Ethereum News Today TheBitTimes.com

The team migrated the POL token contract to the Ethereum network, paving the way for it to replace MATIC in the future. Polygon Labs has launched the Ethereum contract for the new Polygon token, POL, according to an October 25 announcement. The new token is intended to replace the ecosystem’s current token, MATIC. However, the team said users presently don't need to exchange their MATIC for POL. The POL token upgrade is now live on Ethereum mainnet. Polygon 2.0, released this summer, is a roadmap for scaling Ethereum to build the Value Layer of the Internet. POL unlocks that future. POL is a next-generation token that can power a vast ecosystem of ZK-based L2 chains.… pic.twitter.com/gmrsu0ZqLz — Polygon (Labs) (@0xPolygonLabs) October 25, 2023 According to blockchain data, the new token was created on October 25 at 09:06 a.m. UTC. Its full name is the “Polygon Ecosystem Token.” In the announcement, the Polygon team claimed that POL would “power a vast ecosystem of zero know...

Several media outlets have circulated a presentation detailing Telegram Group Inc.’s preparation for an initial public offering (IPO). A presentation about preparing an initial public offering (IPO) by Telegram Group Inc. has been distributed online by several media outlets. The presentation is allegedly distributed among clients by the Russian company BKS Broker. @telegram is reportedly planning to go public with an IPO in the 2nd to 3rd quarter of 2025, according to info shared by the investment firm #BCS. Key details from the document include the fact that @durov maintains 100% control over #Telegram. Morehttps://t.co/nIL16muqKx pic.twitter.com/Iuwo5VReA3 — TonBase (@TonBase_Global) October 25, 2023 The note said the presentation is based on publicly available data and analytics. According to the published document, the IPO will be held at a discount of: 10% if the offer takes place before March 2024 15% – until March 2025 20% – until March 2...

Two exciting terms have surfaced in the world of technology: VR and the Metaverse. You’ve probably heard about them, but what exactly are they, and how do they differ? Virtual Reality immerses you in digital experiences, letting you play games, learn, or travel to far-off places without leaving your room. On the other hand, the Metaverse is like a vast online universe where people can connect, work, learn, and have fun together. But why does it matter to know the difference between them? Understanding these concepts helps us see the big picture of our digital future. This article breaks down VR and the Metaverse, explains what sets them apart, and explores where they’re headed. So, let’s dive in and make sense of the virtual world around us. Defining Virtual Reality (VR) Virtual Reality, often abbreviated as VR , is a technology that creates computer-generated environments or simulations that immerse users in a three-dimensional, interactive virtual world. It does...

An Arbitrum-based Friend.tech clone has decided to slam the brakes ahead of its promised airdrop due to unsustainable operational costs, leaving users befuddled while noting the team’s healthy multisig wallet.  Pseudonymous Cipher Fan creator, Zatis, announced the projects shut down on Oct. 24 just hours before its CIPHER token airdrop was set to launch as a reward to active users. The would-be socialfi contender debuted roughly two weeks earlier. Zatis said the Cipher Fan’s business model is non-profitable and the app is rife with bot activity rather than real users.  Notably, the project’s social media accounts have been silent since Oct. 19.  Cipher Fan creator Zatis announces shutdown | Source: ZachXBT Adam Cochran, a crypto commentator and avid Cipher Fan supporter disclosed personal losses incurred from his interaction with the project. Cochran echoed Zatis’ cost remarks but expressed confusion since the team recently inked an investment agreement. So this morning ...

Marinade Finance is currently the largest DeFi protocol on Solana. Marinade Finance has blocked UK users due to concerns over FCA regulations. The FCA’s Financial Promotions Regime has prompted several cryptocurrency entities, including Marinade Finance, to exit the UK market. In a recent development, Marinade Finance, a leading decentralized finance (DeFi) protocol operating on the Solana blockchain, has halted its services for users in the United Kingdom. The decision comes in response to growing compliance concerns arising from the regulatory framework established by the UK Financial Conduct Authority (FCA). Compliance issues prompt UK market exit Users from the UK were greeted with a block page on October 23 when attempting to access Marinade Finance’s website from a local IP. The message displayed on the page cited “ compliance concerns relating to rules and regulations promulgated by the UK Finance Conduct Authority,” thus ...

In response to Commissioner Hester Peirce’s expression of confusion about the rationale behind the SEC’s failure to greenlight a Bitcoin ETF, John E Deaton, a lawyer at Crypto-Law US, shares what this means for the public. One of the outcomes is the possibility that approval would occur before the end of the year, or at the latest, by the close of the first quarter of 2024. An important factor In her response, Commissioner Hester Peirce expressed uncertainty regarding the SEC’s timeline for approving a spot BTC fund. Peirce, a staunch advocate for the spot Bitcoin ETF approval , highlighted that while the ongoing court case remains a significant influencing factor, she finds it perplexing to predict her colleagues’ perspective on the matter.  One of two things: 1) the @SECGov has capitulated on the spot #BTC ETF and approval , before the end of the year, or certainly, before the end of the 1st Quarter of 2024, is a certainty; or 2) the SEC is gatherin...

