🚀 EigenLayer Unlocks Transfers, Expected To Launch On Major Exchanges
#EigenLayer #LiquidStaking #Ethereum #Restaking #Decentralization #AVS #CryptoExchanges #VitalikButerin #Blockchain #Tokenomics
According to PANews, EigenLayer is set to unlock transfers tomorrow, with expectations of launching on major exchanges. The restaking sector has faced criticism for being a complex game among staking tokens. However, this criticism overlooks a significant positive externality: EigenLayer, along with protocols like Etherfi, Puffer, Renzo, KelpDAO, and Swell, has disrupted Lido's monopoly in the Liquid Staking Token (LST) market. Lido's market share has decreased from a concerning 33% to 28%, thereby maintaining the decentralization and security of the Ethereum mainnet.
Restaking combined with Active Validator Set (AVS) represents the complete potential of EigenLayer. Currently, 19 projects have adopted EigenLayer's AVS, including OmniNetwork, Cyber MACH, AltLayer MACH, DODOchain MACH, and ARPA Network. Notable projects without token generation events (TGE) include EigenDA, Hyperlane, eoracle, Witness Chain, and Lagrange.
Following Vitalik Buterin's confirmation of the Rollup Centric roadmap for the Ethereum community, the ReStaking+AVS paradigm faces some uncertainty. The next step might involve integrating with the Rollup paradigm to provide services such as Data Availability (DA), shared sequencers, high-security oracles, unified cross-domain liquidity, and ZK coprocessors.
Given the current adoption of AVS, the Ethereum community's concern about consensus overload seems less urgent than it did before the exponential growth of the restaking sector earlier this year. Consensus overload refers to validators potentially taking on too many responsibilities beyond their original role on the Ethereum mainnet. This could lead to the dispersion of validator resources, complicate incentive mechanisms, and raise security concerns if a large number of validators participate in EigenLayer, potentially affecting the overall security of the Ethereum mainnet.#EigenLayer #LiquidStaking #Ethereum #Restaking #Decentralization #AVS #CryptoExchanges #VitalikButerin #Blockchain #Tokenomics
🚀 Japan To Review Crypto Regulations
#Japan #CryptoRegulations #FinancialServicesAgency #DigitalAssets #InvestorProtection #PaymentsAct #FinancialInstruments #CryptoIndustry #GlobalCryptoRegulation #MiCA
According to CoinDesk, Japan is set to review its rules for the crypto sector, Bloomberg reported on Monday. The review will assess whether the nation's approach of regulating crypto under the payments act is effective. This evaluation will take place over the coming months and could lead to significant changes in how digital assets are regulated in Japan.
The Financial Services Agency (FSA) of Japan is conducting the review to determine if the current crypto regulations provide adequate protection for investors. The review may conclude that the payments act itself needs modifications or that cryptocurrencies should be reclassified as financial instruments, thereby falling under the country's investment law. Such changes could potentially lead to lower taxes for digital assets, an area Japan has been exploring.
Globally, nations are working to clarify their stance on crypto regulation. The U.K. made crypto a regulated activity last year, bringing the sector under its financial services rules. Europe has created specific rules for the crypto sector known as the Markets in Crypto Assets (MiCA) rules. South Africa has also recently opened up its licensing regime for the sector.
CoinDesk reached out to the Financial Services Agency for further comments.#Japan #CryptoRegulations #FinancialServicesAgency #DigitalAssets #InvestorProtection #PaymentsAct #FinancialInstruments #CryptoIndustry #GlobalCryptoRegulation #MiCA
🚀 Monochrome Bitcoin ETF Holdings Reach 143 BTC
#Monochrome #Bitcoin #ETF #Holdings #BTC #Australia #AssetsUnderManagement #AUM
According to Odaily, the Monochrome Bitcoin ETF (IBTC) in Australia has reported holdings of 143 BTC as of September 27. The assets under management (AUM) for the ETF are approximately $13.67 million.#Monochrome #Bitcoin #ETF #Holdings #BTC #Australia #AssetsUnderManagement #AUM
🚀 Onyx Protocol Set To Relaunch After $3.8 Million Hack
#OnyxProtocol #DeFi #hack #OIP46 #Ethereum #lending #relaunch #NFT #crypto #security #blockchain #PeckShield #Cyvers #cryptohacks #Web3 #XCN #RWA
According to Cointelegraph, decentralized finance (DeFi) protocol Onyx is set to relaunch its open-source, permissioned financial network, Onyx Core, following a $3.8 million hack on Sept. 27. The hack exploited a known but unaddressed security vulnerability. The Onyx Improvement Proposal (OIP)-46, introduced on the same day as the exploit, called for significant changes to the protocol, including shutting down its Ethereum-based lending market and reimbursing lenders in full.
