By Shikha Singh
Bitcoin Bounces 7% Above $63K as Crypto Traders Eye China Stimulus Statement.
After falling below $59,000, cryptocurrencies, headed by Bitcoin (BTC), rose above $63,000 on Friday. Major cryptocurrencies like Solana and Avalanche gained 6-8%, while Uniswap fell.
The stock market reached historic highs as crypto prices rose. Bitcoin-related stocks improved, with MicroStrategy up 16%.
An imminent Chinese fiscal policy update is expected to affect crypto markets, say analysts. A robust U.S. economy boosts cryptocurrency risk appetite.
Bitcoin Reserves On Exchanges Plunge To All-Time Low, Fundamentals Remain Strong.
Key on-chain measures reveal robust fundamentals despite Bitcoin’s latest price dip 287 days post-halving. Bitcoin exchange reserves have dropped to an all-time low, showing investors prefer to keep their BTC, according to analyst TheLordofEntry.
High transaction volumes and active addresses indicate activity. Derivatives market leverage has also decreased.
Long-term Bitcoin holders accumulate, while short-term holders sell. These patterns indicate bullish long-term trends, even as Bitcoin struggles to sustain momentum since March’s $73,700 top. In the previous 24 hours, BTC has dropped 1.6% to $62,600, lowering the crypto market value.
Vitalik Buterin Dumps Popcat And Other Meme Coins, Makes $2.24 mn.
Vitalik Buterin, Ethereum co-founder, sold free meme coins for 908.77 ETH, or $2.24 million.
His biggest selling was 10 billion MOODENG coins for 395.96 ETH ($976,000). Other sales included 200,000 MSTR for 93.23 ETH and 500 million EBULL for 73.79.
Buterin accepts meme coins that give to charity and donates them. He’ll provide anti-airborne sickness technologies 10 billion Moodeng tokens.
Ripple Accelerates Stablecoin Launch With 3.5 mn RLUSD Transfer.
As Ripple tests its beta stablecoin RLUSD for stability and security, demand is high. Recent reports reveal RLUSD burning, minting, and transfer. Executives from Ripple predict a debut by year’s end.
An Ethereum blockchain transaction of 3.5 million RLUSD may indicate beta testing is progressing.
Arkham’s Token Soars 16% on Report Sam Altman-Backed Crypto Firm Plans Derivatives Exchange.
After news of a retail-focused crypto derivatives market, Arkham Intelligence’s token (ARKM) rose 16% on Friday. The platform was launched in the Dominican Republic after the corporation moved from London and New York.
CEO Miguel Morel confirmed the action but did not discuss the exchange. The futures market outpaced the spot market last month with $3 trillion in trading activity, notwithstanding the FTX crash.
Sam Altman and Peter Thiel invested $12 million in Arkham. In its on-chain intelligence marketplace, its reward token has a $420 million market valuation. The company also sponsored Galatasaray to raise brand awareness.
NFT Sales Drop to $77.6 mn, Bitcoin Network Leads In Weekly Surge.
Over the preceding week, NFT sales fell 4.16% to $77.6 million. NFT sellers declined 67.87% to 121,399. Buyers plummeted 66.81% to 263,804. Transactions fell 13.78% to 1,662,101.
Ethereum tops sales with $26.5 million, including $2.7 million in wash trading, followed by Bitcoin at $15.6 million, up 23.11%. Solana is third with $10.5m.
DMarket sells the most NFTs, $8.02 million, followed by Guild of Guardians Heroes at $3.02 million and Bitcoin Puppets at $2.97 million. The $1.43 million Bored Ape Yacht Club #7940 and $79,729 Axie Infinity were notable transactions.
Bored Ape Yacht Club NFT Sells for $1.43 mn as FTX Assets Resurface.
For 588 ETH ($1.43 million), Floor Protocol creator FreeLunchCapital bought Bored Ape Yacht Club NFT #7940, making headlines. Previous owner FTX possessed this golden NFT.
The October 11 transaction spurred crypto community debates, with FreeLunchCapital expressing a personal grievance against FTX. This transaction occurs as FTX intends to refund $16.5 billion in 60 days.
The NFT market, which peaked at over $3 billion in 2021 but has plummeted below $100 million, may revive with the acquisition.
Bitget Launches Telegram App Centre, Featuring Over 600 TON Trending Mini-Apps.
The Telegram App Centre, introduced by Bitget, offers over 600 mini-apps to find airdrops, trending groups, and play-to-earn activities. Trading with innovative apps is easier with this approach.
Over $425 million in Total Value Locked supports Telegram’s fast growing network of almost 1 billion users. The hub makes Bitget a crucial entry point for Web3 decentralized apps.
Launch supports Bitget’s larger engagement in the TON ecosystem, including preferential listings for prominent tokens and considerable financing for early-stage businesses.
Off The Grid, Battle Royale Game With Planned Crypto Features, Nabs #1 Slot On Epic Games Store.
Cyberpunk battle royale game “Off The Grid,” outranked Fortnite and Genshin Impact on the Epic Games Store as the #1 free-to-play game. Neil Blomkamp co-created it, and Ninja and Dr. Disrespect have promoted it on Twitch.
The game uses Gunzilla’s testnet blockchain subnet GUNZ for its digital economy. The GUN token is used for transactions, and NFTs will allow full item ownership.
Gunzilla will let other studios use its SDK and marketplace. Ava Labs CEO Emin Gün Sirer commended the game’s development, demonstrating Avalanche’s capacity to accommodate complicated use cases.
Trump-Supported World Liberty Financial Will Start Public Token Sale Next Week.
The Trump family-backed decentralized finance (DeFi) technology World Liberty Financial will begin a token sale on October 15, three weeks before the presidential election. The public auction is for whitelisted applicants.
The project, led by Zachary Folkman and Chase Herro, is valued at $1.5 billion and seeks $300 million. WLFI, the governance token, lets holders vote on protocol proposals.
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