Polygon upgraded its native POL token to enhance Ethereum scalability. The upgrade introduces a re-staking protocol for multiple chain validation. POL serves as the core token for Polygon’s multi-chain ecosystem. Blockchain platform Polygon has implemented a major upgrade to its native POL token, unlocking new staking features designed to scale Ethereum for mainstream adoption. According to an announcement from Polygon Labs, the upgraded POL token is now live on the Ethereum mainnet. This milestone caps months of development and testing on Polygon’s shift to become the backbone for Web3. Polygon’s POL introduces re-staking protocol The new POL introduces a re-staking protocol that enables token holders to validate multiple chains and take on various roles on each chain. This makes POL a highly productive token capable of securing a vast array of ZK-rollup-based Layer 2 networks. Polygon aims to build the “Value Layer of the Internet” by scaling Ethereum for global decentralized app adoption. POL will serve as the core token coordinating Polygon’s multi-chain ecosystem as usage expands. The upgrade was enacted after extensive planning and simulation on testnets to ensure a smooth transition. Polygon says its community provided crucial input during the consultation process. As Ethereum congestion persists, Polygon is positioning itself as the go-to scaling solution through innovations like POL. The pliable token model aims to sustainably secure arbitrarily complex Layer 2 chains demanded by Web3 growth. With POL’s supercharged staking features unlocking new possibilities, Polygon appears determined to push decentralized technology into the internet’s next era. The token revamp ushers in the next phase of its evolution as the self-proclaimed “Ethereum’s Internet of Blockchains.”

Charles Hoskinson has verified the Djed stablecoin project’s continuous existence. There is renewed optimism for the Djed project thanks to Charles Hoskinson’s declaration. Cardano’s creator Charles Hoskinson has addressed speculation that the Djed stablecoin may be phased out. In a recent post on twitter, he announced that Djed is not only staying put, but will also be undergoing a major revamp that will give this overcollateralized stablecoin a second chance at success. And he said they were “supercharging the team” working on the stablecoin. In contrary to rumors, Charles Hoskinson has verified the Djed stablecoin project’s continuous existence and highlighted its upcoming development. The stablecoin stands out due to the fact that it is overcollateralized, using the native ADA token on Cardano as collateral. Renewed Optimism Moreover, Djed’s fourfold over-collateralization is one of its strongest features. Thus, guaranteeing that the circulating supply is supported by four times the amount of outstanding coins. Djed users benefit from the increased stability and security provided by this method. However, problems arose for the project when its reserves fell to more than 350%, causing a temporary stop in the minting of new tokens owing to low activity. There is renewed optimism for the Djed project thanks to Charles Hoskinson’s declaration. IOG, the development firm behind Cardano, has made tactical adjustments to improve Djed’s prospects. Particularly noteworthy is that on October 24, a spin-off firm was founded specifically for the stablecoin industry, with W. Sean Ford as CEO and David Markley as COO. Meanwhile, COTI CEO Shahaf Bar-Geffen congratulated Sean and David on taking the helm, saying he looked forward to working with them to grow the Djed ecosystem. Highlighted Crypto News Today: Ethereum Whales Withdraw Record Amounts from Exchanges as Price Pops

The data of two on-chain indicators may be referred to for finding out whether the latest Ethereum rally can go on or not. Ethereum Has Enjoyed A Sharp Rally Of More Than 12% In The Past Week Like the rest of the cryptocurrency market, Ethereum has observed a rally during the past few days. Although the coin’s bullish momentum hasn’t been quite as strong as Bitcoin’s, its weekly gains of 12% are still nonetheless significant. Yesterday, the asset had been carrying even higher profits, as its price had touched above $1,850. In the past day, though, ETH has noted some drawdown, as it’s now trading under the $1,800 level. After the pullback, some investors have been wondering whether the Ethereum rally is done for now or if it has hopes for continuing further. On-chain data from Santiment may hold some hints about that. ETH Exchange Supply Has Plunged, While Whale Transfers Have Spiked In a new post on X, the on-chain analytics firm Santiment has discussed two important ETH metrics. The first of these is the “whale transaction count,” which keeps track of the total number of Ethereum transactions that carry a value of at least $100,000. Generally, only the whale entities are capable of moving such a large amount of the asset with a single transfer, so transactions of this scale are assumed to reflect the behavior of these humongous investors. The below chart shows the trend in this ETH indicator over the past few months. As displayed in the above graph, the Ethereum whale transaction count has observed some pretty high values recently. This suggests that these large holders have been quite active in the market. At the peak of this spike, the indicator had a value of 6,049, which is the highest number of daily transactions that the whales have made on the network since April of this year. The whale transaction count metric by itself can’t point towards a bullish or bearish outcome for the cryptocurrency, as both selling and buying transfers are included in the count. It’s true, however, that whales would need to stay active if the rally has to continue, as their contribution will provide the necessary fuel for it. So far, the whales have been active indeed, but it remains to be seen whether they are still buying or if they are pivoting towards selling. The pullback in the Ethereum price may hint towards the latter. The other indicator that Santiment has attached to the chart is the “supply on exchanges,” which measures the percentage of the total circulating ETH supply that’s sitting in the wallets of all centralized exchanges. From the graph, it’s visible that this indicator has only continued to slide down since the rally started, implying that investors have continued to make net withdrawals from these platforms. At present, 8.41% of the ETH supply is on exchanges, which is the lowest level since July 2015. Holders continuing to withdraw their coins can be a constructive sign for the cryptocurrency, as it can be a sign that accumulation is going on.

