain holdings. Tomarket's user base exceeded 40 million, with its Token Generation Event set for October 31. MicroStrategy's stock price surged above $230 on Thursday, reaching its highest level in nearly 25 years and setting a new peak since the company began its Bitcoin acquisition strategy in 2020. Microsoft added "evaluation of Bitcoin investment" as a voting item for the December shareholder meeting. Crypto Fear & Greed Index | Source: Alternative.me    Trending Tokens of the Day  Top 24-Hour Performers  Trading Pair  24H Change SAFE/USDT +70.47% MEW/USDT +13.31% RAY/USDT +7.11%   Trade now on KuCoin   Bitcoin's Evolution Toward a Stable Currency by 2030: Analysis from CryptoQuant CEO Over the past three years, Bitcoin mining difficulty has experienced a substantial increase, rising by 378%. This surge has largely been fueled by considerable institutional investments in large-scale mining operations, thereby intensifying entry barriers for individual miners. Ki Young Ju, CEO of CryptoQuant, argues that this trend may ultimately prove advantageous for Bitcoin, suggesting that increased mining difficulty could act as a precursor to Bitcoin's transformation into a stable currency by 2030.   Source: CryptoQuant Mining Difficulty    Ju argues that the increasing influence of institutional actors within the Bitcoin mining sector will contribute to reduced market volatility. The anticipated influx of major fintech players is expected to catalyze the widespread adoption of stablecoins over the next three years, which may lay the groundwork for Bitcoin's utilization as a common transactional currency following the next halving event in 2028. The centralization of computational resources driven by institutional participation is expected to bolster the stability of the Bitcoin ecosystem—a critical prerequisite for its evolution into a widely adopted currency.   X Empire Token Launches on KuCoin The Elon Musk-themed game X Empire recently launched its token on The Open Network (TON). $X is a token based on the TON blockchain, designed to power the X Empire. X Empire combines AI, NFTs, and Web3 technologies and is available for trading on KuCoin starting Oct. 24.   X/USDT price chart | Source: KuCoin    The X Empire (X) token was launched on major exchanges, including KuCoin, on October 24. $X began trading at $0.000096, dropped to $0.00005, and briefly rebounded to $0.00013 before declining again. Market participants had generally expected a price closer to $0.0002. At its current valuation, X Empire's market capitalization sits just below $40 million—significantly lower than Catizen's $106 million, Hamster Kombat's $217 million, and far beneath Notcoin's $786 million.   The developers of X Empire have outlined plans to release multiple Telegram applications designed to offer exclusive benefits to token holders, including a news feed and a language learning platform. Additionally, the team teased an upcoming announcement via Telegram, stating, "One month until something big," on Thursday.    Solana's Daily Fee Revenue Reached New Highs at $8.7M  Solana TVL and fees. Source: DefiLlama   Solana continues to build momentum with its recent surge in network revenues capturing the attention of the crypto community. Positioned as a fierce competitor to Ethereum, Solana's recent economic achievements show its growing presence and influence. Let's dive into the key developments.   Layer-1 blockchain Solana has once again broken network revenue records. On October 23, it generated approximately $8.7 million in network activity value, up from just under $8 million the previous day, according to Blockworks Research. This includes revenue from base fees, priority fees, and tips, highlighting Solana's growing economic footprint.   One key factor driving Solana's rise has been the surge in celebrity coin trading on Solana-based memecoin platforms like Pump.fun and Moonshot. The activity on these platforms has drawn attention and bolstered Solana’s reputation.   Furthermore, on October 21 Solana’s decentralized exchange Raydium generated $3.4 million in fee revenue, surpassing Ethereum's $3.35 million in the same period. This is another achievement for Solana, especially as Ethereum struggles to recover from a significant revenue drop following its March Dencun upgrade, which led to a 95% reduction in transaction fees.   Read more: Solana vs. Ethereum: Which Is Better in 2024?   Conclusion These recent developments underscore the volatility, unpredictability, and complexity that define the cryptocurrency sector. Bitcoin's prospective journey toward increased stability could represent a significant milestone for its mass adoption by 2030. Conversely, initiatives such as the Elon Musk-themed X Empire token highlight the inherent challenges and unpredictability involved in launching new tokens. On top of that, Layer-1 blockchain Solana has once again broken network revenue records. Moreover, the suspected stolen government-linked crypto holdings emphasizes the enduring risks associated with digital asset security. As the landscape continues to evolve, each event holds the potential to significantly shape the trajectory of digital assets. The journey of cryptocurrencies is far from complete, and stakeholders must maintain vigilance as this dynamic environment continues to unfold.

At 8:00 AM UTC+8, Bitcoin  was priced at $66,665, showing a 1.12% drop, while Ethereum stood at $2,524, down by 3.73%. The market's 24-hour long/short ratio in the futures market was almost balanced at 49.5% long versus 50.5% short positions. The Fear and Greed Index, which measures market sentiment, was at 69 yesterday, indicating a "Greed" level, though slightly down from 71 recorded 24 hours earlier. The crypto market remains in Greed territory today, with the Crypto Fear & Greed Index slightly decreasing from 70 to 69. Despite recent fluctuations, the overall market leans towards greed.   Quick Take  The crypto market saw a dip, with Bitcoin briefly falling to $66,000 and Ethereum dropping 5%, while Solana held steady. Tesla revealed it continues to hold $184 million in Bitcoin, showing its long-term commitment to the asset despite market volatility.  Investor sentiment remains cautious due to global uncertainties and the upcoming U.S. election, adding to market hesitancy. Crypto Fear & Greed Index | Source: Alternative.me    Trending Tokens of the Day  Top 24-Hour Performers    Trading Pair  24H Change GOAT/USDT +37.01% POPCAT/USDT +18.05% MEW/USDT +15.49%   Trade now on KuCoin   Crypto Market Slides: Bitcoin Dips to $66k, Ether Slides 5%, Solana Holds Firm BTC/USDT price chart | Source: KuCoin   Cryptocurrencies experienced a selloff in parallel with traditional financial markets on Wednesday. Bitcoin saw a decline of 2.3%, falling to $66,000 before recovering above $67,000, while Ethereum took a harder hit, dropping 5.3% to below $2,490. The broader crypto market, represented by the CoinDesk 20 index—tracking the top 20 cryptocurrencies by market cap—fell by 2.6%. Chainlink suffered the worst losses, slumping 7.6%, while Internet Computer managed to rise 1%, the only token to defy the downtrend. This selloff, occurring alongside traditional market downturns, highlights investor hesitancy amidst current global uncertainties.   Solana Outshines Ethereum, Reignites Debate on Blockchain Roadmaps SOL/USDT price chart | Source: KuCoin    One of the standout performances came from Solana, which held steady amidst the market declines. The SOL/ETH trading pair surged 6.3%, setting a new all-time high, while ETH/BTC hit its lowest point since April 2021. This strong showing from Solana has reignited debates around Ethereum's roadmap. According to Brian Rudick, director of research at GSR, Ethereum's underperformance must be analyzed in the broader context. He pointed out that the recent success of spot Bitcoin ETFs and the revival of Solana following the FTX collapse were unique events that helped BTC and SOL significantly outperform ETH. Rudick emphasized that, discounting the FTX collapse, Ethereum's performance since the 2021 crypto peak has actually been on par with Solana’s, suggesting that the current sentiment might be skewed by recent developments rather than longer-term trends.   Political Uncertainty and Upcoming U.S. Election Weigh on Sentiment Adding to the bearish sentiment is the uncertainty surrounding the upcoming U.S. presidential election. Joe Edwards, head of research at Enigma Securities, noted that even with crypto-friendly Donald Trump leading in betting markets, and Vice President Kamala Harris displaying a less antagonistic stance towards crypto compared to the current administration, markets are struggling to gain momentum. This lack of direction is likely tied to hesitancy around the political outlook and broader macroeconomic conditions. Investors are unwilling to make bold moves before seeing how the election unfolds, keeping upward momentum in check. With different drivers at play for each major asset, the near future of the crypto landscape appears uncertain, and traders will need to navigate these waters carefully in the weeks ahead.   Read More: Polymarket Hits Record $533M in Volume Amid U.S. Election Hype and Potential Token Launch   Tesla Holds Its Bitcoin, Reveals Q3 Financials Amid Stock Dip After Cybercab Reveal Tesla Retains Bitcoin Holdings for the Fifth Straight Quarter. Tesla's Q3 2024 earnings report revealed that the company held onto all its digital assets, including $184 million in Bitcoin, for the fifth consecutive quarter. This consistency in Bitcoin holdings highlights Tesla's approach to cryptocurrency as a strategic long-term asset.   