According to Thailand’s Deputy Minister of Finance Julapun Amornvivat, the giveaway will not be launched on Feb. 1, as planned. Thailand will not launch the long-awaited “airdrop” on time as the government needs more time to develop “a safe system,” local news media Vietnam+ reports, citing Thailand’s Deputy Minister of Finance Julapun Amornvivat. Although the exact reason for the delay remains unclear, Amornvivat noted that the system will be launched within Q1 2024. Yet, there is still little known about the upcoming giveaway , as even Amornvivat reportedly admitted that the government still has to find a way to fund the initiative. As per local news outlets, Thailand’s newly appointed government, controlled by the Pheu Thai party, initially planned to cover the expenses with the annual national budget. You might also like: Thailand introduces tax on overseas crypto earnings from 2024 According to the Bangkok Post, ex-Bangkok senator...

The crypto landscape is undergoing continuous transformation. Notably, Bitcoin [BTC], the world’s first crypto currency, has maintained its position as the largest asset in the field. Nevertheless, its purpose has evolved over time. Initially introduced as a peer-to-peer payment system, BTC has transitioned into being primarily viewed as a store of value asset, given its substantial increase in value, rather than as a method for everyday payments. More recently, when asked about crypto adoption in general, EY ’s global blockchain leader, Paul Brody said, “If you look at people who are buying Bitcoin, th EY are buying it as an asset. Th EY are not buying it as a payment tool. Those who are buying Ethereum, are buying it as a computing platform for business transactions and DeFi services.” Brody’s perspective suggests that the world’s preference for fiat currency in payment transactions remains strong. Nevertheless, he acknowledges that st...

SkyBridge Capital founder Anthony Scaramucci believes that if Balckrock receives approval to launch a spot Bitcoin ETF, it could cause Bitcoin’s value to multiply as much as 11 times. The politically connected entrepreneur — who is also the founder and chairman of SALT, a global conference series that covers finance, economics, and geopolitics — argues that a BlackRock greenlight could cause a massive $100 billion in institutional investments. This would turn Bitcoin (BTC) into a $600 trillion asset. Speaking on the YouTube channel “Altcoin Daily” hosted by the Arnold brothers, he mentions how this imminent approval can spike the price of Bitcoin. “Think of the magnitude of that, if there’s $100 billion that flows in bitcoin … that could have an 11-times factor in terms of valuation . So you could see bitcoin go from a $600 billion asset to a $600 trillion asset.” Anthony Scaramucci, founder, SkyBridge Capital Extrapolating the current price of Bitcoin, Scaramucci added that...

In the realm of content creation, three pivotal elements demand attention: “perplexity,” “burstiness,” and “predictability.” Let’s break them down. Perplexity gauges the intricacy of the text, the level of depth and complexity. Burstiness, on the other hand, examines the ebb and flow within the sentences—varying from extended and intricate to brief and succinct. Lastly, predictability assesses how easily the next sentence can be foreseen. Human-authored text tends to exhibit a captivating burstiness, characterized by a delightful interplay of lengthy, intricate sentences interspersed with concise ones. In stark contrast, AI-generated text often leans towards uniformity, maintaining a consistent rhythm. For the content you’re about to embark upon, my request is quite explicit. I need it to be rich in perplexity and burstiness while keeping predictability to a bare minimum. Furthermore, we must adhere strictly to the English language. So, ...

MATIC sees a 6.58% price surge with a 33.8% increase in trading activity in 24 hours. Polygon introduced the PIP-29 to create a Protocol Council for decentralized governance. The council will potentially comprise Polygon co-founder, rug-pull detector ZachXBT, and others with impressive resumes. MATIC, the soon-to-be-rebranded native token of the Polygon blockchain, has garnered increased trading activity from crypto market participants over the past 24 hours. According to data from CoinMarketCap, MATIC’s 24-hour chart appears usually bullish with a stronger upward trajectory in sight. Specifically, crypto traders bought and sold 33.8% more MATIC tokens within the last 24 hours than the previous day. Its price is now $0.5416, up 6.58%, at the reported time. Polygon (MATIC) 24-hour chart  (Source: CoinMarketCap) Notably, the uptick in MATIC value followed a significant development from the Polygon development team. In particular, the development crew...

Oct 20, 2023 at 08:30 // Price Author Coin Idol Binance coin (BNB) price has retreated below the moving average lines after being rejected from the previous high. Binance coin price Analysis by Coinidol.com. BNB Price Long Term Forecast: Bearish The decline has stalled after BNB hit a low of $208. The altcoin is trading at $210.50 at the time of writing. The rejections have been occurring since the price dropped on August 17. After each rejection, a candle with a long wick appears pointing up. This indicates that BNB is under heavy selling pressure at hi...

