🚀 New User Bets $2 Million On Vice President Harris Winning Presidential Election
#VicePresidentHarris #PresidentialElection #Betting #Cryptocurrency #Polymarket #Trump #ElectionPredictions
According to Odaily, a new user named Ly67890 has placed a $2 million bet on the cryptocurrency prediction market Polymarket, supporting Vice President Harris to win the presidential election. This significant wager has quickly increased her winning probability on the platform, making Ly67890 the top bettor predicting Harris's victory.
Additionally, another user, Fredi9999, who joined the platform in June, has placed a total of $13 million in bets predicting Trump's victory. Fredi9999 has also participated in several other election-focused markets.#VicePresidentHarris #PresidentialElection #Betting #Cryptocurrency #Polymarket #Trump #ElectionPredictions
🚀 Hong Kong's Bitrace Releases 2024 Web3 Anti-Fraud Handbook
#HongKong #Bitrace #Web3 #AntiFraud #Handbook #Crypto #Fraud #Investors #RegulatoryTechnology
According to Foresight News, Hong Kong regulatory technology company Bitrace has released the '2024 Web3 Anti-Fraud Handbook.' The handbook is based on numerous real-world investigations into crypto fraud cases and provides detailed explanations of prevalent fraud techniques. It aims to assist individual investors and outsiders in identifying and avoiding crypto fraud to prevent asset loss. Additionally, it seeks to help institutional investors and OTC traders recognize crypto funds associated with fraudulent activities, thereby preventing the freezing of business addresses or bank accounts by law enforcement authorities.#HongKong #Bitrace #Web3 #AntiFraud #Handbook #Crypto #Fraud #Investors #RegulatoryTechnology
🚀 Austria's $16 Million Crypto And Real Estate Ponzi Scheme Leads To Sentencing
#Austria #PonziScheme #Cryptocurrency #RealEstate #Fraud #Sentencing #Crime #Klagenfurt #Victims #LuxuryLifestyle
According to PANews, a $16 million cryptocurrency and real estate Ponzi scheme in Austria has resulted in the sentencing of five individuals. The scheme defrauded 40,000 victims, with the perpetrators spending large sums on luxury cars, private jets, nightclubs, and even a shark tank. The case, tried over 60 days in the Klagenfurt Regional Court, is one of Austria's largest fraud cases to date. Eleven suspects from Austria, Croatia, and Italy were involved, including the 24-year-old stepson of an unnamed celebrity, who reportedly spent €100,000 (approximately $108,000) on sex services. Police revealed that the criminal group used plastic bags to transport cash, hid money in shoeboxes, and transferred funds through crypto platforms, making it extremely difficult to trace the money. Currently, five suspects have been sentenced to prison terms ranging from 18 months to five years, while five others have been acquitted.#Austria #PonziScheme #Cryptocurrency #RealEstate #Fraud #Sentencing #Crime #Klagenfurt #Victims #LuxuryLifestyle
🚀 Crypto Market Sees Second-Largest Liquidation Day In October
#CryptoMarket #Liquidation #Bitcoin #Ethereum #ETH #BitcoinETF #CryptoInvestors #MarketVolatility #Cointelegraph #OnchainData #BTC
According to Cointelegraph, crypto bulls who anticipated a continued market rise experienced the second-largest day of liquidations in October. The market has now stabilized after Bitcoin's drop affected the prices of major cryptocurrencies. On October 23, total crypto liquidations reached $261 million, with over $203.5 million coming from long bets. This is second only to the $450.8 million worth of crypto longs liquidated on October 1 when Bitcoin (BTC) dropped by around 5%, according to CoinGlass data.
Ether (ETH) long bets faced the biggest liquidation, with over $77 million wiped out in the last 24 hours, followed by approximately $58.3 million in Bitcoin call options. Traders were optimistic that Bitcoin could continue to rise as its price neared $70,000 on October 21, its highest in three months. However, it failed to sustain momentum and fell to a low of $65,500 on October 23 before recovering to $67,386, up 0.5% over 24 hours.
ETH posted the biggest loss among the top ten cryptocurrencies, down 1.7% on the day to $2,552, falling from a 24-hour high of $2,620. It had climbed to a two-month high of $2,750 on October 21 before its decline. Onchain data indicates that Ethereum's high transaction fees are discouraging activity on the blockchain, reducing the demand for ETH staking and potentially dampening investor optimism.