In Q3, Tesla's revenue was $25.18 billion, slightly down from Q2's $25.5 billion, but net income showed a healthy increase, reaching $2.18 billion, up from $1.5 billion in the previous quarter. The continued holding of Bitcoin by Tesla and other public companies is closely monitored by investors, serving as an indicator of institutional interest in the crypto space and potential market impacts from selling pressures.   Source: Tesla Balance Sheet Q3   Arkham Intelligence Reports Wallet Movements, No BTC Sold Speculation about Tesla's Bitcoin wallet activity spiked when Arkham Intelligence reported a transfer from wallets believed to belong to the company. According to Arkham, Tesla still controls around 11,509 BTC, worth roughly $750.7 million. This finding was confirmed by Tesla's recent financial disclosures, confirming no crypto sales since 2022, despite rumors of asset movement. Tesla's firm commitment to Bitcoin reflects their confidence in its value as a digital asset. Despite investor skepticism following the launch of Tesla's self-driving Cybercab, the company's commitment to holding its Bitcoin remains unwavering. The decision by Tesla to retain its Bitcoin holdings is closely observed by investors and the broader market. Public companies holding large amounts of digital assets are often seen as indicators of institutional confidence in the crypto space. Tesla's consistency here reflects continued interest from significant players in the industry, which could impact market sentiment and the broader adoption of Bitcoin.   Conclusion Tesla’s ongoing commitment to its Bitcoin holdings, alongside its mixed revenue and profit performance, underscores its strategic perspective on cryptocurrency as a long-term asset. Investors closely watch moves like this from public companies to gauge broader institutional interest in crypto. As Tesla stands firm, it signals confidence in Bitcoin's role in the evolving financial landscape. Cryptocurrencies experienced a selloff in parallel with traditional financial markets on Wednesday. Adding to the bearish sentiment is the uncertainty surrounding the upcoming U.S. presidential election. With different drivers at play for each major asset, the near future of the crypto landscape appears uncertain, and traders will need to navigate these waters carefully in the weeks ahead.   Read More: HBO Spotlights Peter Todd, Avalanche Launches Crypto Visa, Sui Integrates with Google Cloud: Oct 23

Today's crypto highlights: Peter Todd is under scrutiny after HBO’s documentary suggests he might be Satoshi Nakamoto, sparking controversy and fear. Avalanche breaks new ground with its Visa card launch, bringing crypto payments closer to mainstream adoption. Sui Blockchain advances by integrating Google Cloud’s real-time data services, boosting blockchain utility. The crypto market remains in Greed territory today, with the Crypto Fear & Greed Index slightly decreasing from 71 to 70. Bitcoin (BTC) has shown some momentum, trading at $67,419 with a slight gain of +0.07%, while Ethereum (ETH) has dropped by -1.66% to $2,622. In the futures market, the 24-hour Long/Short ratio remains balanced at 49.5%/50.5%, reflecting relatively even sentiment among traders. Despite recent fluctuations, the overall market leans towards greed.   Crypto Fear & Greed Index | Source: Alternative.me   Trending Tokens of the Day  Top 24-Hour Performers      Trading Pair  24H Change SCR/USDT 118.7% UNIO/USDT 18.73% POKT/USDT 31.23%   Trade now on KuCoin   HBO Documentary Brings Peter Todd Into the Spotlight, Sparks Safety Concerns Peter Todd recently found himself in an unexpected spotlight. An HBO documentary, created by filmmaker Cullen Hoback, claimed that Todd is the mysterious creator of Bitcoin, Satoshi Nakamoto. The documentary premiered on October 9, alleging Todd's identity as the man behind the world’s most valuable cryptocurrency. Since then, Todd has voiced fears for his safety, explaining that the sudden association with Nakamoto's wealth has forced him into hiding.    Though Todd vehemently denied being the Bitcoin inventor, the exposure has put him at risk. In an interview with Wired, Todd stated, “Obviously, falsely claiming that ordinary people of ordinary wealth are extraordinarily rich exposes them to threats like robbery and kidnapping. Not only is the question dumb, it’s dangerous.” Todd pointed out that Satoshi Nakamoto took great efforts to remain anonymous to avoid precisely such threats, and he criticized those trying to uncover Nakamoto's identity.   Despite Todd's rebuttal, Cullen Hoback defended the documentary's purpose, arguing that identifying Nakamoto is important given the potential wealth associated with the Bitcoin creator. Hoback highlighted that an anonymous figure possibly controls one-twentieth of the global supply of Bitcoin, making Nakamoto’s identity significant. While the documentary raises questions, it has also put Todd in a precarious position, showing the potentially harmful impact of high-profile speculation in the cryptocurrency world.   Avalanche’s Crypto Visa Card Marks Milestone for Adoption Avalanche has launched its Visa Card, which brings cryptocurrency payments closer to mainstream use. The card enables users to make purchases using cryptocurrencies such as WAVAX, USDC, and sAVAX at any location that accepts Visa payments. Available in both virtual and physical formats, the card provides a seamless way for users to convert their digital assets into transactions across millions of merchants globally. Initially launched in Latin America and the Caribbean, the rollout is expected to expand to additional regions soon.   The Avalanche Visa Card represents a significant move in bridging traditional finance and the crypto economy. The card offers self-custody wallets for users, providing secure, unique addresses for each asset, and ensuring easy access to spending while maintaining high security. Features like spending alerts, card freeze options, and PIN customization give users more control over their funds, enhancing security.   One standout feature of the Avalanche Card is its non-bank status. This means that the card is not linked to any traditional financial institution, allowing users to enjoy the benefits of privacy without any impact on their credit scores. However, this also means that users need to handle their spending responsibly, as there are no reporting mechanisms to credit bureaus.   Avalanche's strategic launch in underbanked regions like Latin America aims to provide financial inclusion through blockchain technology. The card supports the goal of integrating cryptocurrencies into everyday financial transactions, allowing holders to spend crypto as easily as fiat currency. By bringing crypto payments into the physical world, Avalanche is working to drive the adoption of digital currencies, making them a practical alternative to traditional money. Though there are limitations regarding specific countries—such as Cuba, Venezuela, and Russia, where the card is not accessible—the initial rollout is a step forward in bridging financial gaps with crypto technology.     Sui Integrates with Google Cloud to Power Real-Time Blockchain Applications Sui, a decentralized blockchain network, has announced a new integration with Google Cloud, facilitated by blockchain infrastructure provider ZettaBlock. This partnership is a significant development for blockchain data accessibility, allowing developers to access real-time blockchain information through Google Cloud’s Pub/Sub service. By providing seamless data flow, this integration aims to boost the creation of innovative applications, such as AI-powered fraud detection and immersive gaming.   Blockchain technology acts as a decentralized digital ledger, making data transparent and secure. By integrating with Google Cloud, Sui’s blockchain data becomes available for applications that rely on real-time responsiveness. This is especially relevant for artificial intelligence models that need immediate access to the latest data, such as those used for monitoring transactions for signs of fraud.   The collaboration with Google Cloud means that developers can now build more sophisticated solutions on the Sui network. For example, AI models can detect suspicious transactions as they happen, rather than relying on older, static data. This ability enhances the effectiveness of fraud detection systems. Additionally, real-time blockchain data can enrich online gaming experiences by making games dynamic—altering difficulty levels or character behaviors based on actual blockchain events. ZettaBlock and Sui are looking forward to expanding these capabilities, offering developers advanced tools to make blockchain data more accessible for a wide range of applications.   See Also: Top Sui Memecoins to Watch in 2024-25   Source: X   Read More: Top Sui Memecoins to Watch in 2024-25   Conclusion The world of blockchain and cryptocurrencies is evolving rapidly, as seen in these latest developments. Peter Todd's forced association with Satoshi Nakamoto has thrown a spotlight on the real dangers of unverified claims in the crypto industry. Meanwhile, Avalanche’s Visa Card launch is a step toward integrating cryptocurrencies into everyday transactions, making digital currencies more accessible. Lastly, Sui's partnership with Google Cloud through ZettaBlock is helping provide innovative solutions with real-time blockchain data, empowering both AI and gaming industries. Stay tuned to KuCoin for up to date crypto news!

