BNB price nears $600 resistance, forming ascending triangle pattern. Technical indicators suggest potential bullish breakout. Price targets: $658-$711 short-term, $863 long-term if bullish trend continues. Binance Coin (BNB) is showing signs of potentially breaching the important $600 level. This level has served as a formidable resistance for months, effectively capping BNB’s bullish momentum. The current price action sets the stage for a potential breakout that could redefine BNB’s market trajectory. BNB’s daily chart reveals a rising support trendline that has underpinned the token’s bullish growth. The price has been consistently challenging the crucial resistance zone near $600, forming higher lows in the process. Since June, this resistance has repeatedly repelled BNB’s advances, triggering multiple bearish reversals and confining the price to a sideways trend with support at $464. BNB showing signs of ascending triangle pattern The recent price action has given rise to an ascending triangle pattern, characterized by a series of higher lows against a flat top resistance. Currently, BNB is experiencing a bull cycle within this pattern, marked by three consecutive bullish candles that have pushed the price up by 5.78%. However, an intraday pullback of 0.67% with higher price rejection signals potential resistance at these levels. Technical indicators lend support to the bullish narrative. The 50-day and 200-day Arithmetic Moving Averages (AMAs) maintain a positive alignment, providing dynamic support to the price. Furthermore, the Moving Average Convergence Divergence (MACD) and its signal line have recently produced a bullish crossover, accompanied by a surge in positive histogram values. Looking ahead, Fibonacci retracement levels offer insight into potential price targets. Having surpassed the 50% Fibonacci level at $587, BNB now faces the critical $600 threshold.

Litecoin price breaks above $72, showing increased volatility. Trading volume surged 150% in 24 hours, now stabilizing. Potential targets: $76.5 resistance zone, with possibility of reaching 3-digit figure by year-end. Litecoin (LTC) has emerged as a standout performer in the cryptocurrency market, defying the initial ‘Uptober’ disappointment and rekindling hopes for a bullish close to the month. The token’s price action has shown increased volatility in the second half of October, breaking free from its previous consolidation around $66 and surpassing the $72 mark. The recent surge in Litecoin’s performance coincides with news of Canary Capital seeking SEC approval for a spot Litecoin ETF, potentially fueling bullish expectations for the token. This development, coupled with LTC’s price movements, has positioned it among the top-performing cryptocurrencies in recent days. Litecoin trading volume pumps Litecoin’s upward trajectory has been accompanied by a significant spike in trading volume, which saw a remarkable 150% increase over a 24-hour period. While this volume has since stabilized, the continued price appreciation suggests a strong underlying bullish sentiment among investors. Technical analysis reveals that LTC has successfully tested a pivotal trendline, which previously served as strong support and now represents a key resistance level. The Relative Strength Index (RSI) displays a pattern of higher highs and lows, indicating growing strength in the bullish momentum. Additionally, the Directional Movement Index (DMI) hints at an impending bullish crossover, potentially propelling LTC into the critical resistance zone between $72.61 and $76.5. The recent surge in trading volume has broken above a restrictive range that had constrained LTC for several weeks. This breakout in volume suggests renewed trader interest, which could sustain buying pressure and provide robust support for Litecoin’s rally. Looking ahead, if Litecoin successfully breaches and holds above the $76.5 resistance level, it could set the stage for a major rally.

Willemstad, Curaçao, Netherlands, October 17th, 2024, Chainwire New data from Cloudbet, a leading crypto casino and sportsbook, reveals that the emergence of newer, faster cryptocurrencies like Solana, Polygon, and Tron, are not as popular as mainstream coins for online gambling. The platform data suggests that gamblers prefer established cryptocurrencies such as Tether (USDT), Bitcoin (BTC), and Ethereum (ETH). Year-to-date data shows that USDT accounted for 47.3 percent of the platform’s total turnover, across more than 35 cryptocurrencies. Bitcoin claimed a 28.9 percent share followed by Ethereum at 11.5 percent. Altcoins with speedier transaction times, like Solana (SOL), Litecoin (LTC), Ripple (XRP), and Tron (TRX), are growing in usage but are still lagging behind. In June 2024, Cloudbet released an innovative new rewards program, awarding users in USDT without rollover restrictions. This month, the company released a second iteration of Cloudbet Rewards which now awards users in the cryptocurrency of their choice. For the majority of users, this will still be USDT, but it gives Cloudbet users the financial flexibility to play with more coins. Since its founding in 2013 as the first licensed Bitcoin casino, Cloudbet has had a front-row seat to the evolution of crypto gambling preferences. “After nearly a decade in the space, we’ve seen the market mature,” the spokesperson shares. “Stability is the watchword now for the lion’s share of crypto gamblers.” About Cloudbet Cloudbet is a proud pioneer of crypto betting. Since its launch in 2013, as the world’s first crypto-friendly sportsbook and casino, Cloudbet has served hundreds of thousands of users and taken millions of bets, establishing a reputation as the most trusted, secure, and VIP-friendly brand in crypto gaming. Cloudbet users can bet with 35+ cryptocurrencies, from Bitcoin, Ethereum, and stablecoins like USDC and USDT, to SOL and other popular altcoins. The site is available in 18 languages (including Spanish, German, Italian, French and Japanese). For media inquiries, odds, and insights, users can contact [email protected] or check out media.cloudbet.com. Contact Irene Halcyon Super Holdings B.V. [email protected]

Bitcoin (BTC) is trading slightly lower in South Korea compared to the global cryptocurrency markets due to a reverse ‘kimchi premium,’ not seen since October 2023. Reverse ‘Kimchi Premium’ Makes Bitcoin Cheaper In South Korea According to a report by The Korea Times, there is a price differential of more than $500 between Bitcoin’s price in South Korea and global markets. Analysts attribute this to a negative ‘kimchi premium.’ For the uninitiated, kimchi premium refers to the price difference where BTC trades at a higher price on South Korean exchanges than on global markets. This premium is driven by local demand, regulatory factors, and capital controls in South Korea, leading to occasional price discrepancies. Currently, the kimchi premium stands at -0.74%, leading to a lower market price for BTC on South Korean exchanges than the rest of the world. Notably, the kimchi premium has been negative since October 15. A positive premium indicates strong demand for the underlying digital asset. In contrast, a negative premium might suggest that investors may be looking to trade on foreign exchanges due to South Korea’s stringent regulations surrounding digital assets. A positive Kimchi Premium is common on South Korean exchanges, which often experience high trading volumes. When BTC briefly crossed $72,000 in March 2024, the kimchi premium surged as high as 10%. The report suggests low domestic investor sentiment is a key factor behind the negative premium. While global crypto trading volumes have surged due to the upcoming US presidential elections and a Chinese stimulus package, sentiment in South Korea remains lukewarm. KP Jang, head of Xangle Research, commented: Further, the preference for typically riskier altcoins in hopes of extraordinary profits might influence the local South Korean crypto market, driving attention away from BTC and leading to lower trading volumes. That said, analysts expect the negative kimchi premium to be a temporary phenomenon. Jang explained that, historically, such price discrepancies have only persisted for a short period. Will A Regulatory Overhaul Help South Korea? The crypto regulatory framework in the peninsular country is witnessing several changes to streamline digital asset trading and ensure sufficient customer protection mechanisms are in place. In 2022, South Korea elected pro-crypto Yoon Suk-Yeol as president. As part of his election campaign, Yoon promised to reduce government interference in crypto markets, calling existing regulations “far from reality and absurd.” In contrast, neighboring Japan has openly embraced digital assets amid evolving crypto regulations. For instance, earlier this year, Japan’s Government Investment Pension Fund (GIPF), with $1.5 trillion in assets, expressed a desire to gain exposure to BTC. BTC trades at $67,559 at press time, down 0.4% in the past 24 hours. When writing, the leading cryptocurrency commands a total market cap of $1.33 trillion.

