Crypto market

BTC – $34103 -1.05%.

  — FLOKI, SFX, NEO (as expected, the price has risen)

  — HEX, MINA, GALA.

BTC dominance - 54.03%.

Altseason index 14.

Investor Greed 70

 

WHAT TO EXPECT?

 

The market is now short and long in both directions. But until the weekly candle closes and the picture emerges, I do not recommend shorting. High risk of liquidation.

 

Uniswap founder burned 99.9% of HayCoin shares, token skyrocketed

Uniswap founder Hayden Adams shocked the cryptocurrency world by burning 99.9% of his HayCoin (HAY) holdings. This led to a rally and the altcoin reaching a new all-time high of $4.5 million after an almost 300% increase in the last 24 hours. Interestingly, the token has increased by over 785% since hitting a low of $373,257 5 days ago. At the time of Adams' burn, HAY was trading at $657,000.

 

No jury or guilty plea: Sam Bankman-Fried gave his first testimony

On Thursday, October 26, the former head of the FTX exchange, Sam Bankman-Fried (SBF), began testifying. However, before that, Judge Lewis Kaplan gave the jury the day off - they will hear the defendant's evidence later. Perhaps in a shortened version.

The judge noted that based on the results of Bankman-Fried's testimony, he will make a decision about exactly how much of SBF's testimony the jury should hear. The Wall Street Journal notes that such practices are “relatively rare.”

Lewis Kaplan also said that the case will likely conclude in the first half of next week, CoinDesk writes.

 

Worldcoin operators will be rewarded in WLD instead of USDC

The Worldcoin Foundation announced the transition of Orb operators to payment in WLD instead of USDC. The organization plans to complete it in November 2023.

Note that Orb operators conduct retinal scans of users who want to join the Worldcoin network. Previously, they were rewarded in USDC, but now the ecosystem development fund is looking to change this approach.

On October 10, 2023, the organization launched a pilot program in which some operators were rewarded in WLD. According to the fund, this will strengthen the position of the token and increase its circulating supply.

 

About $400 million of positions were liquidated due to the Bitcoin surge.

The vast majority of traders bet on a market correction, which led to the forced closing of their short positions

The amount of liquidations of margin positions of traders on large crypto exchanges due to jumps in cryptocurrency rates over the past 24 hours exceeded $400 million. Including, according to Coinglass, more than 94 thousand orders worth over $221 million for Bitcoin and more than $59 million for Ethereum were forcibly closed . The largest single Margin Call occurred on the Binance exchange in the BTC/USDT pair in the amount of $9.98 million.

 

The world's largest investment company BlackRock paid a fine of $2.5 million to the SEC for inaccurate information

Investment firm BlackRock has paid a fine of $2.5 million, thus settling a lawsuit by the US Securities and Exchange Commission (SEC), which accused it of providing inaccurate information. This is stated in a message on the SEC website.

   From 2015 to 2019, BlackRock's Multi-Sector Income Trust (BIT) invested in film production company Aviron Group, LLC. The SEC alleges that BlackRock failed to accurately describe its investment in the entertainment industry by misrepresenting Aviron as a diversified financial services company.

   In addition, the investment company erroneously stated that Aviron paid a higher interest rate than it actually was, the SEC noted.

   In 2019, BlackRock acknowledged these discrepancies and amended its disclosure materials to accurately reflect the financial data for its investment in Aviron. BlackRock did not agree or disagree with the SEC's allegations. The investment company agreed to pay a fine of $2.5 million.

 

Polygon has begun migrating MATIC tokens on the Ethereum network to the new Polygon Ecosystem Token (POL).

On October 25, the Polygon Labs team implemented a smart contract on the Ethereum mainnet for the new Polygon Ecosystem Token (POL), which is intended to replace MATIC.

Specific proposals to replace the MATIC utility token with POL appeared in September. The asset also uses the Proof-of-Stake (PoS) consensus mechanism.

The Polygon team said the coin “will facilitate the creation of a vast ecosystem of layer-2 solutions based on zero-knowledge proofs.”

POL also paves the way for other aspects of the Polygon 2.0 roadmap, including the creation of a separate staking layer, the upgrade of the current PoS mechanism to zkEVM-2, and the development of a common liquidity protocol.

 

Floki Inu launches tokenized asset platform

The Floki Inu cryptocurrency team will launch the TokenFi asset tokenization platform on October 27th. The native TOKEN coin will be released into circulation.

The Floki Inu team on the X social network announced the launch of an asset tokenization platform. The name of the platform is TokenFi, the release is expected on October 27, 2023.

TokenFi will make it easier to tokenize cryptocurrencies from other blockchains and traditional assets. According to Floki’s own estimates, the token asset market will reach $16 trillion in 2030. And, of course, the team wants to occupy part of the niche. Confidence in the future is given by the opinion of BlackRock, which believes that tokenization is part of the evolution of the financial market.