In a recent report by the Wall Street Journal (WSJ), it was alleged that Tether is currently under federal investigation for potential violations related to sanctions and anti-money laundering (AML) regulations in the US. The inquiry, reportedly led by prosecutors from the Manhattan US Attorney’s Office, is said to focus on whether Tether’s stablecoin, USDT, has been used by third parties to finance illegal activities such as drug trafficking, terrorism, and hacking, or to launder the proceeds from these activities. Tether CEO Denies Investigation Claims In response to these serious allegations, Tether has issued a statement strongly criticizing the WSJ’s reporting. The company called the article “wildly irresponsible,” asserting that it is inappropriate for the WSJ to publish such definitive claims without verified sources or corroboration from authorities. The stablecoin issuer also emphasized that it has no knowledge of any ongoing investigations, characterizing the report as based on “pure rank speculation.” Tether’s CEO, Paolo Ardoino, also took to social media platform X (formerly Twitter) to further address the issue, stating, “As we told to WSJ, there is no indication that Tether is under investigation. WSJ is regurgitating old noise. Full stop.” This response underlines the company’s commitment to transparency in the face of these allegations and the increased scrutiny it has faced in recent years, not only from the US authorities but also from news outlets such as the WSJ, and its stance against what it considers to be unfounded allegations. Commitment To Combating Cryptocurrency Misuse The article from the WSJ also reportedly downplays Tether’s extensive collaborations with law enforcement agencies aimed at combating illicit activities involving cryptocurrencies. Tether highlighted its proactive measures to work with the authorities to ensure that its platform is not misused by bad actors. Their response concluded: Featured image from DALL-E, chart from TradingView.com

The crypto market is heating up as Solana leads a robust bull run, soaring past $162 and aiming for higher targets like $180 and $195. Meanwhile, Polygon (POL) remains stable, consistently trading around $0.37, demonstrating resilience amid market fluctuations. On the other hand, in the presale space, BlockDAG (BDAG) shows impressive progress, surpassing the $102 million mark. Moreover, the recent appointment of Jeremy Harkness as CTO, with his extensive expertise in blockchain and data analytics, has enhanced buyer confidence in the project. Let’s explore how these trends are reshaping the landscape of decentralized finance. Solana Bull Run: What’s Next? The Solana bull run has cleared a key hurdle at $162, showing signs of further growth. The price is now above the important resistance level, indicating that Solana may continue climbing toward the $180 mark. The Solana bull run could extend to the $195 resistance if the upward momentum remains strong. Immediate resistance is at $175, which could slow down progress. Moreover, the ongoing Solana bull run suggests that the market looks positive as it heads closer to $195. Polygon (POL) Price: What’s Next? The Polygon (POL) price has moved sideways for the past two months. The price has hovered between $0.37 and $0.42. Over the last week, it has stayed within a narrow range from $0.36 to $0.37. Right now, the Polygon price remains at $0.37, indicating a steady trend. On the 4-hour chart, the Polygon (POL) price is hovering between the $0.36 support and $0.38 resistance levels, seemingly awaiting a clearer directional cue from traders. BlockDAG Presale Breaks $102M Mark as New CTO Steps In BlockDAG, a top decentralized crypto in 2024, is making big waves. It has already exceeded its initial presale goal, raising a substantial $102 million, and is now swiftly moving towards its $600 million target. This indicates BlockDAG’s significant growth and the strength of its foundation. Since its launch, BlockDAG’s coin value has surged by an impressive 1960%, showing it’s firmly on track with its plans. Adding to the excitement, Jeremy Harkness has taken the role of new CTO. Jeremy is deeply knowledgeable about decentralized technology, which means he understands blockchain intricacies and how to apply them effectively. His background in data analytics is a great advantage, aiding him in making smart decisions that guide BlockDAG’s strategy forward. BlockDAG is capturing attention in the crypto market due to its technological advancements and growing base of supporters. The strong community interest and the success of its ongoing presale are positioning it as a solid choice for those seeking a reliable crypto investment. Analysts are now predicting that BDAG’s value could hit $20 by 2027. As it edges closer to the $600 million goal, BlockDAG is certainly a name to watch in the cryptocurrency space. Top Decentralized Crypto in 2024? As we round off our discussion, Solana continues to ascend, and Polygon shows stable performance. However, BlockDAG captures real attention, as its presale has soared beyond $102 million. Moreover, Jeremy Harkness’s appointment as CTO further increases BlockDAG’s momentum. This strategic move is sparking rapid growth and engaging more people in its community. Analysts are now predicting it might reach $20 by 2027. Missing out this opportunity could mean potentially passing up a golden ticket in the crypto universe. Join BlockDAG Presale Now: Website: https://blockdag.network Presale: https://purchase.blockdag.network Telegram: https://t.me/blockDAGnetworkOfficial Discord: https://discord.gg/Q7BxghMVyu Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

Bitcoin currently ranges between $65,000 and $69,500 following two weeks of bullish price action, sparking renewed optimism among analysts and investors. The prevailing sentiment is that BTC is on the verge of reaching new all-time highs in the coming weeks, with confidence building that March’s cycle top predictions may have been premature. Key metrics from CryptoQuant reveal that Bitcoin is still far from typical cycle-top conditions, instead signaling a bullish outlook as we move into November. As the U.S. election approaches November 5 and macroeconomic factors continue to shift, price action is expected to remain unpredictable and volatile. Market participants are watching closely, expecting that geopolitical and economic events could influence BTC’s trajectory. Given this context, many believe the next major move for Bitcoin could catalyze a fresh leg up, potentially breaking through previous highs. Bitcoin Calm Before The Storm? Bitcoin is holding firm above $67,000, showing resilience as it edges to a potential breakout above $70,000. However, the current price action indicates that Bitcoin may consolidate below this key level before moving up to new highs in the next leg. Market participants closely watch BTC’s behavior around these price levels, as a sustained push above $70,000 could set the stage for significant gains. CryptoQuant analyst Axel Adler recently shared critical insights on X, highlighting the current Long-Term Holder (LTH) to Short-Term Holder (STH) SOPR Ratio, which sits at 1.8. This metric is often used to gauge selling pressure and market sentiment, with higher levels indicating increased profit-taking that could signal a market peak. According to Adler, when this ratio climbs to around 7, Bitcoin will be nearing a cycle culmination. The ratio’s bullish cross with its 90-day moving average reflects a positive outlook, supporting the narrative that BTC remains well below its cycle top. This metric’s movement and broader market strength paint a favorable picture for Bitcoin’s price action in the coming weeks. The data suggests that Bitcoin still has room to grow within this cycle, providing confidence to long-term holders and investors looking for continued upside. BTC Technical Levels Bitcoin is trading at $67,500, facing challenges after failing to maintain its bullish structure on the 4-hour chart. The price couldn’t set a new high above $69,500, marking a potential shift in momentum. A crucial support level now sits at $65,000, the local low that previously held the bullish trend intact. Holding above this level is essential to prevent a broader retrace and maintain confidence among bulls. Currently, price action remains indecisive, leaving the direction for the coming days unclear. A breakout above $69,500 would restore the bullish structure, likely drawing more buyers into the market and signaling another rally attempt. Conversely, a break below the $65,000 support would signal a retrace, potentially leading BTC to lower demand zones as bulls look to regroup. The current consolidation phase highlights the importance of these levels in determining Bitcoin’s short-term trajectory. With both bulls and bears vying for control, BTC’s ability to hold above $65,000 will be crucial to retaining bullish sentiment. Featured image from Dall-E, chart from TradingView

