29-10-2024

Author

Fernando Fierro
October 29, 2024

Howdy folks,

🚀📈 Crypto markets are buzzing with activity, as CoinShares reveals a whopping $901 million weekly inflow, predominantly in Bitcoin, driven by US election narratives. Republicans' crypto-friendly stance and recent political shifts stimulate Bitcoin's dominance, while Ethereum witnesses a $35 million outflow.

Noteworthy speculations by investors like Paul Tudor Jones point to Bitcoin and gold as potential safe havens amid election uncertainties and inflation fears.

In other news:

🥋💱 1inch is taking a bold step to make crypto mainstream through an unexpected partnership with the Bruce Lee Estate. Launching the "Take Crypto seriousLee" campaign, they aim to redefine crypto’s image, much like Bruce Lee popularized martial arts.

While the campaign hasn't gained large traction yet, it highlights the persistent challenge of integrating crypto into everyday life.

🧛‍♂️🔍 Bitcoin faces a "vampire attack" as centralized entities like ETFs and wrapped Bitcoin tokens potentially threaten the network's stability and miner incentives. While Bitcoin was created to decentralize control, the growing dominance of centralized third parties introduces uncertainties, with enthusiasts urging users to resist these pressures.

However, despite these concerns, miner confidence remains high as Bitcoin's hash rate reaches record levels, indicating optimism for future BTC price growth.

💰🔍 FTX's bankruptcy estate scores a $225 million settlement with Bybit, marking a hopeful step for creditors who suffered $11 billion in losses during the 2022 collapse. Despite the payout falling short of the initially sought $953 million, the recovery strengthens FTX's position to repay customers, potentially offering up to 118% compensation by the year's end.

This boost in finances raises hopes for over two million creditors, but the ultimate success awaits court approval on November 20, 2024.

DailyCoin Daily Meme

Metaplanet’s Bitcoin Stash Tops 1,000 BTC Following Latest Buy

The Japan-based investment firm continues to stack BTC, staying true to its bold vision.

Hong Kong Backs Crypto with New Virtual Asset Index

Traditional finance continues its crypto transformation as the Hong Kong Exchange introduces benchmark crypto pricing.

Robinhood Debuts U.S. Presidential Election Event Contracts

Robinhood enters the U.S. presidential election prediction market via its derivatives platform.

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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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