Aurelia Butler

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  • 138 Shares129 Views

    in Cryptocurrency

    Veteran Trader Peter Brandt Reveals When Bitcoin Will Enter ‘Banana Zone’

    Brandt’s prediction revolves around the “Banana Zone” phenomenon, which has been heavily influenced by Raoul Pal this year. The “banana zone” is a theoretical period on the market when the price of an asset follows a trajectory reminiscent of a banana, i.e., parabolically rising and expanding. Pal has long speculated that Bitcoin and the cryptocurrency market in general will enter a “banana zone” this cycle. Although it has not happened yet, the former Goldman Sachs top manager is not giving up and insists that such a time will come, but according to his latest take, “no talk of yellow fruit until we cleanly break $70,000.” At the time, Peter Brandt weighed in with his views on when the major cryptocurrency might enter a period of unbridled parabolic growth, and if Pal is waiting until $70,000 is secured, Brandt is waiting for $72,000. Following Brandt’s logic, we can say that until the cryptocurrency shows bullish ambitions right next to its historical high, talk of a “banana zone” is premature.So, while the “banana zone” is yet to come, in the meantime, all eyes will be on the $72,000 mark on the Bitcoin price chart.This article was originally published on U.Today More

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    in Cryptocurrency

    Bitcoin ETFs Celebrate Most Important Milestone to Date

    By comparison, it took gold ETFs around five years to reach the same milestone. Total assets in Bitcoin ETFs now stand at $65 billion, marking a new high, according to data from Bloomberg’s Eric Balchunas.A visual from the Bloomberg terminal shared by Balchunas highlights the impressive figures, with BlackRock (NYSE:BLK)’s IBIT ETF contributing a notable $22.46 billion in inflows. However, significant outflows from Grayscale’s GBTC trust of $20.14 billion wiped out almost half of the gains. Despite this, net inflows remained strong, and Bitcoin ETFs as a whole still surpassed the $20 billion mark.While this achievement is undoubtedly big, we will have to wait and see if it is the start of a new phase for Bitcoin ETFs. The future trajectory will depend on market conditions and broader trends like politics, despite the recent influx of capital suggesting that investor sentiment may be turning positive. Either way, the $20 billion milestone is a new benchmark for Bitcoin ETFs and shows that more and more people are interested in investing in cryptocurrencies.This article was originally published on U.Today More

  • 163 Shares159 Views

    in Cryptocurrency

    Aleph Zero Launches Subsecond Shielding on Testnet, Delivering Client-Side ZK Privacy for DeFi

    Most zero-knowledge proofs are generated server-side for scaling, but Aleph Zero’s zkOS does that directly on users’ devices, offering privacy in a fraction of secondAleph Zero, the leading blockchain platform recognized for its focus on privacy and scalability, announces the launch of the first feature of zkOS (zero-knowledge operating system)—Shielding, on its EVM Testnet. This release marks the first opportunity for users to experience the shielding feature of zkOS in action, demonstrating the speed and privacy capabilities of Aleph Zero’s zero-knowledge proof (ZK) technology optimizations. “Privacy has long been a challenge in blockchain, often due to poor user experience,” said Adam Gagol, Co-Founder & CTO of Aleph Zero. “With today’s release, we’re delivering one of the fastest client-side ZK directly to users, combining privacy and performance. The release of the Shielding Demo offers a glimpse into how zkOS can bring privacy to DeFi without sacrificing speed or usability.”The system is designed to be easily integrated by developers, providing a privacy framework that requires minimal cryptographic knowledge. This simplicity, combined with Aleph Zero’s rapid client-side ZK proof generation, makes zkOS a critical tool for developers building privacy-centric applications across DeFi and other web3 sectors.zkOS enables users to manage their assets securely across multiple blockchains, ensuring their transactions remain private. Unlike traditional privacy methods that rely on centralized or hardware-based systems, zkOS operates directly on the client-side, safeguarding privacy without external dependencies.About Aleph ZeroAleph Zero is an ecosystem of blockchain solutions that are engineered for speed, data confidentiality, and ease of development. It achieves efficiencies akin to conventional web2 systems, upholds rigorous standards for data protection via zero-knowledge proofs (ZKP), and offers a comprehensive toolset for development across web3, ranging from WASM-based Rust to EVM-based Solidity environments. Aleph Zero’s versatility is highlighted by over 40 use cases being actively developed, showcasing its adaptability across various sectors and applications. These use cases are part of an engaged community and growing ecosystem of web3 applications supported by Aleph Zero programs.For more information, visit https://alephzero.org/.For any inquiries about this release, please contact [email protected] or [email protected] ManagerJosh AdamsAleph [email protected] article was originally published on Chainwire More