On October 21, investors took advantage of Bitcoin’s 3% dip, adding $329 million to BlackRock’s iShares Bitcoin Trust (IBIT). This marked the third time in four trading days that IBIT recorded over $300 million in inflows, reaffirming its dominance in the U.S. spot Bitcoin ETF market.   Quick Take BlackRock's iShares Bitcoin Trust (IBIT) gained $329M in inflows on October 21, despite Bitcoin’s 3% dip. Fidelity's Bitcoin fund followed with $5.9M in inflows, while other ETFs posted negative or flat flows. Bitcoin’s price dropped to $66,975 after failing to break the $70,000 resistance. Analysts predict a pullback to $62,000, following Bitcoin’s highest weekly close in five months. A quantile model suggests Bitcoin could range between $55,000 and $285,000 by 2025. Michael Saylor faced backlash over promoting custodial solutions for Bitcoin. Fidelity’s Wise Origin Bitcoin Fund (FBTC) followed with a $5.9 million inflow, while other spot Bitcoin ETFs saw flat or negative flows. This influx suggests investors continue to see Bitcoin as a long-term asset despite recent volatility.   Bitcoin’s Price Correction and ETF Performance Spot Bitcoin ETF inflows | Source: Farside Investors    Bitcoin’s recent dip to $66,975 came after a failed attempt to break the $70,000 resistance. This decline disrupted a 10-day rally fueled by election-related speculation. Analysts like Emperor predict a pullback to $62,000, signaling that further consolidation may be on the horizon.   Despite the price correction, Bitcoin ETFs continue to attract strong inflows, reflecting investor confidence. With IBIT now surpassing $23 billion in total net inflows, BlackRock’s product stands as one of the top-performing ETFs of 2024, alongside Vanguard and BlackRock’s S&P 500 funds.   Read more: Best Spot Bitcoin ETFs to Buy in 2024   Bitcoin’s Correlation with Traditional Markets Remains High BTC/USDT vs S&P 500 | Source: TradingView    Bitcoin's 40-day correlation with the S&P 500 remains above 80%, indicating that macroeconomic factors continue to influence both asset classes. While Bitcoin has historically decoupled from traditional markets during bull runs, recent trends suggest a tight alignment with equities.   Analysts believe that Bitcoin must decouple from stocks to regain its position as a non-correlated asset. In addition, Bitcoin’s growing correlation with gold suggests that investors are increasingly using it as a hedge against macroeconomic uncertainty.   Read more: The Bitcoin Stock-to-Flow (S2F) Model: A Comprehensive Guide   Quantile Model Predicts Bitcoin Could Reach as High as $285K in 2025 Source: X    Amid ongoing price volatility, analysts like Sina have employed a quantile model to predict Bitcoin’s market behavior. The model divides Bitcoin’s price trajectory into three zones—cold, warm, and hot—based on probability ranges:   Cold Zone (33% percentile): $55,000 to $85,000 Warm Zone (33%-66% percentile): $85,000 to $136,000 Hot Zone (66%-99% percentile): $136,000 to $285,000 Sina emphasized that Bitcoin tends to cycle between these zones over time. If Bitcoin stays within the cold zone throughout 2025, it presents a buying opportunity for long-term investors. In contrast, the hot zone represents peak market conditions, marked by rapid reversals and profit-taking.   Michael Saylor Promotes Custodial Bitcoin Solutions MicroStrategy’s chairman, Michael Saylor, sparked controversy on October 21 by promoting custodial solutions for Bitcoin through “too big to fail” financial institutions. Saylor's shift contrasts with his earlier stance on self-custody, which he once championed as essential for decentralization.   During an interview, Saylor dismissed concerns about government interference, referring to self-custody advocates as “paranoid crypto-anarchists.” He argued that large institutions would better safeguard Bitcoin assets, triggering criticism from Bitcoin advocates.   Sina, co-founder of 21st Capital, warned that Saylor’s pivot undermines Bitcoin’s ethos of financial sovereignty. Other analysts speculated that MicroStrategy’s long-term goal might involve positioning itself as a Bitcoin bank, further driving the narrative in favor of institutional custody.   Read more: MicroStrategy's Bitcoin Holdings and Purchase History: A Strategic Overview   Conclusion: Bitcoin ETFs Thrive Despite Volatility BlackRock’s IBIT continues to attract significant inflows, signaling sustained institutional interest in Bitcoin. While Bitcoin's recent dip to $66,975 has sparked predictions of further pullbacks, the resilience of ETF flows suggests long-term optimism among investors.   Saylor's pivot towards custodial solutions has reignited debates about Bitcoin’s core philosophy. However, the quantile model indicates a broad range for Bitcoin’s potential growth, with a peak price projection of $285,000 by 2025.   As Bitcoin consolidates near $67,000, investors will be watching for a move above $68,500 to maintain bullish momentum. For now, the continued inflows into Bitcoin ETFs reflect confidence in Bitcoin’s long-term value, even amid short-term corrections.   Read more: Stripe Acquires Bridge for $1.1B, Pump.fun Launches Advanced Terminal and More: Oct 22

The crypto market remains in the greed territory today, with the Crypto Fear & Greed Index decreased from 72 to 70. Bitcoin (BTC) has shown some decreasing momentum, trading at $67,375 in the past 24 hours. Despite recent fluctuations, the overall market sentiment leans towards greed.    Quick Take  Stripe made a major move into the stablecoin sector by acquiring Bridge for $1.1 billion. Pump.fun, a memecoin platform on Solana, launched an advanced trading terminal and hinted at an upcoming token launch and airdrop.  Chainlink continues to innovate by integrating AI and oracle technology, enabling near real-time access to corporate financial data on-chain.  Quick Market Updates  Prices (UTC+8 8:00): BTC: $67,375, -2.40%; ETH: $2,666, -2.93% 24-hour Long/Short: 48.5%/51.5% Yesterday’s Fear and Greed Index: 70 (72 24 hours ago), level: Greed Crypto Fear & Greed Index | Source: Alternative.me    Trending Tokens of the Day  Top 24-Hour Performers    Trading Pair    24H Change HOOK/USDT      -4.21% KLAUS/USDT      -9.82% DEEP/USDT  -14.41%   Trade now on KuCoin   Stripe Buys Stablecoin Platform Bridge for $1.1 Billion Stripe has acquired Bridge, a stablecoin platform, for $1.1 billion, more than five times Bridge's $200 million valuation. This deal is a strategic move for Stripe to enter the stablecoin market and enhance global money movement.   Bridge provides infrastructure for issuing and transferring tokenized money on various blockchains, serving clients like SpaceX, Coinbase, and Stellar. Stripe processed over $1 trillion in payments in 2023 and now aims to leverage stablecoins to make transactions faster, cheaper, and more efficiently, focusing on solving real-world financial problems.   Bridge shares Stripe’s belief that stablecoins can play a crucial role in transforming finance. The acquisition will accelerate their shared vision of creating a more efficient financial system with stablecoins at the center. Stripe plans to expand stablecoin adoption to make transactions easier across borders, improving the user experience for moving, storing, and spending money.   The timing is significant, with stablecoins gaining traction. According to a16z’s "State of Crypto 2024" report, stablecoins processed $8.5 trillion in Q2, surpassing Visa’s $3.9 trillion. This shows growing mainstream interest, with companies like Revolut and Visa exploring stablecoin use. Stripe’s acquisition of Bridge positions it to be a leader in this evolving financial landscape.   Read more: USDT vs. USDC: Differences and Similarities to Know in 2024   Pump.fun Launches Advanced Trading Terminal and Teases Token Airdrop Pump.fun, a Solana-based memecoin platform, has launched its latest trading tool—Pump Advanced. This new terminal aims to rival established platforms like Photon and Bull X. It includes features like mini charts, top holder stats, and social activity metrics, all in one interface. To attract new users, Pump.fun is offering 0% fees for the first month and secure logins through email with Privy, a non-custodial wallet solution.   During the launch event, co-founder Sapijiju hinted at the upcoming launch of a Pump.fun token and a possible airdrop, though no official timeline has been set. He indicated that the airdrop could be "a lot more lucrative" compared to others in the industry, sparking excitement among users. It’s expected that the token will launch on Solana, keeping in line with the platform’s current ecosystem.   