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Stay up-to-date on the most trending topics in crypto with our professional and in-depth news.

Cardano Price Prediction: ADA is Bearish
Cardano Price Prediction: ADA is Bearish

Cryptoticker·2024/10/28 02:10
Bitget hires former Binance executive to drive growth in Latin America
Bitget hires former Binance executive to drive growth in Latin America

Quick Take The crypto exchange hired Min Lin, the former regional vice president for Latin America and head of business development at Binance, to drive growth.

The Block·2024/10/27 16:00
The Scoop: Spot ETF flows indicate 'Uptober' after all
The Scoop: Spot ETF flows indicate 'Uptober' after all

Quick Take From my perspective, October also underscored an evolving trend — Wall Street is absorbing crypto’s culture and first principles. This column is adapted from The Scoop newsletter.

The Block·2024/10/27 16:00
Flash
  • 12:46
    Telegram requires third-party encrypted wallets to use TON Connect
    According to Cointelegraph, Telegram now requires third-party crypto wallets to use TON Connect and restricts mini-programs on the TON blockchain, raising concerns about decentralization and exclusivity in the crypto community. It is reported that the new requirement is part of Telegram's collaboration with the TON Foundation, making TON the only supported blockchain network for its communication services. A spokesperson for the TON Foundation said: "Wallets within Telegram are not affected because these wallets are based on TON and only support decentralized application interaction through TON Connect. However, third-party wallets that do not adopt TON Connect will no longer be supported in the future."
  • 12:34
    The Bank of England cuts interest rates by 25 basis points
    The Bank of England has cut interest rates by 25 basis points, reducing the benchmark rate from 4.75% to 4.5%, in line with market expectations. This is the third rate cut in this cycle. Following the announcement, GBP/USD fell short-term by 60 points and is now reported at 1.2365. The Bank of England stated that this decision was passed with a vote of 7-2 (the last meeting was voted on as 6-3).
  • 12:33
    Encrypted KOL: Solayer is currently or may be a value depression in the encryption market
    The encrypted KOL Ice Frog (@Ice_Frog666666) posted on social media that the market regards Solayer as "Solana re-staking", but it is actually a "high-throughput infrastructure". At present, most people only see that Solayer is the re-staking protocol of the Solana ecosystem, but they ignore the long-term strategy of Solayer Chain. The Solayer Chain will achieve hardware acceleration, dynamic sharding and hybrid consensus. Once the market realizes its true potential, its valuation may undergo significant changes. Solayer is not EigenLayer 2.0, but a combination of Arbitrum, EigenLayer and Berachain in the Solana ecosystem. Institutional and market attention: Top investment institutions such as Polychain, Solana CEO Anatoly and Polygon co-founder Sandeep have already invested in Solayer, but market sentiment remains low. Although understated yet powerful, institutions have placed their bets on it while markets are still lagging behind.Valuation difference: The valuation of Solayer is much lower than similar projects. EigenLayer FDV $6 billion USD; Berachain estimated at $5 billion USD; whereas off-market price for Solyer currently stands at $700 million USD Market Cap. If Solyer were merely a re-staking protocol then its TVL could reach over 1 billion in future with independent public chain value for Solyer Chain which has been overlooked by markets who haven't realized that Solyer might be next Eigenlayer or even stronger.Future growth logic: The ultimate trump card lies within Solyer Chain which when launched in 2025 means it won't be limited to just being part of solana rather become an independent high throughput public chain. Currently,Solayer might be undervalued gem within crypto markets with TVL far below similar projects where real value hasn't been reassessed by markets yet.Institutions have already placed their bets but market sentiment hasn't caught up yet. Solayer Chain is not "Solana's re-staking tool", but a "blockchain throughput revolution". It may become the expansion king of the Solana ecosystem in the future, or even become an independent Layer1, attracting institutions and high-frequency traders. It's not that EigenLayer and Berachain are unaffordable, it's just that Solayer offers better value for money.
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