🎆 New Year, New Luck! Join the Ultimate Lucky Draw Celebration!
🎉 Gate.io Community Honor Credits New Year Lucky Draw - Phase 6 is officially live!
Start the lucky draw now 👉 https://www.gate.io/activities/creditprize?now_period=6
🌟 How to Participate?
1️⃣ Go to the [Credits Center] in Gate Post and complete tasks like posting, commenting, and liking to earn Honor Credits.
2️⃣ Lower entry threshold: Earn 300 credits to get one entry into the lucky draw!
🎁 Enter the draw for a MacBook Air, exclusive merchandise, Points, Futures Voucher and more!
📅 Event Time: Dec 30, 2024, 07:00 AM - Jan
Gate Research Institute: BTC pumped, breaking through $64,000 with a surge in on-chain volume, Gate Venture established Move Ecology Fund
Summary
Market Review
According to gate market data, as of 4:00 on October 14 (UTC+0):
Popular Token
According to gate market data, combined with the volume and price performance in the past 24 hours, the following popular altcoins are as follows:
WELL - Single-day increase of approximately 19.6%, with a circulating market capitalization of 120 million US dollars. Moonwell Artemis uses the battle-tested code from Moonwell Apollo protocol to provide an open, non-custodial Decentralized Finance protocol. While Apollo is a community-driven protocol with innovative features, Artemis users will enjoy the same level of security while also benefiting from faster transaction times and elegant functionality.
Moonwell is advancing a proposal to add a wUSDM market on Optimism. The expansion of such markets is the main reason for this pump, and the community is optimistic about the impact of this proposal.【9】
ALI —— The single-day increase is about 16.6%, with a circulating market capitalization of 94.78 million USD. Alethea AI is building a Decentralization protocol to create an intelligent Metaverse inhabited by interactive intelligent Non-fungible Tokens (iNon-fungible Tokens). Players can use the iNon-fungible Token protocol to create, train, and earn iNon-fungible Tokens in the world's first intelligent Metaverse called the Noah's Ark.
Recently, the concept of AI has been generally rising, and Alethea AI has announced a partnership with Solana's new mobile Solana Seeker. This may be the reason for the pump in ALI prices. [10]
THL —— Single-day increase of approximately 11.5%, circulating Market Cap is 27.46 million US dollars. Thala is a Decentralized Finance protocol that operates on the Aptos Block on-chain. The governance of the Thala protocol is overseen by $THL Token holders. They have the power to make significant decisions affecting the protocol, such as adjusting exchange fees, treasury Interest Rate, and minting fees.
Recently, the activity of the Aptos Network Decentralized Finance project has been high, and the annualized yield of Thala-related transaction pools on THL can reach 38%, increasing the demand for holding THL, which may be the reason for the pump in THL price [11]
Highlights Data
BTC ETF net inflow of 254 million US dollars yesterday According to SosoValue data, the net inflow of the US BTCSpot ETF on the previous trading day (October 11th) was approximately $254 million, with a total daily trading volume of $20.6 billion. The cumulative net inflow amount is $18.81 billion, and the total value of BTC managed by the ETF is $586.6 billion, accounting for 4.71% of the total Market Cap.
ETH ETF net outflow yesterday was 9.71 million US dollars According to SosoValue data, the ETH Spot ETF in the United States had a net outflow of $97,100 on the previous trading day (October 11th), with a total daily trading volume of $143.5 million. The cumulative net outflow amount is $558.8 million, and the total value of ETH managed by the ETF is $6.74 billion, accounting for 2.28% of the total market capitalization.
Base volume surged, accounting for 40-60% of the total L2 blockchain volume According to IntoTheBlock data, the volume of the Base network has risen significantly in the past few months, accounting for 40% to 60% of the total volume of the three major Layer 2 blockchains (Arbitrum, Base, Optimism). [12]
exchange USDT (ERC-20) balance rise 152.38% to 22.4 billion US dollars, reaching a new all-time high According to CryptoQuant data, the USDT balance of major cryptocurrency exchanges has risen from 14.7 billion USDT at the beginning of the year to 22.4 billion USDT, reaching a historical high, an increase of 152.38%. [13]
The increase in USDT balance indicates that investors have a large amount of funds that have not been invested in the market, and they may be waiting for a suitable opportunity to buy in on a large scale. If there is positive news in the future or the market sentiment becomes bullish, the accumulation of USDT balance may trigger a new pump trend.
Hot Comment
Raydium October average daily trading volume exceeds $1 billion As of October 14th, Raydium's average daily trading volume in October exceeded $1.017 billion, an increase of 99.89% compared to the average daily trading volume in September. The TVL (Total Value Locked) also exceeded $1.5 billion, reaching a new high for this year. This rise is mainly attributed to the rapid development of the Solana MEME ecosystem. As a leading AMM and Liquidity provider on Solana, Raydium has become a major beneficiary of pump.fun, as the Liquidity bound in the pump.fun curve will automatically transfer to Raydium once the Token Market Cap reaches a certain threshold. [14]
As can also be seen from the figure below, Raydium's daily trading volume has a certain correlation with pump.fun. In September, affected by the fierce competition of TRX ecosystem MEME Token, the activity of pump.fun has declined, and the daily Token issuance has dropped to about 5,000. Raydium's daily trading volume has also been significantly reduced. However, in October, the activity has rebounded significantly, and the daily issuance of pump.fun has recovered to about 15,000 tokens. The daily trading volume of Raydium has also rebounded. At the same time, the Liquidity correlation between Raydium and pump.fun reflects the synergy effect between projects in the Solana ecosystem.
