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Crypto News October

Bitcoin news:

• Blackrock: Blackrock Larry Fink says: “Flight into quality with Bitcoin”
• Mining: New Bitcoin mining facility in Paraguay runs on 100% renewable energy from the Itaipu Dam.
• Lightning Network: Lightning Labs Taptoor Assets goes live with Mainnet enabling Stablecoins on the Bitcoin Network.
• BitVM paper released: Smart contracts can be processed off-chain and settled on the Bitcoin Chain making BTC compete more with altcoins.
• Bitcoin ETF: There were false news of approval for the ETF which lead to a strong price increase and caused more buy pressure because people realized that the spot ETF is not priced in yet.
• Uptober: The October is known to be a good month for bitcoin and has resulted in a 25% increase to a $34k Bitcoin price.

Bitcoin statistics:

• Balance on Exchanges: The available Bitcoin supply on exchanges started in September with 2,319,080 Bitcoin and closed with 2,310,161 Bitcoin, resulting in an outflow of 8919 Bitcoin from all exchanges combined.
• Percentage BTC Supply in Profit: The amount of BTC since their last movement and the price back then in comparison to the current price can measure the percentage of how much of the supply would be considered in profit. This percentage started in October at 70.53% and increased to 81.64%, showing in comparison to September more strong upward movement .
• Mining Difficulty: The mining difficulty increased by roughly 6.9% in October, indicating more inflow of computational power to secure the network.
• MVRV-Z Score: This score estimated the fair value for Bitcoin while providing indications for a market bottom or market top. The month of October opened with a value of 0.56 and closed with 0.97 due to the strong price increase. A Value of 1 describes the fair value of bitcoin created by the ratio between difference of market cap and realized cap.

Other News:

• Kraken: Kraken announces to give customer data to the IRS.
• Verasity: Secures it’s Proof-of-View Patent in Europe.
• LCX: The Exchange integrates Bitcoin Lightning Network.
• World Economic Forum: Releases the “Evolution of Non-Fungible Tokens” Insight report to showcase different future use cases for NFTs.
• Circle: The issuer of USDC introduces crypto gas station to ease developer and company onboarding. Pay fiat and the gas station handles the rest.
• Stablecoins: Global Stablecoin holdings are 16th largest global holder of US treasuries.
• Ethereum ETF: More Ethereum spot ETF filings from InvescoUS and Galaxyhq.
• FTX and Alameda:
◦ 26. October They sold 253,862 LINK($2.67M) and 1.59M AGLD($1.34M) from their cold wallet reserve. FTX Cold Storage #2 transferred 469,587 SOL($15.2M) of which 250K SOL($8.1M) was transferred to exchanges. 170K SOL($5.5M) was transferred to Binance, and 80K SOL ($2.6M) was transferred to Coinbase.
◦ 27. October Deposit of 488k UNI($2M), 1 million LDO($1.98M), 1 million DYDX($2.5M) and 1.1 million SUSHI($703k) into Coinbase and Binance.
◦ 28. October An additional $19.4M was transferred including SOL, BAND, PERP, TRU, BICO, KNC, CVC and BONC.
◦ Total balance: Totaling $79.4M of transfered assets.

Upcoming Token unlocks:

• ImmutableX:
Unlocks 4.2% of it’s circulating supply with 51.29 million IMX adding up to $33.54 million.
• Aptos:
Unlocks 24,84 million APT which is 10,1% of it’s circulating token supply adding up to $159,22 million of unlocks.

My Watchlist news:

• Render Network: GPU onboarding is opening up soon, expecting 100k GPUs to be put to work for AI.
• Casper Network: NOWPayments integrates CSPR payments for eCommerce. Casper Network shifts its focus towards AI integrations to enhance the networks utility.
• Aleph Zero: Participates with Deutsche Telekoms MMS web3 for the European Blockchain Convention. Over 40 projects in the AZERO ecosystem which received support from the team and are now seeking VC funding. Kitsu adds liquid Staking to AZERO with sAZERO. Aleph Zeros ’Common’ DEX was announced with whitepaper release and is scheduled to be released with Liminal 1.0
• Hedera Hashgraph: Joins the FINOS Foundation which is part of the Linux foundation. FINOS is a foundation of more than 100 different names in the finance and technology space.
• Energy Web Energy Web developed with the Elia Group a Digital IdentityApp which got adopted by the OpenWallet Foundation which is part of the Linux Foundation. (OWF governing board includes companies like Visa, T-Systems, Google and Accenture)
• Bittensor: The Subnet limit got increased from 12 to 32. Additional subnets got announced to launch soon on the network:
◦ Text generation: The standard chatbot subnet like ChatGPT in a decentralized and uncensored, unbiased way.
◦ Scraping: A technique used to gather data from websites. This subnet could be used to collect and refine informations from the internet.
◦ Storage: A Subnet for data storage.
◦ Time-series-prediction: Can be fed a time series data structure like a price chart to gain AI insight and prediction of future price movement.
◦ Machine translation: Translation of text and possibly speech between different languages.
◦ Blockchain insight: Not much known yet but it is speculated that it will provide AI enhanced on-chain analysis.
◦ Audio generation: Still unknown what exactly will be it’s use-case but possibly generation of audio with text input(Songs, speeches, text-to-speech).
◦ Monkeynet: Yes a subnet for AI to learn the communication with monkeys.

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