Cryptocurrency

The world’s largest cryptocurrency traded slightly above the $50,000 to $65,000 trading range seen through most of the year. But it did come off highs hit over the weekend. Bitcoin rose 1.2% to $65,749.0 by 08:32 ET (12:32 GMT). Vice President Kamala Harris on Monday pledged to support a regulatory framework for crypto, including allowing black men easier access to the industry. But the details of her planned framework were not immediately clear.Still, Harris’ pledge marked one of her first mentions of crypto policy in recent campaigning efforts, and sparked some hopes that she will not extend the Biden Administration’s crackdown against the industry.Harris is set for a tight presidential race against Republican nominee Donald Trump, with roughly three weeks left to the ballot. Trump has so far maintained a largely pro-crypto stance, and even as several crypto-related business ventures, of which World Liberty Financial is set to launch next week. Harris’ pledge also helped traders look past concerns over more regulatory moves against crypto, after the Securities and Exchange Commission sued a major crypto market maker last week.Bitcoin clocked a weekend rally after the trustees of defunct crypto exchange Mt Gox postponed plans to return stolen Bitcoins to creditors by a year. The defunct exchange, which reportedly held nearly $10 billion worth of tokens, had begun returning tokens to creditors in July. The exchange signaled last week that it will conclude token distributions only by end-October 2025. Mt Gox’s token distributions had initially sparked steep losses in Bitcoin, given that the distributions entailed increased Bitcoin supplies and more selling pressure on prices.But a staggered distribution presents less immediate selling pressure on Bitcoin. Broader cryptocurrency tracked gains in Bitcoin. World no. 2 crypto Ether rose 2.1% to $2,593.37SOL, XRP and ADA each rose less than 1%, while MATIC marginally fell. Among meme tokens, DOGE added 0.8%But despite recent gains, most crypto tokens were nursing losses in the past two weeks, amid a dearth of any major positive cues for the industry. Bitcoin is showing signs of upward momentum that could drive it toward $73,800 before the U.S. presidential election, Standard Chartered analysts said in a recent note. The bank attributes the potential price surge to several factors, including a steepening U.S. Treasury yield curve, growing interest in spot bitcoin exchange-traded funds, and increasing chances of Donald Trump winning the upcoming election.”For bitcoin the combined factors mean a bleed up towards the all-time high of $73,800 looks likely pre-election,” analysts wrote in a note seen by CoinDesk. They pointed out that bitcoin and other digital assets have “finally started to rise” following the steepening of the 2s10s yield curve, which reflects the gap between 2-year and 10-year U.S. Treasury yields. This shift, spurred by stronger-than-expected U.S. CPI data released on Thursday, signals heightened market volatility and the potential for further interest rate hikes—factors that often increase demand for assets like bitcoin.Ambar Warrick contributed to this report.  More

He shared advice on how to “survive and thrive” in these times for millennials, as well as people from generations X and Z. He continues to use his concept of “rich dad,” which he allegedly encountered when his was a teenager.Robert Kiyosaki said that in order to “survive and thrive” in today’s high inflationary environment, it is important to find new teachers – wise and experienced people who can share advice on how to manage one’s funds and increase one’s net worth. Kiyosaki recommends looking out for those on social media and particularly YouTube that offer “a massive array of teachers.”“Find the teachers that talk to your body, mind, and spirit and grow into the rich and successful person you know you are,” Kiyosaki tweeted, addressing his audience on the X platform.This is the way to reach and then attain financial success, he says. He also believes that after that, it is important to share the knowledge you acquired with others who need it: “Give back by teaching students who want to learn from you.”However, if or when that happens, Kiyosaki intends just to buy these assets “at a discount”: “I will be buying all the Bitcoin I can, as well as other assets, at bargain basement prices.” But if Bitcoin crashes to $5,000, it may then boom to $100,000, $250,000 and even higher, he wrote.This article was originally published on U.Today More