In a recent development, Ethereum’s latest resurgence (up over 12% in the last seven days) could be threatened by the actions of an Ethereum whale who could potentially end the token’s rally and further cause it to decline. Ethereum Whale Moves 30,710 ETH In a post shared on the X (formerly Twitter) platform, a crypto-related account with the username ‘EmberCN’ noted that a particular Ethereum whale who had withdrawn a total of 42,311 ETH from the crypto exchange Binance since September 20 had just transferred 30,710 ETH (out of the withdrawn funds) back to Binance. The account further mentioned that the average ETH price at which this whale had accumulated these tokens is about $1,667, which instantly shows that the whale is currently in profit and could be looking to realize some of their gains by selling the transferred tokens on Binance. However, the crypto community will be more concerned with how a potential sell-off could negatively impact the market. It would add to the selling pressure on the asset, which could cause a decline, especially if there is no buying pressure to match it. Some might be more inclined to believe that this amount of ETH may not matter in the grand scheme of things, considering that it was recently reported that Ethereum’s ‘Billionaires’ control one-third of the token’s circulating supply. This category of persons is those who hold 1 million ETH and above. It is also worth mentioning that on-chain data shows that the Ethereum whale has, since the transfer of the 30,710 ETH, gone on to transfer the tokens to another Binance wallet, which has spread the ETH across different wallets. Another Busy ETH Whale In a post shared on its X platform, the analytics platform Scopescan revealed that the 1inch investment fund had sold 4,685 stETH (staked Ethereum on the Lido platform) for $8.54 million at an average price of $1,823. In the process, they realized an estimated profit of $1.28 million as these stETH were said to be bought on October 13 at the average price of $1,550. The move may not come as a surprise to some as the investment fund, which has close ties to the DEX aggregator 1Inch, has been actively trading Ethereum since the beginning of the year. During that period, it bought a cumulative total of 17,000 ETH and then went on to take some profits by liquidating 11,000 ETH at $1,906 for $21 million, making a profit of about $3.7 million in the process. These whale movements may have had an impact on Ethereum’s price as the token is, at the time of writing, trading at around $1,770, down over 2% in the last 24 hours, according to data from CoinMarketCap.

Large Ethereum holders are rapidly withdrawing ETH from centralized exchanges as prices recover above $1,850. Percentage of Ethereum supply on exchanges dropped to 8.41%, the lowest level since Ethereum’s launch in 2015. ETH’s price surged over 12% in a week, reaching its highest in three months. Large Ethereum holders have been rapidly withdrawing ETH from centralized exchanges as prices recover above $1,850, according to blockchain analytics firm Santiment. Santiment reported that the percentage of ETH supply held on exchanges has dropped to just 8.41%, the lowest level since Ethereum first launched in 2015. Ethereum exodus comes as price surged This massive ETH exodus comes as Ethereum surged over 12% this week, reaching its highest price in almost three months. The rally has been driven in part by speculation that the SEC may soon approve a spot Bitcoin ETF. Data shows whales have ramped up withdrawals in response to the price spike. A single entity snapped up 56,070 ETH worth $98 million in under 24 hours amid the run-up. Analysts view exchange outflows as a bullish sign, indicating large holders are accumulating ETH and moving it into secure storage in anticipation of further gains. This reduces potential selling pressure on exchanges. The combination of supply shrinking on exchanges while prices climb has historical parallels with previous bull market run-ups. It suggests whales are positioning for an extended Ethereum price rally. However, some argue short-term speculation around Bitcoin ETF approval may be skewing activity. They contend the hype could fade quickly if an ETF is delayed again. Nonetheless, on-chain behavior reflects a dramatic pivot by Ethereum whales back into accumulation mode after months of selling pressure. With supply declining rapidly, the path of least resistance seems to be upward if demand continues rising.