Bitcoin (BTC) has continued its ascent in recent weeks, reclaiming major highs. However, recent analysis suggests that the $57,000 level could be one of the most critical support points for the ongoing bull rally. This insight comes from a CryptoQuant analyst, Burak Kesmeci, who highlighted the role of Bitcoin Spot Exchange-Traded Funds (ETFs) in shaping the market stance. Bitcoin Resilience At The $57,000 Level Spot ETFs have emerged as a major instrument in the Bitcoin ecosystem, offering a regulated entry point for institutional investors. According to Kesmeci, the average cost of Bitcoin Spot ETFs has been a key support level throughout 2024, providing a foundation for the asset’s price stability. This level is pegged at $57,000 and has held firm throughout the year, with only two significant exceptions. The $57,000 price level is significant because of its technical support and the psychological implications for Spot ETF investors. Bitcoin’s price dipped below this support level twice in 2024. The first instance was in early August, driven by Japan’s market turbulence, and the second in September due to a sharp price correction. Despite these market shocks, Spot ETF investors did not react with panic selling. Kesmeci wrote: Foundation Set For Positive Move According to the CryptoQuant analyst, these investors demonstrated resilience by holding onto their investments, even when unrealized losses mounted. Their ability to withstand market pressure contrasts with typical behavior in other speculative sectors, where sudden price drops often lead to mass sell-offs. This suggests that Spot ETF investors have grown more comfortable with Bitcoin’s inherent volatility, recognizing its long-term potential. The analyst highlighted that minor outflows during these turbulent periods were not significant enough to disrupt the broader market. Even during Japan’s “carry trade” crisis, where many expected a stronger market correction, the overall sentiment among Spot ETF investors remained calm. In conclusion, Kesmeci noted: Featured image created with DALL-E, Chart from TradingView

Crypto analysts Amonyx and Egrag Crypto have provided a bullish outlook for the XRP price with “something big” on the horizon. Based on their analysis, the long-awaited price breakout for XRP could soon happen. Something Big Is Coming For XRP Price Crypto analyst Amonyx stated in an X post that something big is coming for the XRP price. His accompanying chart showed that the crypto could enjoy a massive rally to $75. The analyst made this prediction based on XRP replicating a similar run that it enjoyed in the 2017 bull run when its price surged by over 61,000%. The chart showed that XRP consolidated for a year before it broke out and enjoyed that unprecedented rally. In line with this, the analyst highlighted how XRP has been consolidating since then, suggesting another price breakout is imminent. Amonyx has recently been more bullish on the XRP price. Before now, he predicted that the crypto would reach between $50 and $57 at the peak of this bull run. However, his recent prediction offers a more bullish outlook for XRP. Interestingly, he also recently predicted that the crypto could enjoy a “giga pump” to $400. These bullish XRP predictions are believed to be partly because of the recent applications by Bitwise and Canary Capital to offer an XRP ETF. These funds could contribute to a significant rally for XRP since they will attract more institutional investors into the coin’s ecosystem. Therefore, these XRP ETFs will positively impact the XRP price just like the Spot Bitcoin ETFs did for the Bitcoin price. Meanwhile, in the short term, Amonyx also expects that the XRP price could enjoy a significant rally. In a recent X post, he shared an XRP/Bitcoin chart and told XRP holders that a God candle was coming soon. XRP’s Breakout Target To Keep An Eye On Crypto analyst Egrag Crypto highlighted $0.61 and $0.62 as the breakout targets to keep an eye on. He noted that the breakout point is getting lower and added that the XRP has a maximum of 70 days left before it reaches the final pinnacle of the breakout point. Egrag Crypto further remarked that he is convinced that the price breakout could happen sooner than expected, within the next 15 to 30 days. According to him, the pressure is building and won’t stay contained for much longer. Indeed, XRP’s consolidation dates way back to the 2021 bull run when it failed to reach a new all-time high (ATH). The $0.60 price level has also proven to be strong resistance for the coin, as it has retested and failed to break above it multiple times since Judge Analisa Torres delivered her final judgment in the Ripple SEC lawsuit in August. At the time of writing, the XRP price is trading at around $0.55, up over 3% in the last 24 hours, according to data from CoinMarketCap.

On-chain data shows the Bitcoin whale transactions have spiked following the latest rally, a sign that profit-taking may have begun. Bitcoin Whale Transaction Count Now Highest In Over 10 Weeks According to data from the on-chain analytics firm Santiment, the Bitcoin whales have shown an increase in activity recently. The indicator of relevance here is the “Whale Transaction Count,” which keeps track of the total amount of transfers taking place on the BTC blockchain that are carrying a value of at least $100,000. When the value of this metric is high, it means the whales are making a large number of moves on the network right now. Such a trend implies these humongous holders have an active interest in trading the coin. On the other hand, the indicator being low suggests the whales may not currently be paying much attention to the cryptocurrency as they aren’t making too many transactions. Now, here is a chart that shows the trend in the Bitcoin Whale Transaction Count over the last few months: As displayed in the above graph, the Bitcoin Whale Transaction Count has seen a notable spike recently, suggesting that the whales have made a large amount of transfers. More particularly, these humongous entities made a total of 11,697 transfers in the span of 24 hours at the peak of this spike. Generally, it’s hard to say anything about what sort of transfer activity it is exactly that the whales are participating in based off the Whale Transaction Count alone, since both selling and buying transactions look the same from the perspective of the indicator. The accompanying price action, though, can provide some hints. The latest peak in the metric is the highest that the indicator has gotten since early August. Back then, the spike had coincided with a crash in the asset’s price, implying that a lot of the whales’ moves may have had been for selling. The current increase in the Whale Transaction Count has come as Bitcoin has been rallying, so it’s possible that the whales may be participating in profit-taking again. Since the spike occurred, BTC has slid down under $67,000, which may add evidence for this. In the same chart, Santiment has also attached the data for another BTC metric: the Social Dominance. This indicator basically tells us about the share of social media discussions that Bitcoin is occupying as compared to the total for the top 100 assets in the sector. From the graph, it’s apparent that the Social Dominance has spiked to 25.5% for the cryptocurrency, which is the highest value since late July. Thus, Bitcoin’s mindshare is currently high when compared to that of the altcoins. This is usually a sign of fear of missing out (FOMO) among traders. Historically, excessive hype has been a poor sign for BTC, with tops often following it. “Both of these signals are signs that the rally may be on hold due to key stakeholder profit taking and high crowd FOMO,” notes the analytics firm. BTC Price At the time of writing, Bitcoin is trading at around $66,900, up more than 9% over the last week.