The mood in the crypto world is to act when the time is right. Cardano (ADA) is keeping traders on their toes with hints that its price might jump to $0.54, promising rewards if the momentum holds up. Polkadot (DOT), however, is finding it hard to keep up, falling towards $4 as more people sell off, making others wary of its next steps. Meanwhile, there’s growing talk about BlockDAG possibly getting added to big exchanges, helped by its advanced technology and successful presale. In just a few months, BlockDAG (BDAG) has raised $102 million in presale, positioning itself as a rising star in crypto. With increasing interest, experts foresee BDAG’s price hitting $20 by 2027, potentially offering big returns to early supporters. Cardano Surge: Growing Hope for ADA’s Next Step Cardano (ADA) is catching traders’ attention with forecasts of a climb to $0.54. ADA has stayed strong above the crucial $0.33 mark, boosting optimistic views. Top analyst Carl Runefelt points out a surge could happen if the price breaks out of the current range, possibly leading to a 58% increase. Currently at $0.34, ADA has slightly dropped from $0.37 earlier this week. Getting back to $0.40 could mean gaining momentum, setting ADA on a path to a lasting upward trend. But, if Cardano can’t push past, it might have to brace for more of the same. Polkadot Price: DOT’s Battle to Bounce Back Polkadot (DOT) keeps struggling to hold an upward trend, now priced around $4.21. After briefly going above $4.50, DOT saw a downturn as sellers came back. Over recent days, it has dropped below its 20 and 50-day SMAs, sparking worries of further falls. DOT’s recent tries at a comeback were uneven. After a 5.05% rise earlier in the week, it faced resistance at $4.50 and dropped to $4.32. With a negative outlook taking hold lately, market watchers think DOT might revisit the $4 mark. BlockDAG Nears Big Exchange Listings as Presale Reaches $102M! BlockDAG is catching a lot of attention as more people talk about its possible addition to big exchanges. This interest comes after BlockDAG made great tech progress, including a successful Testnet launch and nearing completion of Mainnet development. These developments have spiked the demand for BDAG coins, catching the eye of major exchanges, which are expected to start offering the coin after the presale. With each achievement, BlockDAG is getting closer to being a key player in the next major crypto surge. Experts are watching BlockDAG’s presale closely, seeing it as a sign of its growth potential. In just a few months, over 14.4 billion BDAG coins have been sold, raising $102 million. The current price of BDAG coins at $0.0206 shows a huge 1960% increase for early holders from the initial price of $0.001. With 140,000+ unique holders around the world, BlockDAG has shown its broad appeal to those looking for promising crypto projects. Analysts believe that once BDAG is listed on major exchanges, it could boost its liquidity and visibility in the market. This is expected to drive its value up, benefiting those who got in early with higher returns. With the ongoing interest, experts think the price of BDAG coins could reach $20 by 2027, giving early backers a return of 20,000 times their initial outlay. As each batch of the presale sells out quickly, the current batch 24 is almost finished, suggesting another price jump soon. This makes it a great time to get involved in this quickly expanding crypto project before the price climbs even more, possibly making BDAG hard to obtain. Next Bull Run Crypto While Cardano shows signs it might jump to $0.54 and Polkadot faces challenges, staying around $4, BlockDAG stands out as a promising choice in the new bull-run crypto market. With its cutting-edge technical progress and the presale already bringing in over $102 million, BlockDAG is quickly drawing interest from major exchanges. With the current presale batch almost sold out and set to push BDAG prices up, now is the perfect time to secure it at a lower price and tap into the potential for a massive 20,000x ROI. Join BlockDAG – Act Now Before Prices Increase: Presale: https://purchase.blockdag.network Website: https://blockdag.network Telegram: https://t.me/blockDAGnetwork Discord: https://discord.gg/Q7BxghMVyu Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

Known meme coin Shiba Inu (SHIB) is hogging the headlines; massive accumulators are increasing efforts due to a volatile market. The latest data shows inflow from large holders has increased by 555% within the last 90 days, which means major stakeholders are taking positions to capitalize on an expected increase in value. This is especially significant due to the total bearish sentiment that many are experiencing across the crypto market. Shiba Inu: Growing Market Trend While the market sentiment seems still negative, the current trend of Shiba Inu shows a developing resilience. According to Santiment, while the broader crypto market was marked by fear and uncertainty, the negative sentiment in SHIB has gone down dramatically by 718% within just one day. This sharp decline in percentage indicates growing investor pessimism, especially considering the fact that the price of SHIB had dropped from its weekly high at $0.00001929 below $0.000017. But this silver lining, as it is, shows that the 7-day sentiment for SHIB has spiked upward by over 2,800% and might be an antidote for the asset to get a bounce-back. What is even more interesting is that it may be an opportunity for brilliant traders to play along. If the sentiment went bearish, then, generally speaking, price moved in the opposite direction. In the case of weighted sentiment being positive at 339% for 30 days for SHIB, hope is still not completely lost and maybe, it will be rallying within the coming days. Whale Activities Up The significant increase in large-holder inflows is particularly telling. Over the last three months, these inflows surged by 554.88%, indicating that major investors see value in accumulating SHIB at current prices. In fact, there was also a 163% increase in inflows over the past month, and even a modest uptick of 1.29% in the last week. Larger Holders End August With Neutral Positions Despite these positive indicators from large holders, trading volume has seen a slight decline of 5.23% in one day. This drop indicates that many investors are still hesitant to make significant moves in this volatile environment. They may be waiting for clearer signals before committing to trades. Further out, SHIB appears to be on an uptrend at a much slower pace, with a projected 90% rise for the next six months, possibly due to growing interest in the long-term potential, data from CoinCheckup shows. Even more encouraging, analysts also project a strong rise of 76% over the next year, clearly outlining positive growth expectations commensurate with the incrementing adoption of SHIB and its use cases. Featured image created with Dall.E, chart from TradingView