Despite Bitcoin's volatile day, institutional investors remained undeterred. The 11 United States-based spot BTC exchange-traded funds (ETFs) saw a joint net inflow on October 23, as reported by CoinGlass. The funds collectively saw $198.5 million in net inflows, driven by a $323.6 million inflow to BlackRock’s iShares Bitcoin Trust ETF (IBIT). However, this was offset by outflows of $99 million and $25.2 million from the ARK 21Shares Bitcoin ETF (ARKB) and the Bitwise Bitcoin ETF (BITB), respectively.
The US Bitcoin ETFs experienced a seven-trading day inflow streak from October 11 to October 21, during which nearly $2.7 billion was added to the funds. However, an $87.9 million net outflow on October 22 broke the streak.#CryptoMarket #Liquidation #Bitcoin #Ethereum #ETH #BitcoinETF #CryptoInvestors #MarketVolatility #Cointelegraph #OnchainData #BTC
🚀 Beige Book Fuels Speculation Of Fed Rate Cuts In November And December
#BeigeBook #FederalReserve #RateCuts #Bitcoin #EconomicOutlook #Inflation #JobsReport #DollarIndex #ForexLive #MonetaryPolicy #BTC
According to CoinDesk, Bitcoin has surged above $67,000 following the Federal Reserve's latest Beige Book survey, which presented a subdued economic outlook and strengthened the case for potential rate cuts in the coming months.
The Beige Book report, released on Wednesday, indicated that nine out of twelve regional banks reported stagnant or slightly weak economic activity since early September. The report highlighted a decline in manufacturing activity and signs of moderation in consumer demand across most districts.
Inflation, or the cost of living, showed signs of moderation as selling prices increased slightly or modestly in most districts. Employment saw a slight increase, with hiring primarily focused on replacement rather than growth. Additionally, several districts noted slower wage increases.
Overall, the sluggish economic outlook contrasts with the hotter-than-expected September jobs report, paving the way for further rate cuts by the Federal Reserve. Bitcoin has rebounded from overnight lows under $53,500 to trade 1% higher at $67,300 at press time. Meanwhile, the dollar index (DXY) rally has stalled, pulling back to 104.30 from an overnight high of 104.57, according to TradingView data.
ForexLive noted that the Beige Book comments captured market attention and solidified the belief that another 25 basis points cut is likely in November, with a high chance of an additional cut in December. The dollar's turn was observed across the board following the report.
Several Federal Reserve officials, including Chairman Jerome Powell, cited the Beige Book's dour outlook as a reason for cutting the benchmark borrowing cost by 50 basis points to the 4.75%-5% range in September. Markets quickly priced in an additional 75 basis points of easing by the year's end. However, these hopes were tempered by the upbeat September jobs data and the hotter-than-expected September inflation report.#BeigeBook #FederalReserve #RateCuts #Bitcoin #EconomicOutlook #Inflation #JobsReport #DollarIndex #ForexLive #MonetaryPolicy #BTC
🚀 Vitalik Buterin Proposes Selective Gas Fee Reductions for Ethereum
#VitalikButerin #Ethereum #GasFees #EVM #Blockchain #TransactionsPerSecond #Efficiency #Crypto #ETH
According to Odaily, Ethereum co-founder Vitalik Buterin recently shared his thoughts on the X platform regarding gas fee reductions. Buterin suggested a deep yet selective approach to lowering gas fees, aiming to enhance the network's efficiency without compromising critical metrics.
