Headlines
The ranking of the best countries and regions for cryptocurrency business in 2024 has been released, with the top ten being: Dubai, Switzerland, South Korea, Singapore, the United States, Estonia, Italy, Russia, Germany, and Brazil. It is reported that Dubai scored highest in regulatory clarity, zero capital gains tax, favorable corporate tax (9%), and affordable licensing fees, making it the top destination for cryptocurrency.
According to Bitcoin News statistics, currently, 11.97 million Bitcoins are held by ordinary users, while 500,000 Bitcoins are held by the government. The situation has officially reversed.
According to HODL15Capital monitoring, last week, U.S. Bitcoin spot ETFs increased their holdings by a total of 4,635 BTC, exceeding the BTC production during the same period (3,150 BTC).
According to monitoring, as of October 13, Banana Gun's total revenue has reached 14,524 ETH and 71,676 SOL (approximately $46.14 million), with holders earning an annualized return of about 14.37%, ranking fourth in the DeFiLama TG Bot annual revenue leaderboard.
In March and June 2024, during the meme craze, revenue peaked, with a single-day peak income of $2.69 million; thanks to the recent enthusiasm for meme speculation, last week's revenue was nearly $970,000, mainly contributed by the Ethereum mainnet (about 78%), with 295,000 active wallets.
Industry News
According to Geniidata data, the total market capitalization of RUNE has reached $1.54 billion, with a 24-hour increase of 13.71%, and a trading volume of $5.04 million during this period, with a decrease of 34.4%.
The top three projects by market capitalization are DOG•GO•TO•THE•MOON ($539.53 million), GSC•BITCOIN•RGB ($217.83 million), and PUPS•WORLD•PEACE ($158.74 million).
Since Microstrategy adopted its Bitcoin strategy, the company's stock price (MSTR) has risen 1,620%, surpassing the increases of Bitcoin, the S&P 500 index, and major tech stocks.
Previously, the company's executive chairman Michael Saylor emphasized this performance on social media, comparing Microstrategy's growth to Bitcoin, the "Magnificent 7," and the overall market over the past three years, reaffirming his bullish stance on Bitcoin, stating, "The only thing better than Bitcoin is more Bitcoin… If you want to win, you need a Bitcoin strategy."
7,574 ETH flowed into BlackRock's Ethereum ETF on October 11
According to Arkham monitoring data, 7,574 ETH flowed into BlackRock's Ethereum ETF (ETHA) from a Coinbase Prime hot wallet address on the 11th, valued at $18.52 million. Additionally, official data shows that the total holdings of BlackRock's Ethereum ETF as of October 10 is 414,168.197 ETH, approximately $976,028,773.05.
A total of 346.337 BTC flowed into WisdomTree on October 11
According to Arkham monitoring data, a total of 346.337 BTC flowed from Flow Traders and Coinbase addresses into WisdomTree's Bitcoin ETF (WisdomTree Physical Bitcoin WBIT) on the 11th, valued at approximately $20.495 million.
Following the Wells notice issued by the U.S. Securities and Exchange Commission (SEC) to the NFT aggregation trading platform OpenSea, the law firm Bronstein, Gewirtz & Grossman announced that it is investigating potential claims on behalf of OpenSea NFT buyers, advising investors who purchased OpenSea NFTs to assist in the investigation and that it will represent investors in a class action lawsuit.
In Taiwan, there were a total of 9,625 virtual currency fraud cases in the first half of the year
Virtual currency fraud cases in Taiwan are gradually increasing, with a total of 9,625 cases reported in the first half of the year, a year-on-year increase of 25%, resulting in financial losses amounting to NT$14.176 billion, an increase of nearly 30% year-on-year. There are three main types of virtual currency fraud in Taiwan: fake investments, wallet authorization, and secondary fraud.
Uniswap's front-end trading revenue exceeds $77 million
DefiLlama data shows that as of October 10, Uniswap's front-end trading revenue has exceeded $77 million ($77.15 million).
Previously, it was reported that Uniswap Labs, the company behind Uniswap, launched the second-layer network Unichain, which has already gone live in testnet, with the mainnet set to launch soon.
Project News
Worldcoin recently shared a significant project update in San Francisco. Developers stated that the project has "significantly" grown over the past five years, and the time has come to enter the next stage of development.
At the upcoming "A new world" live event in San Francisco on October 17, Tools for Humanity (TFH) CEO Alex Blania and OpenAI CEO Sam Altman will discuss "meaningful updates" to this global initiative with key members of the Worldcoin Foundation and TFH.
These key updates include improved digital technology and methods to bring more users into the Worldcoin network, aiming to expand the project from the current approximately 7 million verified users to 700 million or even "more," while also providing essential tools to help everyone share in the "benefits" of the AI era.
Ethena community proposes to include SOL as collateral for USDe
Seraphim, head of growth at Ethena Labs, posted on the X platform that the Ethena community has initiated a proposal to include SOL as collateral for USDe, aiming to build a "spot and futures" hedging mechanism around SOL, similar to that of BTC and ETH.