Pump.fun has seen tremendous success since its January launch. It has generated over $140 million in fees and facilitated the creation of more than 2.5 million Solana-based tokens. The platform’s appeal lies in its simplicity, allowing users to easily create and launch tokens—contributing to popular meme coin trends like celebrity tokens and viral livestream stunts.   In the past week, Pump.fun reached a new high, with 31,600 new tokens created in a day, and its trading volume topped $1.1 billion. With the launch of Pump Advanced and its growing popularity, Pump.fun is strengthening its position as a major platform for meme coin enthusiasts, even as competition heats up on other networks. The introduction of its own token and airdrop could further boost its reputation and drive user engagement.   Chainlink Leverages AI and Oracles to Bring Real-Time Corporate Data Onchain Chainlink is tapping into artificial intelligence and decentralized oracles to revolutionize the availability of real-time corporate action data on the blockchain. Announced on Oct. 21, Chainlink's pilot project seeks to tackle inefficiencies in data surrounding mergers, dividends, and stock splits—information often stored in fragmented and unstructured formats like PDFs and press releases. By combining oracles and large language AI models, Chainlink converts off-chain data into a standardized digital format that is accessible in near real-time.   Source: Chainlink   The pilot is supported by major financial institutions like Franklin Templeton, Swift, UBS, and blockchain networks including Avalanche and zkSync. The use of AI and Chainlink oracles aims to reduce costs and manual processes, enhancing efficiency in managing corporate actions that cost financial institutions up to $5 million annually.   Mark Garabedian, director of digital assets at Wellington Management, emphasized how this system could dramatically cut manual work and bring cost savings. Decentralized oracles connect blockchains to the broader financial world, and Chainlink has been exploring how they can support institutional finance. Recent partnerships, such as with Taurus for institutional tokenization, aim to improve cross-chain mobility, transparency, and security.   Chainlink is positioning itself at the center of blockchain adoption within the traditional finance sector, driving innovation by integrating secure and verified data flows from the external financial ecosystem into the blockchain world.   Read More: 94% of Asian Private Wealth Considers Crypto Investing, Vitalik Buterin's Vision for “The Surge”, FBI Arrests SEC’s X Hacker: Oct 18   Conclusion Today highlights some transformative moves in the crypto sector. Stripe’s acquisition of Bridge signals its intent to lead the stablecoin revolution, Pump.fun's advancements push its presence further in the memecoin market, and Chainlink’s use of AI and oracles is setting the stage for bridging traditional finance and blockchain. As mainstream interest grows and more players innovate, the cryptocurrency landscape continues to evolve at an exciting pace. Keep an eye on these developments as they may reshape the industry's future.

Bitcoin’s derivatives market reached a significant milestone on October 21, with open interest (OI) surpassing $40.5 billion, according to CoinGlass. This surge came as Bitcoin flirted with the $70,000 mark, briefly reaching $69,380. OI refers to the total value of outstanding futures contracts that remain active, serving as an indicator of leverage in the market.   Quick Take Bitcoin derivatives surpassed $40.5 billion on October 21, signaling high leverage. The Chicago Mercantile Exchange (CME) accounts for 30.7% of total Bitcoin futures open interest. Bitcoin briefly touched $69,468 before retreating to $69,033.Ether and Solana outperformed Bitcoin in daily gains, rising by 3.5% and 6%, respectively. Bitcoin's Open Interest Hits 30.7% on CME Futures Exchange BTC Futures Open Interest | Source: CoinGlass    CME led the market with 30.7% of total OI, followed by Binance and Bybit at 20.4% and 15%, respectively.   High open interest indicates elevated leverage, which introduces volatility risks. If the market experiences sharp movements, liquidations could cascade, forcing traders to sell and driving prices down quickly.   A similar event occurred in August when Bitcoin lost nearly 20%, or $12,000, within 48 hours, dropping below $50,000. Traders are now cautious, as another sudden move could repeat this scenario.   Bitcoin Faces Strong Resistance at $70,000 BTC/USDT price chart | Source: KuCoin    Despite coming close to $70,000, Bitcoin faced resistance and pulled back slightly to $69,033. As of the time of writing, it trades just 6.4% below its all-time high of $73,738. Analysts suggest that breaking above this resistance level could trigger further bullish momentum.   Altcoins Also Gain Momentum: ETH Crosses $2,700, SOL Touches $170 ETH, SOL price charts | Source: TradingView   Bitcoin’s rally has also spurred growth in altcoins. Ether (ETH) rose by 3.5%, surpassing $2,750, while Solana (SOL) increased by 6%, reaching the key $170 mark. However, both assets saw slight pullbacks during trading hours.   Read more: Altcoin Season’s Here? AI Coins Surge, Worldcoin Leads Gains   Why Is Bitcoin Price Up Today?  Bitcoin’s recent price surge, nearing $70,000, is driven by favorable macroeconomic trends, institutional demand, and reduced supply. Central banks, including the Federal Reserve and ECB, are shifting toward relaxed monetary policies, with some already cutting interest rates. This has fueled investor appetite for higher-return assets like Bitcoin. Additionally, this year’s Bitcoin halving cut miner rewards in half, tightening supply and adding upward pressure on prices. Whale accumulation, mirroring pre-bull run patterns, further reflects growing investor confidence in Bitcoin's long-term value.   Institutional interest is also playing a pivotal role, with Bitcoin ETFs recording over $20 billion in inflows this year—outpacing gold ETFs, which took five years to reach similar levels. Market analysts believe this trend marks a new phase for Bitcoin’s mainstream adoption. Upcoming U.S. elections, continued bipartisan deficit spending, and China’s recent economic stimulus measures are also driving optimism across global markets. With these factors aligned, some experts, including Matt Hougan from Bitwise, predict Bitcoin is on track to hit $100,000 in the near future.   There is also some optimism in the crypto market owing to rising odds of Trump’s victory in the upcoming US Presidential elections. According to latest data on Polymarket, the odds of a Trump and Republican victory has spiked to 61% against Kamala Harris whose odds have dropped to 38%. With Trump being seen as pro-crypto, these odds have helped boost the mood among crypto traders.    What’s Next for Bitcoin Price? Market watchers expect Bitcoin to make another attempt at $70,000. Some analysts believe that breaking through this psychological barrier could “supercharge” the altcoin market, with assets like Ether and Solana benefiting from renewed investor confidence.   Bitcoin’s rising price and OI levels suggest that both retail and institutional investors are optimistic about further gains. However, traders should remain cautious, as sudden liquidations could disrupt the market, especially with the next major resistance level looming around $70,000.   Final Thoughts Bitcoin’s journey toward $70,000 is attracting significant attention, with futures markets reflecting heightened leverage. While optimism remains, traders need to stay vigilant for potential market shocks. If Bitcoin clears the resistance, the path to new highs may open — but with volatility expected along the way, the market’s next move will be crucial.   Read more: 94% of Asian Private Wealth Considers Crypto Investing, Vitalik Buterin's Vision for “The Surge”, FBI Arrests SEC’s X Hacker: Oct 18