Buterin proposed reducing the gas costs for all EVM opcodes currently in the 2-5 range to 1 and those in the 6-10 range to 2. Additionally, he recommended decreasing the gas cost of log operations by four times and lowering the gas costs for precompiled contracts, except for those planned for deprecation. He believes that these changes could potentially increase the transactions per second (TPS) by 1.5 times without negatively impacting key worst-case scenario metrics such as calldata size and IO.#VitalikButerin #Ethereum #GasFees #EVM #Blockchain #TransactionsPerSecond #Efficiency #Crypto #ETH
🚀 Moonshot Platform Sees Significant Revenue Growth In Past Month
#Moonshot #RevenueGrowth #MonthlyIncrease #ActiveUsers #PANews
According to PANews, Moonshot platform has generated $498,000 in revenue over the past 30 days, marking a 1657% month-over-month increase. The platform currently has approximately 4,000 daily active independent users.#Moonshot #RevenueGrowth #MonthlyIncrease #ActiveUsers #PANews
🚀 Flow Traders Transfers 2.887 Million BAT to Grayscale
#FlowTraders #BAT #Grayscale #BasicAttentionToken #CryptoTransaction #MarketMaker
According to BlockBeats, on October 24, market maker Flow Traders transferred 2.887 million Basic Attention Tokens (BAT) to Grayscale. The transaction, monitored by Arkham, occurred three minutes prior to the report and is valued at approximately $498,000.#FlowTraders #BAT #Grayscale #BasicAttentionToken #CryptoTransaction #MarketMaker
🚀 BlueMove Secures Strategic Investment From Victus Capital
#BlueMove #VictusCapital #NFT #cryptoinvestment #multichain
According to Odaily, BlueMove, a multi-chain NFT marketplace based on the Move language, has announced that it has secured strategic investment from the crypto hedge fund Victus Capital. The specific amount of the funding has not been disclosed.#BlueMove #VictusCapital #NFT #cryptoinvestment #multichain
🚀 Ethereum's Next Upgrade 'The Verge' To Enhance Security And Accessibility
#Ethereum #TheVerge #VitalikButerin #blockchain #security #accessibility #statelessverification #VerkleTrees #quantumcomputing #EIP4762 #gasfees #scalability #solostaking #ETH
According to Cointelegraph, Ethereum co-founder Vitalik Buterin has outlined plans for the network’s upcoming upgrade, known as 'The Verge.' This update aims to enhance Ethereum's security and accessibility, enabling nodes to operate on devices as small as a phone or smartwatch.
The Verge seeks to reduce hardware requirements through 'stateless verification,' allowing nodes to verify blockchain blocks without storing large amounts of data. One of Ethereum’s growing challenges is the increasing data size needed to operate a node, currently requiring hundreds of gigabytes of state data, as noted by research from Paradigm. Stateless verification will make fully verifying the chain computationally affordable, so that every mobile wallet, browser wallet, and even smartwatch can do it by default. This shift means Ethereum nodes will no longer need to store the entire blockchain, lowering technical barriers for users, including solo stakers.
In his blog post, Buterin explained that The Verge initially focused on implementing Verkle trees, a cryptographic structure designed to reduce proof sizes and enable stateless validation. However, he acknowledged concerns about Verkle tree vulnerability to quantum computing. Developers are considering Scalable Transparent Arguments of Knowledge (STARK)-based binary hash trees, which offer a better long-term outlook for security and scalability against quantum threats.
The Verge also proposes changes to the network’s gas cost system under Ethereum Improvement Proposal (EIP)-4762 in preparation for stateless verification. This change would adjust gas fees for resource-heavy cryptographic operations to ensure network scalability and security while incorporating what Buterin calls 'multidimensional gas.' This new concept separates gas costs for calldata, computation, and state accesses, offering improved management of Ethereum’s resources amid the upgrade’s focus on reducing hardware requirements. By enabling node operation on smaller devices with these proposed changes, Buterin aims to make solo staking more viable and accessible.#Ethereum #TheVerge #VitalikButerin #blockchain #security #accessibility #statelessverification #VerkleTrees #quantumcomputing #EIP4762 #gasfees #scalability #solostaking #ETH
🚀 Bitcoin(BTC) Surpasses 67,000 USDT with a 0.47% Increase in 24 Hours
#Bitcoin #BTC #USDT #Binance #cryptocurrency #trading #marketdata
On Oct 24, 2024, 08:49 AM(UTC). According to Binance Market Data, Bitcoin has crossed the 67,000 USDT benchmark and is now trading at 67,012.539063 USDT, with a narrowed 0.47% increase in 24 hours.#Bitcoin #BTC #USDT #Binance #cryptocurrency #trading #marketdata
🚀 October Cryptocurrency Market Performance Falls Short Of Expectations
#Cryptocurrency #MarketPerformance #Bitcoin #Ethereum #OptionsMarket #Volatility #TradingVolume #CapitalInflows #InterestRateCuts #Elections #BTC #ETH
According to BlockBeats, on October 24, Greeks.live researcher Adam shared insights on social media regarding the upcoming monthly expiration date for October. He noted that the overall performance of the cryptocurrency market in October has not met expectations. The anticipated election and interest rate cuts have not brought significant positive news or capital inflows to the cryptocurrency sector.
