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Can the markets handle 11-figures worth of selling? In today's news:
Read on! | | 24h Hot Searches Worldwide 🔥 | | Is FDV a Meme? Low vs High Float Crypto | | Low float crypto account for 21.3% of the top 300 large cap crypto, while only 24.7% are fully diluted.
Notably, 14 out of the 74 fully diluted large cap crypto are memecoins, mostly launched this year or last year. | | | | Revolutionize your crypto trading with PaalX—your portal to a world of advanced trading tools. Seamlessly integrate your cryptocurrency holdings using WalletConnect, and dive into a rich trading experience on both desktop and Telegram. With PaalX, your next big trading move is just a click away! Start today by visiting PaalX and empower your trading decisions with cutting-edge technology and comprehensive analytics. Join the future of trading with PaalX. | | | Is Mount Gox ready to erupt? 🌋 The defunct crypto exchange Mt.Gox may be starting its preparations for returning funds to creditors later in October. Earlier today, Whale Alert, the blocking tracking account on X, detected several transfers from wallets controlled by Mt.Gox, ranging from 3,999 to 34,138 BTC.
These transfers were made of bulk transactions executed from Mt. Gox's cold wallets, mostly moving up to 2,000 BTC at a time.
These funds were moved to a single unknown address, currently holding close to 142K BTC, worth approximately $9.6B as of the time of writing.
However, with close to $10B worth of BTC that creditors could potentially introduce into the open market after a lengthy 10-year wait, traders are starting to worry about what might happen next.
Since the first transfer from Mt.Gox was discovered, the price of BTC has fallen slightly by 2.2% from $69,420 to $67,860 as of the time of writing. Editor's Note: It's important to note that BTC was trading at $150 at the time of Mt.Gox's collapse. At its current price, that would be a 450x increase for creditors over the course of a decade. While we can't say for sure whether most of them will choose to continue HODLing or not with that kind of return, the important thing to note is that these creditors were willing to wait because they want the coins. If not, they would have sold their claim to other longer-term investors, who prefer to hold BTC anyway. | | | Ever wondered how blockchain games work? Learn about how partial versus fully on-chain games work in this video! | | | Time for Taiko 🥁 Two years and seven testnets later, the Taiko mainnet is now live. The Ethereum Layer-2's first block was proposed by none other than Ethereum co-founder Vitalik Buterin, with the block itself containing the name of Taiko contributors in its metadata.
The network recently announced an airdrop of its native token, TKO, which will be launched in the coming weeks.
The airdrop will see 5% of its 1B token supply distributed to early users and developers, along with certain GitHub contributors and Loopring community members.
Additionally, Taiko will host a points incentive program known as Trailblazers, in which users will be rewarded for completing certain tasks on the network. | | | What is Fantasy.top? Learn about the fantasy trading card game on Blast and how it gamifies crypto influencers on X. | | | In Other News... Reportedly Selling User Claims. According to Hankyung, Binance purportedly sold Gopax user claims in Genesis at a significant discount without creditor approval. BTC ETFs Now Hold over 1M BTC, With Spot BTC ETFs in the U.S. Owning 855K BTC.
A Look Into Uniswap's Financials. The Uniswap Foundation recently disclosed its balance sheet, revealing $41.41 million in fiat and stablecoins alongside 730,000 UNI tokens, coinciding with an upcoming fee vote.
Traders Favor Trump Over Biden on Prediction Markets. Trump's pledges to commute the sentence of Silk Road founder Ross Ulbricht, a notable figure in the crypto community, and his commitment to bolstering the U.S.'s position in the digital assets industry may have influenced this sentiment.
What's Up with Chainlink? Chainlink saw a surge of over 10% in the last 24 hours, possibly fueled by traders' optimism surrounding its collaboration announcement with international payments platform Swift at this week's Consensys conference in Austin, Texas. Introducing Stax, Ledger's Latest Innovation. Stax, the world's first secure touchscreen device, is now shipping to pre-order customers. Experience enhanced clarity and confidence in managing your digital assets.
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