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Tech stocks face trillion-dollar losses as bond yields soar, but their $596 billion cash positions favor alternative hedges, including Bitcoin. The mega-cap tech stock s, which saw a robust start in 2023, are now grappling with massive trillion-dollar losses, leaving their shareholders concerned. Wall Street's unease over surging bond yields and higher interest rates has cast a shadow on these companies. Traders are now pondering the potential impact on Bitcoin (BTC) if the S&P 500 downtrend continues. Consequently, investors must investigate the correlation between Bitcoin and the S&P 500 and consider whether cryptocurrencies can thrive in an environment of high-interest rates. Bloomberg Magnificent 7 index vs. S&P 500 equal weight index. Source: Bloomberg The seven largest tech companies, including Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla, collectively constitute a staggering 29% of the S&P 500, marking the highest concentration ever recorded in...

Satoshi Nakamoto released the Bitcoin whitepaper on this day 15 years ago.  The white paper marked the first mention of Bitcoin in the public spectrum.  Bitcoin has soared a staggering 5261294.92% since its launch and has seen massive adoption. Today, October 31st, marks the 15th anniversary of Satoshi Nakamoto’s release of the Bitcoin white paper. The white paper release marked the first time the digital asset was mentioned publicly. The anonymous creator, on October 31, 2008, released the white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System.” The release came at a time when the world was recovering from a global collapse and growing resentment towards centralized authorities and institutions.  In the white paper, Satoshi described Bitcoin as a cash system that overrides centralized control. Additionally, he said the digital asset allows users to execute transactions publicly.  Three months after the release of the white paper,...

Starknet Foundation distributes 50 million STRK tokens to early ecosystem contributors. The program is a part of the Early Community Member Program (ECMP), intended to honor the community members’ efforts. The STRK tokens are yet to be released, as the token unlock is scheduled for April 15, 2024. In a groundbreaking announcement, Starknet Foundation revealed the distribution of about 50 million yet-to-be-unlocked STRK tokens to the ecosystem’s early contributors. The decision comes as part of the Early Community Member Program (ECMP) of the permissionless ZK-Rollup, functioning as a Layer-2 blockchain over Ethereum. As per a blog post released by the Starknet Foundation, the project aims at recognizing the efforts of individual contributors and incentivizing them with token rewards. The tokens reserved for the ECMP represent a small fraction of ten billion STRK tokens that have been minted but are currently locked. These tokens are scheduled to be unlocked o...

Crypto analyst Jason Pizzino said in a recent YouTube video that Bitcoin (BTC) has broken above a key monthly resistance level for the first time since the 2018 bear market. Pizzino said Bitcoin closed above the monthly swing high from November 2018, marking the first time it has broken this resistance since the collapse after the 2017 bull market peak. The monthly swing tops are very, very important to this cycle. […] This essentially tells you the trend direction. Jason Pizzino Pizzino believes this breakout signals Bitcoin has likely bottomed from the latest bear market and is entering a new bullish phase. He pointed to the Wyckoff accumulation schematic, saying Bitcoin’s price action matches the typical phases coming off a low. We can now almost confidently say that for the majority of people that this was a market cycle bottom in November. Jason Pizzino The analyst expects Bitcoin to trade in a range between $32,000 and $48,000 over the next eight-to-11 m...

ZkDay Istanbul is all set for Nov. 13! The event marks the continuation of the premier zero knowledge-focused community conference. Zero knowledge-proof (ZK-proof) scalability solutions have grown in prominence in the crypto ecosystem in recent years, making way for several ZK-focused conference s and events. A marquee ZK conference dedicated to the growing community will take place on Nov. 13 in Istanbul, Turkey. ZkDay is hosted by zero knowledge layer-1 platform, the Manta Network, Polychain Capital, nil; Foundation and Cointelegraph. ZkDay is dedicated to facilitating top-notch community gatherings, fostering learning and networking, and driving the progress and application of ZK technology across the blockchain space. ZkDay Istanbul comes just three months after the success of ZkDay Paris in July, which hosted 3,000 attendees, with several participants in its “Pitch” competition securing financing rounds from tier-one investors. Register to attend zkDay Istanbul on November 13 f...