During the election week, implied volatility (IV) remained at 55%. Earlier options were affected by rollovers, leading to a noticeable decrease in IV. Additionally, there has been a significant increase in large-scale options transactions, with 40% of daily trading volume now coming from these large trades.
In the current options market, Bitcoin's dominance has returned to levels seen in 2021, which is directly related to the weakness of Ethereum. As a result, market indicators now primarily focus on Bitcoin data.#Cryptocurrency #MarketPerformance #Bitcoin #Ethereum #OptionsMarket #Volatility #TradingVolume #CapitalInflows #InterestRateCuts #Elections #BTC #ETH
🚀 Bitcoin Futures Open Interest Declines on CME Platform
#Bitcoin #Futures #OpenInterest #CME #Cryptocurrency #BTC
According to BlockBeats, data from Coinglass on October 24 indicates that the open interest in Bitcoin futures on the CME platform decreased by 4.15% over a four-hour period, currently standing at 164,500 BTC.
At present, the total open interest across all platforms is approximately 576,800 BTC, reflecting a 0.49% decline over the past 24 hours.#Bitcoin #Futures #OpenInterest #CME #Cryptocurrency #BTC
🚀 Portofino Technologies Faces Significant Staff Turnover Amid Executive Changes
#PortofinoTechnologies #StaffTurnover #ExecutiveChanges #Cryptocurrency #MarketMaking #FinancialConductAuthority #InstitutionalClients #UK #CFO #Recruitment #Workforce
According to PANews, Swiss-based cryptocurrency market-making firm Portofino Technologies received approval from the UK's Financial Conduct Authority (FCA) earlier this year to serve institutional cryptocurrency clients in the UK. However, the company has experienced significant staff turnover in recent months following the dismissal of its co-founders and Chief Financial Officer (CFO).
In July, Portofino's Chief Operating Officer (COO) and co-founder Alex Casimo, along with CFO Jae Park, were both dismissed. This led to the resignation of several key personnel, including Vincent Prieur, Head of Strategy and Operations, and Shane O'Callaghan, Head of Global Business Development, as well as a substantial number of other employees. Sources indicate that since the dismissal of these executives, 10 to 12 employees have either left or are in the process of leaving, accounting for 30%-40% of the company's total workforce at that time.
A spokesperson for Portofino Technologies stated that the company has since hired a new CFO, Mark Blackborough, and Senior Sales Trader, Olivier Sultan. The firm has been actively recruiting and currently has four open positions. The spokesperson also mentioned that the number of employees has returned to the levels seen during the summer.#PortofinoTechnologies #StaffTurnover #ExecutiveChanges #Cryptocurrency #MarketMaking #FinancialConductAuthority #InstitutionalClients #UK #CFO #Recruitment #Workforce
🚀 Zhu Su Compares Solana Meme Coins To 2017 Ethereum ICO
#ZhuSu #Solana #MemeCoins #Ethereum #ICO #Crypto #2023 #SOL #ETH
According to Odaily, Zhu Su recently shared his thoughts on the X platform, drawing a comparison between Solana's meme coins and Ethereum's ICO in 2017. He noted that the value accumulation of Solana's meme coins is best likened to the role Ethereum's ICO and ETH played in 2017. Zhu Su explained that while institutions may not have directly participated in the ICOs, they did purchase ETH, which allowed the ICOs to act as Ethereum's beta throughout the year.#ZhuSu #Solana #MemeCoins #Ethereum #ICO #Crypto #2023 #SOL #ETH
🚀 Validation Cloud Secures $10 Million Funding To Enhance AI And Web3 Data Access
#ValidationCloud #Funding #AI #Web3 #DataAccess #TrueGlobalVentures #CadenzaVentures #BlockchainFoundersFund #Bloccelerate
According to Odaily, Web3 data flow and infrastructure company Validation Cloud has announced a $10 million funding round from True Global Ventures. The company plans to use the funds to expand its AI products, aiming to provide seamless access to Web3 data.
