ivish and Being Invested
GM Chads,
Bitcoin gave us all a bit of a shock yesterday. After climbing close to an all-time high of $73.7K, it suddenly dropped back down to $69K, reminding us all of crypto’s unpredictability.
In today’s updates, we’re covering everything from high-earning memecoin traders to new projects in the works. Highlights include Bitcoin’s first on-chain AI agent, big fundraising wins for startups, and some fresh moves in the stablecoin space. Plus, Tether’s eye-catching profits and Spacecoin XYZ’s ambitious satellite plans are all making waves.
The market fell due to muted growth forecasts for Microsoft’s cloud services and Meta’s significant spending on AI and the metaverse, despite both companies reporting earnings above expectations.
Market Overview
• Global Market Cap: $2.35T ▼ 3.07% (24h)
• 24-Hour Market Volume: $95.94B ▲ 15.24%
• Bitcoin Dominance: 59.0% ▼ 0.02%
• Fear & Greed Index: 59
Mt. Gox Stirs: 500 $BTC on the Move
The legendary Mt. Gox, which once handled 70% of all Bitcoin transactions, just moved 500 BTC ($35M) to new wallets, raising speculation across crypto circles. With 44.9K BTC ($3.1B) still under its control, this move leaves everyone wondering: is repayment finally underway, or could something else be happening?
• Repayment Delayed Again: Mt. Gox trustees have pushed the repayment deadline to October 2025.
The People's Bank of China is doing two things: getting out of US bonds and buying more gold.
This shows China's clear strategy to reduce its exposure to the US Dollar over time. But so far, China still isn't getting into $BTC.
In October 2024 in the crypto space happened >20 hacks, resulting in losses of ~$88.47 million.
Let’s dive in and see what’s shaping the market today.
<Smart Traders>
- 4 smart traders, each of whom earned >$1 million trading thousands of memcoins:
- DfMx...Xhzj traded 8002 memcoins, earning $1.95 million with a profit percentage of 69.2%;
- CWvd...C8ou traded 1246 memcoins, earning $1.94 million with a profit percentage of 56.9%;
- ve94...V4kk traded 3919 memcoins, earning $1.82 million with a profit percentage of 55.81%;
- 5mtb...7u7e traded 7251 memcoins, earning $1.51 million with a profit percentage of 46.93%.
<Fundraising>
- Citrea completed $14 million in Series A funding Fund.
- Ellipsis Labs raised $20 million from Haun Ventures.
<Project Updates>
- Eternal AI Set to Launch the First On-Chain AI Agent on Bitcoin
- Alliance: ALL13 Demo Day Overview
11 amazing startups graduated to Demo Day from Alliance’s ALL13 cohort👇
- AI Agent Platform with Potential Airdrop Opportunities
- Onchain AI Agents Building on Base
- Crypto Calendar for November 2024
<News & Good Reads>
- CZ: Giggle Academy launched in closed beta.
- Can Quantum Computers Really Crack Bitcoin Security?
- Trump Cheers Bitcoiners on White Paper Anniversary, Vows to End “Crypto War”
- $BTC Price Prediction From Public Figures
- $7.7B profit YTD—Tether’s earnings are through the roof this year.
- Pudgy Penguins will release a mobile game "Pudgy Party" next year.
- Spacecoin XYZ | presented a plan to launch DePIN in space using a fleet of nanosatellites.
- $BTC is up +10.9% in Uptober and is the best performing asset.
- Canary Capital Has Filed for a Spot Solana ETF
- 0xNairolf: Nillion Explained in Simple Terms
- Tiger Research: Chainalysis 2024 Crypto Adoption Index for Southeast Asia and India
- Stablecoins: 2024 Market Trends
That’s it for today.
Thanks for catching up with us. Stay tuned, stay informed, and we’ll see you in the next edition.
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