Miami, Florida, October 25th, 2024, Chainwire Valhalla, Floki’s PlayToEarn Massively Multiplayer Online Role-Playing Game (MMORPG) blockchain game, has teamed up with the Hong Kong International Cricket Sixes as its official partner, marking the much-anticipated return of the tournament after a seven-year break. From November 1 to November 3, top international teams will face off in this fast-paced cricket format at the Tin Kwong Road Recreation Ground. The Cricket Sixes has been a celebrated event since its debut in 1992, with legendary players like Sachin Tendulkar, MS Dhoni, Shane Warne, and Sanath Jayasuriya gracing the field over the years. Valhalla’s partnership with the Sixes reflects the synergy between competitive sports and the blockchain gaming world. The matches will be broadcast across multiple regions by Star Sports Network, and in India, viewers can catch the action on Fancode, one of the country’s largest sports OTT platforms. On the ground, key branding assets will include ground perimeter boards, mid wicket logo mats, and the presentation backdrop, ensuring strong visibility for both Valhalla and the Sixes event. This year’s tournament will feature 12 teams divided into four groups. In Group C, India, led by stars like Robin Uthappa and Kedar Jadhav, will face off against Pakistan and the UAE. Group A includes South Africa, New Zealand, and host nation Hong Kong. Group B brings together Australia, England, and Nepal, while Sri Lanka, Bangladesh, and Oman make up Group D. The top two teams from each group will progress to the quarterfinals, with 29 matches set to take place over three action-packed days. About Hong Kong Sixes The Hong Kong Cricket Sixes is a six-a-side international cricket tournament held at the Kwong Road recreational ground from 1st to 3rd Nov. The 2024 edition will be conducted after a 7 year gap and 12 of the best cricketing nations will battle it out for top honors. Uses can learn more at www.hkcricket.org About Valhalla Valhalla is a blockchain-based MMORPG inspired by Norse mythology, offering players the chance to discover, tame, and battle with creatures called Veras. The game features a player-driven economy and a hexagonal battlefield designed for dynamic combat. Users can learn more at Valhalla.game. Website | YouTube | Telegram | Instagram | TikTok | Discord | Facebook | Reddit | Twitch Contact Community Relations Officer Pedro Vidal FLOKI [email protected]

The fourth quarter is always a bit of a frenzy but this year there are many factors at play like the end-of-year profit-taking, the U.S. presidential election, and projections for 2025. The U.S. presidential election is generating massive debates in the crypto market, with crypto projects picking sides. Recently, XRP Co-founder, Chris Larsen, showed his support for presidential candidate Kamala Harris with a generous donation for her campaign. In other news, NEAR Protocol is being watched closely as it puts huge numbers on the board and is primed for a big breakout. But BlockDAG (BDAG) continues to receive the most attention as crypto enthusiasts explore its rebranded website—a new look more suited for an easy user experience. The project is making waves lately, as early backers have seen a 1960% ROI & presale has surged past $102 million. The rebranding, while integral to BlockDAG’s commitment to its community, is a cherry on top of these impressive achievements. XRP News: Ripple Co-Founder Donates to Kamala Harris Campaign In the latest XRP news, Ripple co-founder Chris Larsen has made headlines by donating over $11.8 million to the Kamala Harris campaign as the 2024 U.S. presidential race heats up. This significant financial contribution has drawn attention from both the political and cryptocurrency communities. Despite the political developments, XRP’s price remains in a consolidation phase, currently trading at $0.53. After facing pressure earlier in October, XRP has found support around the $0.50 level, holding steady. Investors are closely watching the market as tightening Bollinger bands indicate potential price movement in the short term. Traders are speculating that XRP could make a move to the upside in the coming days. Will The Near Protocol Price Surge Hit $7? The Near Protocol price surge has captured traders’ attention, with the cryptocurrency showing a 40% increase in recent days. A symmetrical triangle formation in NEAR’s technical indicators suggests that the token is poised for a breakout. NEAR’s total value locked (TVL) has risen by 34.44% over the past two months, signalling a growing interest in the protocol. Open interest in NEAR futures contracts has also increased by 4.8%, indicating strong engagement from investors. With Near Protocol’s integration of Bitcoin smart contracts and its ecosystem expansion, analysts are eyeing a potential price rally toward the $7 psychological level, though a dip below $4.80 could halt the bullish momentum. BlockDAG Rebrands its Website, Proves Its Commitment To The Community BlockDAG continues to shine in the crypto market, as its presale crosses $102 million, marking a key moment for the network. Now it has launched its rebranded website, designed to enhance user experience. This reinforces BlockDAG’s commitment to continued adaptation and easy scalability. BlockDAG has championed the idea of being community-orientated and this rebrand validates that sentiment and re-engages with BDAG holders. The project has also launched a new brand video, along with the website’s rebrand. It showcases BlockDAG’s vision for pushing the boundaries of blockchain technology, emphasising its competitive edge, and letting other industry leaders know it is a force to be reckoned with. BlockDAG has made a mark in the crypto market by making history with its impressive presale. The presale is currently in batch 24 and has sold over 14.4 billion. With the coin currently priced at $0.0206, early backers from the initial batch have seen an impressive 1960% ROI. The BDAG coin’s value is set to rise in the next batch 25 and the community’s excitement is building around the increase in BDAG’s adoption. This brand launch has been supported by significant whale activity drawing in more traders eager to be part of this fast-moving network and enhancing BlockDAG’s position as a top trending crypto. Which Will Remain The Top Trending Crypto? The crypto community is a whirlwind of news cyclones and data points as XRP looks for a breakthrough amid all the commotion surrounding the presidential election and NEAR protocol closes in on a rally. During this turbulence, BlockDAG has remained a pillar of stability, hitting its targets consistently and gracefully. The rebrand has attracted renewed interest in the project and reinforced the narrative that BlockDAG values its community’s role in driving its growth. With BDAG only halfway through its presale, the remaining batches are expected to move quickly as adoption accelerates. Join BlockDAG Presale Now: Website: https://blockdag.network Presale: https://purchase.blockdag.network Telegram: https://t.me/blockDAGnetworkOfficial Discord: https://discord.gg/Q7BxghMVyu Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

