🦎🚀 The legacy of Nakamoto lives on... 🔧

Wednesday, October 30, 2024

Don't miss out on the juiciest news in the crypto space! Stay in the loop to ensure that you receive our latest newsletters, right in your inbox!

Do you think it's time for a new all-time high, Geckos?

As we get closer to breaking the $73K barrier, new developments arise within crypto and AI!

In today's news:

Delivered as promised 🏁
Solayer to Stable-layer 💰

Read on!

24h Hot Searches Worldwide 🔥

Grass (-2.6%)
Sui (+8.9%)
Moo Deng (+7.2%)
Solana (-1.5%)
Goatseus Maximus (-4.4%)
Kaspa (-7.7%)
Dogecoin (+4.1%)

How Do CPI Announcements Affect Bitcoin Price?

Exploring Bitcoin's role as a hedge against inflation. How does it react to Consumer Price Index (CPI) announcements? Read more to find out.

Delivered as promised 🏁

The Bitcoin-based Layer-2, Stacks, has announced the completion of its long-awaited Nakamoto upgrade.

With the upgrade, the team claimed that transactions on Stacks are now much faster and are 'as irreversible as Bitcoin's,'

The Nakomoto upgrade will also serve as the required infrastructure for the development of sBTC towards the end of 2024.

However, the implementation of Nakamoto has several interesting implications that will undoubtedly affect the future of the Stacks ecosystem.

For example, the network will no longer be able to execute a hard fork independently.

In the near term, the Stacks team will be working on several latency and throughput updates, which will continue to improve block times on the network.

Since the announcement, the price of the native Stacks token, STX, has increased by 9.5% from $1.69 to $1.85 today.

Editor's Note:
The completion of the Nakamoto upgrade brings a much-needed solution to the long transaction times that have turned away users who have become accustomed to faster networks such as Solana. With the upcoming introduction of sBTC and better market conditions, we may very well see a resurgence of BTCFi and the overall Bitcoin ecosystem soon.

From market movements, politics, sports and more, learn about prediction markets which allow you to bet on these real-world events!

Watch now

Solayer to Stable-layer 💰

In partnership with Open Eden, the Solana restaking project Solayer is launching its own yield-bearing stablecoin, sUSD.

sUSD will be backed by US Treasury Bills and will allow users with low capital to access RWA yields.

The sUSD contract functions as an RFQ marketplace, where users' USDC deposits are matched to various RWA products, and they receive sUSD in exchange.

Minting of sUSD will go live today with a $20M hard cap.

What is DuckChain? Learn about the first TON Layer 2 that connects TON with Ethereum and Bitcoin's ecosystems and find out how to participate in the upcoming airdrop, with the snapshot taking place on November 18 2024.

Learn more

In Other News...

DWF Labs Under Fire. A partner at crypto trading firm DWF labs has just been fired following allegations of spiking a woman's drink at a Hong Kong bar. He had been allegedly spotted spiking the drink through the bar's CCTV footage.
Layoffs at dYdX. The decentralized derivatives platform has laid off 35% of its employees. Separately, Ethereum development firm Consensys also announced a 20% reduction in staff. This news suggests that crypto platforms may currently be facing financial difficulties.
Swell to Join Optimism's Superchain Ecosystem. Liquid restaking protocol Swell said that it would transition its planned layer 2 chain to using the OP Stack, replacing its earlier plan to use the Polygon CDK.
Visa Direct Now Supported on Coinbase. Coinbase users can now deposit funds into their Coinbase accounts in real-time as well as purchase crypto directly with their Visa debit cards.
Bolivian Bank Banco Bisa To Support Stablecoin Transfers. Banco Bisa is the first financial institution in Bolivia to launch crypto custodial services. Users can now store, sell and send USDT directly through their bank accounts.

🦎Tell us what you think!

We've just revamped our newsletter with a new and fresh format!

Whether you're a long-time subscriber or just passing by, do let us know if you like the changes and what we can improve on!

Let us know

Download our app

Get real-time updates on crypto prices wherever you go.