Alpha un # Weekly Roundup

15th Oct to 21st Oct 2024

October 23, 2024 • Estimated Reading Time: 6 minutes

Market Commentary:

Bitcoin continues its volatile journey, flirting with the $70,000 mark before retracting to $68,270. This movement is largely fueled by a combination of institutional inflows, reaching over $2.2 billion in Bitcoin ETFs, and positive polling for Trump in the upcoming U.S. elections. Rising U.S. bond yields and Fed policy uncertainty present headwinds, but market sentiment remains bullish, with analysts citing Bitcoin’s long-term potential.

Ethereum's dominance is being tested with the rising popularity of Layer 2 solutions. VanEck’s research warns that Ethereum could lose trillions in market capitalization as more projects move to Layer 2 networks. Solana, in contrast, saw positive momentum with VanEck’s Solana ETN offering staking rewards, further expanding its DeFi presence.

DeFi Developments:

Solana remains a key player in DeFi innovation with new projects like Pump.fun launching another token and airdrop event. Meanwhile, ApeCoin's new Ethereum Layer 2 solution, ApeChain, caused a price spike of over 100%, highlighting the growing influence of meme-based crypto projects in the DeFi space.

Meanwhile, stablecoins continue to draw institutional attention. Stripe made headlines with its $1.1 billion acquisition of Bridge, a stablecoin platform, marking one of the largest deals in the sector. This reflects the ongoing interest in integrating blockchain-based payment systems into traditional finance.

Regulatory Shifts:

The regulatory landscape continues to heat up, particularly with heightened scrutiny on centralized exchanges. Japan introduced new guidelines aimed at protecting consumers and improving compliance, while in the U.S., SEC actions against Solana as an unregistered security are making waves. Michael Saylor defended MicroStrategy’s aggressive Bitcoin strategy amidst continued market scrutiny.


sources: (Ethereum 2.0 Upgrade Live, DeFi Protocol XYZ Yield Farming Initiative,  U.S. SEC New Guidelines, Layer 2 Solutions Adoption, aarna.ai Twitter Spaces Event, DeFi Market Cap and Altcoin Performance)

This week saw Bitcoin ETF inflows, Stripe’s stablecoin acquisition, Chainlink’s private blockchain launch, and ApeCoin’s price surge

learning node:

alpha un# blogs:

disclaimer: 

this newsletter is for informational purposes only and should not be considered financial or investment advice. The information provided does not constitute a recommendation to buy, sell, or hold any digital asset or engage in any specific DeFi strategy. always conduct your own research and consult with a qualified financial advisor before making any investment decisions. know more