Bitcoin is holding strong above $67,000 after setting a new local high of around $68,300, fueling excitement among investors. This bullish momentum is driven by price action and supported by key market data signaling a potential uptrend continuation. Daan, a top crypto analyst, shared crucial insights showing that Bitcoin ETFs have been buying heavily for the past four days. This surge in institutional demand is a positive signal for the market, as it could further propel Bitcoin toward new all-time highs. The next few days will be critical for Bitcoin’s trajectory, with many traders and investors eyeing a potential breakout to historic levels. The anticipation grows as BTC edges closer to these highs, making the upcoming price movements pivotal in shaping the market’s direction. Bitcoin Demand Rising The whole market is buzzing with excitement and volatility, with Bitcoin leading the way by establishing a clear uptrend since early September. Analysts and investors are attributing part of this surge to the Federal Reserve’s recent interest rate cuts, but other significant factors influence Bitcoin’s price action. Key data shared by Daan, a top crypto analyst, reveals that Bitcoin ETFs have seen substantial inflows over the past week. The last four trading days alone have witnessed a combined $1.639 billion in inflows, making this week one of the most successful since the inception of Bitcoin ETFs. This surge in institutional demand signals that traditional investors are increasingly confident in Bitcoin’s future, driving up demand and boosting the price. Despite the current optimism, there is caution among market observers. Historically, periods of heightened excitement and euphoria in the market are often followed by price retracements or consolidation. Bitcoin tends to mark local tops when sentiment peaks, which could signal a cooling-off period before the next major move. Investors are closely watching for signs of a potential pullback or whether Bitcoin will continue to climb toward new all-time highs in the weeks ahead. Key Levels To Watch Bitcoin is trading at $67,000 after a 2% retrace from its recent local top at $68,388. Despite this slight pullback, the price is holding firmly above the previous high of $66,500, signaling a strong consolidation phase that could set the stage for another move higher. For the bullish momentum to continue, BTC must maintain its position above $66,500. If it does, the price could soon push toward new highs. However, if Bitcoin fails to hold above this critical level, a healthy retrace to the daily 200-day moving average (MA) would still indicate strength in the market. The 200-day MA has historically been a reliable support level during uptrends, providing a foundation for further gains. If the price falls below the 200-day MA, a deeper correction to $60,000 is likely. This level represents significant demand and could offer another buying opportunity before the next leg. Featured image from Dall-E, chart from TradingView

The Bitcoin price has already been up by 10% in the past seven days, breaking above the $67,000 mark again in the last few hours. The Coinmarketcap Fear And Greed Index has now switched to greed in light of recent buying momentum and is showing no signs of slowing down. The buying pressure on Bitcoin has been so great in the past few days, leading to a huge decline in the number of BTC available on crypto exchanges. According to on-chain data, this has caused the Bitcoin exchange reserve to drop to its lowest point in five years. BTC Exchange Reserve Drop to 5-Year Low Over the past few days, the demand for Bitcoin has outweighed its supply, leading to a sharp decline in the exchange reserves. According to CryptoQuant data reposted on social media platform X by crypto analyst Ali Martinez, the number of BTC held on exchanges is now at a five-year low of 2.6 million BTC. Martinez’s chart reveals an intriguing trend in Bitcoin’s exchange reserves that has unfolded throughout the year. At the beginning of 2024, the reserves stood at approximately 3.05 million BTC. However, this number has declined massively since that time. The dwindling supply of Bitcoin on exchanges can be attributed to several key factors. First, there’s the surging interest from institutional players, especially following the approval and growing momentum of Spot Bitcoin ETFs. These ETFs have triggered significant buying activity, with US-based Spot Bitcoin ETFs eventually becoming the second-largest holders of BTC behind Satoshi Nakamoto. Many long-term holders also contributed to the buying pressure, as many continued buying in droves. Even periods of price corrections and selloffs from short-term holders were highlighted by the movement of more BTC into stable long-term hands who are less likely to sell. As a result, the total amount of Bitcoin held on crypto exchanges has dropped by about 450,000 BTC since January, bringing the current reserve to just 2.6 million BTC. This is the lowest level seen since January 2019, and such a sharp decline typically signals a bullish outlook for Bitcoin. “We all know what this means,” Martinez said. What Does This Mean For Bitcoin Price? The current state of Bitcoin’s exchange reserves suggests that market participants are increasingly holding onto their BTC in anticipation of future gains, as many people continue to speculate about where the Bitcoin price could be heading in the coming months. When fewer coins are available on exchanges, it often indicates reduced selling pressure, which drives the price higher as demand continues to rise. Uptober is now fully in play, and Bitcoin is already up by 6.3% in the month. At the time of writing, Bitcoin is trading at $67,200. This notable price point puts Bitcoin on the path to breaking above its all-time high of $73,737 before the end of October.

