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Quick Take Aptos Labs added former Grayscale Investments CEO Michael Sonnenshein and OpenAI Chief Product Officer Kevin Weil to its advisory board. Sonnenshein and Weil will help bolster Aptos’s growth in artificial intelligence, institutional adoption and other endeavors.
Avalanche (AVAX) shows strong momentum, surpassing TRON in market cap growth. TRON faces reduced activity, with key support levels critical for price stability. AVAX’s overbought RSI signals potential short-term correction amid bullish trend.
DeSci is attracting a lot of interest from crypto users. Crypto analysts compare DeSci’s current state to that of DeFi in 2017. DeSci coins a low-cap, with massive upside potential.
Shiba Inu faces a bearish trend as it struggles to maintain critical support levels. High trading volume signals interest, but sell-offs dominate Shiba Inu’s price action. November forecast predicts SHIB trading between $0.0000263 and $0.0000553 amidst volatility.
Quick Take The Movement blockchain project has introduced its native MOVE token with a supply of 10 billion tokens. MOVE will initially be launched as an ERC-20 token during a token generation event on Ethereum.
Quick Take Phantom’s support for Base is out of beta and available for all users. Base has a total value locked of nearly $3.4 billion as of Monday.
- 07:57Commissioner of the U.S. SEC: U.S. Cryptocurrency Regulation Resembles Playing "The Floor Is Lava" in the Dark; It's Time to "Turn on the Lights"According to Cointelegraph, U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce stated at the SEC "Know Your Custodian" roundtable meeting that American financial institutions handle cryptocurrency business as if playing "The Floor Is Lava" in the dark. Peirce explained that registrants of the U.S. Securities and Exchange Commission must treat activities related to cryptocurrencies as if they're playing "The Floor Is Lava." They aim to jump from one piece of furniture to another without touching the ground, where directly touching cryptocurrencies is the lava. "The Washington D.C. version of this game is our approach to regulating crypto assets, particularly crypto asset custody," she said. Due to unclear regulatory rules, companies wanting to engage in cryptocurrencies must avoid directly holding them. Hester Peirce stated, "It's time we find a way to end this game. We need to turn on the lights and build some walkways over the lava pits,"
- 07:57Synthetix: Legacy SNX Staking Positions Have Been Liquidated, Users Need to Migrate SoonSynthetix: Legacy SNX Staking Positions Have Been Liquidated, Users Need to Migrate Soon As per a report from Jinse, according to Synthetix's official announcement and SCCP-403 proposal, Synthetix has begun liquidating legacy SNX staking positions and is urging users to migrate to the new 420 staking pool. Users with a collateral ratio above 160% can recover their staking positions within six months by submitting a ticket through Discord, while positions with a collateral ratio below 160% will be permanently liquidated. Migrated positions will retain the original debt, and users can repay the debt at any time to unlock SNX. This migration is to support the upcoming perpetual contract v4 and automated vaults, among other new products. The new 420 staking pool will offer users a 12-month debt exemption period, along with the introduction of sUSD debt staking requirements and related incentive mechanisms in the coming weeks.
- 07:57Bitcoin Perpetual Contracts Open Interest Rises to Approximately 218,000 BTC, Short-Term Bearish Signal in Market ReboundDespite a more than 12% increase in Bitcoin prices over the past week, the derivatives market data indicates a short-term bearish sentiment. According to Glassnode, the open interest of Bitcoin perpetual contracts has risen to approximately 218,000 BTC, a 15.6% increase since early March, indicating increased leverage usage, which may lead to intensified market volatility. Additionally, the average Bitcoin futures funding rate has dropped to about -0.023%, showing that short positions dominate, with contract prices below spot prices, further reflecting a weakened demand for long positions in the market.