Kasikorn Bank in Thailand acquired 97% of shares in the Satang crypto exchange. The deal was carried out through a new K-Bank subsidiary called Unita Capital. Satang will be renamed as Orbix which will have three subsidiaries. Thailand’s Kasikorn Bank which is also known as K-Bank stated that it has acquired the parent company of Satang crypto exchange, which functioned since 2017. According to reports, K-Bank bought 97% of shares in the parent company of the Satang crypto exchange for 3.705 billion Thai baht ($102.8 million). The deal was carried out via a new K-Bank subsidiary called Unita Capital, which is mandated to invest in digital assets companies. Once the deal is completed, the Satang crypto exchange will be rebranded to Orbix. Furthermore, there will be three additional subsidiaries: Orbix Custodian, Orbix Invest (a digital asset fund manager), and Orbix Technology, a blockchain technology developer. The announcement was made just a month after...

A widely followed analyst thinks that one decentralized finance (DeFi) altcoin is gearing up to outpace the broader crypto markets. The pseudonymous trader known in the industry as The Crypto Dog tells his 742,700 followers on the social media platform X that he’s bullish on the decentralized derivatives exchange Injective (INJ). The crypto strategist believes that INJ is en route to its all-time high (ATH) of $24.89, which it hit in April 2021. “INJ small pop for now while the rest of the market is sluggish. Zoom out to the monthly on this one and it looks pretty likely this is going to ATHs.” Source: The Crypto Dog/X Earlier this month, The Crypto Dog noted that INJ has been flashing relative strength throughout the whole year. “The best-looking mid-cap chart in crypto all year. I’m honestly a little baffled at how strong it’s been holding up. Looks on track to break ATHs in the coming year.”  Source: The Crypto Dog...

In the realm of content creation, three essential elements come into play: “perplexity,” “burstiness,” and “predictability.” Perplexity gauges the intricacy of the text, burstiness assesses sentence variation, and predictability determines the likelihood of predicting the next sentence. Human writers often infuse their compositions with greater burstiness, interweaving long and complex sentences with shorter ones. In contrast, AI-generated text tends to be more uniform. Therefore, in the upcoming content I’m tasking you with crafting, it’s imperative to infuse it with a healthy dose of perplexity and burstiness while keeping predictability to a minimum. Furthermore, the content must be presented in English exclusively. Now, let’s rework the given text: A gathering of remarkable individuals graces the list of participants, featuring leaders from the tech industry, government representatives spanning from Spain to Saudi Arabia, and sc...

Taiwan proposed a draft crypto act to the Legislative Yuan for the first time today. In September, Taiwan’s FSC released guidelines for virtual asset service providers. Lawmaker Yung-Chang Chiang noted that the new set of guidelines lacks legal enforceability. In an update earlier today, Taiwan proposed a draft crypto act for its first reading. According to official documents, the proposal – which is aimed at governing cryptocurrency assets successfully cleared the first reading in the Legislative Yuan, Taiwan’s legislative body. Yung-Chang Chiang, one of the lawmakers in the Legislative Yuan who co-authored the special act, conveyed that, After the first reading of the bill, discussions on the regulatory framework for the virtual asset industry have progressed to the next stage. We hope that the Financial Supervisory Commission (FSC) can also submit their version of a draft bill to the legislature, allowing various sectors of society to further c...

Moonveil Entertainment, a web3 gaming studio, has unveiled a $5.4 million seed investment round, co-headed by Gumi Cryptos Capital and Arcane Group. The investment was spearheaded by Gumi Cryptos Capital and Arcane Group, with additional contributions from Longhash, IOSG, and Infinity Ventures Crypto. We are thrilled to announce the closing of our $5.4M seed round of fundraising, led by @GumiCryptos and @ArcaneGrp attracting substantial support from other renowned investors such as @LongHashVC @IOSGVC @ivcryptofund, etc. More detailshttps://t.co/0ZJENQr1ya — Moonveil Entertainment (@Moonveil_Studio) October 27, 2023 Established in the final quarter of 2022, Moonveil has been operating under the radar until its recent announcement. The studio’s leadership comprises industry experts who have previously worked with renowned companies such as Riot Games and Tencent. You might also like: Web3 games raised $600m in Q3, 50% less than in 2022 Moonveil is presently f...