October 21st brings major updates in the crypto market. Yuga Labs launched ApeChain, boosting the Bored Ape ecosystem with new cross-chain tools. Meanwhile, Solana targets $180 as memecoin demand drives network activity. Bitcoin has surged past $69,000, sparking fresh optimism. Tether’s USDT also hit a record $120 billion market cap, hinting at growing investor interest. Let’s dive into these highlights and see what’s fueling the market momentum.   The crypto market remains in the greed territory today, with the Crypto Fear & Greed Index increasing from 73 to 72. Bitcoin (BTC) has shown some positive momentum, trading above $69,000 in the past 24 hours. Despite recent fluctuations, the overall market sentiment leans towards greed.    Quick Market Updates  Prices (UTC+8 8:00): BTC: $69,034, +0.96%; ETH: $2,747, +3.74% 24-hour Long/Short: 51.5%/48.5% Yesterday’s Fear and Greed Index: 72 (73 24 hours ago), level: Greed Crypto Fear & Greed Index | Source: Alternative.me    Trending Tokens of the Day  Top 24-Hour Performers    Trading Pair    24H Change KCS/USDT      +2.75% KLAUS/USDT      +17.72% DEEP/USDT  +52.40%   Trade now on KuCoin   Quick Take on the Highlights in the Crypto Space for Oct. 21 BlackRock ETF Head: 80% of Bitcoin trading product buyers are direct investors USDT Market Cap exceeded $120 billion, a record high Vitalik Buterin discussed risks and key goals facing Ethereum, believes one of the biggest risks to Ethereum L1 is the centralization of proof of stake due to economic pressure Stripe has acquired stablecoin platform Bridge for $1.1 billion Read More: 94% of Asian Private Wealth Considers Crypto Investing, Vitalik Buterin's Vision for “The Surge”, FBI Arrests SEC’s X Hacker: Oct 18   Yuga Labs Unveils ApeChain: A New Ethereum Layer 2 for the Bored Ape Ecosystem Yuga Labs, the company behind Bored Ape Yacht Club, has officially launched ApeChain, an Ethereum-based Layer 2 blockchain. They’ve also introduced the ApeChain bridge and Swap portal, enabling smooth cross-chain transactions. This move is part of Yuga’s push to future-proof its ecosystem. Partnering with Wire Network, a Layer 1 blockchain built for the AI agent economy, Yuga aims to use AI agents to boost engagement between creators and their fans.   Wire Network’s CEO, Ken DiCross, emphasized the potential for advanced AI interactions through this partnership, combining scalable blockchain with Yuga's cultural impact:   Ken DiCross, CEO of Wire Network, stated:   “…By combining our scalable, next-generation blockchain infrastructure with Yuga’s creativity and cultural influence, we are opening up new possibilities for AI agent interactions.”   ~Ken DiCross   APE/USDT price chart | Source: KuCoin    Yuga also launched Top Trader, the first native product on ApeChain. This on-chain trading simulation allows users to trade with leverage up to 1,000 times without financial risk. Features include the Ape Portal for cross-chain payments and Yuga ID for simple account management. Transaction gas sponsorship and the Restart Protocol for managing tournament rewards also enhance the user experience.   ApeChain was built using the Arbitrum Orbit toolkit, focusing on improving security and scalability. ApeCoin DAO had initially considered building an independent blockchain but ultimately opted for a Layer 2 solution connected to Ethereum after extensive community discussion. This decision helps align ApeCoin with a more robust and scalable blockchain infrastructure.   Solana Eyes $180 Target as Memecoin Frenzy Fuels Bullish Momentum SOL/USDT price chart | Source: KuCoin    Solana (SOL) has seen impressive gains recently, trading around $154.59 after hitting a high of $156.43. The crypto market is on a positive trend, with Bitcoin above $68,000 and other altcoins like Ethereum and XRP also rising. Global market cap has climbed to $2.35 trillion, up 0.8%.   A surge in memecoin demand has boosted Solana’s network activity and total value locked (TVL). This could push SOL to the $180 mark if momentum continues, supported by strong trading volumes and network growth.   Read more: Top Solana Memecoins to Watch in 2024   From October 11 to October 18, SOL rose by 12.1%, partly driven by rising memecoin interest. The hype, such as a viral push for Goatseus Maximus (GOAT), helped Solana’s TVL hit a two-year high of 41 million SOL. Solana also led decentralized exchange volumes, growing by 43% to reach $11.16 billion, outpacing Ethereum’s layer-2 solutions.   On the 4-hour chart, Solana rebounded from the 50% Fibonacci retracement level around $147.51, setting up further gains. It surpassed the 23.6% Fibonacci level at $153.88, which now serves as a key support. If SOL breaks above $158.33, it could target the next resistance at $165, paving the way for a broader rally toward $180.   Technical indicators back this bullish outlook. The 50-period EMA at $151.33 provides solid support, while the RSI stands at 55, showing steady buying interest. If Solana maintains current support and breaks past resistance, it could continue its upward movement toward new highs.   Source: TradingView   BTC Hits $69K Amid Big Market Moves: Here’s How Markets Are Moving BTC/USDT price chart | Source: KuCoin   On Sunday, Bitcoin surged past $69,000, hitting a high of $69,363. It marked a 9.3% gain for the week, bringing its year-to-date growth to 63% and a 132% increase over the past year. The crypto market saw $71.3 billion in trading volume, with Bitcoin contributing $15.25 billion.   This time, Bitcoin climbed steadily back to $69,000, resulting in only $117.7 million in liquidations across derivatives markets. The last time Bitcoin reached these levels was in late July 2024, but it then tumbled to $49,577 in early August. This time, the climb was more gradual, leading to just $117.7 million in liquidations across the crypto derivatives market. Interestingly, BTC had fewer liquidations compared to ApeCoin (APE) and Ethereum (ETH), which saw bigger wipeouts over the past day.   Bitcoin’s rise shows renewed confidence after months of uncertainty. The lower liquidation figure suggests traders are handling leverage more cautiously. Ethereum and other altcoins faced more turbulence, showing a varied market reaction. As always, volatility remains a factor, and the key question is whether Bitcoin can maintain its momentum or if we will see a correction like in August.   Read More: Trump’s Crypto Platform Raising Only $12 Million (WLFI), Stripe in Talks to Acquire Bridge: Oct 17   Tether's USDT Hits $120B Market Cap: Is 'Uptober' About to Fuel a Bitcoin and Ether Comeback? Tether’s USDT stablecoin reached a record $120 billion market cap, signaling a potential shift in the crypto market on October 20th. This growing supply could provide the liquidity needed to fuel rallies for Bitcoin and Ethereum, potentially ending their seven-month downtrend. With October historically being a positive month for crypto, the increase in USDT could support the “Uptober” narrative, suggesting incoming buying pressure. Recent USDT flows to major exchanges like KuCoin hint at renewed investor interest, possibly driving the next bullish phase for Bitcoin and Ether.   Tether Tokens in circulation. Source: Tether.to   This milestone signals potential investor interest in upcoming crypto investments, as stablecoins are often used to enter the market. Historically, a growing USDT supply has been linked to Bitcoin rallies. In August, Tether minted $1.3 billion in USDT, which helped Bitcoin recover over 21% from a recent low. Data from Arkham Intelligence shows recent significant USDT flows into major exchanges like KuCoin, suggesting increased buying pressure that could fuel a Bitcoin rally this October.   Conversely, a lack of stablecoin inflows can signal a market correction. On August 12, Bitcoin dropped below the $60,000 level, staging a nearly 4% correction as institutional buying of USDT temporarily paused. This highlights the important role stablecoin inflows play in maintaining bullish momentum in the crypto market. When stablecoin liquidity stops flowing in, buying pressure weakens, which can lead to price drops. Monitoring USDT movements can provide insights into upcoming shifts in market sentiment, especially during volatile periods.   Tether treasury outflows. Source: Arkham Intelligence   Read more: USDT vs. USDC: Differences and Similarities to Know in 2024   Conclusion From ApeChain's launch to Bitcoin breaking $69,000, the crypto space is buzzing with action. Solana’s price rally and Tether’s record market cap signal renewed confidence and investor enthusiasm. As October progresses, "Uptober" is living up to its name. Investors are eager to see if these gains will continue or face resistance. Stay tuned to KuCoin for more as the crypto market unfolds.