By Sept. 29, the OIP-46 proposal had received unanimous support from the Onyx community, with no votes against the proposed changes. The proposal is scheduled for execution on Oct. 1. The Onyx team plans to issue a revised white paper for the relaunch of Onyx Core as a primary product, alongside Onyxcoin (XCN) staking.
The restructuring will involve operating the Onyx Protocol as a closed-ended lending protocol on Onyx Core, allowing users to wrap non-fungible tokens (NFTs), real-world assets (RWA), and crypto assets. The hack was executed by manipulating an NFTLiquidation contract to inflate the self-liquidation reward amount. Blockchain security firm PeckShield noted that the same vulnerability was previously used to attack Onyx in October 2023. Other hacks exploiting the same vulnerability include the Hundred Finance hack in April 2023. The proposed restructuring aims to secure the Onyx Protocol from future attacks.
According to Web3 cybersecurity company Cyvers, losses from crypto hacks in the first three quarters of 2024 exceeded $2.1 billion. Centralized finance operators, such as crypto exchanges, were the biggest targets, with a 984% year-on-year increase in the first three quarters of 2024. Much of that came in the year’s second quarter when $401 million was lost. While losses in the DeFi sector dropped 25% year-on-year in Q2, the sector still saw $171.3 million lost from 62 incidents.#OnyxProtocol #DeFi #hack #OIP46 #Ethereum #lending #relaunch #NFT #crypto #security #blockchain #PeckShield #Cyvers #cryptohacks #Web3 #XCN #RWA
🚀 SunPump Partners With FameEX To Enhance Crypto Community Ecosystem
#SunPump #FameEX #CryptoCommunity #MemeCoin #Cryptocurrency #Blockchain #Bitcoin #Ethereum
According to Foresight News, SunPump platform has announced an ecological partnership with cryptocurrency exchange FameEX. This collaboration aims to further promote the prosperity and development of the crypto community ecosystem, enhancing user participation in MemeCoin and providing more attention and liquidity to quality projects within the SunPump platform.
FameEX, which launched in January 2020, has diversified its business segments and is committed to developing into a secure, stable, and efficient blockchain tool platform. It supports trading in various mainstream cryptocurrencies, including Bitcoin and Ethereum.#SunPump #FameEX #CryptoCommunity #MemeCoin #Cryptocurrency #Blockchain #Bitcoin #Ethereum
🚀 UniSat CEO Highlights Decentralization And Challenges In BRC-20 Development
#UniSat #BRC20 #Decentralization #Blockchain #Crypto #Innovation #Standardization #Community #TechnicalDevelopment
According to Odaily, UniSat CEO Lorenzo recently shared insights on the X platform regarding the decentralization of BRC-20 over the past year. Lorenzo emphasized that the level of decentralization within the BRC-20 ecosystem has surpassed initial expectations. He suggested that the community should temporarily set aside concerns about UniSat's perceived influence within the BRC-20 ecosystem and instead focus on the technical development and impact of BRC-20. As an index service provider, UniSat's actual influence on the BRC-20 standard can be considered minimal.