Cardano (ADA) is crucial following days of heightened volatility and excitement among crypto investors. While other altcoins have experienced significant pumps, Cardano has yet to see the same breakout, leaving analysts and traders searching for confirmation of a bullish trend. Despite the lack of a major move, optimism remains high for ADA as market watchers await a signal to ignite the rally. Top analyst and investor Carl Runefelt recently shared a technical analysis suggesting that Cardano could be on the verge of a bullish rally, potentially pushing ADA to $0.54. This prediction has generated excitement within the Cardano community, but the next few days will be critical in determining whether ADA can follow through with a breakout. As the market remains volatile, traders will closely monitor Cardano’s price action for signs of a confirmed uptrend. Cardano Holding Above Key Level Cardano is trading above a key resistance level at $0.33, sparking optimism among analysts and investors. This crucial price point could be the springboard that propels ADA to new highs. Analysts in the crypto community believe that Cardano is poised for a breakout, and some expect a rally in the coming days. Prominent investor and analyst Carl Runefelt recently shared a technical analysis on X, highlighting a bullish pattern forming on Cardano’s chart. According to Runefelt, if ADA manages to break this pattern to the upside, the next target could be as high as $0.54, representing a potential 58% gain from current levels. This prediction has generated excitement, as ADA holders are looking for signs of a sustained upward trend after a period of consolidation. However, not all scenarios point to a smooth ride for Cardano. If ADA fails to break above this pattern, further consolidation or a potential correction could be on the horizon. The $0.33 level is now a key marker for traders and investors to watch closely in the coming days, as it could signal the beginning of a major price move—or the continuation of a more uncertain path for Cardano. ADA Technical Analysis Cardano’s (ADA) price action has been underwhelming compared to other altcoins. Currently trading at $0.34, ADA has seen a 7% decline from its recent high of $0.37 set on Tuesday. Despite some volatility, the price remains below the critical 200-day exponential moving average (EMA) at $0.40, following a failed breakout attempt in late September. For the bulls to regain control, ADA must reclaim the $0.40 level and push toward setting a new local high above $0.41. A breakout above these levels would signal a potential momentum shift and spark renewed optimism among investors. However, exceeding the $0.34 mark could lead to further downside pressure. If this level is lost, a correction to lower demand areas around $0.30 is expected. Traders are watching closely, as this level could determine whether Cardano will continue to underperform or regain its footing in the market. Featured image from Dall-E, chart from TradingView

Dogecoin (DOGE), initially a mere meme, is demonstrating significant market strength once more. On October 16, 2024, the prominent cryptocurrency surged by 16% in the weekly frame, to the delight of investors. The price surge is accompanied by a substantial rise in trading volume, which has increased by 90% in the last 24 hours, as reported by CoinMarketCap. DOGE is presently trading at $0.122, positioning it among the highest-performing cryptocurrencies in recent days. Analysts are closely monitoring these developments, with some predicting a more promising future for Dogecoin, despite ambiguous indicators in the short term. A Bold Call For $24 Ali Martinez, a Dogecoin expert, has a bullish prognosis for the canine-themed coin: DOGE can increase substantially and hit the vaunted $10 mark. On October 16, Martinez tweeted over the rising wedge patterns that have been in place since 2017. He said that this trend shows a very positive outlook for a long period of time which suggests that, in the long term, DOGE could attain a value of $24. Martinez emphasized two critical support levels from 2021 to 2024—$0.003 and $0.07. He asserts that these levels have contributed to Dogecoin’s upward trajectory, and he anticipates a significant price surge from its most recent support level. Musk’s Influence Remains Robust Meanwhile, it is impossible to have a discussion on Dogecoin without Elon Musk being mentioned. The billionaire has been openly supportive of DOGE saying ‘this is the people’s crypto’ earlier this year which appreciated its price significantly. It can be observed that, on several occasions, the price of Dogecoin has surged by more than 50% within a short span of time whenever Musk publicly expresses his support for the cryptocurrency. Hence, it is clear how much power he wields when it comes to affecting the price of the coin. The substantial user base of Dogecoin, coupled with Musk’s backing, has positioned the coin to frequently contend with significant altcoins. This positions DOGE in a compelling situation, straddling the line between a meme and a credible cryptocurrency with enduring promise. Price Projections Exhibit Variability There is however a slight degree of pessimism that has creeped into the market despite the prevailing optimism. Predictions are such that Dogecoin is likely to decrease by an estimated 13% and drop to $0.106 by the middle of November. This momentary bearish view is offered alongside bullish technical cues, particularly the Fear & Greed Index, which currently stands at 71, indicating extreme greed among investors. Over the past month, 60% of the price swings of Dogecoin have been termed as ‘green’, which has made several traders remain positive on its bullish trend adoption, irrespective of the forecasted dip. At the moment, the market outlook favors buying opportunities however it’s clear that the risk associated with volatility is very high for those investors who wish to capitalize on the current upward movement of DOGE. Featured image from Pexels, chart from TradingView

XRP trades at $0.55, aiming to reclaim old support level. Long-term holders show confidence with positive MVRV Long/Short Difference. Price targets: potential rise above $0.60 if $0.59 resistance breached, or consolidation above $0.55 if momentum wanes. XRP finds itself at a critical juncture as it steadily recovers from its late September downturn, which saw an 18% price decline. Currently trading at $0.55, the altcoin is on the cusp of reclaiming a previously established support level, potentially signaling the onset of a new bullish phase. This recovery, bolstered by long-term holder support and improving market conditions, sets the stage for a possible push towards the eagerly anticipated $0.60 mark. Long-term holders (LTHs) have demonstrated unwavering confidence in XRP, as evidenced by the Market Value to Realized Value (MVRV) Long/Short Difference. This metric has remained positive for over a month, indicating that LTHs are maintaining profitability despite recent market turbulence. The persistence of positive values in this indicator suggests a strong foundation of investor support, crucial for sustaining XRP’s recovery momentum. XRP momentum gathers strength From a macro perspective, Ripple’s momentum appears to be gathering strength. The Relative Strength Index (RSI) has shown a consistent upward trend over the past two weeks, recently closing above the neutral 50 threshold. This shift in the RSI signals growing bullish sentiment among market participants, potentially providing the necessary impetus for further price appreciation. Source: TradingView As XRP approaches key technical levels, traders are closely monitoring its ability to flip the 50% Fibonacci retracement line into support. A successful breach of this level could pave the way for more substantial gains. Furthermore, if XRP can surmount the 61.8% Fibonacci retracement at $0.59, it could catalyze a move beyond the psychologically significant $0.60 mark, a level that has served as formidable resistance in recent weeks. Should XRP’s momentum falter before challenging the $0.59 resistance, it may enter a period of consolidation above $0.55. Such a scenario would invalidate the current bullish outlook and potentially delay further upward movement.