The introduction of the bridge between MultiversX and Ethereum expands the reach of holoride’s RIDE token to new heights MUNICH–(BUSINESS WIRE)–holoride, the pioneer of extended reality in-vehicle entertainment today announced a cross-chain bridge between the MultiversX and Ethereum blockchains. The bridge, set to launch on October 31, offers seamless digital asset transfers of RIDE, the utility token of the holoride platform, across both blockchain protocols. This announcement supports holoride’s vision of developing a vibrant and sustainable platform ecosystem that is powered by the RIDE token. RIDE is designed to supercharge the connection between holoride subscribers, creators, and business partners by providing additional benefits that enhance engagement and add value for all users. Bridging between MultiversX and Ethereum creates unique opportunities for RIDE holders to freely and efficiently trade and store their tokens on either blockchain platform. RIDE holders on MultiversX can continue to stake on Ethereum, which will help foster a thriving ecosystem and strengthen the community’s position in the ever-evolving Web 3.0 landscape. “The Ethereum bridge is a testament to our unwavering commitment to growing the holoride ecosystem,” said Nils Wollny, CEO and co-founder of holoride “As a device and car manufacturer-agnostic company, creating the Ethereum bridge and supporting a new blockchain is in line with our technology-agnostic approach. We are thrilled to unlock more freedom for RIDE holders no matter how they choose to engage with the holoride ecosystem. For holoride, MultiversX is and will always be our home base from which we were able to launch our adventure and continue to offer new and exciting opportunities to our ever growing community.” The creation of the Ethereum bridge continues holoride’s commitment to expanding its Web3 footprint in a way that supports a transparent, secure, and personalized in-car entertainment experience. With numerous recent endeavors in the blockchain space, including a partnership alongside Laura-Marie Geissler for the release of her second series of NFTs on both Ethereum and MultiversX, as well as a collaboration with XOXNO, the prominent NFT marketplace on MultiversX, holoride remains committed to ongoing innovation and providing value within its ecosystem. RIDE is currently available on xExchange, Gate.io, MEXC and BitMart. After the bridge goes live, RIDE will also be available on Uniswap on Ethereum. For more information about holoride, click here. For more information about Ethereum, click here. About MultiversX MultiversX, previously known as Elrond, is the first blockchain protocol to combine all three (state, network, transaction) sharding aspects in an adaptive architecture that maintains the highest level of scalability and security. MultiversX is a high-throughput public blockchain aimed at providing security, efficiency, scalability and interoperability, beyond the current state-of-the-art. About holoride Combining the immersive and limitless potential of virtual reality and real-time data from in-motion vehicles, the holoride platform is an entirely new media paradigm. While passengers are immersed in a virtual experience, physical feedback such as acceleration and steering, as well as traffic data, route, and time, come together to create breathtakingly transformative experiences while reducing motion sickness. The experiential power of holoride’s “Motorverse” is further enhanced by the RIDE token, which was conceived to supercharge the social content ecosystem by delivering a more customizable and user-authored experience. Munich-based holoride was founded in 2018 by Nils Wollny, Marcus Kuehne, and Daniel Profendiner, with Audi also on board as a minority shareholder. In 2021, holoride received the prestigious Best in Show award at SXSW Pitch after winning in the Entertainment, Gaming, & Content category. The company is a 2023 CES Innovation Awards Honoree and received “Best of CES 2019” honors from Tom’s Guide, CNET, and SlashGear. holoride is also recognized as one of the “100 Best Inventions of 2019” by TIME Magazine, and as one of the “100 Most Consumer-Centric Companies of 2022” by Forbes. Further information can be found at holoride.com. Contacts [email protected]

With over 200k users, DSCVR will now be available to the millions of users in the Solana ecosystem LOS ANGELES–(BUSINESS WIRE)–DSCVR (pronounced “discover”), the largest Web3 social media and community building platform, is announcing its launch on the Solana Ecosystem. Already boasting well over 200,000 users, the integration will expand DSCVR’s tokenized communities and crypto asset functionality to the number of users building, engaging and transacting on Solana. The platform has also developed a Solana-centric content and user experience to provide a social networking platform for the Solana community. DSCVR was founded as an alternative to traditional social media, giving users a social and community-building platform empowered by native crypto functionality, seamless monetization, and an open API. The announcement precedes Solana Breakpoint, the annual event convening and connecting developers, artists, creators, and academics within the Solana ecosystem. “At DSCVR we are committed to growing crypto communities and expanding our users’ access to a wide variety of Web3 projects through new collaborations and integrations,” said Rick Porter, CEO and co-founder of DSCVR. “By partnering within the Solana ecosystem, we’re able to support the millions of existing Solana projects, users, developers, and creators who want to use the DSCVR platform to build communities, engage and increasingly transact.” Launching on Solana will allow DSCVR to introduce and integrate its core SocialFi functionality – combining the principles of social media and decentralized finance – to the platform. Users will be able to connect to their Phantom wallet, receive airdrops, view and transact assets, display verified PFPs, and create token- gated communities. In addition, communities and partners will be able to utilize innovative social and asset graph targeting to foster community growth. Upon launch, selected alpha integrations including Magic Eden, FamousFoxFederation, Blocksmith Labs and SharkyFi will enable digital asset transactions in the DSCVR feed, within communities, and through user-curated galleries. In the month following the launch, DSCVR will be highlighting its launch partners from the Solana ecosystem including MonkeDAO, Solcasino, Smyths, Meegos, YakuCorp, Aurory, CyberFrogs, StonedApeCrew, and dozens more. The marketing campaign will feature a different community each day with airdrops, giveaways, and activities. “For web3 social to succeed, it needs to go beyond just moving existing social media on-chain to providing net new functionality for users,” said Alexa Smith, Beacon Fund Manager at Polychain Capital. “DSCVR has been able to grow their user base by doing just that – enabling web3 projects and crypto communities to curate novel social experiences and transact directly on a social platform. We are excited to see DSCVR SocialFi expanding to new ecosystems.” Following the launch, DSCVR will host it’s official launch party on October 31st at Soho House during Solana’s Breakpoint conference taking place in Amsterdam. To learn more about DSCVR, please visit https://dscvr.one and follow us on Twitter at @DSCVR1. ABOUT DSCVR DSCVR (pronounced “Discover”) is the social network for crypto communities, projects and enthusiasts. With 200K+ users, the SocialFi platform has become a launchpad for tokenized communities where users can configure governance, gate based on token ownership, airdrop token rewards and earn digital assets. DSCVR’s upcoming Open API will allow partners to build applications that target through the social graph, distribute through the feed, and monetize in posts. In the face of increasing frustration with Web2 social DSCVR is bringing back openness, fairness, and optimism. DSCVR’s investors include Polychain Capital, Upfront Ventures, BDMI, Shima Capital, Tomahawk VC, and Fyrfly Venture Partners. Contacts MEDIA [email protected]

