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Last week, the SPX index was up by 1.36%, after the Federal Reserve's 50-basis-point rate cut. While initial reactions were negative, markets later rallied. Fed officials were split on inflation, and investors now await key economic data and speeches from Fed leaders. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 0.58%, with Bitcoin and Ether rising by 0.33% and 1.50%, respectively in the past 24 hours.
Today's top performer is TAO, which surged 9.0% following news of Bittensor's upcoming Ethereum smart contracts launch.
Bittensor (TAO), founded in 2019, is a decentralized marketplace for ML algorithms, where providers and users transact with TAO tokens. It spans over 30 domains and uses a quality-based selection process for solutions. Originally on Polkadot, it moved to its own ML-optimized blockchain in March 2023. Bittensor’s TAO token surged in two weeks as the network prepares to launch Ethereum smart contracts and EVM compatibility. These upgrades will enhance cross-chain bridges and decentralized AI subnets. Investment funds, including Grayscale, are excited, positioning Bittensor as a leading AI Layer 1 blockchain.
Check Out the Latest Prices, Charts, and Data of TAOUSDT Perp!
Jump Crypto's "Frankendancer," a validator client for the Solana blockchain, is now live, integrating contributions from Jump with existing software. This marks a step toward the highly anticipated Firedancer client, which is currently in testnet phase. Jump's Chief Science Officer, Kevin Bowers, highlighted the importance of having two independent validators for improved redundancy and performance. He likened the development of Firedancer to transforming a country road into an interstate highway. While specific timelines for Firedancer's launch remain unclear, its progress on testnet indicates significant advancement.
Date | GBTC (M USD) | Non-GBTC (M USD) | Total (M USD) |
16 September 2024 | (20.8) | 33.6 | 12.8 |
17 September 2024 | 0.0 | 186.8 | 186.8 |
18 September 2024 | (8.1) | (44.6) | (52.7) |
19 September 2024 | 0.0 | 158.3 | 158.3 |
20 September 2024 | 0.0 | 92.0 | 92.0 |
Total (weekly) | (28.9) | 426.1 | 397.2 |
Current Total (from inception) | (20,068) | 37,766 | 17,698 |
Between September 16 and 20, 2024, the BTC Spot ETF saw a total inflow of $397.2M, driven by $426.1M in non-GBTC investments, while GBTC experienced a net outflow of $28.9M. The largest single-day inflow occurred on September 17 with $186.8M from non-GBTC sources, while the largest outflow of $52.7M occurred on September 18, affecting both GBTC and non-GBTC segments. As of the latest data, total investments in BTC ETFs stand at $17.7B, with non-GBTC contributing $37.8B and GBTC showing a cumulative outflow of $20.07B.
The popular Telegram game "Hamster Kombat" has entered an "interlude season" ahead of its HMSTR token launch and airdrop on September 26. During this phase, familiar features like in-game coins and crypto exchange upgrades are gone as developers calculate airdrop allocations. Players can now earn diamonds by participating in partnered games, inviting friends, and engaging with the game's social media. The interlude serves as a temporary transition, with promises of play-to-earn rewards in the next season once the HMSTR token goes live. With over 300 million players, the airdrop is expected to heavily impact The Open Network (TON).