The quest for the next big opportunity remains relentless in the crypto world, with many aiming to secure substantial returns. Amidst this backdrop, BlockDAG (BDAG) shines brightly, having successfully amassed nearly $99 million during its presale, gearing up for anticipated listings on major exchanges. While BlockDAG rides high on momentum, Cardano and Notcoin face their respective crossroads. Recent warnings suggest a potential 90% decline in Cardano’s value due to large-scale withdrawals by major holders, prompting a reevaluation among its community. Concurrently, Notcoin enthusiasts are on the edge, eyeing a potential breakout that could end the token’s prolonged consolidation period. Cardano’s Price Under Scrutiny: Analysts Forecast Sharp Decline Cardano recently saw a modest uptick of 1.8%, offering a glimmer of hope to holders. However, prominent analysts, including Bitcoin proponent Max Keiser, forecast a drastic 90% price drop within six months. Such a decline could diminish Cardano’s valuation to a mere $1 billion, a scenario that could unfold if the current trend of whale exits continues. The community remains split over this outlook, though the recent $1.1 million drop in whale netflow over the past week reinforces a bearish sentiment. Without significant positive shifts, Cardano risks falling sharply from its current levels, testing critical support and resistance markers. Notcoin Poised for Potential Uptick After Prolonged Stagnation Notcoin shows signs of readiness for a breakout, having been tightly ranged between $0.0083 and $0.0070. With a substantial volume of NOT tokens recently changing hands within this bracket, there’s a budding optimism for a rise. Should the price push past the $0.0083 resistance, Notcoin could experience a 17% increase, aiming for $0.0094. However, ongoing bearish market sentiments might cap its potential, maintaining its price within the current range. Notcoin holders remain cautiously hopeful, though the persistent consolidation period casts a shadow of uncertainty over its immediate trajectory. BlockDAG’s Almost $99 Million Presale: Priming for Major Exchange Listings BlockDAG’s impressive trajectory in the cryptocurrency landscape has captured significant attention, thanks to a record-setting presale that hints at a bright future on major exchange platforms. With an astonishing nearly $99 million raised in just a few months and over 140,000 unique holders now onboard, BlockDAG has firmly established its presence in the market. The project has become a magnet for substantial holders, commonly known as ‘crypto whales,’ who have significantly added to their stakes, driving up demand for BDAG tokens. This surge in interest has fueled widespread speculation that BlockDAG will soon secure spots on prominent exchanges, potentially marking a pivotal moment for the project. Listing on these exchanges would not only boost BlockDAG’s visibility but also enhance its credibility, setting the stage for even more robust growth in its presale efforts. Such a development is anticipated to spur further demand for BDAG coins, potentially escalating their value and offering substantial rewards for those who joined early. Currently, in its 24th batch of sales, BDAG prices have escalated from $0.001 to $0.0206, a growth of 1960%, showcasing a tremendous opportunity for those who move swiftly to seize it. The strong pull from influential market players and consistent sales achievements highlight the ongoing interest in this dynamic project. As we see over 14.3 billion BDAG coins changing hands, the current presale batch is likely nearing completion. Now might be an opportune moment to engage with this rapidly evolving project at a favorable value. BlockDAG: A Leading Crypto Contender in 2024 While other cryptocurrencies like Cardano brace for potential downturns and Notcoin holders hold their breath for a breakout, the crypto environment is rife with both uncertainty and possibilities. Amidst this, BlockDAG stands out with unmistakable momentum. Having raised $99 million by distributing over 14.3 billion BDAG coins, BlockDAG’s presale is vigorously propelling it towards anticipated listings on major exchanges. The project’s backing by substantial holders and escalating demand positions it as a key player likely to yield significant returns. While the broader market grapples with consolidation and downward trends, BlockDAG is emerging as a prime crypto asset with promising prospects for those who recognized its potential early on. 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.

Zug, Switzerland, October 17th, 2024, Chainwire Most zero-knowledge proofs are generated server-side for scaling, but Aleph Zero’s zkOS does that directly on users’ devices, offering privacy in a fraction of second Aleph Zero, the leading blockchain platform recognized for its focus on privacy and scalability, announces the launch of the first feature of zkOS (zero-knowledge operating system)—Shielding, on its EVM Testnet. This release marks the first opportunity for users to experience the shielding feature of zkOS in action, demonstrating the speed and privacy capabilities of Aleph Zero’s zero-knowledge proof (ZK) technology optimizations. Privacy at Lightning Speed The Shielding Demo release is a significant milestone for Aleph Zero, representing its commitment to developing practical privacy solutions for the blockchain industry. Aleph Zero’s zkOS enables zero-knowledge proofs to be generated client-side—meaning data is encrypted locally on the user’s device and never leaves unencrypted—providing high levels of privacy without compromising transaction speed. The Shielding Demo serves as the first practical interface for users to experience this privacy functionality, with zero-knowledge proofs generated within 0.5-3 seconds, ensuring that privacy has minimal impact on transaction performance. “Privacy has long been a challenge in blockchain, often due to poor user experience,” said Adam Gagol, Co-Founder & CTO of Aleph Zero. “With today’s release, we’re delivering one of the fastest client-side ZK directly to users, combining privacy and performance. The release of the Shielding Demo offers a glimpse into how zkOS can bring privacy to DeFi without sacrificing speed or usability.” How the Shielding Demo Works The Shielding Demo provides an intuitive interface for users to test Aleph Zero’s zkOS privacy layer. Here’s how it works: Data Privacy: zkOS generates zero-knowledge proofs locally on the user’s device, ensuring that data remains private and secure. Transaction Flow: Users generate ZK proofs, send transactions to a relayer, and then they are executed on-chain—all while maintaining privacy. Fast Proving Times: The system delivers ZK proofs in 0.5-3 seconds on most devices, demonstrating zkOS’s speed and its minimal impact on transaction times. The Testnet version of zkOS allows users to interact with the system and witness its capabilities, though Aleph Zero notes that the privacy features will be built directly into the upcoming Common app. Why zkOS Matters: A Glimpse Into the Future The launch of the Shielding Demo on Testnet is only the beginning. Aleph Zero’s roadmap for zkOS extends far beyond this initial release, with ongoing work on simplifying the user experience and the introduction of additional privacy features, such as ZK-ID and anonymity revokers, to ensure both privacy and protection against fraudulent use of the platform. The system is designed to be easily integrated by developers, providing a privacy framework that requires minimal cryptographic knowledge. This simplicity, combined with Aleph Zero’s rapid client-side ZK proof generation, makes zkOS a critical tool for developers building privacy-centric applications across DeFi and other web3 sectors. Unlocking Privacy for New Use Case The privacy space in blockchain has been facing increased challenges, such as regulatory scrutiny and delistings, often due to concerns over non-compliance. Aleph Zero’s zkOS offers a fresh approach by delivering privacy solutions that balance user confidentiality with regulatory requirements. Instead of focusing solely on anonymity, zkOS is designed to meet both the needs of users and the evolving demands of compliance. zkOS enables users to manage their assets securely across multiple blockchains, ensuring their transactions remain private. Unlike traditional privacy methods that rely on centralized or hardware-based systems, zkOS operates directly on the client-side, safeguarding privacy without external dependencies. Next Steps for Aleph Zero As the Testnet release progresses, Aleph Zero is focusing on refining Shielding and zkOS for its Mainnet deployment. Users who engage with the Shielding Demo will have the opportunity to be whitelisted for upcoming zkOS Beta testing on Aleph Zero’s EVM Mainnet. About Aleph Zero Aleph Zero is an ecosystem of blockchain solutions that are engineered for speed, data confidentiality, and ease of development. It achieves efficiencies akin to conventional web2 systems, upholds rigorous standards for data protection via zero-knowledge proofs (ZKP), and offers a comprehensive toolset for development across web3, ranging from WASM-based Rust to EVM-based Solidity environments. Aleph Zero’s versatility is highlighted by over 40 use cases being actively developed, showcasing its adaptability across various sectors and applications. These use cases are part of an engaged community and growing ecosystem of web3 applications supported by Aleph Zero programs. For more information, visit https://alephzero.org/. For any inquiries about this release, please contact [email protected] or [email protected]. Contact PR Manager Josh Adams Aleph Zero [email protected]