BlackRock has agreed to pay a $2.5 million fine to end the legal proceedings. The SEC also claimed that BlackRock exaggerated the interest rate that Aviron was receiving. The U.S SEC filed charges against BlackRock Advisors, LLC today for failing to provide information about investments that make up a substantial component of a publicly listed fund it advises. A notification from the SEC was issued confirming this. The investments are focused mostly on the media and entertainment sector. BlackRock has agreed to pay a $2.5 million fine to end the legal proceedings. According to the SEC, BlackRock Multi-Sector Income Trust (BIT) made substantial investments in Aviron Group, LLC via a lending facility between 2015 and 2019. Aviron is a firm that creates print and advertising strategies for around two movies annually. Not Related to Crypto Sector According to the SEC, BlackRock misrepresented Aviron as a provider of “Diversified Financial Services” in many publicly accessible annual and semi-annual reports of BIT. The SEC also claimed that BlackRock exaggerated the interest rate that Aviron was receiving. In 2019, however, the asset management noticed the mistakes and updated data for Aviron’s investment in subsequent years. In addition to paying the fine, BlackRock also consented to a cease-and-desist order and a reprimand. But the firm neither confirmed nor denied the SEC’s conclusions. Despite the fact that the planned spot Bitcoin ETF has put the world’s biggest asset manager in the crypto limelight, the investment itself has nothing to do with the cryptocurrency industry. BlackRock was charged by the SEC with failing to provide adequate investment disclosure around the same time that its spot Bitcoin exchange-traded fund (ETF) was spotted on the Depository Trust & Clearing Corporation (DTCC) listing, leading many to speculate that acceptance of spot Bitcoin is imminent. Highlighted Crypto News Today: SKALE Outperforms Major Blockchains as the Fastest

The price of BTC continues to push higher, and the bullish momentum remains intact as news around the Bitcoin ETF (Exchange Traded Fund) improves overall sentiment. In the wake of the recent rally, some trading firms doubled down on their bullish positions. As of this writing, the price of Bitcoin stands at $24,200 with sideways movement in the last 24 hours. The cryptocurrency rose by over 20% the previous week, operating as the top performer in the top 10 by market capitalization. Bitcoin ETF To Trigger Larger Rally: What’s The Target? Via social media platform X, trading desk QCP Capital disclosed their positions coming into the rally. The firm longed Bitcoin volatility with options contracts, taking some profits on their positions as the cryptocurrency rallied. Still, the firm remains optimistic, holding on to their calls due to expiry in December. By then, the firm targets a BTC price above $38,000 to $44,000, based on the momentum generated by a potential Bitcoin ETF approval. In the last week, the news generated by this event has shifted market sentiment, leading investors to a more favorable area. However, the firm remains cautious about the US Securities and Exchange Commission (SEC) approving a spot Bitcoin ETF in the short term. QCP Capital stated: SEC To Avoid Kingmaking In Bitcoin ETF Approval. The trading firm believes the financial instrument will get approved in 2024. The SEC will likely avoid favoring one firm to prevent BlackRock or other asset managers from taking a large portion of the clients and the trading volume, as when the future Bitcoin ETF was approved. The firm believes the financial instrument could get approved “much later than the market expects now.” As mentioned, investors have begun pricing in any price action associated with the ETF, which could lead BTC to another range until 2024. The firm cautioned players from taking late long positions: Cover image from Unsplash, chart from Tradingview

The Shiba Inu community burn rate has seen a significant decline over the last few days. The burn rate which had been on a tear earlier in the month started to recede and has fallen double-digits in the last 24 hours alone. Given that this burn initiative was implemented to reduce supply and increase the price in the process, this decline in burn rate could have an impact on SHIB’s price performance. Shiba Inu Burn Rate Down Over 80% As data from the Shiba Inu burn tracking website, Shibburn, shows, the Shiba Inu burn rate is down more than 80% in the last day. The reason for this decline is lower participation in the burn rate, as investors have turned their focus to the surging crypto market prices. At this time, only 29.98 million SHIB have been burned. Compared to the figures from earlier in the month which often came out above 100 million tokens burned, it shows a serious lack of participation from the Shiba Inu community members. Burns have come from over 40 wallets but the number of SHIB each transaction was carrying was very small, hence the lackluster burn rate recorded at this time. However, on the weekly time frame, the burn rate is faring much better, as the burn tracker revealed on X (formerly Twitter) that it has seen a 61.82% increase. This means that over 362.4 million tokens were incinerated in the seven-day period. Will This Affect The SHIB Price? A look at the Shiba Inu price chart shows that the meme coin has seen a slowdown in its rally over the last day. But this has not completely eliminated the bullish tendencies that the SHIB price has shown. For example, whales are not giving up on the crypto and are instead choosing to accumulate through the twists and turns. As Bitcoinist reported, Shiba Inu whales picked up 4.52 trillion tokens from the market, which saw the price rally resume once more. This shows that these large players expect the price to continue to rally, especially in the short term, making it a good time to be in the cryptocurrency. However, there has been a significant decline in the excitement and participation in the SHIB token. CoinMarketCap data shows a 20.94% decrease in its daily trading volume, which suggests that sellers may be gaining ground. Nevertheless, Shiba Inu has done a good job of sticking with the Bitcoin rally. And if the leading cryptocurrency continues its upward march, Shiba Inu’s tendency to follow the same path will see its value rise despite the decrease in burn rate.