As per a recent Binance Research report, Spot Bitcoin (“BTC”) Exchange-traded funds (“ETFs”) have amassed more than 938.7K BTC (~US$63.3B), which, when combined with other funds of a similar kind, represents 5.2% of the entire supply of Bitcoin. The report further mentions that these ETFs are removing an average of almost 1.1K BTC each day, fueling continuous market demand, with net flows surpassing 312.5K BTC (~US$18.9B) and positive flows in 24 of 40 weeks. Spot BTC ETF net inflows have surpassed ~US$18.9 billion in less than a year, compared to ~US$1.5 billion for Gold ETFs, outperforming early Gold ETFs. Compared to only 95 institutions in the first year of Gold ETFs, over 1,200 institutions are now investing in these ETFs. Etheruem (“ETH”) ETFs have had lower demand, with 43.7K ETH (~US$103.1M) in outflows and negative flows in 8 of 11 weeks, but Bitcoin ETFs have prospered. When adjusted by spot trading volume, Bitcoin ETFs have a far bigger influence on their individual markets. Eighty percent of the demand for Bitcoin ETFs comes from non-institutional investors, but institutional holdings have increased by thirty percent since Q1. The biggest increase was seen among investment advisors, whose holdings rose 44.2% to 71.8K BTC. Even though it could take a few years to completely open up BTC ETF access to advisors, banks, and broker-dealers, this slow procedure is anticipated to spur wider use in the longer run. Wider market trends indicate that Bitcoin ETFs are becoming one of the fastest-growing ETFs and a significant market indicator. Out of 2,000 ETF launches this decade, BlackRock’s IBIT and Fidelity’s FBTC were in the top 10 assets under management (or “AUM”). Since the beginning of 2024, Bitcoin’s correlation with the S&P 500 has increased, suggesting a rising convergence with traditional finance (“TradFi”) and reflecting changing investor opinion toward Bitcoin as a hedge against macroeconomic uncertainty as well as a risk-on asset. Currently accounting for an average of 26.4% of BTC spot volume (with a high of 62.6%), spot BTC ETFs are causing second-order effects such as greater dominance of Bitcoin, enhanced market efficiency, and decreased volatility. Even if it’s early, this validation and liquidity are encouraging wider adoption, increasing venture capital interest, bringing in new customers, and growing the on-chain footprint. One of the next phases and a crucial route for institutions to get on-chain exposure is the tokenization of real-world assets, or “RWAs.” While options, possible staking yield inclusion, and new asset ETFs are still in their infancy, strong demand is propelling the growth of crypto ETF products across international markets. While the overall goal of these improvements is to increase liquidity and adoption, the success of these innovations will be greatly influenced by changing regulatory regimes. Macroeconomic factors and policy are influencing cryptocurrency markets more and more in the future, which makes macro indicators important as they affect flow dynamics, institutional support, and the potential reach of products like crypto ETFs. Capital inflows outside of BTC ETFs will be necessary for sustained development, highlighting the need of monitoring crypto market triggers as well. More investment in Bitcoin, Ethereum, and the larger cryptocurrency ecosystem is anticipated as blockchain-native products proliferate and promote on-chain usage.

Solana’s trading volume is down 20% in the past 24 hours. Solana faces increased sell pressure despite recent bullish momentum. Solana (SOL) is currently trading at $173, reflecting a slight decline of 0.49% over the past 24 hours, with trading volume down 20%. Despite this recent downturn, SOL has gained approximately 13% in the last week, previously hitting a three-month high of $179. The bullish momentum seen over the past two weeks has sparked expectations of increased sell pressure, leading to a notable surge in short positions. Meanwhile, in the last five days, SOL has experienced intensified selling pressure, as traders look to secure profits following its impressive rally. Data from Coinglass indicates that over $7 million worth of short positions were liquidated within the last 24 hours, with shorts accounting for 64.54% of market activity during this period. Furthermore, the long/short ratio for SOL dropped from 1.05 on September 20 to 0.95, before recently rising to 1.1, highlighting a significant increase in short positions. The altcoin recently surpassed a resistance range between $161 and $163, spurred by heightened short liquidations. At the time of writing, SOL is priced at $174 but has entered overbought territory according to the Relative Strength Index (RSI), indicating potential for intensified sell pressure. Nevertheless, the cryptocurrency is eyeing a new resistance zone at $185, following a significant increase in open interest, which surged to $3.26 billion, the highest since April. SOL Price Chart, Source: Sanbase Network Growth And Resistance Levels Amid this volatility, the Solana-based decentralized exchange Raydium (RAY) has drawn attention for surpassing Ethereum in fee collection, reflecting increasing activity within the Solana ecosystem. RAY has seen a remarkable 36% price surge over the past week, positioning it at a seven-month high of $2.94. As SOL grapples with sell pressure, traders remain cautious. A potential drop below the critical support level of $161 could trigger significant liquidations, leading to further declines. Conversely, a breakthrough at $175 might pave the way for a rally towards $186, offering a glimmer of hope for bullish sentiment in the near term. Highlighted News Of The Day Binance Futures Listing Boosts MOODENG by 128% in 24 Hours

MOODENG rises 128% after Binance announces USD-Margined perpetual contract listing. Trading volume surges 293%, indicating heightened investor interest in MOODENG. The Solana-based meme coin, Moo Deng (MOODENG), has gained notable attention in the cryptocurrency market, with its value increasing by 128.4% in the last 24 hours. Currently trading at around $0.1649, MOODENG has also seen a 293% rise in trading volume. This price action follows Binance’s announcement of a USD-Margined perpetual contract for the token, which became effective on October 25 at 10:00 UTC. Notably, Binance’s introduction of the MOODENGUSDT perpetual contract allows users to trade with leverage of up to 75x, providing opportunities for traders to manage their positions actively. The funding rate is capped at 2.00%, helping to regulate the costs associated with holding positions. The contract features a tick size of 0.00001, and funding fees settle every four hours. It may assist traders in making informed decisions. Moreover, this listing is part of Binance’s ongoing strategy to expand its offerings of memecoin. It responds to the growing interest in this segment of the market. The market’s favorable response to MOODENG stems from its unique branding. It draws inspiration from a viral baby hippo from Thailand. Upward Trend To Be Followed? Recent data highlights that Moo Deng’s futures open interest (OI) has increased by 173%, reaching $57.47 million, while derivatives volume has also risen by 234% to $327.77 million. This indicates a rise in investor engagement and interest in the token, suggesting a potential upward trend. MOODENG Price Chart, Source: TradingView However, traders are advised to remain cautious. Binance reserves the right to adjust the specifications of the futures contract based on market conditions. Such adjustments could impact trading strategies. As market participants monitor these developments, memecoin community believes that MOODENG appears to be a significant asset within the memecoin space, attracting attention from both traders and investors seeking new opportunities in the dynamic cryptocurrency landscape. Highlighted News Of The Day Will Ethereum Break Free from Its Mixed Market Signals?