The closing months of 2024 are crucial for investors on the lookout for promising cryptocurrency opportunities. Among the array of choices, three coins are shining brightly in the current market. Solana is exhibiting steady growth, signalling an optimistic price outlook. In addition, Shiba Inu (SHIB) is making waves with a remarkable 5% increase in its price value. In the presale sector, BlockDAG is gaining impressive traction, with its presale approaching a remarkable $99 million. Investors are flocking to this project, as BlockDAG has extended its 50% bonus offer until October 21 due to high demand. As BlockDAG aims to finish the year strong, it is positioning itself as a top contender in the cryptocurrency landscape for 2024. Solana Price Outlook: Anticipating Future Trends Solana has made impressive advancements in the cryptocurrency landscape. Initially launched as a promising initiative, it quickly gained traction thanks to its rapid transaction speeds and impressive scalability. The Solana price outlook indicates various possibilities, but its historical performance hints at continued growth. In 2021, Solana surged past $200 from a significantly lower starting point, attracting considerable attention. As we look to the future, the Solana price outlook presents some uncertainty, yet its foundational technology suggests the potential for long-term progress. Investors and analysts are keenly observing market trends and possible regulatory shifts that could influence the Solana price outlook. Shiba Inu (SHIB) Price Value Perspective Shiba Inu (SHIB) is currently displaying encouraging signs, with its price at $0.00001797, reflecting a notable 5% increase. This rise in the Shiba Inu (SHIB) price aligns with the overall upward trend in the cryptocurrency market, driven by Bitcoin’s ascent to around $62,000. The rapid changes within the market are fueling optimism about SHIB’s growth potential. Looking forward, the speculation surrounding SHIB reaching the $1 milestone continues to capture interest. Despite recent market fluctuations, the positive momentum and a 5% increase indicate the potential for significant gains in the Shiba Inu (SHIB) price value. Investors remain vigilant, as the market’s unpredictable nature calls for a balanced sense of optimism. BlockDAG Presale Surges with 50% Bonus Extension Time is running out for those keen on the BlockDAG network as it nears its mainnet launch. There’s a unique opportunity to acquire BlockDAG at a low price of $0.0206 in batch 24, but the main highlight is the limited-time 50% bonus on BDAG coins. The exciting news is that this bonus offer, which was originally scheduled to end on October 14, has been extended until October 21 due to high demand! After this date, the bonus will no longer be available, making this a crucial time for interested buyers. Crypto enthusiasts are taking advantage of this opportunity. With BlockDAG presale batches quickly selling out, the BDAG coin is poised for significant value after the launch and major exchange listings. This excitement has led to BlockDAG’s presale raising nearly $99 million, with over 14.3 billion BDAG coins sold, establishing it as one of the most successful presales in the crypto space. The outlook for BlockDAG continues to look promising. Early investors are likely to reap considerable rewards, especially those who purchased BDAG during Batch 1, who have already enjoyed returns of 1960%. This figure is expected to increase as each batch sells out, reinforcing the positive outlook for early supporters. It underscores why BlockDAG is seen as a leading cryptocurrency to watch for 2024. With the presale anticipated to conclude in the coming months, this is the prime opportunity for buyers to acquire BDAG coins. Why? The value of BDAG is projected to rise sharply on trading platforms shortly after its launch. Make The Smart Crypto Choice Which cryptocurrency is the best bet for the upcoming year? For buyers, joining crypto still in the presale phase, such as BlockDAG, appears to be the smartest choice. While Solana and Shiba Inu are certainly performing well, BlockDAG is currently at its lowest price and is protected from sudden market fluctuations, making it a top candidate for 2024. It has the potential to experience significant growth once it launches. Remember how BTC gained momentum after its introduction? BlockDAG is positioned to follow a similar trajectory, especially with the ongoing rise in BDAG coin value during its presale phase. Discover More About BlockDAG: 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.

Miami, Florida, October 17th, 2024, Chainwire Valhalla, Floki’s revolutionary blockchain-based Massively Multiplayer Online Role-Playing Game (MMORPG), has proudly announced a new partnership with Hafthor Júlíus Björnsson, the world-renowned strongman and actor famous for his role as “The Mountain” in Game of Thrones. Hafthor is joining Valhalla as its official ambassador, marking the beginning of an exciting collaboration. This long-term partnership will bring Hafthor, the world’s strongest man and a multiple-time winner of prestigious titles such as the World’s Strongest Man and Arnold Strongman Classic, into the heart of the Valhalla universe. His unmatched strength and strategic prowess will enhance the Valhalla game experience for players worldwide. Hafthor will play a vital role in Valhalla, guiding players as they strengthen their bonds with their Veras, develop new combat strategies, and engage in dynamic in-game activities. His influence will be woven into The Tempest Forge, a monumental feature constructed during the Unleash the Thunder community event. Future developments will include a brand-new game mode where Hafthor and The Tempest Forge challenge players to face waves of Veras, helping them refine their battle skills and tactics to push their limits. In addition to his in-game presence, Hafthor will remain actively engaged with the Valhalla community, creating content and sharing exclusive updates. He will feature regularly on social media platforms and host monthly Twitch streams, where players can join him as he plays his own in-game character. This partnership will bring a new level of excitement to the Valhalla community, as players prepare to explore the game under the guidance of one of the strongest men in history. About Floki Floki is the people’s cryptocurrency and utility token of the Floki Ecosystem. Focused on utility, community, philanthropy, and strategic marketing, Floki is working toward becoming the world’s most recognized and used cryptocurrency. With over 490,000 holders globally, Floki has already established a strong brand presence. Learn more at floki.com. 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. Learn more at Valhalla.game. About Hafthor Björnsson Hafthor Júlíus Björnsson is an Icelandic strongman, actor, and world record holder, most famously known for his role as “The Mountain” in Game of Thrones. Hafthor has won multiple strongman competitions, including the World’s Strongest Man and Europe’s Strongest Man. His legacy as one of the strongest men in history continues to inspire audiences worldwide. Learn more about Hafthor at thorsapparel.com. Contact Community Relations Officer Pedro Vidal Floki [email protected]