Leading OEM partnered with Autofixa Solutions to simplify parts sourcing and purchasing for end customers AUSTIN, Texas–(BUSINESS WIRE)–BigCommerce (Nasdaq: BIGC), a leading Open SaaS ecommerce platform for fast-growing and established B2C and B2B brands, today announced the launch of BMW Group UK, a leading supplier of BMW and MINI original parts, on the BigCommerce platform. BigCommerce technology partner Autofixa Solutions, a provider of marketplace solutions for the automotive industry, was approached by BMW Group UK to launch new stores for both the BMW and MINI brands, featuring ERP integrations that sync inventory supplies and pricing data directly with the stores. The store primarily serves consumers, but business customers also use it as an easy alternative for locating and purchasing specific parts. BigCommerce was selected as a market leader that could provide a stable and scalable platform out of the box and help accelerate BMW Group UK’s ability to make improvements to its storefronts. The company chose BigCommerce for the robustness of its platform, exceptional functionality and strong partner ecosystem. “BigCommerce provided the necessary tools, infrastructure and support to ensure BMW Group’s stores would be successful,” said Graham Broughton, co-founder and CEO of Autofixa. “The scalability of its platform ensures it can handle rapid growth, while its partner network provides access to experts in various e-commerce areas.” Leveraging BigCommerce enabled BMW Group UK to support an increase in product ranges and categories, add additional functionality such as pay-over-time options and improve the overall customer shopping experience. A middleware Hemi Connect is integrated to the merchant’s ERP system where it pushes stock prices not only to the marketplaces but also to the ecommerce shop, creating a true omnichannel solution for the merchant and negating issues such as overselling or price parity. “The BigCommerce platform and Autofixa’s innovative marketplace technology combined to create impressive new BMW and MINI storefronts, which were up and running quickly after the project started,” said Mark Adams, senior vice president and general manager of EMEA at BigCommerce. “BMW Group UK now has a platform that can scale with its growth and deliver an exceptional customer experience.” BMW Group UK joins a growing group of automotive merchants on the BigCommerce platform, including BB Wheels, Brock’s Performance and Van Cafe. To explore BigCommerce’s automotive ecommerce solutions and how they help transform how to sell auto parts online, click here. About BigCommerce BigCommerce (Nasdaq: BIGC) is a leading open software-as-a-service (SaaS) ecommerce platform that empowers brands and retailers of all sizes to build, innovate and grow their businesses online. BigCommerce provides its customers with sophisticated enterprise-grade functionality, customization and performance with simplicity and ease-of-use. Tens of thousands of B2C and B2B companies across 150 countries and numerous industries use BigCommerce to create beautiful, engaging online stores, including Ben & Jerry’s, Molton Brown, Skullcandy, Solo Stove, Ted Baker and Vodafone. Headquartered in Austin, BigCommerce has offices in London, Kyiv, San Francisco, and Sydney. For more information, please visit www.bigcommerce.com or follow us on Twitter, LinkedIn, Instagram and Facebook. BigCommerce® is a registered trademark of BigCommerce Pty. Ltd. Third-party trademarks and service marks are the property of their respective owners. Contacts Brad Hem [email protected]

Solana’s SOL has gained over 214% year-to-date in 2023. Bitcoin and Ethereum are up 106% and 50%, respectively, in 2023. Other top 10 tokens like XRP, TRON, and Chainlink have posted gains between 64 and 105%. According to data from CoinGecko, Solana’s SOL has been a rare standout in 2023’s cryptocurrency rout, gaining over 214% year-to-date. The price performance makes it one of the only major crypto assets firmly in positive territory for the year. In comparison, Bitcoin and Ethereum are only up 106% and 50%, respectively, in 2023, based on the CoinGecko rankings. Other top 10 tokens like XRP, TRON, and Chainlink have posted more modest gains, between 64 and 105%. Cardano, BNB and Dogecoin records losses Meanwhile, Cardano, Binance Coin, Dogecoin, and TON have joined the losers, recording double-digit losses since January. This showcases just how brutal broad conditions have been in 2023, with crypto markets down over 60% from all-time highs. Solana’s ability to swim against the tide demonstrates the network’s technical momentum despite recent challenges. The blockchain has faced congestion issues, outages, and critics questioning its decentralization. In fact, Solana has hit major milestones that validate its value proposition to developers and enterprises. For example, Visa introduced USDC settlement on Solana in September, while Shopify integrated Solana Pay in August. The network has also maintained strong uptime, with 100% year-to-date availability. This showcases maturing stability and reliability for a blockchain once plagued by frequent outages. With Solana firing on all cylinders technically while tokens like Ethereum struggle with congestion, its outperformance makes sense. Questions linger around the unknown extent of potential FTX sales impacting SOL markets.

CHZ has gained 15.21% in the last 7 days amid latest advancements. Fans of the Tottenham Hotspur Football Club have their own token, called $SPURS. Fans of the illustrious Tottenham Hotspur Football Club have their own token, and it’s called $SPURS. The Premier League giants will go above and beyond to provide Spurs fans amazing, individualized incentives including Big Screen messages, VIP tickets, Spurs Shop vouchers, and virtual meet-and-greets. After launching their new Spurs Fan Token in association with Socios.com, Tottenham supporters will have access to a wide variety of opportunities. Jump Start Campaign Token holders of the $SPURS will be able to cast votes onchain, and new use cases will be accessible for apps that use Chiliz Chain, increasing the network effects of the platform. The Spurs will also be working with MatchWornShirt, a platform that allows fans to bid on game-worn jerseys that have been validated as legitimate by the Chiliz blockchain. As part of the Jumpstart campaign for the much-anticipated launch of the $SPURS Fan Token, almost 400 million CHZ (Chiliz) tokens have been sent to the prominent crypto exchange, OKX. Etherscan disclosed the attention-grabbing transaction, which piqued the interest of the crypto community. The goal of the Jumpstart campaign is to get fans invested in the introduction of their beloved teams’ Fan Tokens and to reward them for doing so. The fact that 400 million CHZ tokens were transferred to OKX demonstrates not just the rising interest in Fan Tokens but also their immense potential. At the time of writing, CHZ is trading at $ $0.06591, down 2.40% in the last 24 hours as per data from CoinMarketCap. However, it has gained 15.21% in the last 7 days amid latest advancements. As organizations increasingly turn to digital tools in an effort to boost customer loyalty, fan tokens have emerged as an important medium. Highlighted Crypto News Today: Ethereum Struggles To Cross $1805 Resistance: What Should Traders Do?

