Son Min

A claim has emerged that Ethereum (ETH)'s scalability problems persist. On the 10th (local time), Charles Hoskinson, founder of Cardano (ADA), said in an exclusive interview with CoinDesk, "Ethereum has failed to realize the initial goals of its co-founders," and "it still faces scalability and high transaction fee issues." He added, "A Layer-2 blockchain was introduced to address this, but it is only a temporary measure," and warned that "the ecosystem's sustainability could decrease." Previously, Hoskinson had predicted that the Ethereum network would not last beyond 10 to 15 years.

U.S. asset manager BlackRock is reportedly planning to launch a Bitcoin (BTC) exchange-traded product (ETP) in the UK. On the 10th (local time), UK financial news outlet Citywire reported that BlackRock is preparing to launch an 'iShares Bitcoin ETP' aiming to list on the London Stock Exchange (LSE) in October. This move follows the recent announcement by the UK Financial Conduct Authority (FCA) that it will allow investment in crypto asset exchange-traded notes (ETNs). The FCA previously said it would permit retail investors in the UK to buy crypto asset ETNs from October 8 (local time).

UK-listed Smarter Web Company (SWC) has reportedly purchased an additional 30 Bitcoins (BTC). On the 10th (local time), Smarter Web Company said on its official X (formerly Twitter), "We purchased 30 BTC as part of our '10-year plan' to continuously acquire Bitcoin," and "The average purchase price per 1 BTC is 112,846 dollars." With this, Smarter Web Company's total Bitcoin holdings reached 2,470 coins. The average purchase price is 111,516 dollars. Earlier, Smarter Web Company said, "We believe Bitcoin will become a core part of the global financial system," and "We will proactively implement a Bitcoin financial strategy."

Analysis suggested that traders of Ethereum (ETH) perpetual futures may unwind leveraged long positions. On the 10th (local time), Matrixport said in a report, "This week Ethereum spot trading volume fell sharply from $122 billion to $41 billion," while "Ethereum futures open interest (OI) remains at a high level." It added, "As spot trading volume declines, some traders may unwind Ethereum leveraged long positions." It also said the value of Ethereum reserve firms is declining. Matrixport elaborated, "The net asset value (NAV) of Ethereum reserve firms is close to 1," noting, "This means investors are not paying a premium for those shares."

Over the past 24 hours, the scale of position liquidations in the virtual assets (cryptocurrencies) perpetual futures market amounted to $271.63 million. On the 10th (local time), according to CoinGlass data, a total of $271.63 million worth of futures positions were liquidated in the virtual assets market over the past 24 hours. Specifically, long positions totaling $164.37 million were liquidated, and short positions totaling $107.26 million were liquidated. The asset with the largest liquidation amount was Bitcoin (BTC). Bitcoin saw $40.18 million in position liquidations over 24 hours, of which long and short positions accounted for $33.05 million and $7.13 million, respectively. Second place was taken by Ethereum (ETH). Ethereum saw $36.3 million in liquidations over the same period, of which long positions were $27.63 million and short positions were $8.66 million.

The U.S. Securities and Exchange Commission (SEC) has reportedly postponed the review deadline for the Bitwise Dogecoin exchange-traded fund (ETF) and the Grayscale Hedera (HBAR) ETF. On the 10th (local time), according to Cointelegraph, the SEC has extended the deadline for the Bitwise Dogecoin ETF and the Grayscale Hedera ETF to November 12 (local time). The outlet said, "Applications for altcoin ETFs have surged this year, and the SEC is struggling with processing," adding, "At least 92 altcoin-related ETF products are waiting for SEC approval." Meanwhile, Rex Shares' Dogecoin ETF is scheduled to launch on the 11th (local time). Rex Shares reportedly was able to launch more quickly than other firms' ETFs by utilizing the Investment Company Act of 1940 (40 Act).

The Chicago Board Options Exchange (CBOE) is set to support trading of continuous futures (Continuous Futures) for Bitcoin (BTC) and Ethereum (ETH). On the 9th (local time), Walter Bloomberg wrote on X (formerly Twitter), "CBOE plans to launch continuous futures for Bitcoin and Ethereum on November 10 (local time)." Continuous futures are products that automatically roll over to the next contract upon expiration, allowing long-term holding, and they are structurally different from perpetual futures (Perpetual Futures) on cryptocurrency exchanges.

