Bitcoin Price: US$ 67,832.44 (-1.35%)
Ethereum Price: US$ 2,398.21 (-2.42%)
Bitcoin miners Marathon Digital and Riot Platforms reported their highest monthly Bitcoin production since April, marking a recovery after the halving reduced block rewards. Marathon credited its October output of 717 BTC to increased hashrate and transaction fees, while Riot’s production rose by 22.6% with new miner installations. In DeFi, Curve Finance and The Open Network (TON) blockchain have partnered to advance stable asset swaps on TON. Torch Finance and Crouton Finance are set to integrate cross-chain liquidity pools, and TON plans to expand with bridges to other networks, including major stablecoins. Meanwhile, as the election nears, Kamala Harris and Donald Trump are rallying in battleground states, while Bitcoin sees heightened volatility. Election officials have cautioned that results may be delayed due to recounts and the need to tally all types of ballots. On crypto regulation, Trump has positioned the U.S. as a potential crypto leader by accepting digital asset donations, while Harris has proposed a regulatory framework for emerging technology, showing openness to crypto through advisor-led industry engagement.
A UK-based pension scheme has allocated 3% of its fund to Bitcoin to diversify its portfolio and reduce reliance on employer contributions, mirroring a global trend of crypto adoption among pension funds. At the same time, Internet Computer’s Chain Fusion protocol is gaining traction as it facilitates Bitcoin-native decentralised finance (DeFi) applications with direct blockchain interactions, boosting Bitcoin’s total value locked (TVL) to $2.6 billion. U.S. regulators are reviewing Grayscale’s application for a multi-crypto ETF that includes Bitcoin, Ether, Solana, Avalanche, and XRP—a potential milestone for crypto index funds in public markets. This proposal, along with other Bitcoin and Ether-focused ETFs, underscores growing interest from asset managers in offering diverse crypto options for institutional investors.
EigenLayer has expanded its restaking options with wrapped Bitcoin yields and payouts through P2P.org, creating new liquidity pathways and rewards for BTC holders. P2P.org also recently distributed $2.2 million in Ether to restakers. As EigenLayer secures multiple third-party protocols, it aims to scale with consumer Web3 applications following the October unlock of its EIGEN token, targeting wider adoption and higher protocol revenues. Rune Christensen of Sky (formerly MakerDAO) proposed a deflationary model to halt token emissions under normal conditions, ensuring the core token supply is reduced through burns, except in emergencies to protect stablecoin solvency. This proposal precedes a governance vote on whether to retain MKR or adopt SKY as the primary token, aiming to stabilise the ecosystem and clarify the platform’s future. Meanwhile, Kraken has launched licensed crypto derivatives for wholesale clients in Australia, focusing on regulatory compliance and advanced trading options for large investors, and it plans to debut its blockchain, Ink, in 2025 to simplify decentralised trading, lending, and borrowing as part of its shift toward Web3 and streamlined DeFi.
Source: https://cointelegraph.com
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