By Shikha Singh
Coinbase-Backed Base To Improve Decentralization With Fault Proofs.
Base, an Ethereum layer-2 blockchain incubated by Coinbase, is enhancing its decentralization with the upcoming launch of a fault-proof system on October 30.
This mechanism will allow users to verify the correctness of transactions and challenge invalid withdrawals, eliminating the need for a trusted third party.
Hamster Kombat Telegram Subscribers Dropped Sharply in October.
Hamster Kombat, the leading tap-to-earn game of 2024, is experiencing a significant decline in popularity this October.
The game’s official Telegram channel has seen a drop in subscribers from 60.7 million to 55 million, losing over 200,000 daily.
Interest in the game has also waned, as evidenced by a steep decline in Google search trends, which fell from a peak of 100 in September to just 3 in October.
This decrease is attributed to community dissatisfaction with airdrop campaigns.
Bitcoin Mining Giant TeraWulf Plans To Raise $350 mn.
TeraWulf, a Bitcoin mining company, plans to raise $350 million through convertible senior notes to fund a $200 million share repurchase program.
Within the first 13 days following the issuance of the notes, which mature on February 1, 2030, the company announced that initial buyers will have the option to add $75 million.
Specific interest rates for the notes have not yet been disclosed. By December 31, 2025, the board of directors has authorized the share repurchase program.
Cat-Themed Meme Coins Steal the Spotlight, Setting New All-Time Highs.
While the anticipated altcoin season has yet to materialize, cat-themed meme coins are leading the market with new all-time highs, indicating a potential “Cat Season.”
POPCAT recently reached an ATH of $1.67, and investors are hopeful it could surpass $2.00, though profit-taking risks loom, particularly with key support at $1.00.
Similarly, MEW hit an ATH of $0.0106, experiencing a 15.6% rise, while CAT surged nearly 80% and is close to its previous ATH. Despite the positive momentum, all these coins could face setbacks from profit-taking and increased market volatility.
Crypto Liquidations Hit $271 mn.
Despite signs of recovery in the crypto market, liquidation figures reveal significant turmoil, with total liquidations exceeding $271 million this week, according to CoinGlass.
Ethereum leads the trend, with $72.97 million lost, predominantly affecting long traders who lost $56.58 million as prices dropped from $2,605 to $2,542.
Bitcoin saw approximately $56.55 million in liquidations, with long traders accounting for about $28.62 million.
Additionally, Solana faced $10.12 million in liquidations, while newer projects like NEIRO lost $6.49 million. In contrast, meme coins like Shiba Inu (SHIB) experienced minimal liquidation, under $1 million.
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