Over the past year, UniSat's understanding of BRC-20 has evolved significantly. The company has invested substantial effort in advancing the standard through proposals and iterations. However, as observed over the last 12 months, progress in standardization has proven to be both slow and challenging for UniSat.#UniSat #BRC20 #Decentralization #Blockchain #Crypto #Innovation #Standardization #Community #TechnicalDevelopment
🚀 Google To Invest $1 Billion In Thailand Data Center
#Google #Investment #Thailand #DataCenter #CloudComputing #ArtificialIntelligence #SoutheastAsia #Economy #JobCreation #TechCompanies
According to PANews, Google has announced plans to invest $1 billion in building a data center in Thailand, following the trend of global tech companies expanding their cloud and artificial intelligence infrastructure in Southeast Asia. The new facilities will be located in Bangkok and Chonburi Province, southeast of the capital. This investment, revealed on Monday and supported by a Deloitte study, is projected to contribute $4 billion to Thailand's economy by 2029 and create 14,000 jobs annually over the next five years. The announcement was made jointly by Google and Thailand's newly appointed Prime Minister, Srettha Thavisin, highlighting the efforts of Southeast Asian governments to attract foreign tech companies.#Google #Investment #Thailand #DataCenter #CloudComputing #ArtificialIntelligence #SoutheastAsia #Economy #JobCreation #TechCompanies
🚀 Significant CRO Transfer Detected by Whale Alert
#CRO #WhaleAlert #CryptoCom #cryptocurrency #digitalasset #marketactivity
According to PANews, Whale Alert has reported a substantial transfer of CRO tokens. At 19:46 UTC+8, a total of 186,370,440 CRO, valued at approximately $15,698,494, was moved from an unknown wallet to CryptoCom. This significant transaction has caught the attention of the cryptocurrency community, highlighting the ongoing activity and movement within the digital asset market.#CRO #WhaleAlert #CryptoCom #cryptocurrency #digitalasset #marketactivity
🚀 Three Arrows Capital Makes Strategic Investment In MOG Coin
#ThreeArrowsCapital #MOGCoin #Investment #Blockchain #Cryptocurrency
According to Odaily, Three Arrows Capital has announced a strategic on-chain investment in MOG Coin. The firm has acquired 69 billion MOG, which is approximately valued at $104,200.#ThreeArrowsCapital #MOGCoin #Investment #Blockchain #Cryptocurrency
🚀 BNB Chain Launches Featured Activities Program
#BNBChain #FeaturedActivities #ecosystem #projects #launch
According to Odaily, BNB Chain has announced the launch of its new initiative, the 'BNB Chain Featured Activities' program. This program is now open for applications and aims to provide a platform for ecosystem projects to showcase themselves.#BNBChain #FeaturedActivities #ecosystem #projects #launch
🚀 Jupiter Announces Launch Of Jupiverse Community
#Jupiter #Jupiverse #community #launch #Xplatform #updates
According to Odaily, Jupiter has announced the launch of the Jupiverse community on the X platform. This new community allows users to interact with team members, workgroups, and all colleagues of Jupiter. Additionally, users can stay updated on the latest developments within Jupiverse.#Jupiter #Jupiverse #community #launch #Xplatform #updates
🚀 Dubai's Hedge Fund Market Thrives With 40 Billion-Dollar Firms
#Dubai #HedgeFunds #BillionDollarFirms #BloombergCrypto #AI #UnitedStates #UnitedArabEmirates
According to Odaily, data disclosed by Bloomberg Crypto on the X platform reveals that Dubai now hosts 40 hedge funds each valued at over $1 billion. This indicates a thriving hedge fund market in the region. Additionally, it is reported that the United States is currently in discussions with the United Arab Emirates regarding artificial intelligence.#Dubai #HedgeFunds #BillionDollarFirms #BloombergCrypto #AI #UnitedStates #UnitedArabEmirates
🚀 Tron Network's September Revenue Shows Stability
#TronNetwork #JustinSun #SeptemberRevenue #Blockchain #Cryptocurrency #Tronscan #RevenueReport #TRX
According to BlockBeats, Justin Sun announced on social media that TRON Network's revenue for September remained largely consistent with August's figures.
Tronscan data reveals that TRON Network's revenue over the past 30 days amounted to $201.38 million, reflecting a slight month-on-month decrease of 3.85%. Over the past 90 days, the total revenue reached $564.59 million, marking a significant month-on-month increase of 43.39%.#TronNetwork #JustinSun #SeptemberRevenue #Blockchain #Cryptocurrency #Tronscan #RevenueReport #TRX
🚀 Bitcoin Experiences Short-Term Correction Amid Market Uncertainty
#Bitcoin #MarketCorrection #BullMarket #Overbought #GreedFearIndex #Bearish #ISMManufacturing #Recession #FederalReserve #InterestRates #Stimulus #EconomicData #BTC
According to BlockBeats, Bitcoin experienced a decline on September 30, falling from above $65,000 to a minimum of around $63,200. A report from 10x Research attributes this drop to a typical bull market correction following an overbought situation.
Markus Thielen, founder of 10x Research, noted that last week's report indicated Bitcoin was overbought in the short term, as reflected by the rising greed and fear index. The current short-term reversal signal has turned bearish, suggesting a potential correction in the coming days. Thielen highlighted that ISM manufacturing new orders data show forward-looking indicators have fallen to near recession levels. This makes the upcoming data release highly uncertain; a reading below 48.0 could cause Bitcoin to fall further, while higher numbers might push Bitcoin up.