A top crypto analyst has issued a bold prediction for Ethereum, forecasting it will outperform both Bitcoin and Solana in the coming months. Taking to social media platform X, a crypto analyst known pseudonymously as @IamCryptoWolf highlighted that Ethereum is still bullish, with price targets reaching up to $12,000. This analysis comes in light of a 6.22% decline in the price of Ethereum in the past seven days and a continued increase in the Bitcoin dominance. Analyst Says Ethereum Will Outperform Bitcoin Ethereum has mostly lagged behind Bitcoin in price performance since the current market cycle began, struggling to gain momentum above the $3,000 mark since July. Ethereum bulls have faced challenges in attracting significant inflows, which has kept the price below key levels while Bitcoin has surged. Bitcoin recently climbed back above $67,000 and is now approaching its yearly high of $73,737. Solana has also found its way above $170 again and could continue on the momentum to break above its yearly high of $202. However, despite Ethereum’s underperformance relative to these two crypto heavyweights, crypto analyst @IamCryptoWolf believes the trend is going to reverse in the second half of the cycle. The analyst provided his Ethereum outlook in reference to its price movements on the 3-day candlestick chart. The chart shows Ethereum rebounding off the bottom trendline of an ascending triangle, indicating the potential for an upward move. Consequently, the analyst projected a full breakout of multiple price resistances when the momentum finally rolls into Ethereum. Should this breakout occur, @IamCryptoWolf predicts Ethereum will surpass Bitcoin and Solana in performance during the second half of this bull cycle. He further noted a price target range for Ethereum’s surge, placing the lower boundary at $8,428, with a high-end target reaching up to $12,000. This projected breakout has sparked renewed interest in Ethereum’s ability to regain a leading position, especially among investors who are still waiting for an altcoin rally phase led by Ethereum. What’s Next For ETH? At the time of writing, Ethereum is trading at $2,472, having lost about 3% of its value in the past 24 hours. This sort of performance has left many ETH investors feeling uncertain about the asset’s near-term outlook. According to data from IntoTheBlock, about 51.40% of addresses that bought in between $2,106.27 and $2,855.96 are in losses, not to talk of those that bought above $2,855.96. Interestingly, @IamCryptoWolf addressed this trend among ETH investors in another post on social media platform X. Here, he highlighted that Ethereum is still bullish despite the underperformance. The analyst explained that Ethereum’s current price movement appears to be forming either an inverted head and shoulders or an ascending triangle pattern on the charts, both of which are traditionally seen as bullish formations in technical analysis.

Flare, the blockchain for data, has released a vital product for global blockchain development on Google Cloud Marketplace. Web3 developers will be able to launch a complete blockchain node in a matter of minutes and at a reduced cost thanks to the availability of Blockchain Machine Images on Google Cloud Marketplace. Blockchain deployment has advanced significantly with Flare’s Blockchain Machine Images. In contrast to other solutions that only support Bitcoin and Ethereum, Flare’s solution provides strong scalability and stability. It supports over 20 blockchain networks, and there are plans to expand to include other leading blockchains in the future. All of Flare’s testnets and mainnets are included in this. Nodes for Flare, Bitcoin, Ethereum, and several more chains may now be quickly deployed and updated by developers with a single click. Without having to go through the time-consuming process of deploying and synchronizing a whole node, companies can now utilize Google Cloud Marketplace to start running a node practically instantly and use it to power dapps, data streams, and platforms. Nodes may be deployed and upgraded with a single click thanks to Flare’s Blockchain Machine Images service, which was created with speed, ease of use, and adaptability in mind. This enables the quick introduction of new node versions. It frees developers from having to operate a node for every blockchain they want to query, as well as from the hassle of patching and maintaining nodes. Additionally, it allows developers to concentrate more on their main skills. Businesses may operate nodes using Blockchain Machine Images’ affordable solutions, which eliminate the need for them to manage their own infrastructure or depend on other providers. Flare’s range of blockchain cloud services has grown with the addition of Blockchain Machine Images to Google Cloud Marketplace. Through Google Cloud, Flare already offers an API Portal that makes it simple for developers to conduct onchain transactions and access the most recent versions of the most popular blockchains. This is furthered by Blockchain Machine Images, which offers developers a potent way to access both historical data and the most recent blockchain state. Blockchain Machine Images provides applications that need unrestricted blockchain data and data indexing, with no restriction on RPC calls. Josh Edwards, Flare’s VP of Engineering stated: Dai Vu, Managing Director, Marketplace & ISV GTM Programs at Google Cloud stated: Fintechs will find it simpler to add blockchain data into their current financial applications and corporations will find it easier to start blockchain pilots thanks to Flare’s GCM integration, which streamlines node deployment.