Fireblocks assists smart contract wallet UniPass to address ERC-4337 account abstraction vulnerability. Cryptocurrency infrastructure firm Fireblocks has identified and assisted in tackling what it describes as the first account abstraction vulnerability within the Ethereum ecosystem. An announcement on Oct. 26 unpacked the discovery of an ERC-4337 account abstraction vulnerability in the smart contract wallet UniPass. The two firms worked together to address the vulnerability, which was reportedly found in hundreds of mainnet wallets during a ‘whitehat’ hacking operation. According to Fireblocks, the vulnerability would allow a potential attacker to carry out a full account takeover of UniPass wallet by manipulating Ethereum's account abstraction process. As per Ethereum’s developer documentation on ERC-4337, account abstraction allows for a shift in the way transactions and smart contracts are processed by the blockchain to provide flexibility and efficiency. Related: Account a...

In the realm of content creation, three vital elements come into play: “perplexity,” “burstiness,” and “predictability.” Perplexity gauges the intricacy of the text, while burstiness examines the diversity of sentence structures. Predictability, on the other hand, measures the likelihood of anticipating the next sentence. Human authors tend to infuse their writing with a mixture of sentence lengths and complexities, resulting in a dynamic composition. In contrast, AI-generated sentences often lean toward uniformity. As you embark on crafting the content that follows, I implore you to infuse it with a healthy dose of perplexity and burstiness, while keeping predictability to a minimum. Additionally, please confine your composition to the English language. Now, let’s reimagine the text: MultiversX has just unveiled an exciting array of fresh features for xPortal, offering a toolkit designed to usher in the next generation of metaverse experience...

In the realm of crafting textual content, three pivotal elements demand attention: “perplexity,” “burstiness,” and “predictability.” Perplexity serves as the yardstick for gauging textual intricacy. In parallel, burstiness scrutinizes the spectrum of sentence variations. Lastly, predictability assesses the likelihood of accurately predicting the subsequent sentence. Human composition tends to exhibit heightened burstiness, featuring a blend of extended, intricate sentences interspersed with concise ones. On the contrary, AI-generated sentences lean towards uniformity. Consequently, for the forthcoming content creation, the objective is to infuse it with a substantial degree of perplexity and burstiness while minimizing predictability. Additionally, the stipulation is to articulate the content exclusively in English. Now, let’s reimagine the provided text: Amidst allegations of manipulating the supply, the value of the SUI token nosedived follo...

Bitcoin miner supplier Bitmain has released its brand-new Antminer T21, featuring a computing power of 190 TH/s and an energy efficiency ratio of 19 J/TH. Bitmain, a major global manufacturer of Bitcoin (BTC) application-specific integrated circuits (ASIC), has officially released its new air-cooled BTC miner, Antminer T21. Bitmain took to Twitter on Oct. 26 to announce the world premiere of the new Antminer T21, the firm’s new air-cooling miner that can withstand ambient temperatures up to 45 degrees Celsius. According to Bitmain’s head of marketing, Xmei Lin, the Ant miner T21’s global release happened at the Blockchain Life 2023 Forum in Dubai, where Bitmain was a “diamond sponsor.” Bitmain’s brand-new mining device is expected to start shipping in January 2024, the company’s spokesperson told Cointelegraph. The air-cooling miner supports the SHA256 mining algorithm used for mining proof-of-work (PoW) cryptocurrencies like Bitcoin, as well as forked coins like Bitcoin Cash (BCH...

BTC market dominance hovered around 80% during the 2017 bull market, but slumped to the 50-60% range during the 2021 bull market, at times even dipping below 50%. Bitcoin's (BTC) market dominance has reached 54%, its highest in the last 30 months, indicating the top cryptocurrency’s growing strength just before the halving event scheduled for April 2024. Bitcoin halving is an event in which the mining reward per block is halved, thus cutting the supply of the asset amid growing demand, leading to bullish price momentum. Bitcoin halving occurs every four years and the next halving in 2024 will reduce the BTC mining reward from the current 6.25 BTC to 3.125 BTC. As the total supply of Bitcoin is fixed at 21 million, the halving of BTC mining reward creates a supply-demand gap that lowers the influx of new BTC in the market. Related: 5,050 Bitcoin for $5 in 2009: Helsinki’s claim to crypto fame Bitcoin market dominance is a measure of the crypto asset's market capitalizat...