The proposal states that SOL can provide higher funding rates than BTC and ETH, and including SOL as collateral can further advance the integration of Ethena and Solana, as well as increase protocol revenue when market conditions improve.
Paxos September PYUSD transparency report: total circulation drops to about $700 million
Paxos officially released the September 2024 PYUSD transparency report, disclosing unaudited data related to PYUSD as of August 31, 2024, 05:00 Beijing time, including:
- Total Tokens Outstanding decreased to $709,794,225;
- The current market value of collateral in U.S. Treasury bonds is approximately $111,598,980, with a nominal position value of approximately $110,718,542;
- The current market value of collateral in U.S. Treasury bond reverse repurchase agreements is approximately $585,329,040, with a nominal position value of approximately $573,852,000;
- The current market value of cash deposits is approximately $23,224,383, with a nominal position value of approximately $23,224,383;
- The current market value of collateral in total net assets is approximately $720,152,403, with a nominal position value of approximately $707,794,925.
Sui liquidity protocol DeepBook announces airdrop claim website to open today
The Sui liquidity protocol DeepBook announced that the DEEP token will be launched on October 14, with the claim website opening at 17:55 Beijing time. DBClaimNFT holders can destroy their NFTs on the claim website to receive the DEEP airdrop, and the DEEP token will be publicly issued on centralized and decentralized exchanges at 18:00.
WalletConnect: The foundation will launch Season 1 WCT airdrop for some early users and contributors
WalletConnect recently announced that the WalletConnect Foundation will launch a Season 1 WCT airdrop for certain early users and contributors. Users who have previously connected their mobile wallets to an application using WalletConnect (either by scanning a QR code or using the "Connect via WalletConnect" button) may be eligible for the WCT airdrop, and they need to register before October 18.
pump.fun's cumulative revenue exceeds $120 million
DefiLlama data shows that as of October 10, the Solana ecosystem meme coin issuance platform pump.fun has accumulated revenue exceeding $120 million, currently at $123.35 million.
Investment and Financing
Gate Ventures, Movement Labs, and Boon Ventures to launch a $20 million crypto fund
Gate Ventures and Boon Ventures announced a partnership with Movement Labs to establish a new $20 million fund dedicated to investing in Web3 startups. This fund will support the development of Move-based protocols, particularly those connecting the Move network with Ethereum-compatible (EVM) applications, mainly including projects focused on secure decentralized finance (DeFi), GameFi with in-game asset trading and non-fungible token (NFT) management, and interoperability solutions for data and asset transfers between the Move and EVM ecosystems.
Fission Labs, an on-chain venture capital platform, completes $1.6 million Pre-Seed funding round
On-chain venture capital platform Fission Labs announced the completion of a $1.6 million Pre-Seed funding round, led by SALT Fund and Kraynos Capital, with participation from Anthony Scaramucci (Skybridge). The new funds aim to bring venture capital into on-chain DeFi applications, with its platform having launched a testnet on Ethereum to support investments and trading of private equity-backed tokens by both cryptocurrency-native users and traditional financial participants.
Khosla Ventures raises $405 million to invest in OpenAI's $6.6 billion funding round
According to insiders and a regulatory filing, venture capital firm Khosla Ventures has raised a $405 million special purpose vehicle (SPV) to invest in OpenAI's $6.6 billion funding round. Insiders revealed that this SPV will consist of funds provided by Khosla Ventures and external investors. Venture capitalists typically support startups, but they also pool funds through SPVs to participate in later funding rounds.
Previously, projects that Khosla Ventures has invested in include: NEAR ecosystem blockchain infrastructure company Calimero Network, Worldcoin, investment application Seashell, Chain (XCN), and others.
Regulatory Trends
The public account of the Laiwu District People's Court in Jinan announced typical case 167 of the Shandong court's civil code application, regarding the legal attributes of digital collectibles and the validity of their trading behavior (Yang vs. a cultural company contract dispute). The ruling emphasized that digital collectibles are a form of virtual property, and there is currently no legal prohibition on the issuance and trading of digital collectibles in China. As long as the parties involved have the corresponding civil capacity and their intentions are genuine, digital collectible trading should be recognized as legal and valid. Digital collectibles possess both collectible and investment attributes, carrying significant market risks. Buyers aiming to profit from the price differences in the secondary market for digital collectibles should not be classified as consumers under the Consumer Rights Protection Law and should bear the corresponding risks of market price fluctuations.
The South African Revenue Service (SARS) announced that it will include crypto assets in its compliance program. The tax authority is seeking information about crypto users from the Financial Sector Conduct Authority (FSCA) and crypto asset service providers.
Recently, SARS stated that it felt it necessary to take this step after noticing that taxpayers had not reported crypto assets and transactions on their tax returns. According to the statement, South African law requires SARS to account for all income and assets, including cryptocurrencies.
In its latest comments on the issue, SARS indicated that it is working to simplify compliance for taxpayers and traders. Meanwhile, tax officials emphasized the consequences of intentional tax evasion. To achieve this goal, SARS stated that it has strengthened its audit team and adopted the latest technology.