The quest for the next big thing intensifies as the crypto market enters a bullish timeframe, or easy mode, as it is popularly called in the crypto scene. While top altcoins like Binance Coin (BNB) have limited upside potential, DTX Exchange (DTX), one of the new ICOs, is explosive, fueling a shift in sentiment. This emerging cryptocurrency has plenty of room for growth, making it a new investor favorite after crossing the $5.5 million fundraising goal. Preparing to shake up the crypto space and the wider financial landscape, it is one of the new DeFi projects to keep on the radar. Meanwhile, Chainlink (LINK) combines AI, oracles and blockchains to solve unstructured data challenges in finance. DTX Exchange (DTX): A Strong Crypto Contender Against Binance Coin (BNB) and Chainlink (LINK) DTX Exchange (DTX) is on investors’ radars for several reasons, spanning its growth prospects, innovative approach to trading and rapidly expanding community. The presale is in the fourth round and costs just $0.08, underpriced and with plenty of room to run. Industry experts predict a 65x upswing in value after its launch, positioning it as the best new crypto to invest in this quarter. It recently got pre-listed on CoinMarketCap—a vote of confidence. Meanwhile, the community, comprising investors and traders, has been growing fast, as evidenced by the ICO crossing $5.4 million. Primed to reshape the $10 billion global trading market by blending the best elements of centralized and decentralized exchanges, it is a new altcoin to keep on the radar. Some of its unique offerings will be wallet-based trading, an on-chain order book to maintain transparency and non-custodial storage solutions for asset security, setting it up for adoption. Binance Coin (BNB) Targets $1,000 Binance Coin (BNB) is the native utility token at the heart of the Binance ecosystem, fueling projects like the BNB Smart Chain and the largest crypto exchange, Binance. It is one of the sought-after, with its key use cases including payment and participation in launchpools and exclusive token sales. It gained significant traction this week, briefly crossing $600. However, the BNB price ranges between $613 and a low of $538 on the weekly charts, changing hands above $580. With a breakout on the cards, Binance Coin (BNB) is a top crypto to invest in. As the year’s end draws approaches, Binance Coin (BNB) is tipped to replicate its June performance after going on a price discovery—a jump above $720. It is tipped to rally past $1,000 before the close of the year, making it a good crypto to buy for modest gains. Chainlink (LINK): Combines AI with Oracles and Blockchains to Solve key Challenges in Finance Popularly known as a blockchain abstraction layer, Chainlink (LINK) connects smart contracts to critical off-chain information. It allows blockchains to securely interact with external data feeds, facilitating the creation of cutting-edge dApps. In a recent development, hailed as groundbreaking, Chainlink (LINK) demonstrated how AI, oracles and blockchains can “solve a decade-long unstructured data challenge in finance.” This strategic partnership, announced via an X post, includes Euroclear, Swift, Franklin Templeton, UBS, Sygnum Bank, Avalanche and zkSync, among others. Meanwhile, the Chainlink price is up over 4% in the past 7 days, retailing above $11.7. With a potential monthly close above $15, it is one of the best altcoins to invest in. Moreover, it is on track for a new all-time high, gearing up for a rally past the 2021 peak of $52.8—one of the best coins to invest in. Conclusion While Chainlink (LINK) is in the spotlight after a recent strategic partnership aimed at addressing key challenges in finance, DTX Exchange’s (DTX) upside potential rivals Binance Coin (BNB). This new blockchain-based project aims to reshape the wider trading scene through a hybrid approach, hinting at future mass adoption. Learn more: Buy Presale Visit DTX Website Join The DTX Community Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

Ethereum shows a slight recovery from its recent lows, hitting an intraday high of $2,557. The CMF indicates slight buying pressure, and the RSI of 57 shows a neutral to slightly bullish sentiment. In the last 24 hours, the cryptocurrency market has shown neutral price movements, largely influenced by Bitcoin’s return to the $67.7K level. This stabilization has helped the overall market cap rise by 3.24%. However, Ethereum, the leading altcoin, has diverged from this trend, experiencing a price drop over the week. Ethereum’s price increased by just 0.68% over the past day, trading at $2,541, although it faced downward pressure in earlier trading hours. The token saw an intra-day low of $2,462 before entering some positive momentum. Despite other cryptocurrencies benefiting from the recent “uptober” rally, Ethereum has failed to join the upward trend, indicating a struggle to break through the $2.7K barrier. On the other hand, Ethereum co-founder Vitalik Buterin has recently been active on social media, sharing updates. Earlier this week, he proposed solutions to reduce block production and stake centralization. His efforts during the “Scourge” phase aim to address the emerging technical and governance challenges facing Ethereum. ETH/BTC Exchange Rate: A Sign of Weakness? Analyzing the Ethereum price chart reveals minimal price movement over the past few weeks, with a 3.11% decline. Zooming out, ETH started the week with trading at around $2,700. However, the asset’s price gradually fell below $2,600 on October 24 and has since fluctuated between $2,570 and $2,470. This reflects a broader bearish sentiment, especially as the ETH/BTC exchange rate recently fell below 0.037, marking its lowest since April 2021. This decline suggests that Ethereum is losing ground against Bitcoin, raising concerns about its short-term performance. Technical indicators show a mixed sentiment for Ethereum. The Chaikin Money Flow (CMF) is at 0.02, hinting at slight buying pressure, while the Relative Strength Index (RSI) stands at 57, suggesting the asset is neither overbought nor oversold. Looking ahead, if Ethereum can maintain trading above the $2.5K mark, there’s potential for a rally towards $2.6K and even $2.7K. ETH is expected to trade $2,364 to $2,745 in the upcoming days.

Somnia, a high-performance Layer 1 that is compatible with EVM and optimized for entire worlds’ data fully onchain, has released a updated version of its litepaper. The project’s major improvements, such as the new Multistream consensus model, are outlined in depth in the updated document. Somnia, which aims to enable the next generation of mass-consumer apps, will be able to process 400,000 transactions per second with sub-second block finality thanks to the Multistream consensus. Somnia is creating a $10 million ecosystem grant program to assist link potential developers with top Web3 investors, such as CMT Digital, Spartan Capital, and Mirana Ventures. The program’s goal is to assist developers in producing extensive, real-time applications for social platforms, gaming, metaverses, and other domains. The architecture that will support Somnia’s high performance and throughput while preserving a high level of decentralization is revealed in the new litepaper. This innovative architecture incorporates the Multistream consensus algorithm, which enables the blockchain reach sub-second block finality, and sophisticated compression algorithms that enable Somnia to transfer data between nodes up to 20 times more effectively than existing blockchains. Additionally, Somnia has ICEdb, a custom-built database that allows for typical read/write speeds of 70–100 nanoseconds. Single-thread sequential execution, which the blockchain is geared for, performs better than conventional parallel models, particularly during periods of high transaction activity. The advantages for developers of deploying games and social apps on a scalable blockchain that can accommodate large numbers of Dapps while preserving a very low cost environment are also described in the litepaper. The Virtual Society Foundation, an autonomous organization founded by Improbable, a British business that has led the way in creating virtual worlds for more than ten years, is responsible for developing Somnia. In 2022, MSquared raised $150 million to provide initial funding to the Virtual Society Foundation. Through collaborations with Yuga Labs, Kodas, Otherdeed Expanded, Bored Ape Yacht Club, and Mutant Ape Yacht Club NFT holders now have additional utility for their digital collectibles. NFT holders will be able to enjoy games and completely on-chain interoperable virtual experiences with the introduction of Somnia’s L1. NFT avatars may be used in MSquared virtual worlds, such as the official MLB virtual ballpark and Kosmopop concerts with Kpop artists like TWICE. Additionally, Somnia created Dream Builder, a collection of tools that enable users to realize their imaginative ideas, from creating immersive worlds and game-like experiences to converting 3D files into interoperable metaversal objects. More functionality that is now off-chain may finally be put on-chain thanks to the Somnia blockchain’s performance features. For mass-consumer apps like gaming and social platforms, this will be particularly crucial. The development of on-chain Limit Order Books, which will provide users with the security assurances of a decentralized blockchain and the experience of a centralized exchange, is another way that Somnia’s high-performance blockchain may enhance trade and attract DeFi applications. Somnia will be the best technology for these use cases, making it the obvious choice for developers and creators. Unlocking these new use cases, along with others that have not yet been envisaged, will propel the widespread adoption of blockchain and Web3.