The treasury still has just over $150M worth of DOT available for spending, which community members estimate should last about a year and a half at current prices.Software development made up the largest chunk of the budget, with nearly $12M allocated to projects like building a Polkadot-Ethereum bridge and improving wallet functionality. Marketing and outreach were the second-biggest expense, with over $9.9M going towards ads, events, meetups, conferences, and more.The findings follow earlier reports, which sparked discussions on the use of treasury funds and how these funds should be managed.Polkadot manages its treasury across multiple assets and chains within the Polkadot ecosystem. This complex financial structure supports various governance initiatives, decentralized finance (DeFi) operations, and liquidity provisions. A major development in Q3 was Polkadot’s first asset swap, in which 1M DOT tokens were exchanged for an equivalent amount of MYTH tokens. The swap was part of a broader strategy to integrate the Mythical gaming chain into the Polkadot network. As of September 30, 2024, the Polkadot Treasury holds a total of $153M (33.3M DOT) in assets, with $109M readily available for spending. In addition, $6.6M of the treasury’s reserves are held in stablecoins, and another $28M has been set aside for stablecoin acquisitions. Meanwhile, Polkadot deployed $10M of its assets across four DeFi chains, including Hydration, Centrifuge, Bifrost, and Pendulum. Executive bodies, including bounties and collectives, accounted for 15% of the spending, with funds directed towards initiatives like DeFi tooling, gaming, and business development.The treasury surplus for Q3 was reported at 32.4M DOT ($149M) after accounting for its liabilities, such as wages for the Polkadot Technical Fellowship and future distributions of MYTH tokens. Operational costs came in at $1.4M, covering network infrastructure, data services, and legal expenses. The treasury ramped up investment in talent and education, spending $3.8M on hackathons, educational programs, and recruitment efforts. On the other hand, research spending took a hit, dropping to just $313,000 from $1.5M in the previous quarter.The report also touches on the ongoing debate around inflation and its impact on the treasury’s long-term financial stability. While inflation does help refill treasury funds, the report points out that it can’t be a permanent solution since it essentially acts as a tax on token holders who aren’t staking.Polkadot stakeholders recently voted to reduce inflation rates to stabilize the treasury’s income. The report estimates that the treasury will receive around 18M DOT (about $83M) from inflation in 2025, giving it a budget of 4.5M DOT per quarter.  More

Solanex AI, an innovative DEX built on the Solana blockchain, has announced the token sale of its native token, $SOLDEX. This marks a major milestone in Solanex’s mission to transform digital asset trading through cutting-edge AI technology and an intuitive, user-focused platform.The $SOLDEX token powers the Solanex ecosystem, enabling seamless trading experiences while leveraging Solana’s ultra-fast and low-cost transactions. By integrating AI-driven strategies, Solanex is set to redefine how traders interact with DeFi, offering unmatched efficiency and profitability.A total of 17.5% of the $SOLDEX supply is allocated for this pre-sale, with the Token Generation Event scheduled for early 2025. To date, the initial coin offering (ICO) has raised over $200,000, and is now available for participation.Solanex ICO has already raised over $200,000 and is now live for participation, more information can be found here.The Solana Advantage for Solanex AISolanex AI has strategically chosen to build on the Solana blockchain, which has recently demonstrated considerable growth. Asset manager VanEck has projected that Solana could reach up to 50% of Ethereum’s market capitalization. Additionally, Solana’s network recently outperformed Ethereum in 24-hour DEX trading volume, capturing 23% of the total market share. Solanex AI aims to capitalize on this momentum by leveraging Solana’s scalability and low transaction costs to deliver AI-driven trading enhancements within the DeFi ecosystem.Solanex vs. Traditional DEXsTraditional DEXs often struggle with liquidity fragmentation, high transaction costs, and complex user interfaces. Solanex AI addresses these challenges head-on by leveraging the power of artificial intelligence. The platform’s AI-powered governance system dynamically optimizes liquidity distribution, ensuring that traders always have access to the best prices. Additionally, Solanex AI’s innovative Reserve-Based Virtual Pools eliminate the need for indirect trades, reducing slippage and lowering overall trading costs.The Power of AI in CryptoAbout Solanex Solanex AI aims to become a leading DEX on the Solana blockchain, offering an advanced trading experience for both retail and institutional investors. With its innovative AI-powered features and commitment to user satisfaction, Solanex AI is paving the way for a new era of decentralized trading.Solanex X page: https://x.com/solanex_aiWebsite: https://solanex.ai [email protected] article was originally published on Chainwire More