A Chinese Bitcoin (BTC) mining rig manufacturer may pose a threat to U.S. national security, it was claimed. On the 9th (local time), Bloomberg reported that U.S. Republican Representative Zach Nunn said, "Chinese mining rig manufacturers Bitmain and Kango are expanding their businesses in the U.S. through opaque ownership structures and financing methods," and "these companies could pose a potential threat to national security." He added, "We should not allow the Chinese government to access key assets that move our economy," emphasizing, "We must secure leadership in America's energy and crypto asset markets." He further said, "The Committee on Foreign Investment in the United States (CFIUS) should closely investigate these companies." In response, Bitmain and Kango stated that "they comply with U.S. regulations and are not affiliated with the Chinese government or state-owned enterprises."

Hong Kong-listed social game developer Boyaa Interactive has reportedly raised 440 million Hong Kong dollars (about $56.5 million) to stockpile Bitcoin (BTC). On the 9th (local time), according to oDaily, Boyaa Interactive raised 440 million Hong Kong dollars to purchase Bitcoin. 90% of the raised funds will be used to purchase Bitcoin, and the remaining 10% will be used for company operations. Boyaa's board said, "Bitcoin is a core strategic asset of the Web3 industry," and that "by proactively stockpiling, we will enhance the company's competitiveness."

The beauty franchise operator 'Konbano', listed on the Tokyo Stock Exchange, is raising 20 billion yen (US$136.4 million) to buy Bitcoin (BTC). On the 9th (local time), BitcoinTreasury said on X (formerly Twitter), "Konbano is raising 20 billion yen to make additional Bitcoin purchases," and "The funds raised will be used to secure additional Bitcoin by the end of November." Konbano is currently reported to hold 364.93BTC.

Donald Trump’s social media service (SNS) 'Truth Social' has launched a feature to convert its own points to Cronos(CRO). On the 9th (local time), according to CryptoPotato, Truth Social recently added a function in an update that allows its own points, 'Truth Gems', to be converted to Cronos. Earlier, Crypto.com CEO Kris Marszalek said on X(formerly Twitter) that "Cronos will be Truth Social's platform token."

A White House virtual assets (cryptocurrency) official said that the U.S. government's stockpiling of Bitcoin (BTC) is a top priority. On the 9th (local time), Patrick Witt, the new White House virtual assets advisory chair, said in an interview with CoinDesk, "The three main tasks of the U.S. Virtual Assets Advisory Committee are passing the Senate Digital Asset Market Structure bill (CLARITY), implementing the stablecoin regulatory law (GENIUS Act), and the federal government's stockpiling of Bitcoin," adding, "Personally, I believe the government's stockpiling of Bitcoin is the top priority." He continued, "There remain legal issues that need to be resolved regarding stockpiling Bitcoin," and said, "We are currently studying how Bitcoin stockpiling could be defined in law." He added, "We are also considering creative ways to further stockpile Bitcoin."

Caliber, which is listed on Nasdaq, has reportedly begun purchasing Chainlink (LINK). Earlier, Caliber had said it would strategically stockpile Chainlink. On the 9th (local time), according to GlobeNewswire, Caliber said in a press release, "As part of a test transaction, we have purchased Chainlink for the first time." It did not disclose the specific purchase size. It added, "We will announce plans to raise funds to purchase Chainlink in the future," and said, "We will increase shareholder value and generate returns through long-term phased purchases." Chris Roepler, Caliber's chief executive officer (CEO), said, "This test purchase is to check the system and reorganize internal infrastructure," adding, "We will move toward becoming a company that stockpiles Chainlink through gradual purchases."

A Dogecoin (DOGE) spot exchange-traded fund (ETF) is reported to be launching on the 11th (local time). On the 9th (local time), Bloomberg analyst Eric Balchunas said on X (formerly Twitter), "RexShares' Dogecoin spot ETF will launch on the 11th," adding, "it will be the first ETF in the U.S. to hold a meme coin." Earlier, RexShares had submitted an application for a Dogecoin spot ETF to the U.S. Securities and Exchange Commission (SEC) under the Investment Company Act of 1940. Generally, crypto asset ETF issuers must submit S-1 and 19b-4 filings to the SEC, but choosing the 40 Act method allows for a faster launch.