In a research paper dated October 24, Geoff Kendrick, Global Head of Digital Assets Research at Standard Chartered Bank, predicts that Bitcoin could surge to $125,000 by the end of the year if former President Donald Trump secures victory in the upcoming US presidential election. When Bitcoin Could Hit $125,000 Kendrick’s analysis hinges on the interplay between Bitcoin’s price movements and the US political landscape. “We use daily BTC vol levels and popular strike levels to estimate post-election price moves,” he states in the report titled Bitcoin – Post-US Election Playbook. According to Kendrick, Bitcoin prices have been ascending in recent weeks, aligning with other trades favored by Trump supporters. The report forecasts that Bitcoin is likely to reach approximately $73,000 by Election Day on November 5, nearing its all-time high of $73,800 recorded in March. “Our base case is that Bitcoin rises to around $73,000 by Election Day, catching up to betting-market probabilities of a Trump win,” Kendrick notes. Betting markets are reflecting increasing confidence in a Trump victory. “The average betting odds of a Trump victory now stand at 59%, according to RealClearPolitics. Furthermore, conditional probabilities in specific betting markets (Polymarket) suggest a 75% chance of a Republican sweep if Trump wins the presidency,” the report highlights. Should Trump win, Kendrick anticipates immediate bullish momentum for Bitcoin. “Assuming a Trump victory, options break-even implies a further price rise of about 4% when the presidential outcome is known, and around 10% in total within a few more days,” he explains. The potential for a Republican sweep of Congress amplifies this outlook. “If the Republicans sweep Congress, our year-end target level of USD 125,000 should come into view,” Kendrick asserts. This scenario is underpinned by significant open interest in Bitcoin call options expiring on December 27 at the $80,000 strike price, suggesting rapid movement toward that level. What If Harris Wins? In contrast, if Vice President Kamala Harris emerges victorious, the report suggests a temporary setback for Bitcoin prices. “If Harris wins, we see BTC initially trading lower but still ending 2024 at fresh highs around $75,000,” Kendrick projects. This implies a resilient long-term outlook for Bitcoin regardless of the election outcome, though the magnitude of gains would differ. Kendrick emphasizes the role of options market data in gauging potential price movements. “Options info helps estimate initial post-election price moves,” he states. The heavy trading volumes and popular strike levels serve as indicators of investor expectations and market positioning ahead of the election. The recent dip in Bitcoin’s price to a local low of $65,200 was addressed as well. Kendrick believes this is “likely to be the last before the U.S. presidential election,” suggesting that any short-term corrections may be overshadowed by the impending political developments. At press time, BTC traded at $67,520.

Thailand’s SEC proposes regulations for institutional investment in crypto assets. Binance Thailand’s CEO sees the shift as essential for crypto market maturity. Thailand’s crypto landscape is seeing a significant transformation, moving from a retail-driven market to one focused on institutional investment, according to Binance Thailand CEO Nirun Fuwattananukul. In a recent opinion piece for the Bangkok Post, Fuwattananukul praised the latest regulatory proposal by Thailand’s Securities and Exchange Commission (SEC) as a “vital step” toward the nation’s ambitions to become Southeast Asia’s fintech hub. The proposal aims to legitimize digital assets while fostering a more mature and balanced crypto ecosystem. Fuwattananukul sees the regulatory shift as an opportunity for Thailand’s financial institutions to broaden their portfolios and embrace crypto assets. He explained that the proposal not only supports Bitcoin but also aims to integrate traditional finance and crypto, promoting balanced digital asset growth. Thailand’s SEC recently announced draft regulations allowing institutional-grade mutual and private funds to invest in crypto products. According to Fuwattananukul, this progressive move aligns with global trends and brings Thailand closer to establishing itself as a regional digital asset hub. Additionally, the SEC’s proposal currently seeks public feedback on criteria for mutual funds’ investments in crypto assets. Notably, retail access remains restricted, focusing the new regulatory framework on high-net-worth individuals and institutional investors. What Does the Shift Mean for Thailand’s Crypto Market? Fuwattananukul sees the regulatory shift as an opportunity for Thailand’s financial institutions to broaden their portfolios and embrace crypto assets. He explained that the proposal not only supports Bitcoin but also aims to integrate traditional finance and crypto, promoting balanced digital asset growth. Another critical development in Thailand’s crypto space is the growing interest in real-world asset tokenization (RWA). According to Fuwattananukul, Thai banks are already exploring blockchain-based conversions of traditional assets like real estate, bonds, and equities. He cited research from Tren Finance, projecting a 50-fold growth in the RWA market by 2030. While Thailand’s central bank still prohibits the use of crypto for daily transactions, these regulatory updates signal a strong commitment to fostering a secure and dynamic ecosystem for all market participants. This shift from retail to institutional focus, driven by forward-looking regulations, positions Thailand to lead in the regional digital asset market and strengthens its evolving fintech sector. Highlighted Crypto News Today Ripple Pushes Back on SEC Latest Move With Cross Appeal