Ethereum (ETH) hits a 10-week high of $1852. Ethereum trading volume is down 3% in the past 24H. Ethereum, the second-largest cryptocurrency by market capitalization, has been displaying resilience against bearish market trends. Just hours ago, it surged to a 10-week high, reaching $1,852. This significant rally followed a day of strong market performance, with the total market capitalization surging by over 8%. Even Bitcoin, the leading cryptocurrency, managed to climb above $35,000 during this bullish run. However, Ethereum remains volatile, with a 3% decline in the past 24 hours, currently trading at $1,780. Nevertheless, in the seven-day timeline, ETH witnessed a notable 12% surge. This volatile momentum impacted investor sentiment, as reflected in a decline in trading volume over the past 24 hours, down by 2.67% to $214 million. Notably, the consistent accumulation of Ethereum by large market participants, often referred to as “whales,” may signal a sustained upward trajectory. According to data from EtherScan, one of these prominent whales acquired more than 20,000 ETH, obtaining 17,000 ETH through a decentralized exchange (DEX) and withdrawing an additional 3,000 ETH from a centralized exchange. In addition, another whale withdrew over 10,000 ETH from Binance (BNB) and subsequently utilized these funds to take a long position on the asset within various DeFi platforms. Will The ETH Bulls Take Over? A closer analysis of Ethereum’s current price movements indicates the presence of bullish forces. The 9-day exponential moving average (EMA) is positioned below the current trading price at $1,690. Simultaneously, the daily relative strength index (RSI) stands at 72, suggesting that the asset is in an oversold territory. However, Ethereum faces a critical resistance at the $1,805 level, and its failure to surpass this could result in a downward trend. Initial support on the downside is expected near the $1,780 level, followed by the crucial $1,750 support and the trend line zone. A break below the $1,750 support might drive the price even lower, potentially leading Ether toward the $1,720 level. Further losses could push it down to the $1,700 level, approaching the 100-hourly Simple Moving Average.

SKALE was found to be the most efficient due to its 397.7 TPS and 1.46 second TTF. The SKALE community has saved over $2 billion USD in gas fees. Dartmouth Blockchain has tested many of the most well-known blockchains in realistic settings and published their findings on their performance metrics. Eight prominent blockchains were tested and compared. Among them, SKALE was found to be the most efficient due to its 397.7 TPS and 1.46 second TTF. Transactions per second (TPS) and time to finality (TTF) ratings for most alternative blockchain networks were much lower. Solana (375.31 TPS), Flow (60.1 TPS), Avalanche (49.68 TPS), Polygon (20.92 TPS), Ethereum (12.23 TPS), and NEAR (6.22 TPS) are among the tested chains. Also, as of this writing, the SKALE network is made up of 20 independent, Ethereum Virtual Machine (EVM) blockchains. Each of which can process transactions at a rate of 397.7 TPS. An astounding 7,954 TPS is achieved over the whole SKALE network. Infinite Scalability Moreover, the modular nature of SKALE means that there is no limit to the number of new SKALE Chains that may be built, allowing for potentially infinite scalability. SKALE is an Ethereum-specific blockchain scaling solution that aims to build a network of interoperable, sharded blockchains. Also, with SKALE, users may create a limitless number of rapid, on-demand, pooled-security Blockchains at no cost to them in terms of gas. The SKALE community has saved over $2 billion USD in gas fees. Furthermore, developers may use SKALE to quickly and easily construct a secure, decentralized, and interoperable EVM blockchain. SKALE is an entirely decentralized, open source, and community-run initiative. The network has reached over 1.6 million unique wallets and over 675,000 active users in the last month, making this a huge milestone. Highlighted Crypto News Today: Crypto Q3 2023 : A $685 Million Downfall