On October 18, the crypto world saw significant developments. The FBI arrested a hacker responsible for breaching the SEC's X account in January. Aspen Digital reported that 94% of Asian private wealth is invested or considering crypto, highlighting growing interest. Additionally, Vitalik Buterin unveiled his ambitious plan for Ethereum called "The Surge." Meanwhile, Bitcoin's spot ETFs in the U.S. crossed $20 billion in net flows, demonstrating rising investor confidence.   The crypto market remains in the greed territory today, with the Crypto Fear & Greed Index increasing from 71 to 73. Bitcoin (BTC) has shown some positive momentum, trading above $67,993.90 in the past 24 hours. Despite recent fluctuations, the overall market sentiment leans towards greed.    Quick Market Updates  Prices (UTC+8 8:00): BTC: $67,424, -0.29%, ETH: $2,605, -0.22% 24-hour Long/Short: 49.7%/50.3% Yesterday’s Fear and Greed Index: 73 (71 24 hours ago), level: Greed Crypto Fear & Greed Index | Source: Alternative.me   Read More: Trump’s Crypto Platform Raising Only $12 Million (WLFI), Stripe in Talks to Acquire Bridge: Oct 17   Trending Tokens of the Day  Top 24-Hour Performers    Trading Pair    24H Change AIC/USDT      -0.67% BTC/USDT      +0.48% HACHI/USDT  728.22%   Trade now on KuCoin   Quick Take on the Highlights in the Crypto Space for Oct. 18 U.S. retail sales in September grew by 0.4%, surpassing expectations. The European Central Bank cut interest rates by 25 basis points. Aspen Digital reported that 76% of surveyed family offices and wealthy individuals in Asia are investing in digital assets; another 18% plan to join soon. Polymarket predicts a 64% chance of Bitcoin reaching $70,000 this month. The FBI arrested a man for posting fake Bitcoin ETF approval on the SEC's X account. FBI Arrests Hacker Behind SEC's X Account Breach On October 17, the FBI arrested Eric Council Jr. for hacking the SEC’s X account in January. He used a SIM swap attack to gain control of the SEC's social media, posting a fake announcement about a spot Bitcoin ETF approval. This event caused chaos which in turn caused Bitcoin’s price to spike, and investors scrambled. It was a stark reminder of how vulnerable even powerful institutions are to cyberattacks like SIM swapping. U.S. Attorney Matthew Graves highlighted the financial and personal damage such attacks can cause. Council now faces identity theft and fraud charges.   The SEC acted quickly. Chair Gary Gensler stepped in 15 minutes after the post went live, clarifying that no ETF had been approved. But the next day, the SEC did approve 11 spot Bitcoin ETFs. These funds now hold a combined $63.5 billion, underscoring the growing institutional interest in Bitcoin despite the earlier chaos.   Source: X   94% of Asian Private Wealth Investing or Considering Crypto A report from Aspen Digital shows that 94% of private wealth in Asia is either invested in or planning to invest in crypto. Interest has surged, up from 58% in 2022 to 76% already investing, with 18% more planning to. The survey, covering 80 family offices and high-net-worth individuals managing $10 million to $500 million, found most have less than 5% of their portfolios in digital assets. Interest is high in decentralized finance (DeFi), artificial intelligence, and decentralized infrastructure.   Change in blockchain interest in Asia. Source: Aspen Digital   Spot Bitcoin ETFs are also driving interest. 53% of respondents gain exposure through ETFs. This aligns with a global rise in crypto adoption driven by regulatory clarity and the launch of ETFs in the US and Asia. Bitcoin and Ether ETFs launched in Hong Kong in April, while the US started spot Bitcoin ETFs in January 2024.   Many surveyed investors remain optimistic. 31% believe Bitcoin will hit $100,000 by year-end, showing strong bullish sentiment among Asia’s private wealth.   U.S. Spot Bitcoin ETFs Cross $20 Billion in Net Flows On October 17, U.S. spot Bitcoin ETFs hit a milestone—crossing $20 billion in total net flows. This happened in just 10 months, which is incredibly fast compared to gold ETFs, which took five years to reach the same level. This rapid growth points to Bitcoin's increasing legitimacy as a store of value, comparable to traditional assets like gold.   Eric Balchunas, a senior ETF analyst at Bloomberg, called the $20 billion mark the hardest metric to grow for ETFs. The past week alone saw $1.5 billion in inflows, signaling strong investor confidence, especially with improving regulatory clarity around these products. Data from Farside Investors showed that on October 16, Bitcoin ETFs added $458 million worth of BTC, showing continued strong demand.   Source: Eric Balchunas   This growth also reflects a shift in how investors want exposure to Bitcoin. More people want access through regulated financial products, overseen by established institutions. The surge in net flows signals Bitcoin’s growing acceptance among mainstream investors, a positive sign for its long-term prospects.   Read more: Best Spot Bitcoin ETFs to Buy in 2024   Vitalik Buterin's Vision for “The Surge” in Ethereum's Roadmap Vitalik Buterin recently laid out an ambitious plan for Ethereum, called "The Surge." The goal? Scale Ethereum to handle over 100,000 transactions per second (TPS). To do that, Buterin wants to improve both Ethereum's main blockchain and its layer 2 solutions, like rollups. It's not just about speed; it’s about making Ethereum more efficient, accessible, and user-friendly.   Buterin stressed that Layer 2 networks should feel like a unified part of Ethereum, not separate chains. Right now, different L2 solutions can feel fragmented, which can confuse users. Buterin envisions a seamless experience where using an L2 feels just like using the main Ethereum network. This would make it easier for both new users and developers, helping Ethereum grow into a more cohesive and approachable platform.   The other big focus is on cost-cutting. Merging these will optimize computations on Ethereum to ensure a cheaper and highly scalable base layer, enabling the main chain to manage the demand that comes from L2 rollups.This would make the context in which developers have to work much easier, while users will pay lower fees and notice no difference at all.   The goal of "The Surge" is to complete Ethereum’s rollup-centric roadmap while keeping decentralization and security intact. By focusing on scaling, improving user experience, and enhancing interoperability, Buterin wants to make Ethereum a more robust and easy-to-use platform. This is about laying the foundation for Ethereum to continue evolving as a key player in decentralized infrastructure globally.   Read more: Ethereum 2.0 Upgrade   Conclusion The top headlines today underscore the growing adoption of crypto assets and the steps regulators and industry leaders are taking to secure and scale the ecosystem. The arrest related to the SEC hack reminds us of ongoing cybersecurity challenges, while the increased interest in Bitcoin ETFs and Ethereum’s scaling plans reflect the sector's potential. Investors across Asia, coupled with new products like ETFs and technological improvements led by Vitalik Buterin, signal a promising outlook for digital assets in the evolving financial landscape.