According to a technical indicator, Solana-based meme coin Dogwifhat is gearing up for an upside move. Top analyst Ali Martinez recently shared a bullish perspective for Dogwifhat on social media platform X, with the TD Sequential indicator indicating a buy signal. TD Sequential Flashes Buy Signal At $2.5 As Ali Martinez noted, the TD Sequential has been highly spot on with predicting trends in the price of Dogwifhat for a while now. The TD Sequential indicator consists of two phases: a setup phase, which generates a count from 1 to 9 based on a specific price, and a countdown phase, which also counts down based on previous price action. Martinez shared insights from the WIF/Tether US 4-hour candlestick price chart, illustrating that the TD Sequential indicator has consistently delivered accurate buy and sell signals for Dogwifhat since the beginning of October. As it stands, the indicator is now pointing toward a buy signal. For a buy setup on the TD Sequential, the current candle’s close must be lower than the close of the previous four candles. At the time of writing, Dogwifhat has experienced a correction of approximately 14% over the past three days, having peaked at $2.958 on October 14. However, the TD Sequential on the 4-hour candlestick chart is now pointing towards the continuation of a larger upward trend for the rest of the month. What’s Next For The Dogwifhat Price? Dogwifhat’s popularity kicked off in early 2024 when the meme coin community enthusiastically dubbed it the “Shiba Inu Killer.” Dogwifhat, which started the year around $0.15, was shot into the spotlight in March and April during a frenzy surrounding Solana-based meme coins in the first half of 2024. This surge in interest caused Dogwifhat to go on a price rally, culminating in an all-time high of $4.83. Following this all-time high, the meme coin experienced a substantial correction and is now characterized by smaller rallies and corrections. However, it still remains the largest Solana-based meme coin with a market cap of $2.56 billion. Even with the recent price decline over the past three days, Dogwifhat has managed to maintain impressive gains of around 68% over the past 30 days. Now that the TD Sequential indicator is printing a buy signal, this price increase is expected to continue for the rest of what looks like a bullish October. At the time of writing, the Solana-based meme coin is trading at $2.57, with a bullish price target of $4 before October comes to a close. Solana, on the other hand, hasn’t been able to keep up with Dogwifhat gains in the past 30 days. At the time of writing, Solana is trading at $153, up by 15% in the same 30-day timeframe.

Turbo is trending at around all-time highs. The upswing started in mid-September and initiated a move up that saw the AI meme coin break above local resistances, which is now supported and propelling valuation to record highs. At press time, TURBO is changing hands at $0.010 but is down nearly 20% from this week’s highs. Turbo Team Selling: Time To Exit? According to Lookonchain analysts, the retracement from all-time highs at $0.013 early this week could be primarily due to the team dumping. The team has been sending tokens to Binance and OKX, leading to concerns about whether they are exiting the project and dumping on holders. Movements to centralized exchanges are often seen as bearish, signaling the holder’s intention to liquidate. Whether they sold or not remains to be seen at this point. However, after the signal was flagged on October 16, the token trended lower, suggesting a possible supply spike. To put the numbers into perspective, the team sent 810 million TURBO to Binance and OKX. The dump follows the team’s steady liquidation over the past few months. Since June 5, Lookonchain analysts observed that the team had deposited 1.5 billion TURBO to multiple exchanges. The Turbo daily chart shows that prices rose to $0.009 in late May. The liquidation by the team coincided with this expansion. Prices dropped sharply after sending tokens to centralized exchanges in June, losing over 65%. TURBO found support at $0.0029 before printing higher highs and eventually erupting above May 2024 highs in early October. Is This A Pump-And-Dump Scheme? If past trends guide and the team actively sells, the probability of TURBO sliding from its recent swing high remains elevated. This contraction may trigger a massive sell-off, pushing prices to $0.007—or worse. Whether the team is “pumping and dumping” remains only a speculation. However, if the team makes a statement, it could assuage fears and possibly prop up prices. For now, no definitive evidence supports any allegations of a possible pump-and-dump. Earlier this month, the United States Department of Justice (DoJ) leveled charges against GotBit, a meme coin market maker, accusing them of, among others, wash trading and involvement in pump-and-dump schemes.

As Bitcoin (BTC) edges closer to the $70,000 mark, the crypto community is abuzz with predictions of a potential surge to $100,000, accompanied by a significant altcoin season. Amidst this fervor, crypto analyst Axel Bitblaze has provided an analysis on X, examining whether the necessary liquidity and catalysts are in place to propel Bitcoin to such heights. Bitblaze emphasizes the fundamental role of liquidity in the crypto market. Drawing parallels to previous bull runs, he notes, “Our space is fully driven by just one thing, i.e., Liquidity.” He references the 2016 and 2020 bull markets, both of which were significantly fueled by increasing liquidity. This time, the question is whether similar or greater liquidity events are on the horizon to drive Bitcoin’s price higher. #1 Bitcoin Surge Set To Be Fueled By Stablecoins A cornerstone of Bitblaze’s analysis is the current state of the stablecoins market. He describes stablecoins as “the gateway to the crypto industry,” underscoring their indispensability to the crypto ecosystem. The total market capitalization of stablecoins has surged to $173 billion, reaching its highest level since the collapse of TerraUSD (UST). Tether (USDT) remains the dominant player, comprising 69% of the total stablecoin market cap with $120 billion. Bitblaze highlights the historical correlation between BTC prices and USDT’s market capitalization, stating, “Between March 2020 to November 2021, USDT MCap rose by 17x while BTC price pumped by 16.5x.” However, since March 2024, despite USDT’s market cap continuing to rise, Bitcoin’s price has remained relatively stagnant. “This indicates there’s a lot of liquidity waiting on the sidelines to enter BTC and crypto. I guess they’ll start deploying soon, right?” the analyst states. #2 FASB Rule Change Another significant factor is the impending change in accounting standards by the Financial Accounting Standards Board (FASB). Currently, publicly listed companies face challenges in holding Bitcoin due to unfavorable accounting treatments. Bitblaze explains, “Let’s say a company bought 100 BTC at $67,000 each. If BTC drops to $60,000 and then pumps to $68,000, the company still needs to report it at $60,000… they will have to show it as a loss even though it’s in profit.” This results in misleading earnings reports and adversely affects share prices, discouraging companies from investing in Bitcoin despite its potential as an asset. The upcoming FASB rule change, set to be implemented in December 2024, is poised to address this issue. Under the new guidelines, companies will be able to report the fair value of their Bitcoin holdings based on market prices at the end of the reporting period. Bitblaze suggests that this regulatory shift could incentivize more corporations to adopt Bitcoin as part of their balance sheets. He cites MicroStrategy as a precedent, noting that since August 2020, the company has accumulated 252,220 BTC worth $17.4 billion, currently realizing a profit of $7.4 billion. With S&P 500 companies collectively holding approximately $2.5 trillion in cash and cash equivalents—assets vulnerable to inflation—Bitcoin presents itself as an attractive, inflation-resistant alternative. #3 Expanding M2 Money Supply Bitblaze also delves into the macroeconomic landscape, particularly the M2 money supply, which includes cash, checking deposits, and other easily convertible near money. Currently, the M2 money supply stands at $94 trillion, nearly 39 times the total crypto market capitalization. Bitblaze references an analysis indicating that “for every 10% increase in M2 money supply, BTC pumps 90%.” Despite the M2 money supply being approximately 3% higher than its previous peak, Bitcoin has yet to surpass its 2021 highs, suggesting that ample liquidity remains untapped. “Currently, M2 money supply is almost 3% higher than its last peak, while BTC is still below its 2021 high. With Global rate cuts happening along with QE, fiat will become a worse investment. As Ray Dalio said, #Cash is Trash,# and now this gigantic money supply will find a way into different asset classes, including crypto; the analyst claims. #4 Shift From Money Market Funds To Bitcoin Since November 2021, money market funds have grown to $6.5 trillion as investors sought the safety of Treasury bills amid rising interest rates. However, with the Federal Reserve initiating rate cuts and signaling more to come, the yields on T-bills are expected to diminish, likely causing a significant outflow from money market funds. Bitblaze predicts, “This’ll cause a massive outflow from money market funds as the T-bills yield will diminish,” suggesting that investors will seek higher returns in riskier assets such as Bitcoin and other cryptocurrencies. He refers to these digital assets as “the fastest horses” in a QE environment, forecasting that this shift could channel substantial capital into the crypto markets. To quantify the potential inflow, Bitblaze aggregates the available liquidity sources: the M2 money supply of $94 trillion, money market funds totaling $6.5 trillion, cash holdings of S&P 500 companies amounting to $2.5 trillion, and the stablecoins market cap of $173 billion. This brings the total to approximately $103.17 trillion, which is 43 times the current total crypto market capitalization. He further addresses skeptics, concluded: “For a $200 Billion inflow, only 0.19% of this account needed to enter crypto. For those who think this isn’t possible and 200B is too much, BTC ETFs had over $20B in net inflows despite sideways price action, no rate cuts, and no QE.” At press time, BTC traded at $66,944.

