By Shikha Singh
Bitcoiners are HODLing BTC Now More Than Ever, New Data From Glassnode Reveals.
Data from Glassnode shows an increase in Bitcoin (BTC) holders and a rising illiquid supply, reflecting strong bullish sentiment.
While long-term holder supply has grown, short-term supply and exchange balances are declining, indicating a shift toward self-custody.
Bitcoin reserves on centralized exchanges have dropped to 2.64 million, near all-time lows, suggesting investors prefer to hold their assets.
Institutional adoption has surged, with a 30% increase over the past year and 3% of all Bitcoin now held by institutions.
Additionally, Bitcoin-approved ETFs have seen positive inflows, totaling $273.71 million on October 18th, with net assets reaching $66.11 billion.
Sui Launches ‘Incubator’ Hub in Dubai for ‘On the Spot’ Solution Engineering.
The Sui blockchain has launched a hub in Dubai, aimed at incubating blockchain developers and entrepreneurs, according to co-founder Kostas Chalkias.
Developed in collaboration with Ghaf Group, the hub aims to position Dubai as a center for hackathons and blockchain innovation.
Bitcoin Hashrate Hits All-Time High as Publicly Listed Miners’ Share of the Network Peaks.
Bitcoin’s (BTC) seven-day moving average hashrate has hit an all-time high of 703 exahashes per second (EH/s), a nearly 13% increase since April’s halving event. Publicly traded miners now contribute 28.9% of the total hashrate, with significant gains from CleanSpark, MARA Holdings, Riot Platforms, and IREN, indicating they are capturing more market share.
Bitcoin’s hashprice has risen to $50 per petahash per second (PH/s), boosted by the price climbing to $68,000 and higher transaction fees. As a result, we expect the next difficulty adjustment to increase by over 4% on October 23, ensuring consistent block mining every 10 minutes.
Memecoins Promoted by Andrew Tate Plummet 99%, Sparking Insider Trading Concerns.
Following Andrew Tate’s endorsement of several Solana-based tokens on June 7, many, including $GER and Roost (ROOST), saw significant price declines.
Due to a small number of investors controlling the majority of the $GER token’s supply and a hack on Roost’s Treasury, significant losses occurred.
Most tokens Tate promoted, like Daddy Tate (DADDY) and Fuck Tristan (FTRISTAN), have dropped over 90%.
This trend highlights growing skepticism toward celebrity endorsements in the crypto market, where over 30 celebrity-backed tokens launched in June have lost substantial value, with half declining by 99% in a month.
GOAT Meme Coin Plummets 50% Amid Doubts Over AI-Driven ‘Terminal of Truths’.
After suspicions surfaced that developer Andy Ayrey’s “Terminal of Truths” X account was not AI-operated, the Goatseus Maximus (GOAT) token fell 50% in a single day.
Ayrey launched the “Terminal of Truths” as part of an AI project that began with “The Infinite Backrooms” in March 2024.
The controversy began when the AI account made a typo, leading to doubts about its authenticity. GOAT’s price dropped from $0.40 to $0.20, but after Ayrey’s clarification that the account is a combination of two AI models communicating, the price rebounded to $0.33.
He holds 1.25 million GOAT tokens and plans to distribute some to friends and researchers.
U.K. Pension Giant L&G Looks to Enter Crypto’s Tokenization Space.
Legal & General (L&G), the London-based pension and investment management firm with $1.5 trillion in assets, is planning to enter the blockchain-based tokenization space.
This trend has gained traction among traditional finance firms, especially after BlackRock launched its BUIDL fund on the Ethereum blockchain.
Other firms, such as Franklin Templeton and State Street, have also explored tokenization.
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