The dYdX Foundation is pleased to announce the launch of Trump Prediction Market Perpetuals on dYdX, offering traders the unique ability to apply advanced order types on Donald Trump’s chances of winning the 2024 U.S. Presidential Election.This innovative market was added through a governance process by the dYdX Community on October 9th. It allows users to take trading positions on the U.S. election outcome in a fully decentralized and non-custodial environment, giving them the ability to amplify their positions and gain increased exposure to one of the most highly anticipated political events of the year. Traders bullish on Trump’s chances can take long positions, while those with a bearish outlook can short the market, leveraging their insights on election dynamics for potentially greater returns.Key Features of the Trump Perpetual Prediction Market:How to Get Started:What’s Next?In addition to the Trump Prediction Market Perpetuals, the dYdX Community may permissionlessly introduce more leveraged prediction markets on various real-world events, including sports, global elections, and cultural events. This expansion would provide the dYdX Community with a broader range of trading opportunities, all supported by the platform’s decentralized infrastructure.Disclaimer:None of this is investment advice. Crypto-assets can be highly volatile and trading crypto-assets involves risk of loss. Investment into crypto-assets may not be regulated and may not be adequate for retail investors. Do your own research and due diligence before engaging in any activity involving crypto-assets. dYdX is not available in the U.S. or to U.S. users, as well as in other restricted jurisdictions.For further inquiries, please contact:MarketAcrossEmail: [email protected]: https://dydx.trade/Discord: Join Our CommunityContactDan [email protected] article was originally published on Chainwire More

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Minutes Network, the world’s first blockchain-based international voice-calling and wholesale termination service provider, is thrilled to announce the appointment of Jamie King as its new Chief Marketing Officer, effective October 14th, 2024. With a pioneering career in driving digital marketing transformations, Jamie is set to lead Minutes Network marketing initiatives into a new era of growth and engagement, bringing a wealth of expertise, vision, and leadership that will further drive the company’s commitment to providing voice carriers worldwide with the highest quality international terminations, at the lowest, market-beating, prices. Minutes Network offers a unique integration between telecommunications and the blockchain, leveraging existing and new, proprietary MinTech technologies to provide voice carriers worldwide with the highest quality international terminations at unmatchable prices. With twenty-four international points of presence, Minutes Network can terminate international traffic all day, every day, to any worldwide destination. Through innovative solutions and a dedication to excellence at pace, Minutes Network continues to set new standards in the Telecom Industry. For more information about Minutes Network and their leadership team, users can visit www.minutesnetwork.io and X account.ContactCEOJosh WatkinsMinutes [email protected] article was originally published on Chainwire More

With about 88% of liquidations coming from short traders, the general sentiment of the market points to a massive shakeout of short positions, indicating that bears are under a lot of pressure. The two companies with the highest liquidations, especially in short positions, were Binance and HTX. It is noteworthy that HTX’s liquidations, which had a 98% short liquidation rate, were heavily biased toward shorts. This illustrates the market’s strong bullish momentum, and it appears that bears were unprepared for the price of Bitcoin to return above $64,000.It is clear from examining Bitcoin’s recent chart performance that the cryptocurrency has breached significant resistance at $62,000. It is now getting close to $64,500, the next crucial level that has traditionally served as a psychological barrier. Around $68,000 would be the next major target if Bitcoin could maintain this momentum. Traders should exercise caution, though, as a pullback could occur if $64,500 is not decisively broken, possibly retesting support at $61,000. Investigating the data further reveals that futures open interest has dropped precipitously, especially on Binance futures, where almost 4,000 BTC in open interest were erased.This highlights the fact that bearish traders are being squeezed and shows a liquidation of over-leveraged positions. The heatmap also demonstrates that this liquidation event is not unique, as numerous other assets such as SUI and SOL have undergone comparable liquidations.A healthy shakeout of short positions is reflected in the liquidation sweep, raising the possibility of a further bullish rally. Investors ought to keep an eye on the crucial resistance levels, especially the $64,500 range for Bitcoin. More substantial gains on the cryptocurrency market, with Bitcoin at the forefront, might be possible with a clear break.This article was originally published on U.Today More