What happened in crypto in the past week? What else? Bitcoin does not care about the US politicians' ideas. Stablecoin is the buzzword for the moment. North Korean hackers made some money last week. What else? Read below:
- Bitcoin: Strategy bought 850 more BTC, but the stock dropped anyway, pointing to a potential 50% peak. MetaPlanet crashed 40% last week, but they just bought another 5419 BTC, making them the fifth-largest corporate Bitcoin holder globally. They now own 3% of all Bitcoin that will ever exist. Bitcoin dropped in value as a whale sold 2011-era 80K BTC worth $9.6B. Yet, we now have 241.700 BTC millionaires, up 40% from last year. Bitcoin reaches a historic compression level. Even as BTC reached $124K recently, it was still outperformed by altcoins. Not to mention that now we have a new risk, national treasuries potentially crashing the Bitcoin ecosystem, as we could see in the recent German Government sale. According to the numbers, Bitcoin does not care about the US government shutdown. It looks like government shutdowns are now boosting Bitcoin. Cool! And we are back on track, with Wednesday Bitcoin ETFs pulling in half a billion. Experts are already waking up in the morning, predicting 150K by the end of the year.
- Ethereum: Vitalik has a plan for low-risk DEFI to become the network's Google Search, a boring but profitable revenue engine that funds everything else. Will this work? Bitcoin and Ethereum ETFs lost $439M in a single day. Bitmine believes that we are in a 10-15-year ETH supercycle, with $10K-$12K by the end of the year, and to prove that, they bought enough ETH to own over 2% of the total supply, becoming the biggest ETH whale. Sharplink just announced they are putting its Nasdaq-listed stock directly on the ETH blockchain. ERC-8004 AI, proposed by the Ethereum Foundation, is positioning ETH as infrastructure for decentralized AI agents with on-chain identity verification. This is quite ironic, as the ETH main problem is that it has no unified identity. ETH Fusaka upgrade is coming on December 3, with scalability improvements.
- Altcoins and stablecoins: Metamask has a new native stablecoin of its own, called mUSD, and it will be initially launched on ETH and Linea. One wallet that bought $APX back in 2022 has just gone from $226K to $7M. Aster came out of nowhere and dethroned decentralized exchange Hyperliquid. Yzi Labs makes a huge bet on the USDe stablecoin. One UAE wealth fund, M2 Capital, dropped $20M on Ethena's governance token - ENA. AgriForce Growing Systems sold all its Bitcoin to create an Avalanche treasury, and its stock doubled in value overnight. World Liberty financial adviser bets big on AVAX too, opening a x10 leverage position with $2.2M. Ripple's stablecoin, RLUSD, landed a spot on Securitize's tokenisation platform, giving institutional investors a new way to exit BlackRock and VanEck's tokenized funds. Franklin Templeton is expanding its $732M tokenized money market fund to the BNB chain, and they are already operating on 8 different blockchains, including ETH and SOL. Paypal stablecoin made a massive DEFI move, teaming up with Spark Protocol, and they have already attracted over $115M in PYUSD deposits since August. It is all about stablecoins these weeks, even Polkadot wants its own stablecoin - pUSD, an algorithmic stablecoin backed entirely by DOT tokens. Nine major European banks are collaborating to launch a euro-denominated stablecoin regulated under the EU's MICA framework. Solana attracted massive inflows while everything else crashed around it. We had a BNB ATH at $1080. The altcoin ETF floodgates were open, and Solana, XRP and LTC ETFs are now a certainty. Melania promoted her token after 10 months of silence. Not a good sign. A lot of money-grabbing looks. 250M XRP was moved to be sold to the exchanges, and the team stated that this is not any of its members.
- NFTs and blockchain games: I have enjoyed playing Golem Overlord lately on Hive, and it is quite profitable, I would say, with some significant updates lately. On Splinterlands, we have had the Land NFT new update and improved tokenomics on March 18. The presale of its latest Conclave Arcana collection is ongoing, and two new promo cards are still on sale in some interesting ways (auction and raffle).
- Good news: FTX creditors just got another payout on September 30. The UK and the US just launched a joint crypto task force that could reshape global digital asset rules. UAE will track your crypto trades and share them with authorities worldwide. Japan is making smart policy changes regarding crypto, leading to a double increase in the total number of crypto adopters. The most crypto-obsessed nations are now Singapore and the UAE. Honeycomb acquired GameShift. The SEC wants stocks on the crypto exchanges. RobinHood and Kraken are there, and Nasdaq requested approval too. The tokenized gold market is now near $3B, as bullion hits a record high above $3800.
- Bad news: If you are a scam hunter, Bubblemaps just launched a platform that pays crypto detectives in BMT tokens for uncovering scams and suspicious activity. Crypto market lost a billion, with BTC dropping 4%, ETH 7.5%, and Dogecoin and Solana being the worst performers, after they both lost 21%. North Korean hackers exploited the Seedify fund. A Chinese woman was convicted in the UK for a $6.9B BTC fraud in China. Thailand plans to expand crypto ETF offerings beyond Bitcoin.
- Joke of the week: Arthur Hayes predicted a crypto surge, while others are sceptics, but he does not exclude a $90k-£95K value before that happens. While he carries the fate of the whole world on his shoulders, he sold his entire Hype position for over $800K profit, just to put a deposit for a new Ferrari. Next, he will become a monk, probably. Circle also almost made it here, as they are looking for a way to bring reversible transactions, hey, this is not what the blockchain is, really, check what immutable means.
All the best,
George
Why not...
...have fun and win rewards on my favourite blockchain games (Splinterlands- a Hearthstone-like card game) (Golem Overlord - a Play2Earn game on Hive) (Upland - a real-life virtual land) (Holozing - a Pokemon-like game)and ( Chain of Legends - with a hint of Heroes of Might and Magic).
...get crypto while writing on the Publish0x blog, using the Presearch search engine to maximise your income with PRE tokens. Use Torum instead of Twitter. I am also writing for crypto on Hive.
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