Previously, Validation Cloud completed its first external funding round, raising $5.8 million. This round was led by Cadenza Ventures, with participation from Blockchain Founders Fund, Bloccelerate, and others.#ValidationCloud #Funding #AI #Web3 #DataAccess #TrueGlobalVentures #CadenzaVentures #BlockchainFoundersFund #Bloccelerate
🚀 Bitcoin's Potential Surge Linked To Gold Price Trends
#Bitcoin #Gold #Cryptocurrency #PriceTrends #MarketAnalysis #ETFs #Investment #FinancialNews #BullishMomentum #HistoricalData #BTC
According to PANews, traders looking to predict when Bitcoin might reach a new all-time high should consider gold price charts. Historical data from 2020 indicates that once gold's bullish momentum wanes, Bitcoin is likely to surge to new heights. In 2020, gold led Bitcoin higher, reaching an all-time high in August, followed by Bitcoin in December of the same year.
Since April, Bitcoin has fluctuated between $50,000 and $70,000, with various cryptocurrency-specific and macroeconomic factors limiting its upward movement. Meanwhile, gold prices have soared over 20% during the same period, reaching a new high above $2,700. Gold has risen 37% this year, while silver prices have increased by 43%, nearly hitting $35 on Tuesday, marking a 12-year high. This pattern mirrors the 2020 scenario where gold led Bitcoin's rise. Therefore, if past trends are any indication, a pause in gold's rally could pave the way for increased Bitcoin demand. However, it remains uncertain whether history will repeat itself, and as of now, gold shows no signs of an upward trend exhaustion or demand slowdown.
Over the past seven trading days, gold ETF products have seen inflows exceeding one million ounces, the highest since October 2022. During the same period, U.S. Bitcoin ETFs have recorded inflows of $2 billion. Additionally, the iShares Bitcoin Trust saw net inflows of $1.7 billion in the same timeframe. However, not all inflows are for direct holding; according to Sui Chung, CEO of crypto index provider CF Benchmarks, 60% of recent inflows are for direct holding, while the remaining 40% are for underlying trading.#Bitcoin #Gold #Cryptocurrency #PriceTrends #MarketAnalysis #ETFs #Investment #FinancialNews #BullishMomentum #HistoricalData #BTC
🚀 Dormant Bitcoin Address Activated After 13.3 Years
#Bitcoin #DormantAddress #CryptoNews #Blockchain #Investment #BTC
According to PANews, a Bitcoin address that had been inactive for 13.3 years was recently activated. The address holds 150 Bitcoins, which are currently valued at approximately $10.03 million. Back in 2011, the value of these Bitcoins was merely $2,540.#Bitcoin #DormantAddress #CryptoNews #Blockchain #Investment #BTC
🚀 BNB Surpasses 590 USDT with a 1.01% Increase in 24 Hours
#BNB #USDT #cryptocurrency #trading # Binance #marketdata #increase #october2024
On Oct 24, 2024, 10:32 AM(UTC). According to Binance Market Data, BNB has crossed the 590 USDT benchmark and is now trading at 590 USDT, with a narrowed 1.01% increase in 24 hours.#BNB #USDT #cryptocurrency #trading # Binance #marketdata #increase #october2024
🚀 Genesis Creditors Transfer 1,764 BTC Worth $117.86 Million
#Genesis #Creditors #BTC #Bitcoin #Transaction #Cryptocurrency
According to PANews, iChainfo monitoring has revealed that Genesis creditors transferred 1,764 BTC, valued at approximately $117.86 million, to an anonymous address. The transaction occurred 40 minutes prior to the report, moving the Bitcoin from address bc1qf5...s22jpj to address 1Fzzpx...mcqUE.#Genesis #Creditors #BTC #Bitcoin #Transaction #Cryptocurrency
🚀 Opti Games Secures $2 Million Funding Led By L1D
#OptiGames #funding #L1D #Sparkball #CMSHoldings #ImpossibleFinance #YieldGuildGames #SeasonZero
According to Foresight News, Opti Games, the developer behind Sparkball, has successfully raised $2 million in a funding round led by L1D. Other participants in the round include CMS Holdings, Impossible Finance, Yield Guild Games (YGG), and Monad. The funds will be utilized to support the launch of Season Zero of the game.#OptiGames #funding #L1D #Sparkball #CMSHoldings #ImpossibleFinance #YieldGuildGames #SeasonZero