Headlines
▌Report: Bitcoin to Continue Volatility in October
According to the latest report from Bitfinex Alpha, the average volatility of Bitcoin since early October has been greater than the volatility of the asset over the past 200 days in history. Analysts predict that this situation will continue at least until the end of this month.
The report also suggests that geopolitical uncertainties may trigger safe-haven moves in the cryptocurrency market. It states, “Bitcoin and other cryptocurrencies’ isolated high volatility events are continuing to rise, and with historical volatility staying above key average levels, this trend may continue.”
Market
As of the time of writing, according to coinmarketcap data:
- Relationship between Monolithic Blockchain and Modular Blockchain Ecosystem Like the binary stars of Tatooine, equal and coexistent.
- LianGuai Observation | Galxe Hacked Centralized Front-end as a Breakthrough Point, DNS Hijacking or a Stubborn Problem
- Helius In-Depth Explanation of the Latest Upgrade of Solana Labs Validator Client Solana v1.16 Update
BTC recent trading price is $27,571, with a daily change of +0.46%;
ETH recent trading price is $1,578.78, with a daily change of –0.47%;
BNB recent trading price is $205.38, with a daily change of -0.70%;
XRP recent trading price is $0.5023, with a daily change of +0.07%;
DOGE recent trading price is $0.0586, with a daily change of –0.24%;
ADA recent trading price is $0.2516, with a daily change of +0.46%;
SOL recent trading price is $22.07, with a daily change of -0.60%.
Policies
▌Brazilian Securities Regulator Plans to Establish Tokenization Sandbox in 2024
The Brazilian Securities Regulator, Comissão de Valores Mobiliários (CVM), plans to launch its second regulatory sandbox program in 2024.
Daniel Maeda, the head of investor supervision at CVM, announced during Rio Innovation Week that the regulatory body will explore the possibility of a tokenization use case regulatory sandbox starting from 2024. Maeda stated that the regulatory agency has launched the second sandbox program following positive experiences with tokenization of around $36 million in assets. The head further added that CVM plans to wait for changes related to the Brazilian cryptocurrency market, including changes with the country’s central bank digital currency, Drex.
Blockchain Applications
▌SAGE Labs, a Solana-based Game, Has Daily Trading Volume of Over 2.29 Million Transactions, Surpassing Total Transactions on the Polygon Network
According to data from the blockchain explorer Polygonscan, SAGE Labs is a browser-based sci-fi game experience offered by the Star Atlas team on Solana. The trading volume on Sunday exceeded 2.29 million transactions, surpassing the total transactions on the Polygon network by approximately 256,000 transactions.
According to data from the analytics platform Flipside Crypto, the total trading volume of SAGE Labs has exceeded 16 million transactions since its launch last month. This browser game offers a fully on-chain experience, requiring users to use a wallet on the Solana blockchain to sign almost every interaction, triggering a small amount of gas fees to verify each transaction.
▌Arkham: Tornado Cash remains the largest cryptocurrency mixer on Ethereum despite being sanctioned by the US Treasury Department
Arkham tweeted on X platform (formerly Twitter) that Tornado Cash remains the largest cryptocurrency mixer on Ethereum even after being sanctioned by the US Treasury Department in August 2022. In the past 30 days, $77.35 million worth of assets have been transferred through its contract on the ETH mainnet.
Tornado Cash operates on 7 different chains and obfuscates the transfer of 10 different cryptocurrencies. The most mixed asset is native ETH on the Ethereum mainnet, with Tornado Cash holding over $700 million worth of ETH in its contract at its peak in July 2021. After being sanctioned by the US Treasury Department, Tornado’s assets shrunk by over 60% and the transaction volume significantly declined. However, despite two-thirds of Tornado’s founders being arrested, the TVL (Total Value Locked) and transaction volume have since recovered, with Tornado’s TVL currently at around 118,300 ETH ($187.9 million).
▌HashLianGuaick Wallet releases version 9.1.1, adding account key change functionality
HashLianGuaick Wallet announced the release of version 9.1.1, which includes the addition of account key change functionality. Users can find the tool to regenerate keys in the “Advanced Tools” section of the menu. After changing the key, users need to update other wallets that imported the account.
Other updates include fixing account ID lookup errors when an account has a large number of transaction histories and fixing edge cases where approving dapp transactions would result in invalid signature errors.
Cryptocurrency
▌$20 million RWA loan on DeFi platform Goldfinch encounters issues
Fund management platform Warbler Labs stated in a protocol governance forum post that the $20 million RWA loan in the decentralized lending pool of Goldfinch is facing issues due to the borrower Stratos’ bet on a real estate technology company and digital asset investment not meeting expectations.
The troubled fund pool provided a four-year loan of $20 million (USDC) stablecoins to fintech credit fund Stratos in February 2022 at an interest rate of 11%. Warbler Labs acted as the underwriter. Warbler revealed that around $7 million of funds are now at risk of loss, and the remaining $13 million has been allocated to e-commerce marketplace management startup Threecolts, which has been “performing well.” Warbler Labs stated that it will compensate all losses for the pool investors.
▌Large Bitcoin mining companies’ average hash rate increased by 13.88 EH/s in the third quarter
The average network hash rate of large Bitcoin mining companies saw significant growth in the third quarter. Seven companies largely drove this growth, including Bitdeer, CleanSLianGuairk, Marathon Digital, Cipher, Bit Digital, Bitfarms, and HIVE. According to data from TheMinerMag, these companies had an average monthly Bitcoin hash rate increase of 13.88 EH/s from June to September.
Data shows that the companies with the best performance in terms of computing power growth in the third quarter are Bitdeer, CleanSLianGuairk, and Marathon Digital, with growth rates of over 120%, 43%, and 38% respectively.
▌Report: Very low illegal fund risk for Ethereum staking providers
According to a new report from digital asset infrastructure provider Northstake, Ethereum staking providers face very low illegal fund risk. Among the three protocols reviewed in the report, the total amount of illegal and high-risk exposure is very small, ranging from 0.46% to 1.56%. Although the proportion is small, the report believes that this may still pose a challenge for institutional investors subject to strict regulatory constraints.
Important Economic Developments
▌Fed Vice Chair Jefferson: Will be mindful of tightening effects caused by rising yields, Fed can “proceed cautiously” in better risk balance
Fed Vice Chair Jefferson stated that the Fed will be mindful of the tightening effects caused by rising yields and can “proceed cautiously” in better risk balance. It is premature to confidently say that our policy is already sufficiently tight, as in the past, the rise in long-term yields may have meant that investors believed in stronger economic growth and the need for a higher and longer path of Fed interest rates.
LianGuai Encyclopedia
▌Long Positions and Short Positions
Long and short positions represent opposite strategies used by investors and traders to speculate on price movements of considered assets. In cryptocurrency trading, long positions are initiated by buying assets with the hope that their prices will rise, while short positions are initiated by selling assets (often borrowed assets) with the hope that their prices will fall.
Disclaimer: As a blockchain information platform, LianGuai’s published article content is for informational reference only and should not be regarded as actual investment advice. Please establish the correct investment concept and be sure to increase risk awareness.
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