09-10-2024

Author

Fernando Fierro
October 09, 2024


Howdy folks,

🚀⚖️ Crypto.com is suing the SEC, arguing that the regulator has overstepped its jurisdictional bounds in classifying most crypto transactions as securities, aside from Bitcoin and Ether. This bold move arose after the SEC issued a Wells notice, suggesting potential formal charges ahead.

As Crypto.com seeks regulatory clarity, it hopes to redefine the landscape for crypto regulation in the U.S.

In other news:

🚀📈 Solana leads the charge in Q3 2024 with a notable $1 billion in bridged net inflows, challenging Ethereum's market dominance by outperforming it in several areas, including price growth and user activity. Despite Solana's impressive gains, Aptos emerges as a formidable rival thanks to its burgeoning GameFi sector, yet Solana still maintains a lead in daily active users.

Meanwhile, Ethereum continues to hold a 45% stake as the dominant Layer 1 chain, as measured by the Comprehensive Network Dominance Index, though it faces new challenges from rising Level 2 chains.

🌟🎤 Cardi B has joined the celebrity token bandwagon with the introduction of her $WAP token, sparking speculation surrounding its authenticity as fears of a hack surface. Despite substantial buzz from her 35.6 million followers, concerns over the legitimacy of the token remain as analyst warnings about celebrity-backed memecoin risks intensify.

Whether this represents a legitimate project or another notorious pump-and-dump scheme is yet to be confirmed, but many remain skeptical.

🚀📈 Solana skyrockets to the forefront of token creation, accounting for a massive 87% of new launches, driven largely by memecoins. The platform's scalability, low fees, and ease of use attract developers and celebrities alike, resulting in a surge of new tokens.

However, concerns arise over the lack of utility and potential scams, as many memecoins face criticism and sharp price declines, highlighting possible risks to network stability and price performance.

DailyCoin Daily Meme

WIF, POPCAT Tumble Double-Digits as Solana Founder Chimes In

Did the Solana meme coin outburst this year push alternative tokens with utility to compete on value alone?

Bitcoiners Demand Satoshi’s Identity Remain Secret

As a new documentary threatens to expose Bitcoin’s creator, the crypto community grapples with the implications of unmasking Satoshi.

Polymarket Shatters Weekly Volume Record as Election Bets Ramp Up

The platform shows no signs of slowing its roll as it continues attracting recognition.

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DISCLAIMER: The content provided does not constitute financial advice. This newsletter is purely educational and should not be considered as investment advice or a recommendation to buy or sell any assets or make any financial decisions. Please exercise caution and do your own research.

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