BTC developers disclose Bitcoin Core v25.0 vulnerability BTC developers recently disclosed details of another serious software vulnerability. According to senior Core developers, more than 13% of home and commercial computers that execute BTC rules are susceptible to remote shutdown. The vulnerability, named CVE-2024-35202, affects BTCNodes running versions of Core software prior to 25.0. Nodes that have not been updated to at least 25.0 will allow attackers to remotely exploit assertions in the software logic that processes Block transaction messages.
Although the vulnerability appears to be serious, it lacks direct economic incentives for ordinary attackers. The lack of economic motivation to exploit it drops the possibility of widespread exploitation, but it does not rule out the possibility that malicious attackers may use it to disrupt the operation of some Nodes, especially targeted attacks against specific targets. In addition, the vulnerability only affects versions prior to Core software 25.0, indicating that Node operators need to update to the latest version in a timely manner to ensure security. However, the non-automatic update mechanism of BTCNode means that many operators may have latency updates, leading to long-term potential security risks. This exposes a contradiction in the Decentralization network: the nature of Decentralization and the decentralization of Node operators may result in slow implementation of security updates.
Gate Ventures, Boon Ventures will collaborate with Movement Labs to establish a $20 million encryption fund Risk investment companies Gate Ventures and Boon Ventures announced a partnership with Movement Labs to establish a new $20 million fund aimed at promoting the development of the Move ecosystem. The fund will invest in projects around the Move programming language, covering hot areas such as Decentralized Finance and GameFi, especially solutions for data and asset transfer interoperability between the Move and EVM ecosystems.
As part of this program, supported startups will not only receive funding, but also have the opportunity to participate in exclusive entrepreneurial guidance programs and hackathon activities to accelerate innovation and market deployment. This collaboration accelerates the growth of the Move ecosystem and promotes developers and entrepreneurs to better leverage the potential of blockchain, achieving more efficient interoperability and innovative applications of Decentralization. [16]
Financing News
According to RootData, from October 10th to October 14th, a total of 5 projects announced financing, with the highest financing amount of $20 million, and a total financing exceeding $23.35 million, involving infrastructure, Layer2, social, and DeFi sectors: [17]
Ithaca —— Ithaca has announced the completion of a $20 million seed round financing with participation from Paradigm. Ithaca is developing Odyssey, which is an Open Source Layer 2 network built by Reth, OP Stack, and Conduit. Ithaca is spun out of the encryption venture fund Paradigm. Ithaca's mission is to simplify and expand the frontier applications in the Decentralizationencryption field for developers and users.
Trendies - Raised $1.75 million with Archetype as the lead investor and Base Ecosystem Fund participating. Trendies is a social platform that allows people to earn rewards for their content posted on social media platforms such as Twitter and farcaster. Users can earn rewards by creating internet memes, liking content, and staking Token.
Fission Labs - Fission Labs completes $1.6 million seed round financing with participation from SALT Fund and Kraynos Capital. The platform's first product is VC Secondary MarketToken TECH. Fission aims to bridge the gap between venture capital and decentralized finance by tokenizing private sale equity investments on the Ethereum blockchain.
Airdrop Opportunity
World Liberty Finance World Liberty Financial (WLFI) is a Decentralized Finance (DeFi) project supported by the Donald Trump family, aiming to promote the adoption of Crypto Assets. It is scheduled to start token sales on October 15, 2024, with an expected fundraising of 300 million US dollars. The project team includes multiple encryption industry experts dedicated to enhancing the dominance of the US dollar and providing secure lending services. WLFI follows the regulatory requirements of the United States Securities and Exchange Commission (SEC) and is only open to accredited investors, striving to stand out in the competitive market.
It is worth noting that the governance Token WLFI is a non-transferable Token and cannot be traded on the market. Investors cannot profit from holding the Token. The only function of the Token is to participate in platform governance voting. This is in stark contrast to other mainstream Decentralized Finance projects.
> Reminder: Airdrop plans and participation methods may be updated at any time. It is recommended that users follow WLFI's official channels to get the latest information. At the same time, users should participate cautiously, pay attention to risks, and conduct thorough research before participating. Gate does not guarantee the subsequent distribution of Airdrop rewards.
Reference:
Gate Research Institute Gate Research Institute is a comprehensive blockchain and cryptocurrency research platform that provides readers with Depth content, including Technical Analysis, hot insights, market reviews, industry research, trend forecasting, and macroeconomic policy analysis.
Click link to go now
Disclaimer Investing in the Crypto Assets market involves high risks. It is recommended that users conduct independent research and fully understand the nature of the purchased assets and products before making any investment decisions. Gate does not assume any responsibility for any losses or damages caused by such investment decisions.