Despite the short-term bearish outlook, Thielen expressed optimism about the fourth quarter. This optimism is based on expectations that the Federal Reserve will cut interest rates by 50 basis points again and China's recently announced large-scale stimulus measures. The market may gain insights into the Fed's plans later today, as Fed Chairman Powell is scheduled to speak on economic issues at the National Association for Business Economics' annual meeting in Tennessee (1 a.m. tomorrow).
BlockBeats notes that the US September ISM Manufacturing PMI and August JOLTs job vacancies data will be released at 22:00 UTC+8 tomorrow.#Bitcoin #MarketCorrection #BullMarket #Overbought #GreedFearIndex #Bearish #ISMManufacturing #Recession #FederalReserve #InterestRates #Stimulus #EconomicData #BTC
🚀 Bitcoin's September Performance Surpasses Expectations, Positive Outlook for October
#Bitcoin #SeptemberPerformance #PositiveOutlook #October #QCPcapital #StockMarket #Cryptocurrency #Investment #HedgeFunds #RiskAppetite #BTC
According to BlockBeats, QCP Capital reported on September 30 that both stocks and Bitcoin exceeded expectations at the end of the third quarter, breaking the usual sluggish trend seen in September. Bitcoin has risen more than 7% this month, marking one of its strongest September performances ever. As October begins, global risk appetite remains robust, with Goldman Sachs' prime brokerage division indicating that hedge funds are betting three times more on rising IT stocks than on falling ones.
QCP Capital suggests that Bitcoin may continue to fluctuate within its current range due to a historical pattern of profit-taking at these levels. Despite this, the firm maintains a positive outlook on Bitcoin's medium-term prospects, believing that a breakthrough of $70,000 could trigger further upward momentum.#Bitcoin #SeptemberPerformance #PositiveOutlook #October #QCPcapital #StockMarket #Cryptocurrency #Investment #HedgeFunds #RiskAppetite #BTC
🚀 SynFutures Q3 Trading Volume Surpasses $150 Million Daily Average
#SynFutures #Q3TradingVolume #BaseNetwork #DerivativesMarket #TradingVolume #LP #LiquidityIncome #Blockchain #Financing #Audit
According to BlockBeats, SynFutures has reported significant trading volumes on the Base network in the third quarter. Data from Defillma indicates that the daily average trading volume for SynFutures on Base exceeded $150 million, with the trading volume in the past 24 hours surpassing $200 million. Since its launch, SynFutures has consistently ranked first in the Base derivatives market and remains one of the most active ecosystems on the platform. Additionally, SynFutures has introduced the Vault function on Base, allowing users to provide single-currency LP with one click to earn liquidity income, platform transaction fees, and points rewards.
SynFutures is recognized as one of the largest on-chain derivatives trading markets. Since the mainnet launch in March, the cumulative trading volume has exceeded $170 billion, capturing a significant share of the derivatives market on both the Base and Blast networks. The platform previously announced securing $38 million in financing from prominent industry institutions such as Pantera, Polychain, Dragonfly, and Standard Crypto. The agreement has also successfully passed the Quantstamp audit.#SynFutures #Q3TradingVolume #BaseNetwork #DerivativesMarket #TradingVolume #LP #LiquidityIncome #Blockchain #Financing #Audit
🚀 Vanguard Group's Stance on Bitcoin Explained by Bloomberg Analyst
#VanguardGroup #Bitcoin #ETFs #Bloomberg #EricBalchunas #commodities #investments #cryptocurrency #BTC
According to Odaily, Bloomberg ETF analyst Eric Balchunas addressed a question on the X platform regarding why Vanguard Group appears to dislike Bitcoin. Balchunas clarified that Vanguard Group's stance is not intentional, though he conceded there might be a slight element of that perception. He explained that Vanguard Group is generally uninterested in commodities, viewing them as purely speculative investments. Balchunas also shared his personal opinion, suggesting that support for Bitcoin ETFs should be relaxed and that they should at least be introduced on Vanguard's platform.#VanguardGroup #Bitcoin #ETFs #Bloomberg #EricBalchunas #commodities #investments #cryptocurrency #BTC
🚀 NFT Sales Decline In September Amid Regulatory Scrutiny
#NFT #DigitalCollectibles #SalesDecline #RegulatoryScrutiny #SEC #CryptoSlam #OpenSea #PudgyPenguins #FlyfishClub #MarketTrends
According to Cointelegraph, non-fungible token (NFT) sales continued to decline in September, with digital collectibles' monthly sales volumes failing to recover. Data from CryptoSlam shows that NFTs recorded $296 million in sales during September, marking a 20% decrease from August's sales volume of $373 million. This figure represents an 81% drop from the $1.6 billion in sales volume recorded in March, which was the strongest month for digital collectibles in 2024.