Palo Alto, United States, October 17th, 2024, Chainwire Akord, a web3 platform for securing and managing data, also begins its migration to Walrus Protocol Mysten Labs, the web3 infrastructure company, today announced that following a successful Devnet, Walrus Protocol, a decentralized storage network, has launched its public Testnet. Walrus Protocol stores and delivers large data files, including rich media content, audio files, video, images, PDFs and more, from any web2 or web3-based source. These large files, known as blobs, are stored quickly and efficiently by Walrus, whose storage is resilient, scalable, programmable, and secure. Walrus’s public Testnet, and its Testnet token, WAL, are served by Sui as the coordination layer. Sui provides a dedicated management architecture for Walrus to store its global state and metadata offering speedy consensus, composability, and the opportunity to integrate storage into smart contracts on Sui. Walrus’s Testnet launch will include: API endpoints that support deletable blobs, meaning data can be deleted. Dedicated Walrus explorer, allowing users to search data quickly and comprehensively, built by Stakestab Inc, maker of Suiscan & Blockberry API Platform. Full tokenomics ecosystem for the Walrus token, WAL, including epoch management, staking and unstaking, and rewards, as well as the WAL token faucet for developers. WAL staking app, developed by Mysten Labs. “As blockchain projects aim to become more decentralized, it has been apparent for quite some time that a decentralized storage network was needed for networks of all kinds, L1s and L2s, to support end-user applications with rich media and larger storage needs,” said George Danezis, Chief Scientist and Co-Founder at Mysten Labs. “Walrus Testnet going live is a pivotal moment in that journey. With Akord and Decrypt beginning the migration over to Walrus, we’ll begin to see that a decentralized storage network can be used to bring various applications to a mass audience.” Coinciding with the launch of Walrus’s public Testnet, Akord, a secure storage and collaboration platform, providing user-friendly, cost-effective, and decentralized storage solutions for any digital asset, announces its migration from Arweave to Walrus. Akord is set to migrate to Walrus within the next week. The move comes on the heels of Decrypt Media’s recent announcement of its plans to integrate with Walrus, making the publication the first media outlet to commit to storing media articles and video content on Walrus. “At Akord, our mission is to create a platform that empowers individuals and businesses with meaningful data ownership – the ability to secure data publicly and tokenize it, or store it privately with end-to-end encryption, controlling the keys and access,” said Pascal Barry, CEO of Akord. “Migrating to Walrus allows us to offer our existing customers a more cost-effective, versatile and performant solution, as well as giving us the opportunity to realize our mission at a much larger scale.” Powered by a system that divides large data files into smaller fragments, referred to as ‘Red Stuff,’ Walrus distributes slivers of data files across various storage nodes. This process ensures that even if some pieces go missing, the whole of the data can still be reconstructed. This approach reduces the need for data redundancy, allowing the network to grow seamlessly while ensuring fast and reliable access to data. Walrus introduces advanced storage verification through proofs and attestations, incentivizing nodes to store slivers of each file. Instead of verifying individual files, Walrus assesses the entire storage node, significantly lowering the cost of proving data storage. Walrus, whose original contributor is Mysten Labs, launched on Devnet in June 2024. Its whitepaper was available as of September 2024, presented by Janet Wu, Head of Product, Platform, at Mysten Labs, at Sui’s Singapore Builder House Event. Walrus Mainnet is slated to launch in 2025. About Mysten Labs Mysten Labs is a team of leading distributed systems, programming languages, and cryptography experts whose founders were senior executives of Meta’s Novi Research and lead architects of the Diem blockchain and Move programming language. The mission of Mysten Labs is to create foundational infrastructure for web3. Learn more: https://mystenlabs.com. About Walrus Walrus is a next-generation decentralized storage network for data and rich media content such as large text files, videos, images, and audio. Leveraging innovations in erasure coding, Walrus offers exceptional data availability and robustness with minimal replication overhead for cost efficiency. Powered by Sui as the coordination layer, Walrus scales to hundreds or thousands of networked decentralized storage nodes without compromising performance. Learn more: https://www.walrus.xyz/. About Akord The Akord platform is built on a digital vault protocol that offers file management, end-to-end encryption, file sharing, access control, minting and token gated access. The platform consists of an app, API, SDK and CLI with a strong focus on user and developer experience. Learn more: https://akord.com/ Contact Lexi Wangler Mysten Labs [email protected]