In a definitive response to swirling rumors regarding the possible discontinuation of the Djed stablecoin, Charles Hoskinson, founder of Cardano, firmly stated that not only will the project continue, but it will also receive a significant upgrade. “No, we aren’t dropping Djed. We are supercharging the team,” he announced. Cardano Developer IOG Doubles Down On Djed Djed, an overcollateralized stablecoin by Input Output Global (IOG) and COTI has been under scrutiny due to its unique financial mechanism recently. Specifically, the stablecoin uses Cardano’s ADA token as a reserve, aiming to maintain a circulating supply backed by four times the number of its outstanding coins. While designed to provide enhanced security and stability for its users, recent metrics indicated the reserves had decreased to 356%, prompting a temporary suspension of minting new Djed tokens. In the midst of this, IOG issued a series of statements indicating structural changes and expansions. Hoskinson tweeted about the addition of Sean Ford, noting, “Glad to welcome my good friend Sean Ford to the IOG family.” This was in conjunction with IOG’s formal announcement, detailing the appointment of Sean Ford as CEO and David Markley as COO of a newly formed subsidiary concentrating on the stablecoin sector. Ford’s credentials in the technology sector are quite noteworthy, having been part of the founding team at Algorand where he served in both COO and CEO capacities. Additionally, David Markley, before joining IOG, was deeply entrenched in Algorand’s Operations, Venture, and Business Solutions teams. Articulating his vision for the evolving stablecoin sector, Ford stated, “The stablecoin space is rapidly evolving as the next frontier in digital asset payments, settlement, and innovation. I am excited to engage with the IOG team and the broader blockchain, stablecoin, and crypto community as we work collectively to create and launch the next generation of stable assets.” Hoskinson, reflecting on his long-standing involvement in the field, emphasized the necessity of stablecoins for the blockchain industry. Drawing attention to his work from BitShares to Djed, he said, “The blockchain industry needs stablecoins to realize its mission and fully protect its values. I’m incredibly proud to welcome my friend Sean Ford to lead a new venture to develop stablecoins and other payment solutions alongside their supporting ecosystems.” These developments suggest a recalibration of the Djed project under new leadership. With firm support from the Cardano ecosystem, Djed could make a new attempt to conquer a part of the huge stablecoin market in the crypto sector. ADA Breaks The Downtrend Last Saturday, the ADA price managed to break above a descending trend line that has its origin in mid-April, when ADA reached its high for the year at $0.463. Since then, ADA has been in a downtrend, which may now be coming to an end, as discussed in our latest analysis. The Cardano price has recaptured the 0.236 Fibonacci retracement level on the 1-day chart and is now close to the extremely important 200-day EMA at $0.298.

Solana (SOL) has experienced remarkable growth in the past month, outpacing its peers in the cryptocurrency market. According to data from Messari, SOL’s market capitalization surged over 60%, solidifying its position among the top ten crypto assets. This rally comes after a challenging period for SOL bulls who struggled to maintain support at the $20 mark, not to mention the significant drop to $8 following the FTX exchange implosion in November. Solana Price Recent Fluctuations SOL’s price reached a peak of $32 before settling at its current level, approximately $31.28, as reported by CoinGecko. Although there has been a slight 0.4% dip in the last 24 hours, the cryptocurrency has shown an impressive seven-day rally, with a gain of 30.2%. To put this in perspective, the last time SOL was trading at a similar price level was in November 2022, just before the FTX exchange incident shook the market. The surge in SOL’s price can be attributed to the overall bullish momentum in the cryptocurrency market over the past few weeks. Data from Santiment reveals that SOL’s daily trading volume has surged by more than 30% since October 16. This increased trading activity indicates growing investor interest and confidence in Solana’s potential. A closer look at the momentum indicators on a daily chart highlights the significant accumulation of SOL compared to distribution among spot traders. This indicates that buying activity has been outpacing profit-taking activity, contributing to the sustained rally in SOL’s price. However, it’s important to note that these indicators also suggest that the cryptocurrency has become overbought and may be due for a correction. Investors should remain cautious and monitor the market closely in light of this overbought signal. Solana’s Expanding Influence In The Web3 Space The interest in Solana extends beyond the native token SOL, as the Solana protocol continues to gain ground in the Web3 ecosystem. One notable development is the adoption of Solana by Ryder, a pioneering hardware wallet secured by a user’s social network. Ryder has chosen the Solana blockchain due to its unparalleled scalability and rapid transaction capabilities. Ryder’s move to utilize Solana’s blockchain is a strategic step toward achieving ultimate decentralization within its ecosystem, reducing reliance on major tech companies. This highlights the blockchain’s versatility and its potential to reshape the landscape of decentralized finance and applications in the near future. Solana’s recent surge in market capitalization and price is indicative of the cryptocurrency’s growing prominence in the digital asset landscape. However, investors should remain vigilant as overbought conditions may necessitate a market correction. Meanwhile, Solana’s expanding influence in the Web3 space showcases its potential to revolutionize how we interact with technology and finance, making it an exciting project to watch in the blockchain industry. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from The Daily Hodl

TORONTO–(BUSINESS WIRE)–$CBIT #Bitcoin–(Block Height: 813,695) – Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQB: CBTTF) (“Cathedra” or the “Company”), a diversified bitcoin mining company, is pleased to announce the launch of CathedraOS (the “Firmware”), an aftermarket software product for bitcoin mining machines. Product Overview Over the last year, Cathedra has pioneered the use of aftermarket firmware for its bitcoin mining machines to improve fleet efficiency and maximize operating cash flow. In that time, the Cathedra team has experimented with the various products across the industry and has developed extensive expertise. Today, Cathedra makes this expertise available to the public in our own aftermarket firmware product, CathedraOS, which can be downloaded for free on our website at cathedra.com/firmware by all bitcoin miners who agree to the terms of our End User Agreement. Cathedra will receive a share of the hash rate produced by each end user of the Firmware as a developer fee, resulting in capex- and opex-free hash rate expansion for the Company. “We are proud of the optimizations we have made to increase Cathedra’s fleet performance and are excited to now open our playbook to new partners,” remarked Isaac Fithian, Chief Field Operations and Manufacturing Officer (CFOMO) of Cathedra. “CathedraOS allows our Company to diversify revenue streams and expand hash rate with minimal capex and minimal opex,” added Drew Armstrong, Chairman and President of the Company. “We believe that our fellow miners will benefit from this tool and from our experience as we all approach the Halving and underclocking becomes even more important.” About Cathedra Bitcoin Cathedra Bitcoin Inc. (TSX-V: CBIT; OTCQB: CBTTF) is a Bitcoin company that believes sound money and abundant energy are the keys to human flourishing. The Company has diversified bitcoin mining operations which produce 355 PH/s across three states and five locations in the United States. The Company is focused on managing and expanding its portfolio of hash rate through a diversified approach to site selection and operations, utilizing multiple energy sources across various jurisdictions. For more information about Cathedra, visit cathedra.com or follow Company news on Twitter at @CathedraBitcoin or on Telegram at @CathedraBitcoin. Cautionary Statement Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. The information in this release about future plans and objectives of the Company, are forward-looking information. Other forward-looking information includes but is not limited to information concerning: the intentions and future actions of senior management, the intentions, plans and future actions of the Company, as well as the Company’s ability to successfully mine digital currency; revenue increasing as currently anticipated; the ability to profitably liquidate current and future digital currency inventory; volatility of network difficulty and, digital currency prices and the resulting significant negative impact on the Company’s operations; the construction and operation of expanded blockchain infrastructure as currently planned; and the regulatory environment of cryptocurrency in applicable jurisdictions. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law. Contacts Media and Investor Relations Inquiries Sean Ty Chief Financial Officer [email protected]

