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  • Crypto Alpha - 20 October 2024

Crypto Alpha - 20 October 2024

Daily Alpha on All Things Crypto, Web3 and Blockchain

TL;DR

  • Vitalik published an article addressing Ethereum's risks and primary objectives.

  • Musk announced that $1 million will be given away daily to Pennsylvania voters who sign the America PAC petition until election day.

  • According to Francois' chart, Bitcoin whales amassed around 60K BTC within a 24-hour period.

  • Pump.Fun is gearing up for a future token launch.

  • 41 Bitcoin ETFs currently hold 1.126 million BTC, valued at $77 billion.

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Alpha of the Day

Vitalikā€™s Risky Ethereum Memo: "Weā€™ve Got Some Work to Do"

Vitalik Buterin just dropped an article thatā€™s basically the ultimate "Ethereum check-up." In his latest piece, heā€™s giving us the lowdown on the hurdles Ethereum is facing, from scalability to security risks, while also mapping out some major goals, like making Layer 2 chains more interoperable. Itā€™s kind of like a ā€œweā€™ve come far but hold onto your ETHā€ moment. If youā€™re into blockchain upgrades or just like seeing Vitalik throw shade at Ethereumā€™s flaws (while also offering solutions), this article is the ultimate roadmap to understanding where Ethereum is headed.

Muskā€™s $1 Million Election Day Bonanza for Pennsylvania Voters

Elon Musk is at it againā€”this time with a daily $1 million giveaway. But hereā€™s the catch: itā€™s only for Pennsylvania voters who sign the America PAC petition. From now until election day, Musk is ready to open his digital wallet like a political Santa Claus, all in the name of democracy (and a little bit of PR, let's be real). With this move, he's basically turning every day into a mini lottery, and itā€™s bound to make headlines, memes, and maybe even some questionable Twitter threads. Voters, check your Venmo!

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Francoisā€™ Bitcoin Whale Watch: 60K BTC Gobbled Up in 24 Hours

Francois has us all watching the whales againā€”Bitcoin whales, that is. According to his chart, the big fish in the crypto sea just accumulated a whopping 60,000 BTC in a single day. That's like whales going on a shopping spree and maxing out their crypto credit cards. This kind of accumulation is like seeing someone order 10 pizzas for themselves: suspicious, a little impressive, and bound to cause a stir. If you're wondering why Bitcoin's been looking so pumped lately, you can probably thank these mega-holders.

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Pump.Funā€™s Token Launch: Get Ready for the Hype

Pump.Fun is not just a catchy name; itā€™s the next hype train in the crypto world. The platform is gearing up to launch its tokens, and you can bet itā€™s going to come with a lot of FOMO and moon emojis. While details are still trickling in, the anticipation is growing, and you know how the crypto community loves a good token drop. Whether you're in it for the tech, the community, or just the memes, Pump.Funā€™s upcoming token is likely to make some noiseā€”and maybe even pump your portfolio. Stay tuned for the fireworks.

Bitcoin ETFs: Holding $77 Billion Worth of Digital Gold

If youā€™re still wondering how seriously people are taking Bitcoin ETFs, hereā€™s your answer: 41 ETFs are now holding a combined 1.126 million BTC. Thatā€™s about $77 billion worth of digital gold, safely tucked away in financial products designed for those who want a slice of the crypto pie without the hassle of private keys. Itā€™s like Bitcoin, but with a suit and tie, appealing to investors who prefer their crypto with a bit of formality. These ETFs are setting new records, and itā€™s clear: the institutional crypto crowd is not here to mess around.

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