Digital collectibles have not seen a monthly sales volume below $300 million since January 2021, when the monthly sales volume fell to $109 million. In addition to the decline in sales volume, total NFT transactions dropped 32% from 7.3 million in August to 4.9 million in September. Despite these negative statistics, the average value of NFT transactions increased by 18%, rising from $50.71 in August to $60 in September.
The downward trend in the NFT space coincides with increased scrutiny from the United States Securities and Exchange Commission (SEC). On August 28, Devin Finzer, CEO of NFT marketplace OpenSea, reported that the company received a Wells notice from the SEC. Finzer claimed that the SEC alleged some NFTs on the platform might qualify as unregistered securities. On September 16, the SEC fined the NFT-themed restaurant Flyfish Club $750,000 for selling NFTs. SEC commissioners Hester Peirce and Mark Uyeda criticized this enforcement action, arguing that the NFTs sold by Flyfish should not trigger securities laws, as they were merely “a different way to sell memberships.”
Despite the SEC's actions, Luca Schnetzler, CEO of the popular NFT collection Pudgy Penguins, dismissed the regulator's efforts as “nonsense.” In a previous interview with Cointelegraph, Schnetzler described the SEC's actions as a “nothing burger,” arguing that targeting OpenSea would necessitate going after larger organizations involved in NFTs, such as Sotheby’s, Nike, and Pokemon.#NFT #DigitalCollectibles #SalesDecline #RegulatoryScrutiny #SEC #CryptoSlam #OpenSea #PudgyPenguins #FlyfishClub #MarketTrends
🚀 Federal Reserve Governor Bowman Reiterates Concerns Over Core Inflation
#FederalReserve #MichelleBowman #CoreInflation #MonetaryPolicy #InflationTarget
According to Odaily, Federal Reserve Governor Michelle Bowman has reiterated her previous statements regarding monetary policy. Bowman emphasized that the core inflation rate remains uncomfortably above the 2% target.#FederalReserve #MichelleBowman #CoreInflation #MonetaryPolicy #InflationTarget
🚀 UK's First Conviction For Illegal Cryptocurrency ATM Operation
#UK #Cryptocurrency #ATM #IllegalOperation #Conviction #MoneyLaundering #TaxEvasion #FCA #FinancialRegulation
According to PANews, Olumide Osunkoya, 45, has admitted to operating an illegal cryptocurrency ATM network in the United Kingdom, marking the first conviction of its kind in the country. Osunkoya pleaded guilty to five charges at Westminster Magistrates' Court, involving the unregistered operation of multiple cryptocurrency ATMs, which facilitated transactions worth approximately £2.6 million ($3.4 million). The court indicated that these ATMs could have been used for money laundering or tax evasion. The Financial Conduct Authority (FCA) has intensified its crackdown on illegal cryptocurrency ATMs and plans to sentence Osunkoya at Southwark Crown Court, with the date yet to be determined.#UK #Cryptocurrency #ATM #IllegalOperation #Conviction #MoneyLaundering #TaxEvasion #FCA #FinancialRegulation
🚀 ZA Bank Reports Mid-Year Performance with Significant Growth
#ZABank #MidYearPerformance #Growth #DigitalBank #HongKong #Profitability #NewAccounts #UserBase #BankablePopulation #FasterPaymentSystem #GenerationZ #Stablecoin #BankingServices
According to Odaily, ZA Bank has announced its mid-year performance results, revealing a 43% increase in total assets, reaching HKD 20 billion as of June 30, 2024. This milestone makes ZA Bank the first digital bank in Hong Kong to achieve monthly profitability. Public data indicates that ZA Bank has seen a 60% growth in new account openings, now serving over 800,000 users, which constitutes 13% of Hong Kong's bankable population. Additionally, more than half of these users have set ZA Bank as their default receiving bank for the Faster Payment System (FPS). Among the younger Generation Z demographic, ZA Bank has achieved a 25% penetration rate.
Following the Hong Kong Monetary Authority's announcement of the stablecoin issuer sandbox participants, ZA Bank declared itself as the first local digital bank to offer exclusive reserve banking services for stablecoin issuers. This positions ZA Bank among the first banks in Hong Kong to provide such services.#ZABank #MidYearPerformance #Growth #DigitalBank #HongKong #Profitability #NewAccounts #UserBase #BankablePopulation #FasterPaymentSystem #GenerationZ #Stablecoin #BankingServices