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💰 MicroStrategy eyes trillion-dollar valuation in bitcoin bank endgame, Michael Saylor tells Bernstein MicroStrategy has aggressively acquired bitcoin since 2020, leveraging debt and equity to maximize returns and outperform many traditional investments. The firm’s latest purchase of 7,420 announced last month took its holdings to 252,220 BTC, currently valued at just over $15 billion, against a total cost of around $9.9 billion and $4 billion worth of debt. That’s the equivalent of 1.2% of bitcoin’s total 21 million supply — making MicroStrategy the largest corporate bitcoin holder in the world. Source https://t.me/Blockchain_Explained

💰 Mt. Gox extends creditor repayment deadline to 2025 The trustee overseeing the collapsed Japanese crypto exchange Mt. Gox has extended the creditor repayment deadline by one year to Oct. 31, 2025, according to an Oct. 10 statement. The exchange’s Rehabilitation Trustee, Nobuaki Kobayashi, stated that the extension was necessary to complete the repayment process for all creditors. The previous deadline had been set for Oct. 31, 2024. Source https://t.me/Blockchain_Explained

💰 Compass Mining Partners With Mindshift to Expand Bitcoin Mining in South Korea Compass Mining has announced a partnership with Mindshift, a licensed digital asset service provider in South Korea, to extend bitcoin mining services to the region. The collaboration aims to address challenges like high electricity costs while making bitcoin mining more accessible to South Korean residents. Source https://t.me/Blockchain_Explained

💰 Standard Chartered says solana price could surge fivefold by end of 2025 if Trump wins presidency Based on current prices and the potential implications of Donald Trump winning the U.S. presidential race, Standard Chartered's Geoff Kendrick forecasts that by the end of 2025, solana's price could increase fivefold, ether could rise fourfold, and bitcoin could triple in value. "In rough terms from today’s prices under Trump I predict the following multiples by year-end 2025: 5X, ETH 4X, BTC 3X," the Standard Chartered Global Head of Digital Assets Research said in a Tuesday note. Source https://t.me/Blockchain_Explained

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💰 L2 Scaling Challenges May Undermine Ethereum and Bitcoin’s Long-Term Security Ethereum and Bitcoin, two of the world’s largest blockchains, are facing significant challenges in scaling their networks. As more users and transactions move to layer two (L2) solutions, these systems could undermine the security and sustainability of the base layer (L1), with fees and rewards for miners and validators dwindling. Source https://t.me/Blockchain_Explained

💰 US spot Bitcoin ETFs log $300 million weekly outflow, reversing three-week trend US-based spot bitcoin exchange-traded funds logged a modest daily inflow on Friday, but ended the week with a net negative outflow for the first time since Sept. 6. The total net assets held by the funds has declined from $61.21 billion on Sept. 27, one week ago, to $57.73 billion following the week's outflows and bitcoin's decline in price from about $65,000 on Friday the 27th to about $62,000 on Friday, Oct. 4th. Source https://t.me/Blockchain_Explained

💰 Mass Liquidations Impact Over 100,000 Traders Amid Crypto Market Downturn Bitcoin’s price briefly dipped to an intraday low of $59,860 shortly after 9 a.m. EDT on Oct. 3, 2024. As of 1 p.m., the cryptocurrency is trading above the $60,000 mark, though it continues to face challenges in maintaining this key psychological level. Source https://t.me/Blockchain_Explained

💰 Bitcoin’s historic ‘Uptober’ trend faces challenges amid high futures interest, cooling spot buys Bitcoin’s (BTC) usual strong performance in October is threatened by high open interest in futures contracts and flattening buying activity by spot investors, according to the Sept. 30 edition of the “Bitfinex Alpha” report. The report highlighted that October has consistently delivered strong results for Bitcoin, with an average return of 22.9% and a median return of 27.7% since 2013. Source https://t.me/Blockchain_Explained

💰 CleanSpark CEO expects bitcoin to peak near $200,000 this cycle: Bernstein In an interview with analysts at research and brokerage firm Bernstein, CleanSpark CEO Zach Bradford said he expects bitcoin to reach a peak of nearly $200,000 this cycle. “Based on my current analysis, I believe we could see bitcoin peak just under $200,000, sometime in the next 18 months. That’ll likely be a peak. But I do think we’ll see a rapid jump, and then hopefully, an extended elongated period of it being up before we revisit a bear cycle,” Bradford told Bernstein’s Gautam Chhugani, according to a Monday note to clients. Source https://t.me/Blockchain_Explained