Bitcoin has had an eventful week in terms of price action. The world’s largest crypto saw an 18% increase in the past seven days, its highest percentage increase this year. This unexpected surge caused a flurry of short position liquidations, and according to Glassnode, 60,000 BTC worth of futures positions were closed. Amidst all the price surge, data from Glassnode has shown a large portion of investors are now breaking above profit. Bitcoin Surges Past $35,000, Flipping Millions of Coins Into Profit Bitcoin bulls managed to push Bitcoin price above $35,100 in the past 24 hours, marking the biggest one-day increase this year. The upward movement began near the $25,000 level and continued until it reached its new yearly high. A blockchain analytics platform Glassnode report showed that Bitcoin zooming past $35,000 is a big deal for holders. At this price level, millions of BTC holdings were pushed into profitability. During this rally, the percent of supply in profit from the $25,000 to $35,000 price jump increased by a massive 4.7M BTC, equivalent to 24% of the total circulating supply. Long-term investors, in particular, had a big break in profit at this price point. Although approximately 29.6% of long-term holder supply is still held at a loss, their aggregate holdings recently broke into a new all-time high of 14.899 million BTC. Source: Glassnode Short-term holders were also not left out, as investor confidence has recovered from bearish to neutral on the cost-basis models. We’re now at a crossover point to a positive bullish sentiment for short-term holders. A look into the average buy price of short-term holders puts the majority of entry into the market at $28,000, indicating a profit margin for both short and long-term traders. What’s Behind Bitcoin’s Sudden Price Surge? The sudden surge in Bitcoin can be attributed to the excitement behind the approval of BlackRock’s spot Bitcoin ETFs application. Bitcoin backers pointed to the listing of BlackRock’s iShares Bitcoin Trust on the Depository Trust and Clearing Corporation (DTCC) website, suggesting that BlackRock had begun seeding money for the ETF. Although Bitcoin has since shed off some of this price gain and is now trading at $33,860 at the time of this writing, metrics show that 80% of holders are making money at the current price. Exchange signals also point to bullish momentum, as traders are now exchanging their assets for BTC on crypto exchanges. The rise in the value of Bitcoin to $35,000 was reflected in the stock prices of crypto-related companies like Coinbase and MicroStrategy. At that price, MicroStrategy’s Bitcoin holdings would have generated a profit of $857 million for the company.

Sonic is expected to reach throughputs of 2,000 TPS or more as per the Foundation. The size of a validator node may be decreased from over 2,000 GB to 300 GB. Fantom Foundation has introduced a new revolutionary upgrade called Fantom Sonic, which will allow the network to reach unprecedented levels. Compared to its predecessor, Opera, Sonic is expected to reach throughputs of 2,000 TPS or more. This is because of a combination of a new virtual machine, enhanced database storage, and optimized consensus. Before the upgrade’s expected mainnet deployment in the spring of 2024. The team is now granting access to the Fantom Sonic testnet environment. So that consumers and developers may experience the breakthrough speed for themselves. Major Improvements Moreover, the enhancement is the most recent move in Fantom’s effort to enhance the core platform without opting for sharding or other layers. Fantom Sonic’s testnet is now live and can be observed at the project’s main website. The size of a validator node may be decreased from over 2,000 GB to 300 GB. While the size of an unpruned archiving node can be reduced from over 11 TB to under 1 TB, drastically reducing storage needs. With the cost of storage reduced, anybody may deploy validator nodes with much faster synchronization times and support for live pruning. The new Fantom Sonic Client, which validators and other nodes will utilize to power the network, incorporates the updated technological stack. Which consists primarily of the Fantom Virtual Machine (FVM), Carmen database storage, and a refined Lachesis consensus mechanism. What this means is that there will be no need for a hard fork in order to upgrade. Since Sonic is just the next version of the Fantom network. The Fantom Virtual Machine (FVM) is entirely compatible with the Ethereum Virtual Machine (EVM). And, also its programming languages (Solidity, Vyper, etc.). Therefore any smart contracts, services, or tools that were built on Fantom Opera should work just fine with the Fantom Sonic mainnet. Highlighted Crypto News Today: Grayscale Forays Into Crypto Indices Market With FTSE Russell