Texas, the foremost mining epicenter in the United States, has historically been a strategic cornerstone for Bitmain’s relentless pursuit of mining dominance. However, a stunning reversal has occurred as all of Bitmain’s air-cooling miners, particularly the prestigious Antminer S19 series, have been compelled to cease operations in Texas. The official evaluation is unequivocal: Texas’s extreme climatic conditions, characterized by soaring heat and oppressive humidity, are deemed inimical to the effective functioning of air-cooling antminers. The maintenance predicament within the Antminer S19 series operating in Texas is stark. Units in optimal condition face a 40% repair rate, while those in suboptimal condition experience a staggering 100% repair rate. This led to the gradual withdrawal of the Antminer S19 series from Texas shelves in mid-June this year, coinciding with a notable decline in the network’s overall hash rate around June 16th. At the heart of this issue lies severe corrosion within the hashboards of the Antminer S19 series, particularly the S19K Pro model. The stark contrast in coloration between the air inlet side and the rest of the hashboard is a tangible manifestation of this corrosion, which has been exacerbated by the harsh Texas weather. Upon closer scrutiny, it becomes evident that this predicament stems not merely from environmental factors but from the inherent design flaws of Bitmain’s miners. The continued use of compact heat sinks, while effective for thermal dissipation, has proven to be a double-edged sword under certain conditions. The Bitmain’s Antminer S19K Pro, in particular, adopts a heat dissipation structure reminiscent of the two-sided small radiator of the Bitmain’s Antminer S17, which, under certain circumstances, has proven to be highly susceptible to damage. These circumstances include: Firstly, Transportation Vulnerabilities: The small radiator’s sensitivity to vibrations makes it prone to dislodgement during transit, especially under bumpy conditions or inadequate packaging. Secondly, Rapid Temperature Fluctuations: As evidenced by the Bitmain Antminer S19K Pro’s fluctuating hashrate and increased power ratio with rising ambient temperatures, its small heat capacity exacerbates the impact of rapid temperature changes. This can lead to damage even in the absence of extreme conditions. Thirdly, Moisture-Induced Chip Cracking: After shutdowns spanning a few days, the limited protection offered by the small radiator leaves the chip vulnerable to moisture absorption, which can cause cracking upon restart. In conclusion, Bitmain’s Antminer S19 series has encountered a formidable challenge in Texas’s unforgiving climate, revealing the limitations of their current design approach. As the mining industry continues to evolve, it will be imperative for Bitmain and other manufacturers to adapt their designs to withstand the rigors of varying environments, ensuring reliability and longevity amidst the relentless pursuit of mining dominance. Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

Chainlink marked a spike of over 4%, trading at $11.82. An analyst predicts LINK’s target price at $20. The major cryptocurrency, Bitcoin (BTC) has been fluctuating between $69K-$65K for the past few days. Certain tokens have lost and regained their momentum. Meanwhile, Chainlink’s price has sustained its price above the $11 mark. Notably, LINK has recently broken through critical resistance at the $11.70 range. This resurgence comes with a 4.82% spike over the past 24 hours. In the early hours, LINK traded at a low of $11.23. Despite struggling at the $11.60 level, the asset briefly signaled an upside rally for the day and climbed to a high of $12.07. At the time of writing, Chainlink was trading at $11.82, with its daily trading volume at $248 million, according to CMC data. On the other side, LINK exhibited a moderate upside momentum over the last seven days, with a 3.30% spike. The asset chose to trade at $11.44, at the start of the week. Over time, LINK’s price has jumped to $12.27. An analyst chart reveals that Chainlink has broken out of a falling wedge pattern and suggests a potential upward movement, with a target of around $20 indicated by the price path drawn. Can LINK Price Go Further? While inferring TradingView’s four-hour technical chart of LINK, the Moving Average Convergence Divergence (MACD) indicator is above the signal line, suggesting the ongoing bullish trend and the buying pressure. LINK chart (Source: TradingView) Notably, the daily relative strength index (RSI) of LINK is positioned at 56.68 in the neutral zone. Meanwhile, the short-term 9-day and the long-term 21-day moving averages are found below the current price momentum. Looking ahead, the positive breakout of Chainlink at $11.96 could pave the way to test its crucial resistance at $12.16. On the flip side, if LINK fails to meet the critical mark, the asset may likely step into the consolidation phase, which could push the price to a low of $11.36. Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing. Highlighted Crypto News Is XRP Ready to Break Free from These Price Barriers?

Metaplanet adopts “BTC Yield” to measure Bitcoin investment performance. BTC Yield reflects Bitcoin holdings growth compared to total shares outstanding. Japanese investment firm Metaplanet has embraced a new performance metric called “BTC Yield” to evaluate its growing Bitcoin holdings, closely following the approach of U.S.-based firm MicroStrategy. Announced on Oct. 25, Metaplanet’s BTC Yield aims to reflect the company’s Bitcoin acquisition strategy’s potential shareholder value, offering a unique measure by calculating the period-over-period percentage change in the ratio between its Bitcoin reserves and fully diluted shares. According to the disclosure, Metaplanet’s BTC Yield reached an impressive 116.4% in October, a notable increase from the 41.7% recorded between July 1 and Sept. 30. The Tokyo-listed firm attributes this spike to a substantial increase in Bitcoin holdings, which more than doubled during the recent quarter. This latest acquisition activity brought Metaplanet’s total Bitcoin holdings to approximately 861.39 BTC, currently valued at $59.04 million. “BTC Yield as a KPI helps assess the performance of our Bitcoin acquisition strategy in a way we believe is accretive to shareholders,” stated Metaplanet CEO Simon Gerovich in an X post accompanying the announcement. The BTC Yield metric, initially introduced by MicroStrategy, the largest corporate holder of Bitcoin globally, offers investors insight into the potential returns on Metaplanet’s Bitcoin purchases. The company plans to release these metrics alongside each Bitcoin purchase announcement, offering transparency on the effects of Bitcoin acquisitions on shareholder returns. Measure of Shareholder Value Growth The firm clarified that while BTC Yield provides insight into its acquisition strategy, it does not serve as an indicator of operational performance, liquidity, or direct profitability. This limitation means BTC Yield should be interpreted strictly as a measure of shareholder value growth rather than as a conventional financial metric. Furthermore, it does not consider liabilities or reflect potential future gains for shareholders. Dubbed “Asia’s MicroStrategy” by market observers, Metaplanet first announced its Bitcoin acquisition strategy in May 2024 to counter economic instability in Japan. The investment firm has since aggressively expanded its Bitcoin reserves, echoing MicroStrategy’s pioneering approach and aiming to bolster shareholder confidence through a consistent, transparent Bitcoin purchasing strategy. Highlighted News Of The Day Ripple Pushes Back on SEC Latest Move With Cross Appeal