  • 75 Shares189 Views

    in Economy

    Labour’s unambitious reset with the EU

    Save over 65%$99 for your first yearFT newspaper delivered Monday-Saturday, plus FT Digital Edition delivered to your device Monday-Saturday.What’s included Weekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysis More

  • 200 Shares109 Views

    in Cryptocurrency

    Decentralized AI Summit at MIT votes OriginTrail, powered by Polkadot, as the best decentralized AI project

    OriginTrail, the ecosystem striving for a safe internet in the age of AI with its decentralized knowledge graph, was named the best project at the prestigious MIT Decentralized AI Summit. Held at the MIT Media Lab, the summit brought together top innovators, researchers, and industry leaders to explore the future of decentralized AI technologies.The packed schedule saw contributions of representatives from Dell (NYSE:DELL), Intell, NVIDIA (NASDAQ:NVDA) and other notable AI companies. In his talk, the founder of OriginTrail Branimir Rakic explained how OriginTrail’s decentralized knowledge graph powered by Polkadot acts as a critical infrastructure in addressing some of the internet’s most important challenges in the age of AI such as misinformation, deep fakes, fake news or unreliable AI in a broader sense. The pioneering approach to powering trust in AI stood out amongst the numerous showcases at the event and led to being voted as the best project by the participants of the Decentralized AI Summit. This recognition highlights OriginTrail’s expected impact on driving mainstream adoption for both AI and Web3 technologies across diverse set of industries, from Real World Assets (RWA) in global supply chains, Decentralized Physical Infrastructure (DePIN) connecting knowledge of organizations and individuals, to advancements in improving AI models through federated access to training data. About OriginTrailOriginTrail is an ecosystem dedicated to making the global economy work sustainably by enabling a universe of AI-ready Knowledge Assets, allowing anyone to take part in trusted knowledge sharing. It leverages the open-source Decentralized Knowledge Graph that connects physical and digital worlds in a single connected reality driving transparency and trust. Advanced knowledge graph technology currently powers trillion-dollar companies like Google (NASDAQ:GOOGL) and Facebook (NASDAQ:META). By reshaping it for Web3, the OriginTrail Decentralized Knowledge Graph provides a crucial fabric to link, verify, and value data on both physical and digital assets.For more information, users can visit origintrail.io.MIT DecAI summit event | LI OriginTrail announcement | X OriginTrail announcementContactCommunications departmentLucija [email protected] article was originally published on Chainwire More

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    in Cryptocurrency

    Decentralized Storage Protocol Walrus Launches Public Testnet

    Akord, a web3 platform for securing and managing data, also begins its migration to Walrus ProtocolMysten Labs, the web3 infrastructure company, today announced that following a successful Devnet, Walrus Protocol, a decentralized storage network, has launched its public Testnet. Walrus Protocol stores and delivers large data files, including rich media content, audio files, video, images, PDFs and more, from any web2 or web3-based source. These large files, known as blobs, are stored quickly and efficiently by Walrus, whose storage is resilient, scalable, programmable, and secure. Walrus’s public Testnet, and its Testnet token, WAL, are served by Sui as the coordination layer. Sui provides a dedicated management architecture for Walrus to store its global state and metadata offering speedy consensus, composability, and the opportunity to integrate storage into smart contracts on Sui. Walrus’s Testnet launch will include: Coinciding with the launch of Walrus’s public Testnet, Akord, a secure storage and collaboration platform, providing user-friendly, cost-effective, and decentralized storage solutions for any digital asset, announces its migration from Arweave to Walrus. Akord is set to migrate to Walrus within the next week. The move comes on the heels of Decrypt Media’s recent announcement of its plans to integrate with Walrus, making the publication the first media outlet to commit to storing media articles and video content on Walrus. “At Akord, our mission is to create a platform that empowers individuals and businesses with meaningful data ownership – the ability to secure data publicly and tokenize it, or store it privately with end-to-end encryption, controlling the keys and access,” said Pascal Barry, CEO of Akord. “Migrating to Walrus allows us to offer our existing customers a more cost-effective, versatile and performant solution, as well as giving us the opportunity to realize our mission at a much larger scale.”Powered by a system that divides large data files into smaller fragments, referred to as ‘Red Stuff,’ Walrus distributes slivers of data files across various storage nodes. This process ensures that even if some pieces go missing, the whole of the data can still be reconstructed. This approach reduces the need for data redundancy, allowing the network to grow seamlessly while ensuring fast and reliable access to data. Walrus introduces advanced storage verification through proofs and attestations, incentivizing nodes to store slivers of each file. Instead of verifying individual files, Walrus assesses the entire storage node, significantly lowering the cost of proving data storage. Walrus, whose original contributor is Mysten Labs, launched on Devnet in June 2024. Its whitepaper was available as of September 2024, presented by Janet Wu, Head of Product, Platform, at Mysten Labs, at Sui’s Singapore Builder House Event. Walrus Mainnet is slated to launch in 2025.About Mysten LabsMysten Labs is a team of leading distributed systems, programming languages, and cryptography experts whose founders were senior executives of Meta (NASDAQ:META)’s Novi Research and lead architects of the Diem blockchain and Move programming language. The mission of Mysten Labs is to create foundational infrastructure for web3. Learn more: https://mystenlabs.com. About WalrusWalrus is a next-generation decentralized storage network for data and rich media content such as large text files, videos, images, and audio. Leveraging innovations in erasure coding, Walrus offers exceptional data availability and robustness with minimal replication overhead for cost efficiency. Powered by Sui as the coordination layer, Walrus scales to hundreds or thousands of networked decentralized storage nodes without compromising performance. Learn more: https://www.walrus.xyz/. About Akord The Akord platform is built on a digital vault protocol that offers file management, end-to-end encryption, file sharing, access control, minting and token gated access. The platform consists of an app, API, SDK and CLI with a strong focus on user and developer experience. Learn more: https://akord.com/ ContactLexi WanglerMysten [email protected] article was originally published on Chainwire More

