BTC Price Drop
October for the BTC rate started with a not very successful downward movement. At the beginning of the week, the price was at $65,900, but by the middle of the week it fell to $60,200. Now Bitcoin has recovered a little, rising to $62,000. The index of fear and greed in the crypto market has again fallen into the "fear zone", amounting to 42 points out of 100. Such low values have not been observed since September 17.
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Bloomberg: Dogecoin Is No Longer a Joke
Dogecoin, originally created as a joke, has gained popularity among merchants for settlements in 11 years. Bloomberg studied the key aspects of this meme coin.
Journalists emphasized that the average transaction fee on the network is less than $ 0.01, which is about 79 times cheaper than in the Bitcoin blockchain. Transactions are processed in less than a minute. DOGE is great for money transfers, where fees can reach 7% due to the participation of intermediaries.
Dogecoin's popularity is largely due to its humorous image and the support of celebrities such as Snoop Dogg, Lil Yachty, Elon Musk and Mark Cuban. Elon Musk has previously actively contributed to the promotion of this cryptocurrency.
Satoshi-Era Whale Active Again
An anonymous user who has been storing over $72.5 million in BTC since 2009 recently made a $3.58 million transfer to the Kraken crypto exchange. This event attracted the attention of analysts. Experts also noted that on September 24, the same whale transferred 5 BTC, which at the time amounted to about $315,970.
Ethereum Foundation Sold Over 3,700 ETH in a Year
The Ethereum Foundation (EF) has sold 3,766 ETH, equivalent to $10.46 million, this year. The most recent sale, which sold 100 ETH for 262,470 DAI, took place earlier this week.
The Ethereum Foundation is a non-profit organization dedicated to the development and promotion of Ethereum and related technologies. It was founded in 2014 to promote the development of a decentralized, open-source ecosystem.
In September, Ethereum researcher Justin Drake noted that the EF has enough funds to operate for about 10 years, based on current ETH prices. The foundation plans to publish a financial report in the coming months.
The organization’s main wallet currently holds 271,274 ETH, which is worth about $715 million at current prices.
Ripple Fights SEC Appeal
Ripple Labs is set to fight the U.S. Securities and Exchange Commission’s appeal, which challenges the court’s ruling that retail sales of XRP do not violate securities laws. In a statement on October 3, CEO Brad Galinghouse expressed his willingness to defend XRP’s status as a non-security, saying Ripple will fight the SEC as long as it takes. Recall that on October 2, the SEC filed an appeal against the ruling of the Southern District Court of New York, which ruled that XRP cannot be classified as a security.
HBO Documentary on Bitcoin Creator
On October 9, a new HBO documentary will hit screens that will try to reveal the identity of the creator of Bitcoin, hiding under the name Satoshi Nakamoto. The film, titled Money Electric: The Bitcoin Mystery, was created by director Cullen Hoback, known for his previous project Q: Into the Storm, which analyzed the QAnon conspiracy theory in the United States.
Alex Thorne, head of research at Galaxy Digital, noted that, according to the authors of the film, the true identity of Satoshi is Len Sassaman. This version was put forward in 2021 by the founder of the Worlds gaming project and Bitcoin enthusiast Evan Leung Hatch. Sassaman, a well-known cypherpunk, died in July 2011.