Over the past 30 days, wallets that did not sell any Bitcoin (BTC) were confirmed to have accumulated a total of 266,000 BTC. On the 9th (local time), CryptoQuant contributor Darkfost said on X(formerly Twitter), "Over the past month, 266,000 BTC were added to wallet addresses with no selling history," adding, "This is the largest scale ever." As of 8:27 PM, Bitcoin is trading on the Binance USDT market at $112,952, up 0.79% from 24 hours earlier.

Hana Financial Group is reportedly scheduled to discuss collaboration related to stablecoins with senior Tether officials. Tether is the issuer of the dollar-based stablecoin Tether (USDT). According to industry sources on the 9th (local time), tomorrow (10th) Lee Eun-hyung, Vice Chairman of Hana Financial Group, and Park Geun-young, President of Hana Financial TI, plan to meet Tether's Vice President Marco Dal Lago, Quini Le, Head of the Asia-Pacific region, and Andre Kim, Latin America manager. It is reported that Kim Hyung-nyeon, Vice Chairman of Dunamu, will also attend. The three companies are expected to discuss the domestic and international status of stablecoins and the possibility of collaboration. Meanwhile, Tether has also held meetings with major domestic financial firms such as Shinhan Financial Group and KB Financial Group.

Ark Invest has purchased shares of 'Bitmain Emergent Technologies', an Ethereum (ETH) holding company. On the 9th (local time), The Block reported that Ark Invest bought Bitmain shares totaling $4.46 million through its exchange-traded funds (ETFs). Specifically, the 'ARK Innovation ETF' and the 'ARK Next Generation Internet ETF' bought 67,700 shares and 21,890 shares respectively, and the 'ARK Fintech Innovation ETF' also acquired 12,360 shares. Meanwhile, it appeared they sold Robinhood shares newly added to the S&P 500 index. The 'ARK Next Generation Internet ETF' disposed of 43,728 Robinhood shares, totaling about $5.13 million.

U.S.-listed company Exodus Movement has reportedly secured an additional 29 bitcoins (BTC) over the past month. On the 9th (local time), according to crypto asset (cryptocurrency) specialist channel NL Nico, Exodus purchased an additional 29 BTC last month. It currently holds 2116 bitcoins. Exodus is a company that mainly provides wallet services·asset management platform to retail investors, and it directly holds bitcoin on its balance sheet.

An analysis suggests that Bitcoin (BTC) is expected to set a new all-time high in October. On the 9th (local time), Axel Adler Jr., a contributor at CryptoQuant, said in a report, "The peak of the bull cycle occurs when the spot price is about 11 times higher than the average cost basis of long-term holders," and "Bitcoin could set a new all-time high between October~November this year," he forecasted. The analyst said the Bitcoin bull market is continuing. He said, "In March, there was a large wave of sell-offs by long-term Bitcoin holders, and subsequent additional selling occurred in the $98,000 and $117,000 ranges," and "Institutional investors are currently absorbing the sell-off volume from long-term holders." He added, "This means the bull market is still ongoing."

WEMIX (WEMIX) is ending support for its dollar-based stablecoin WEMIX Dollar (WEMIX$). On the 9th (local time), WEMIX said via Medium, "We plan to discontinue support for WEMIX Dollar within the year," and "WEMIX Dollar will be converted to USDC.e." WEMIX Dollar holders can convert to USDC.e at any time through the module service even after the service ends. WEMIX said, "USDC.e is implemented based on Circle's USDC and Chainlink (CCIP·Cross-Chain Interoperability Protocol) technology," adding, "Interoperability is strengthened, and global expansion of the WEMIX 3.0 ecosystem is expected."

Claims have emerged that whale investors are accumulating Solana (SOL). On the 9th (local time), Lookonchain said on X (formerly Twitter), "Whale investors are accumulating Solana," and announced that "two whale wallets withdrew 376,076 SOL from Binance in the past 24 hours." This amounts to about $80.7 million. Generally, the more of a particular coin that is withdrawn from a cryptocurrency exchange, the more likely that coin is to rise.

A Sweden-based healthcare company 'H100 Group' that adopted a Bitcoin (BTC) reserve strategy has raised 1,070,000 dollars. On the 9th (local time), 'H100 Group' said on X (formerly Twitter), "Through a capital increase by third-party allotment, 10,000,000 kronor (about 1,070,000 dollars) was raised," adding, "This measure enables the Bitcoin reserve strategy to be executed more flexibly." Meanwhile, H100 currently holds 1004 bitcoins.