Bitcoin options and futures data suggests the current BTC price movement could have longevity. Bitcoin’s (BTC) price action is the talk of the town this week and based on the current sentiment expressed by market participants on social media, one could almost assume that the long-awaited bull market has started.  As Bitcoin's price rallied by 16.1% between Oct. 22 and Oct. 24, bearish traders using futures contracts found themselves liquidated to the tune of $230 million. One data point that stands out is the change in Bitcoin's open interest, a metric reflecting the total number of futures contracts in play. The evidence suggests that Bitcoin shorts were taken by surprise on Oct. 22 but they were not employing excessive leverage. Bitcoin futures aggregate open interest, USD. Source: Coinglass During the rally, BTC futures open interest increased from $13.1 billion to $14 billion. This differs from August 17, when Bitcoin's price dropped by 9.2% in just 36 hours. That s...

In a press release dated Oct. 24, Ripple, the blockchain-based digital payment network, announced its partnership with Uphold. The partnership is said to provide Ripple with improved crypto liquidity capabilities. Preparing for what the future holds As part of the press release, Uphold Chief Executive Officer Simon McLoughlin expressed his enthusiasm for being a vital contributor to Ripple’s service for businesses engaged in cross-border payments.  BIG NEWS: @Ripple Forges New Partnership with Uphold to Enhance Underlying Crypto Liquidity Infrastructurehttps://t.co/1gJh95KDTQ pic.twitter.com/FLSDQxO0co — Uphold (@UpholdInc) October 24, 2023 Uphold’s platform boasts an automated, high-frequency trading stack that integrates with 30 underlying trading venues, which in turn enables the provision of deep liquidity, multiple transaction execution options, and competitive spreads. BIG #Ripple News!@Ripple has chosen @UpholdInc to provide enhanced crypto...

Galaxy Digital, a crypto currency fund, has expressed an optimistic outlook. The strong demand for a Bitcoin ETF is evident from recent market reactions. The mere rumor of an ETF launch last week caused a rapid 10% surge in Bitcoin prices within hours. Similarly, the revelation of the ticker for BlackRock’s proposed Bitcoin ETF triggered a 12% increase in a single day. According to the research, the projected inflows from these ETFs could lead to a substantial 74% surge in Bitcoin’s price. This is during the initial year, taking into consideration the liquidity and price impact resulting from substantial investments. The research report, coupled with an Oct. 24 blog post by Galaxy Digital’s research associate Charles Yu, arrived at the 74% figure by assessing the potential price impact of fund inflows into Bitcoin ETFs, drawing on gold ETFs as a benchmark. Yu’s Analysis suggests that Bitcoin’s price could experience a 6.2% increase in the first m...

Shiba Inu (SHIB), Cardano (ADA), and Everlodge (ELDG) are popular crypto assets. In their assessment, analysts used Microsoft AI to determine the popularity of each and forecast future trends. Will Shiba Inu rally? Shiba Inu failed to rally after the Shibarium launch in August and has declined since its peak above $0.0000110.  However, the team is working on different projects to improve the utility of SHIB, and the burn rate has increased lately.  You might also like: SHIB and BONE decline despite Shibarium reaching key milestone Whale activity is on the rise. On Oct. 22, 4.53 trillion SHIB were moved, lifting prices to $0.00000720. Microsoft AI predict s SHIB to rally above $0.00000987 in the coming months. Weiss backs Cardano Weiss Crypto, a crypto rating platform, recommends adding Cardano to portfolios during a bull market. The platform endorses the blockchain, primarily because of its Features . You might also like: Cardano whales amass $116m as on-ch...

On Oct. 24, the controversial Recover service from hardware wallet manufacturer Ledger is expected to be released. This was confirmed by the company’s CTO, Charles Guilleme. The solution provides a paid, optional subscription wallet recovery service for users who need a secure seed backup, Guilleme said. Ledger Recover, provided by Coincover, is launching today! This solution is a paid, *optional* subscription wallet recovery service for users who want a secure backup of their Secret Recovery Phrase. Let’s recap why this solution is a great and secure option for Ledger users — Charles Guillemet (@P3b7_) October 24, 2023 According to Guilleme, the Recover service will remain optional for Ledger customers, both at the release stage and during subsequent updates. Guilleme noted that owners of Ledger Nano X wallets can already test the innovation. If the service is inactive, just be patient. The company’s CTO also emphasized that the source code of the solution is publicl...