Author: NBTC
Today, enjoy the Empire newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Empire newsletter. Happy Fri-yay! It’s been a weird week as we not only clean the skeletons out of our closets but also prepare for the last few months of the year. But no one’s had a worse week than ETH, which is down 10% so far this week (though things are starting to look up today). So much for a bullish start to Q4. All that aside, there are some bullish trends on the horizon. For example, Permissionless is just a…
There is evidence of impending volatility as open interest in Bitcoin futures has increased to about 89,000 BTC on Binance. As new money is entering the market and positions are being established in anticipation of significant price action, this increase in open interest indicates a rise in trader activity and frequently portends sharp price movements. Traders are usually taking large bets on future market directions when open interest is this high. Still, the ramifications can change based on the mood of the market. A bullish slant to the market may indicate that traders are getting ready for a price breakout.…
Tether’s USDT, the largest stablecoin by market cap, plays a vital role beyond crypto markets, especially in countries grappling with inflation and weak financial infrastructure, according to Tether CEO Paolo Ardoino. Tether’s USDT Reaches Beyond Crypto Markets, Says CEO Paolo Ardoino In an interview with Bullish CEO Tom Farley, Ardoino highlighted that USDT has become the most widely used digital dollar globally and is proving to be significant outside the US. Stablecoins like USDT are primarily designed to provide stability in volatile crypto markets by being pegged to real-world assets like the US dollar. But Ardoino noted that in countries…
Sui, the pioneering Layer 1 blockchain known for industry-leading performance and infinite horizontal scaling, today announced the successful deployment of Mysticeti on Sui Mainnet after a successful run on Testnet. This innovative protocol cuts consensus latency to an astonishing 390 milliseconds, establishing Sui as the fastest consensus layer in the industry. Developed from extensive research into Byzantine fault tolerance (BFT) consensus mechanisms, Mysticeti represents a significant advancement from Narwhal-Bullshark, the consensus algorithms launched with Sui Mainnet over a year ago. Mysticeti achieves unprecedented transaction speeds, extending Sui’s impressive low latency performance across all transaction types on the network. Sui’s object-oriented…
Attorney Fred Rispoli provides a detailed outlook of the potential timeline for the SEC v. Ripple appeal in the U.S. Court of Appeals for the Second Circuit. The lawyer issued the analysis after the SEC filed an appeal notice in the Southern District of New York yesterday. Following the development, Attorney Rispoli highlighted the process and potential timeline of the appeal resolution. Opening Briefs Timeline According to the lawyer, the SEC appeal brief will likely be due on December 2. However, he speculated that the commission might request a 30-day extension, potentially moving the deadline beyond January 1, 2025. In…
The native token of Farcana, a Bitcoin shooter game developed in the UAE, has achieved remarkable success, securing the top position among shooter game tokens on CoinGecko. The $FAR token also ranks first on the Bybit exchange, reflecting significant investor interest. Farcana also revealed to its community about the closed text through an X post, urging the crypto community to take part to win NFTs. We are organising a closed playtest for Farcana. You have a chance to win exclusive NFTs. October 4th-6th.Time: 6 PM – 10 PM CET each dayRegister now or regret later: https://t.co/Zr7GAEh1uK pic.twitter.com/NdrbnPiWX6 — Farcana (@FarcanaOfficial)…
Hong Kong Virtual Asset Exchange (HKVAX) has secured licensing from Hong Kong’s Securities and Futures Commission (SFC) to operate a virtual asset trading platform. The approval makes HKVAX the third licensed crypto exchange in the city and the first to be authorized under the virtual asset regulatory framework introduced two years ago. HKVAX licensing According to an Oct. 4 statement shared with CryptoSlate, HKVAX obtained a Type 1 license for securities trading and a Type 7 license for offering automated trading services. The exchange also acquired an Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO) license from the SFC. HKVAX specializes…
Chromia has announced its latest partnership and strategic investment in Elfa AI, an AI-powered social platform that offers real-time, data-driven insights to help users navigate the fast-moving crypto market. This marks the first initiative backed by Chromia’s Data and AI Ecosystem Fund, dedicated to projects that harness data in innovative ways within the blockchain space.—Elfa AI simplifies the process of identifying market opportunities by leveraging artificial intelligence to analyze vast data from platforms like X, Telegram, and other on-chain sources. The platform provides users with customizable signals based on their preferences, enabling them to trade cryptocurrencies directly within the app…
The unidentified Bitcoin (BTC) whale has become unexpectedly active in the last 24 hours, increasing the cryptocurrency accumulation in its wallet and bringing its share to 12,131 BTC. According to data from Arkham Intelligence, the address “bc1qmpn” originally appeared on on-chain radar two weeks ago, when it landed 16.87 BTC, equivalent to $1.01 million. The funds came from another unknown address under the name “bc1qcacv.” Then, eight days later, the new whale received another 176.616 BTC, worth another $10.63 million, and its activity stopped for a while. However, in the last 24 hours, an unknown large player began to aggressively…
The project demonstrated that tokenized assets could be used to meet intraday margin calls instantaneously, regardless of traditional settlement cycles, processing times and time zones, Digital Asset’s Kelly Mathieson said. Tokenized gold allowed the precious metal to be used more freely as collateral without traditional limitations like storage, a World Gold Council executive noted. Real-world asset tokenization company Digital Asset said Tuesday that it completed a pilot initiative to tokenize U.K. bonds (gilts), Eurobonds, and gold for financial transactions using the Canton Network protocol. Major securities settlement provider Euroclear, the World Gold Council and global law firm Clifford Chance also…