The convergence of political dynamics, renewed interest in BTC ETFs, and macroeconomic factors like the debasement trade are all contributing to Bitcoin’s surge toward $68,000. Bitcoin ETFs are playing a pivotal role in this rally, attracting increased inflows and clearing key technical levels as investors seek exposure to Bitcoin in traditional financial markets. Payments processor Stripe is ‘engaged in exclusive negotiations’ regarding the acquisition of the stablecoin fintech platform Bridge and Trump’s WLFI token only raised $12.5 million by the time of writing – much less than his intended goal.   The crypto market remains in the greed territory today, with the Crypto Fear & Greed Index decreasing from 73 to 71. Bitcoin (BTC) has shown positive momentum, trading above $68,000 in the past 24 hours. Despite recent fluctuations, the overall market sentiment leans towards greed.   Quick Market Updates  Prices (UTC+8 8:00): BTC: $67,618, +0.81%; ETH: $2,611, +0.14% 24-hour Long/Short: 50.7% / 49.3% Yesterday’s Fear and Greed Index: 71 (73 24 hours ago), level: Greed Crypto Fear & Greed Index | Source: Alternative.me   Read More: Ethereum’s Future, Bitcoin's Price Surge, and Q3 Insights: Crypto Market Flatlines at $2.3 Trillion: Oct 15   Trending Tokens of the Day  Top 24-Hour Performers    Trading Pair    24H Change AIC/USDT      +16.78% BTC/USDT      +0.52% CRAI/USDT  +7.84%   Trade now on KuCoin   Quick Take on the Highlights in the Crypto Space for Oct. 17 Trump’s probability of being elected president on Polymarket rose to 60.5%, a record high. Musk donated $75 million to support Trump. Trump’s family crypto project $WLFI updated token terms: non-transferable within one year, no plans to create a secondary market currently. Also, Trump’s son will attend the Bitcoin MENA Summit.  Crypto exchange Kraken launched re-staking on the Ethereum-based protocol EigenLayer. Stripe is in advanced talks to acquire Bridge, a fintech company focused on stablecoins Stripe is in talks to acquire Bridge, a Fintech Company Focused on Stablecoins Payments processor Stripe is ‘engaged in exclusive negotiations’ regarding the acquisition of the stablecoin fintech platform Bridge – a move that could signify an even greater foray into the ever-expanding alternative payments technology market.    Last month, Bridge completed a Series A funding round and raised $40M, where Sequoia Capital was the lead investor. The company has developed a platform that allows creation, custody and exchange of stablecoins including GUSD and USDC.   With the increasing use of stablecoins as a means of payment, Stripe had also begun to execute stablecoin transfers. In the previous week, the company revealed that merchants in the USA would be able to process cryptocurrency payments for the USDC stablecoin, having not ventured into the digital tokens market for nearly six years.   Italy Considers Raising Bitcoin Capital Gains Tax to 42% in 2025 The Italian government is contemplating a significant increase in the capital gains tax on Bitcoin, potentially raising it from 26% to a steep 42% by 2025. Deputy Economy Minister Maurizio Leo made the announcement during a press conference at Palazzo Chigi on October 16, where he discussed Italy’s new budget bill recently approved by the Council of Ministers.   According to Leo, this proposal to raise the withholding tax on Bitcoin profits is part of the broader changes included in the budget bill. He also noted the removal of the minimum revenue threshold for Italy's "web tax" or Digital Services Tax (DST), which has applied to companies earning at least 750 million euros annually and 5.5 million euros from digital services in Italy.    This potential tax hike follows Italy's decision in late 2022 to increase the capital gains tax on crypto trades exceeding 2,000 euros to 26%, a move made as part of the 2023 budget.   Trump’s Crypto Platform Token Sale Misses Mark, Raising Only $10 Million World Liberty Financial’s website shows its WLFI token is far under the $300 million goal it set for public sale. Source: World Liberty Financial The Trump family’s new crypto platform, World Liberty Financial (WLFI), faced a rocky start with its token sale on October 15, raising only 3.4% of its $300 million goal on the first day. The WLFI token, priced at 1.5 cents each, had 20 billion tokens available for public sale, but only over 837  million, roughly $12.5 million worth, were sold at the time of writing.   Despite the platform claiming to have 100,000 sign-ups before launch, Etherscan data  revealed only 6,832 unique wallets holding the WLFI token. Compounding the disappointing sales, the platform’s website crashed due to overwhelming traffic, rendering it unavailable for several hours.   Donald Trump, the project’s "Chief Crypto Advocate," took to social media on October 15 to promote the token sale, saying, “Crypto is the future, let’s embrace this incredible technology and lead the world in the digital economy.” His sons, Eric, Barron, and Donald Jr., are also listed as "Web3 Ambassadors" for the project.   Bitcoin Reaches New Record: Market Attention Pushed the Price Up To $68,323. Is a Major Breakout Approaching? The most popular virtual currency in the world, Bitcoin (BTC), unusually increased to $68,323  on 16th October 2024. It has been 80 days since we saw a similar price level on June 7th. So, what’s behind this sudden surge? Most people point to a BlackRock’s Q3 earnings call that took place about 2 days earlier. As Bitcoin price approaches the $70,000 mark, for some experts it is no longer far fetched to consider the possibility of a major breakout soon.   Within the past week, Bitcoin appeared to be on the longer path towards the piece of $68,323  last week it has reached in nearly 3 months. This increase is impressive because this is the first time that there has been such a strong confidence coming from the market given that earlier in the year the market had been a bit shaky. On October 16th, Bitcoin was in a very strong bullish trend mainly fueled by strong growing institutional demand, a healthy state of the economy, and positive structures in the charts.   A majority of such rally appears to be tracing its roots to the BlackRock Q3 earnings report and the recent talk of their intentions to increase towards the crypto market. For quite a number of months, there has been a watchful eye on BlackRock, and their persistent foray into digital assets is ensuring that there is hope.   Source: KuCoin BTC Price Last 24 Hrs    Read More: Crypto Surpasses $67,000, Tesla Moves $770 Million BTC, Bitcoin ETFs Surge and More: Oct 16   Conclusion In summary, the convergence of political events, renewed interest in Bitcoin ETFs, and macroeconomic factors are fueling Bitcoin’s upward trend towards $68,000. Bitcoin ETFs are playing a central role in this rally, with significant inflows pushing prices higher as investors seek traditional market exposure to BTC. Meanwhile, Stripe’s acquisition talks with Bridge underscore the increasing mainstream adoption of crypto payment technologies. Additionally, Trump’s WLFI token sale fell short of expectations, and Italy considers a steep Bitcoin tax hike. These events illustrate the evolving landscape and growing institutional interest in digital assets.

The status of the cryptocurrency market keeps changing very rapidly in October while BTC surpasses $67,000 today. Tesla decided to move $770 million BTC to multiple different wallets today. Milestones have been reached by Bitcoin ETFs, Ripple has ventured into stablecoins, there is increasing institutional demand, and mainstreaming is on the increase. The purpose of this article is to analyze the recent advances in Bitcoin exchange-traded funds, stablecoin initiatives of Ripple, and the growth of the cryptocurrency markets in general. The pace of change that these trends represent suggests adoption and assimilation of cryptocurrencies into mainstream finance.   The crypto market remains in the greed territory today, with the Crypto Fear & Greed Index increasing from 65 to 73. Bitcoin (BTC) has shown positive momentum, trading above $67,000 in the past 24 hours. Despite recent fluctuations, the overall market sentiment leans towards greed.   Quick Market Updates  Prices (UTC+8 8:00): BTC: $67,071, +1.49%; ETH: $2,607, -0.85% 24-hour Long/Short: 50.1% / 49.9% Yesterday’s Fear and Greed Index: 73 (65 24 hours ago), level: Greed Crypto Fear & Greed Index | Source: Alternative.me   Read More: Ethereum’s Future, Bitcoin's Price Surge, and Q3 Insights: Crypto Market Flatlines at $2.3 Trillion: Oct 15   Trending Tokens of the Day  Top 24-Hour Performers    Trading Pair    24H Change HOOK/USDT      +2.81% SUI/USDT      -7.31% AEVO/USDT  +0.41%   Trade now on KuCoin   Industry Highlights Fed’s Bostic: Expected to cut rates by another 25 basis points this year, following the 50 basis points cut in September. Trump family’s crypto project WLFI latest sales: $9.66 million. Tesla transferred all its Bitcoin worth over $770 million to multiple new addresses. Paxos launched a stablecoin payment platform. Ripple announced the first batch of exchanges and platform partners for the RLUSD stablecoin. Tesla Moves $770 Million in BTC to Multiple New Addresses Today Tesla, the electric car manufacturer run by Elon Musk, moved 11509 bitcoins worth around $770 million dollars to new addresses, states onchain data provided by analytics group Arkham Research. This most likely is all that is left from the company’s bitcoin treasury.   In the last hour, the firm which previously made a historical $1.5 billion into bitcoin halfway through February 2021 has transferred around $770 million in bitcoin to approximately 7 new wallets. These movements of tokens were the tracks of what appears to be six bogus transfers, making it the first direct movement from Tesla wallets since it offloaded most of its bitcoin holdings in 2022.   