  • 213 Shares129 Views

    in Economy

    Bank of Canada to cut rates by 50 bps on Oct. 23; next move unclear: Reuters poll

    BENGALURU (Reuters) – The Bank of Canada will cut its overnight rate by 50 basis points on Oct. 23 as price pressures ease, according to two-thirds of economists polled by Reuters who however failed to reach a consensus on where rates would be two months from now.Headline inflation declined more than expected to 1.6% last month. Along with further signs of a slowing economy, financial market traders and most economists are convinced the BoC, which has already trimmed rates by a cumulative 75 basis points since early June, will go for a bigger 50 basis point cut next week. Governor Tiff Macklem said last month the Bank wants to keep inflation close to the center of the 1%–3% range and economic growth could weaken, raising expectations for faster reductions toward the neutral rate which neither restrains nor stimulates the economy.But persistently high shelter costs, sticky core inflation and an unexpected fall in the unemployment rate last month suggest it still could be a close call.Two-thirds of economists, 19 of 29, in a Oct. 15-17 Reuters poll forecast the Bank would cut rates by one half-percentage point to 3.75%. One expected a 50 basis point cut in an August survey.”There has been a lot of baseless on-and-off speculation around the BoC’s next move but it needed data to justify a call. We now have that. The BoC is likely to cut 50 bps next Wednesday…I’ll also argue while it’s our call, we disagree with upsizing,” said Derek Holt, head of capital markets economics at Scotiabank.”There is still the risk the BoC – which has surprised markets many times in the past – could opt for 25 bps…the Bank is at significant risk of unleashing inflationary forces.”Four of the big five Canadian banks predicted a half-point cut, with only TD expecting a quarter-point reduction.If realised, that would match a 50 bps Federal Reserve rate cut last month. But the U.S. central bank is now widely expected to move in 25 basis point increments as the economy remains resilient. The prospect of a bigger rate cut has led to a roughly 2% decline in the Canadian dollar against its U.S. counterpart since the start of the month.One-third of economists, 10, expected a 25 basis point cut next week.”Core inflation measures have largely evolved in line with the BoC’s projections for Q3, and the 2.3%/2.4% reading for CPI-median/trim will make it easier to look through September’s headline surprise if the Bank wants to continue at a 25 bps per meeting pace,” said Robert Both, Canadian macro strategist at TD Securities. “Still, the risk of a 50 bp cut has risen with inflation falling further below the 2.0% target, and next week’s BoC decision is looking increasingly like a coin toss.”There was no clear consensus what the central bank will do at the following meeting in December, the last of the year.While 10 of 29 economists expected the policy rate at 3.50% by year-end, nine predicted it to be 3.75% and another nine expected 3.25%. Only one said it would be 4.00%.Meanwhile, inflation was forecast to rise slightly over the coming quarters and remain around 2% until 2026, the poll found.The BoC will cut rates by 100 basis points next year, shallower than this year, poll medians showed.The economy likely grew 1.2% on an annualized basis last quarter, compared to 2.8% predicted by the BoC in July projections. It was expected to average 1.1% this year before bouncing back to 1.8% in 2025. The central bank will release updated economic forecasts next week too.(Other stories from the Reuters global economic poll) More