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  • Crypto Alpha - 28 October 2024

Crypto Alpha - 28 October 2024

Daily Alpha on All Things Crypto, Web3 and Blockchain

TL;DR

  • Russia's Crypto Crackdown: Get Ready, Miners!

  • Solana Flexes on Ethereum and Base

  • FTX and Bybit: The $175M Drama Continues

  • $ai16z: When Memes Become Millions

  • Ethena Labs: Yield Farmers, Beware!

  • Catizen's Zircuit Launch: Stake 'Em If You Got 'Em!

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Alpha of the Day

Russia's Crypto Crackdown: Get Ready, Miners!

Russia is about to tighten its grip on crypto mining with fresh regulations set to drop on November 1st. If you thought you could mine in peace, think again! The government’s new rules will keep a watchful eye on mining activities, meaning it's time to adapt or get left in the blockchain dust. These changes will impact both miners and traders alike, making Russia one of the more heavily regulated crypto spaces. Better start brushing up on those legalities if you want to keep stacking that Bitcoin without a hitch!

Solana Flexes on Ethereum and Base

In the world of decentralized exchanges (DEX), Solana is out here pulling stunts, leaving Ethereum and Base in the dust with a massive lead in 7-day DEX volume. What’s more, $RAY has been the star of the show, accounting for over 60% of that volume. It seems Solana has found its groove, and while Ethereum and Base are trying to keep up, Solana’s been busy sipping crypto champagne, basking in the glow of all that volume. Looks like Solana is having a hot DEX summer... or fall, rather.

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FTX and Bybit: The $175M Drama Continues

FTX and Bybit are like that couple who keeps making up and breaking up over money, and now they’ve settled to recover a cool $175 million in digital assets. The drama isn’t quite over yet, though—court approval is still pending, with a hearing slated for November 20th. Oh, and don’t forget the $53 million worth of BIT tokens they’re looking to unload. It’s like a crypto soap opera where everyone’s just waiting for the next plot twist—tune in for the hearing!

$ai16z: When Memes Become Millions

Talk about meme magic! $ai16z shot up to a $100 million market cap after simply reacting to a post by Andreessen himself. Apparently, when Andreessen speaks (or posts), the market listens. In this case, $ai16z skyrocketed in what can only be described as the crypto equivalent of going viral. Sure, it’s a temporary high, but for a minute there, the internet was convinced $ai16z was the next big thing—memes are the new money, folks.

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Ethena Labs: Yield Farmers, Beware!

Rumor has it that Ethena Labs has been doing some sneaky farming, allegedly using 25% of $sENA tokens to farm Sats. This has the community up in arms, with accusations that Ethena is diluting other users' yields. It’s like that shady neighbor who keeps borrowing your lawnmower and then uses it to start a landscaping business. Whether the rumors are true or not, it’s safe to say the yield farming community is keeping a close eye on their tokens.

Catizen's Zircuit Launch: Stake 'Em If You Got 'Em!

Catizen’s first staking pool has finally launched, and the inaugural project is none other than Zircuit ($ZRC). To get in on the action, all you need is between 1 and 2000 $CATI to stake. It’s like crypto’s version of a VIP club—only instead of bottle service, you’re staking tokens. Whether you’re a whale with a boatload of $CATI or just a humble staker, Catizen’s launch has something for everyone. Time to flex those staking muscles!

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