Voices
Trump claims Elon Musk vowed to launch rockets to Mars before the end of his "second term"
Fox News reported that former U.S. President Trump stated that Elon Musk vowed to launch rockets to Mars before the end of his "second term." Trump also mentioned that he plans to stimulate economic growth and combat inflation, which he claims has risen by 19.9% due to the Biden-Harris administration. Trump stated that Elon Musk hopes to take on a position responsible for cost-cutting, which will establish a new role called "Minister of Cost-Cutting."
Elon Musk says he will establish a self-sustaining city on Mars in the future
Elon Musk responded to a user's question about establishing a city on Mars on Twitter at 21:07 Beijing time, stating that if civilization remains stable over the next 30 years, a self-sustaining city with a population of 1 million will be established on Mars.
Previously reported, Elon Musk announced new plans to launch five Starships to Mars within two years, send humans to Mars within four years, and establish the first Mars city, TERMINUS, capable of supporting 1 million people by 2050.
Binance's He Yi: I only have one X account
Binance co-founder He Yi clarified on the X platform that he only has one X account.
Previously, a post by Zhu Su on the X platform that appeared to be a retweet of a tweet titled "He Yi HEYI" was subsequently deleted.
Star: Solana is one of the most important ecosystems supported by OKX Web3
OKX CEO Star stated that Solana is one of the most important ecosystems supported by OKX Web3.
CryptoQuant CEO: Trump may face challenges as a Web3 founder
Ki Young Ju, founder and CEO of CryptoQuant, stated on the X platform that if Trump were to be a Web3 founder, he might face several challenges, including:
- Withstanding scrutiny from on-chain detective ZachXBT;
- Building a fan base through bold, even narcissistic tweets to defend token prices;
- Negotiating exchange listings;
- Protecting wallets and smart contracts;
- Controlling retail token distribution for ICOs and defending prices;
- Continuously demonstrating strong use cases and narratives;
- Risking being labeled a scammer globally until token prices recover.
Trump previously stated on the X platform that the public sale of the WLFI token will begin on October 15 (local time), with details to be introduced in a live broadcast on October 14.
Base protocol leader: Last week, the number of searchable assets on Coinbase Wallet doubled
Base protocol leader Jesse Pollak stated on the X platform, "This week (i.e., last week from October 7-13), we doubled the number of searchable assets on Coinbase Wallet to about 1.37 million and intentionally increased the number of price charts.
Our goal is to achieve 100% real-time coverage for searches, charts, notifications, etc., for all assets. There is still more work to be done."
Additionally, Pollak urged relevant parties to provide feedback for optimization.
Ava Labs co-founder: Avalanche will focus on vertical scaling next, centered around larger hardware
Ava Labs co-founder Kevin Sekniqi stated on the X platform, "Over the past few years, Avalanche has been focused on achieving horizontal scaling (application chains, etc.), and it seems poised to dominate this area soon. However, there is still much to be done in terms of vertical scaling, and this issue must be addressed next.
In my view, larger hardware must be at the core of achieving the above goals."
Whale Christian2022.eth posted: "Sold a bit of EIGEN, bought some SPX6900 (SPX) and HPOS10I ETH (BITCOIN) to start. Better late than never.
Just realized I still hold over $5 million in altcoins and will continue to focus on building Cheems and meme coins on the Ethereum chain to make them great again."
Earlier today, Christian2022.eth mentioned considering swapping altcoins for meme coins and seeking community advice.
Opinion: The trend of meme coins is inevitable, but further transparency and fairness are needed
Crypto KOL cygaar posted: "The trend of meme coins is inevitable.
Cryptocurrencies are widely adopted by the following groups:
- Always online, love internet culture;
- Always looking for ways to make money;
- Want to be part of a closely-knit community;
- Need some belief.
For the new generation of internet consumers, creating, trading, and discussing tokenized memes is a natural development.
There is still much work to be done to make meme coins more transparent and fair, but people are having fun, and some are making (a lot of) money from it.
The temptation to get rich by investing in the next viral meme coin will continue to attract users. This is also why AMC and GME became such massive phenomena.
As long as people spend a lot of time online, meme coins will continue to exist and thrive."
Well-known trader Ansem posted: "Overall, the funds flowing into meme coins in cryptocurrency are insufficient ($50 billion out of a $2.2 trillion market cap, accounting for 2.5%), yet they are gradually gaining attention.
The best trades in the next four months will determine which meme coins have the following characteristics:
- Long accumulation period;
- Loyal community on X;
- Easily relatable to the average person."
ZachXBT: Recent increase in robbery incidents targeting cryptocurrency traders
On-chain detective ZachXBT stated that he has noticed an increase in reports of cryptocurrency robbery victims. He recently posted, "In the past few months, the number of cryptocurrency burglary victims in Western Europe has been significantly higher than in other regions," and he has received messages from multiple victims, disclosing a robbery case involving $4.3 million.
ZachXBT said: "This is a cautionary case that I hope will aid in arrests and encourage people to take precautions. Avoid sharing personal information or details about crypto assets with friends, and do not flaunt on social media."
According to GitHub data, at least 15 offline cryptocurrency robbery incidents occurred in different countries or regions over the past year, with about 17 in 2023 and 32 in 2021.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