While the halving event is considered one of the main catalysts for Bitcoin bull markets, it may play out differently next year. The impact of the Bitcoin halving on crypto prices is often overestimated and the next halving , set for April 2024, may play out differently than previous ones, according to a leading analyst. The halving event, which every four years, cuts in half the rate by which new Bitcoins are created, and is generally considered one of the main catalysts driving Bitcoin’s biggest upside moves. Despite the bullish narrative surrounding the halving , however, the event by itself does not guarantee the appreciation of Bitcoin. If the reduced supply of new Bitcoin is not accompanied by significant demand, prices are unlikely to surge. Also, the halving is an entirely predictable event: that means all market participants know in advance when it will occur and therefore its current price may already be reflective of the halving 's impact before it happens. “Things...

The Governing Council of the European Central Bank (ECB) has recently announced it was moving onto the next phase of the digital euro project, starting to lay the foundations for its possible issuance next month, although it has not yet made a definite decision on issuing it. Specifically, the preparation phase for this central bank digital currency (CBDC) follows the conclusion of a two-year research of its design and distribution and aims to “lay foundations for a potential digital euro,” the ECB said in a press release published on October 18. “This decision follows the completion of the investigation phase launched by the Eurosystem in October 2021 to explore possible design and distribution models for a digital euro.” What next phase entails According to the statement, moving to the next phase envisions “finalizing rulebook and selecting providers to develop platform and infrastructure” for the currency on the basis of the findings detailed in a summary report for the pr...

The Ad Hoc Committee of Non-US Customers of FTX.com announces the successful execution of a Settlement and Plan Support Agreement (PSA) filed with the U.S. Bankruptcy Court in Delaware.  This PSA, achieved after extensive negotiations with various parties, establishes a framework for a consensus-based reorganization plan. Positive results Earlier in March, the Ad Hoc Committee had begun litigation that asserted that property held on or misappropriated from the FTX.com exchange belongs to FTX.com customer s and not the FTX Debtors. Although the Ad Hoc Committee believed in the litigation, they also stated that the judgment could take months or years and cost millions in professional fees. Therefore, to avoid the result, the Committee has agreed to resolve the litigation with a plan framework that would provide FTX.com customer s with a priority distribution that could result in 90 percent of distributable value of the FTX debtors. In the Oct. 18 announcement, the PSA is said to hav...

Crypto influencer Ben Armstrong said he is excited about the underlying development in BEN Coin. BEN has gained over 165% of its original value in the past seven days. Armstrong asked crypto users to follow him and become a part of the BEN nation. Crypto influencer Ben Armstrong posted on X (formerly Twitter) about token BEN, and the crypto community considers it a bullish statement from the renowned crypto personality. According to Armstrong, he had some “great conversations” about BEN Coin and was excited about the underlying developments within the project. Had some great conversations around $BEN Coin yesterday. Price has been ripping, but the behind the scenes stuff is what really has me excited. — Ben Armstrong (@BenArmstrongsX) October 18, 2023 Armstrong did not provide further details about the conversation at the time of writing. However, he noted that BEN continued to surge in price. Information from CoinMarketCap, the leading crypto ...

According to crypto Analysis firm Santiment, Billionaire Ethereum (ETH) addresses that have at least 1 million ETH, now hold 32.3% of the available supply. Santiment also notes that this is the first time since 2016 that ETH billionaires control this many tokens. Moreover, the firm highlights that transactions for over $1 million “had its 2nd highest day in 5 weeks.” 🐋 #Ethereum's whale addresses in the #billionaire tier (holding at least 1M $ETH) now hold 32.3% of the available supply for the first time since 2016. Yesterday's transactions valued at $1M+ also had its 2nd highest day in 5 weeks. History is being made. https://t.co/sywdtn14k5 pic.twitter.com/SdbSrChJCf — Santiment (@santimentfeed) October 17, 2023 Also Read: Ethereum: Standard Chartered Predicts ETH May Hit $35,000 According to IntoTheBlock, ETH concentration has grown by 0.15%. As of now, 45% of Ethereum (ETH) holders are large wallets. It is unclear if the large transactions had ...

Binance US has modified its terms of US e, eliminating dollar withdrawals and changing the language surrounding Federal Deposit Insurance Corporation (FDIC) insurance.  Currently, the link on Binance US ’s Terms of Use page to ‘Download Previo US Version’ returns an ‘Access Denied’ error, but accessing the terms of service through archive sites is still possible.  The new terms no longer make the claim that users who hold fiat at Binance US are eligible for passthrough insurance from the FDIC, and users on X (formerly Twitter) have shared screenshots of an email supposedly from Binance US that details how this change was made “in accordance with guidance received from the Federal Deposit Insurance Corporation.” This is the email Binance sent to c US tomers informing them that their US D has been rugged from real US D into BNB/B US D pic.twitter.com/5EAhyic9GP — Asher Hopp (@AsherHopp) October 17, 2023 Read more: Binance...