As of Oct. 15, Bitcoin had a cumulative value of approximately 9,720 BTC valued at approximately 650 million dollars, a sharp downturn from the 43,000 BTC it previously held BTC-value. On the other hand, Arkham hive believes that there are up to 11,509 BTC within 68 different Bitcoin addresses worth 770 million at the rate today. Musk's space flight company is expected to have an extra 8,285 Bitcoin assets according to the estimates of BitcoinTreasuries.   Among publicly traded BTC holders organizations, Tesla ranks third after MicroStrategy and MARA (formerly Marathon Digital). Models manufactured by the electric vehicle producer are paid for in bitcoins.   Bitcoin ETFs: A Record-Breaking Surge The cryptocurrency market is evolving rapidly, marked by significant developments in Bitcoin exchange-traded funds (ETFs) and Ripple’s stablecoin initiatives. On October 14, US-based spot Bitcoin ETFs experienced a remarkable surge, recording net inflows of $555.9 million. This influx represents the largest single-day inflow since June, signaling increasing institutional interest in Bitcoin as a viable investment asset. Fidelity's ETF led the charge with $239.3 million in new capital, while Bitwise followed closely with over $100 million. Additionally, Franklin Templeton and Valkyrie reported their first inflows for October, along with the Grayscale Bitcoin Trust (GBTC) and its mini GBTC fund. According to ETF Store President Nate Geraci, this day was a "monster day" for Bitcoin ETFs, with total net inflows approaching $20 billion over the past ten months. This growth not only surpasses pre-launch demand estimates but also indicates a shift in investor behavior toward greater participation from financial advisors and institutional investors. Daily Bitcoin ETF inflows (green) on Oct. 14 were the highest since June. Source: CoinGlass   Read More: MicroStrategy Eyes Trillion-Dollar Valuation, WLFI Token Sale Approaches, and Bitcoin Search Volume Drops to Yearly Low: Oct 14   Ripple’s RLUSD: The Future of Stablecoins In another significant development, Ripple announced partnerships with several prominent exchanges to facilitate the distribution of its upcoming RLUSD stablecoin. Partners include Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish. Ripple's CEO Brad Garlinghouse emphasized that there has been strong demand from customers for high-quality stablecoins like RLUSD to support various financial applications such as payments, asset tokenization, and decentralized finance (DeFi).    Ripple CEO Brad Garlinghouse, who wrote in an Oct. 15 announcement:   “Customers and partners have been asking for high-quality stablecoins like RLUSD to use across various financial use cases, such as payments, tokenization of real-world assets, and decentralized finance.”   The RLUSD stablecoin is designed to be an enterprise-grade solution that will be overcollateralized, meaning each unit will be backed 1:1 by US dollar reserves or short-term cash equivalents. Ripple has already deployed RLUSD for testing on both the XRP Ledger and Ethereum mainnets since August 9. The company plans to leverage RLUSD alongside its existing XRP token to facilitate faster and more cost-effective cross-border payments.   Conclusion Bitcoin ETFs have pulled in record inflows, Ripple’s RLUSD stable coin is on the rise, and the market continues to mature. Furthermore, Tesla moved 11509 bitcoins worth around $770 million dollars to new addresses. There is definitely rising institutional interest in the space, new innovations are coming forth, and digital assets are becoming embedded within the conventional economy. The situation of cryptocurrency seems favorable, with better chances for investments and greater acceptance in this circle. As always, investors should remain cautious in navigating both opportunities and risks in this dynamic market. Stay tuned to KuCoin news for the latest trends and updates.

The crypto market experienced an upswing today led by major tokens such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). The global market capitalization increased by 1.8%, reaching approximately $2.23 trillion. Bitcoin surged past $66,000, showing significant price momentum. Ethereum co-founder Vitalik Buterin also shared insights on Ethereum's progress after the Merge, discussing opportunities for further improvement. These developments reflect growing optimism and positive trends in the crypto market.   The crypto market is in the greed territory today, with the Crypto Fear & Greed Index increasing from 48 to 65.  Bitcoin (BTC) has shown positive momentum, trading above $66,000 in the past 24 hours. Despite recent fluctuations, the overall market sentiment leans towards greed.   Quick Market Updates  Prices (UTC+8 8:00): BTC: $66,087, +5.11%; ETH: $2,630, +6.53% 24-hour Long/Short: 52.1%/47.9% Today’s Fear and Greed Index: 65 (48 24 hours ago), level: Greed   Crypto Fear & Greed Index | Source: Alternative.me   Read More: MicroStrategy Eyes Trillion-Dollar Valuation, WLFI Token Sale Approaches, and Bitcoin Search Volume Drops to Yearly Low: Oct 14   Trending Tokens of the Day  Top 24-Hour Performers    Trading Pair    24H Change SUI/USDT      +0.18% SOS/USDT  +41.07% BTC/USDT  +5.00%   Trade now on KuCoin   Industry Highlights Fed’s Kashkari suggests that additional “moderate” rate cuts are advisable.   Tether is considering offering loans to companies in the commodity trading sector.   Deutsche Bank will offer foreign exchange services to the crypto market maker Keyrock.   Telegram plans to establish an office in Kazakhstan to enhance its regulatory compliance efforts.   HashKey is set to launch a tokenization initiative next year.   The Bitcoin staking platform Solv Protocol has secured $11 million in funding, with investors such as Laser Digital and Blockchain Capital, and is now valued at $200 million.  Vitalik Buterin Reflects on Ethereum’s Post-Merge Future Vitalik Buterin shared thoughts on Ethereum’s potential upgrades in a blog post on Oct. 14. He focused on faster transaction speeds and better access for solo stakers. After the Merge, which moved Ethereum to proof-of-stake, the network still takes up to 15 minutes for transactions. This causes delays and congestion. Due to the current staking barriers, Buterin wants to reduce the staking requirement from 32 ETH to 1 ETH, which could help more people participate in securing the network.     Bitcoin’s Price Surge and Market Movements On Oct. 14, Bitcoin jumped above $64,000, leading to more than $100 million in liquidations. Bitcoin hit a high of $64,173, its best level since late September. This price spike forced the liquidation of over $101.4 million in short positions, including $52.33 million in Bitcoin shorts. Overall, 54,649 traders were liquidated for $166 million.   Bitcoin’s rise reflects growing positive market sentiment. It gained 2.1% in the last 24 hours and reclaimed the $64,000 range after weeks of trading lower. This movement pushed Bitcoin’s dominance back to over 58%, a level not seen since April 2021. Ethereum also saw a boost, hitting a two-week high of $2,540 after gaining 2.9%.   Bitcoin short sellers made up over half of the short liquidations in the past 24 hours. Source: CoinGlass   Coingecko Q3 2024 Report: Key Market Trends Coingecko’s Q3 2024 report showed that the global crypto market cap dropped 1%, losing $95.8 billion. However, decentralized finance (DeFi) and NFTs continued to grow. Prediction markets saw a 565.4% increase, led by Polymarket. Ethereum layer two (L2) networks also grew by 17.2%, with the Base network making up 42.5% of that activity. Memecoins are  the top-performing digital asset sector in 2024, driven by new token creation on Solana, Tron, and most recently, Sui. The Sui memecoin space is among the most trending, following Solana memecoins and Tron memecoins in the crypto market lately.    CoinGecko’s Q3 report emphasizes a market characterized by resilience and changes in dominance. The evolving landscape of exchanges reveals ongoing competition among key players, indicating that innovation and adaptability will shape the future of the cryptocurrency sector.   Source: CoinGecko   Coingecko’s COO and co-founder, Bobby Ong stated, “In the final quarter of 2024, we’ll closely monitor geopolitical and macroeconomic factors—particularly the U.S. Presidential Elections and Fed monetary policy decisions—unfold.”   Read more: Memecoins Surge, Upbit Under Fire for Monopoly Concerns, and More: Oct 11   Conclusion: Bitcoin’s Volatility and Investment Considerations Bitcoin’s rise above $66,000 shows how quickly its price can change. While its performance is impressive, it remains highly volatile. If you plan to invest in Bitcoin, only put in money you’re comfortable losing. Diversifying your investments can help reduce the impact of Bitcoin’s fluctuations.  As detailed in Coingecko's Q3 report, the broader market has faced fluctuations, with a slight decrease in market capitalization alongside notable growth in decentralized finance and NFTs. The changing dynamics within major exchanges also reflect the competitive nature of this space.   In summary, the cryptocurrency landscape is marked by both opportunities and challenges. If you’re looking to invest, stay informed about market trends, and always prioritize risk management by diversifying your portfolio. As always, investors should remain cautious in navigating both opportunities and risks in this dynamic market. Stay tuned to KuCoin news for the latest trends and updates.