🪙 Ethereum Liquid Staking Hits 14M ETH Milestone, Adding 1.77M in 2024 According to recent data, more than 14 million ether (ETH) is now locked in liquid staking derivatives (LSD) protocols. Over the past 12 days, the amount of ETH deposited into these platforms nudged upward by 0.643%, bringing the total to 14.08 million ETH. Source https://t.me/Blockchain_Explained

💰 Bitcoin ETFs Pull in Nearly Half a Billion as Ethereum ETFs Join the Party On Friday, U.S. spot bitcoin exchange-traded funds (ETFs) continued their upward momentum, raking in a sizable $494.27 million in inflows. Spot ethereum ETFs followed suit, adding $58.65 million to their tally. Data from sosovalue.xyz shows that 12 U.S. spot bitcoin ETFs collectively brought in $494.27 million. ARKB led the pack, pulling in a net gain of $203.07 million. Hot on its heels was FBTC, securing $123.61 million, while IBIT claimed $110.82 million in the same trading session. Source https://t.me/Blockchain_Explained

🔵 Base’s total value locked crosses $2 billion for the first time amid sustained user activity Base, a Layer 2 Ethereum network incubated by Coinbase, has seen its total value locked cross the $2 billion mark for the first time, positioning it as the second-largest optimistic rollup by deposits after Arbitrum. According to DeFiLlama data, Base’s TVL stands at $2.08 billion, up from about $430 million at the start of the year, marking a 370% growth year-to-date Source https://t.me/Blockchain_Explained

🇺🇸 SEC chair Gensler reaffirms #Bitcoin’s commodity status, criticizes industry’s disregard of rules US Securities and Exchange Commission (SEC) Chair Gary Gensler reiterated that Bitcoin is not classified as a security, providing a critical clarification amid ongoing regulatory scrutiny of the cryptocurrency industry. Speaking in an interview on CNBC’s Squawk Box on Sept. 26, Gensler reinforced the SEC’s position that Bitcoin remains a commodity under US law. Source https://t.me/Blockchain_Explained

🇦🇪 UAE’s clear regulations have fostered a balanced, diversified crypto ecosystem – Chainalysis In most countries, the rate at which crypto activity grows across transaction size brackets varies significantly. However, the United Arab Emirates (UAE) is an outlier with growth across all brackets, which indicates a ‘balanced and comprehensive adoption landscape,’ according to a recent Chainalysis report. Source https://t.me/Blockchain_Explained

💰 BlackRock’s head of digital assets says #Bitcoin is risky, but still a ‘risk-off’ asset BlackRock head of digital assets Robbie Mitchnick believes the crypto industry has made a marketing blunder when it comes to Bitcoin (BTC). Mitchnick said during an interview with Bloomberg that Bitcoin is a risky asset, but calling it a “risk-on” asset is a mistake akin to an “own goal.”. Source https://t.me/Blockchain_Explained

🇺🇸 BNY Mellon moves closer to offering #crypto ETF custody services: Bloomberg America's oldest bank, BNY Mellon, is drawing closer to offering custodial services to exchange-traded fund clients, according to Bloomberg. The progress towards being in a position to offer the services comes "after a review enabled the company to avoid treating the assets as a balance-sheet liability," said the report. Source https://t.me/Blockchain_Explained

🪙 #Ethereum transaction fees surge even as active accounts fall to year-to-date lows At the beginning of September, the average transaction fee on Ethereum had fallen below $1 USD for the first time since July, 2020, long before Ethereum's proof-of-stake Merge, blob upgrades, or even the launch of the Bored Ape Yacht Club NFT collection. However, in the past few weeks the seven-day moving average transaction fee on Ethereum has spiked. Its latest value, on September 2021, was $3.52, more than triple its value of $0.85 on Sep. 1, according to data from The Block. Source https://t.me/Blockchain_Explained

💰 Blackrock’s Ishares Bitcoin Options Get the SEC Green Light The U.S. Securities and Exchange Commission (SEC) has granted approval for the listing and trading of options on the Ishares Bitcoin Trust (IBIT), a product by Blackrock. This decision introduces a new financial instrument aimed at providing investors with the ability to hedge and manage risk associated with bitcoin exposure. Source https://t.me/Blockchain_Explained