Crypto Giants Outshine Gold, China Considers ETF
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Crypto Giants Outshine Gold, China Considers ETF
Simpsons Satire NFTs, ARB Stakes High, Ripple Rides Adoption Wave
Welcome to Coinfeeds Daily Digest! Today's highlights include Bitcoin and Ethereum outshining gold as the market rides a wave of positive sentiment. Find out how the Arbitrum DAO's staking proposal is fueling ARB's price hike and how The Simpsons are taking a jab at the NFT craze. China's potential crypto ETF stirs excitement, XRP sees a value surge with institutional adoption, and Telegram Wallet's new custodial solution aims to streamline crypto transactions. We'll also touch on the prevention of a $2 billion loss in the zkSync Era protocol and the record-breaking number of Bitcoin addresses.
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Bitcoin and Ethereum Outperform Gold, Positive Market Sentiment Boosts Cryptocurrency
The world of cryptocurrencies, particularly Bitcoin and Ethereum, has been witnessing a significant surge in recent times, outperforming traditional assets like gold, equities, and bonds. This shift in wealth storage and investment strategy is largely attributed to the potential of digital assets and the positive developments around Bitcoin ETFs awaiting SEC approval. | Read More
Arbitrum DAO Approves Token Staking Proposal, ARB Price Surges
The Arbitrum DAO has given the green light to a proposal to activate token staking. This decision allows ARB token holders to stake their tokens in return for a yield. The yield will be funded by the Arbitrum treasury and distributed over a 12-month period through a smart contract. | Read More
The Simpsons Satirize NFT Craze in Latest Episode
The popular animated series, The Simpsons, has once again brought the world of cryptocurrencies and non-fungible tokens (NFTs) to the small screen. In its recent Halloween special episode, titled "Wild Barts Can't Be Token", the show humorously critiqued the overvaluation of NFTs and the hype surrounding them. | Read More
China Considers Launching Spot Crypto ETF, Stirring Excitement
In a recent development, China is reportedly considering the launch of a spot cryptocurrency exchange-traded fund (ETF). This move has stirred excitement within the cryptocurrency community and could potentially have significant implications in the ongoing economic competition between the US and China. | Read More
XRP Value Surges by 10% as Ripple Gains Traction with Institutions
The digital currency XRP, managed by the technology company Ripple, has seen a significant increase in value, spiking by 10%. This surge in value is believed to be driven by several factors, including the adoption of Ripple's services by a number of institutions. | Read More
The Rise of GROK Tokens
The emergence of GROK tokens on various blockchains has been a hot topic in the cryptocurrency world recently. These tokens, inspired by Elon Musk's AI chatbot service, Grok, have gained a cult following due to their uncensored and humorous nature. However, the trend of creating tokens based on trendy topics is not new and comes with its own set of risks. | Read More
Vulnerability in zkSync Era Protocol Could Have Resulted in $2 Billion Loss
In a recent turn of events, a significant vulnerability was discovered in the zkSync Era protocol by blockchain security firm, ChainLight. This vulnerability could have potentially led to a loss of nearly $2 billion. However, thanks to the quick response from the Matter Labs team, the issue was promptly resolved, averting a potential disaster. | Read More
Telegram Wallet Adopts Custodial Solution to Simplify Onboarding Process
Telegram Wallet, a significant bot on the Telegram platform for buying and selling cryptocurrencies, has chosen to adopt a custodial solution over self-custody to simplify the onboarding process for new users. The full rollout of the wallet is slated to commence in November 2023, with initial launches in several African and Latin American countries. | Read More
Bitcoin Addresses Holding $1,000 Worth of BTC Reach Record High of 8 Million
The number of Bitcoin addresses holding at least $1,000 worth of BTC has reached a record high of 8 million, indicating a bullish development for the cryptocurrency. This surge in Bitcoin addresses is seen as a reflection of a growing amount of purchasing power in the Bitcoin market. | Read More
FTX Seeks Approval to Sell $744 Million in Trust Assets
FTX is seeking approval from the U.S. bankruptcy court to sell off trust assets worth $744 million. These assets include funds from Grayscale and Bitwise. The move is part of FTX's efforts to prepare for upcoming distributions to creditors. This comes after the company's founder, Sam Bankman-Fried, was found guilty of defrauding customers and lenders. | Read More