Bitcoin’s price has surged to a 16-month high and topped US$34,000. A main reason is likely the swell of optimism surrounding spot Bitcoin exchange-traded funds (ETFs) in the US. For example, there is the recent court ruling in favor of Grayscale, where the SEC will reconsider the conversion of GBTC to a spot ETF.
And with Bitcoin’s price, sentiment is also surging: the crypto market is currently at its highest point since Bitcoin’s US$69,000 all-time high, according to the Crypto Fear & Greed Index.
Note: Market prices captured in USD at the time of sending. Explore more on Crypto.com/Price.
Bitcoin Stablecoin and RWA Mainnet Test Released
Bitcoin Layer-2 infrastructure firm Lightning Labs has released the mainnet alpha of Taproot Assets, a protocol aimed at enabling stablecoins and real-world assets (RWAs) to be issued on Bitcoin and Lightning Network.
Grayscale Partners With FTSE Russell for New Crypto Indexes
US crypto asset manager Grayscale Investments has entered into a partnership with FTSE Russell — the index division of London Stock Exchange parent LSE Group — to create a new crypto indexes business, with five indexes tracking the performance of different crypto sectors.
New Developments in BTC Spot ETFs
There have been more developments in Bitcoin spot exchange-traded funds (ETFs). For instance, the BlackRock ETF has just shown up on the website of Depository Trust & Clearing Corp. — a key market utility in the US that processes all securities transactions.
MultiverseX Partners With Deutsche Telekom
Deutsche Telekom, one of Europe’s largest telecommunications companies, announced a partnership with Layer-1 blockchain provider MultiverseX. The German telecommunications giant will join a list of validators responsible for maintaining the network’s security.
Vodafone, Sumitomo Team Up With Chainlink to Explore Trade Documents Network
Vodafone Digital Asset Broker (DAB) has joined the Chainlink network as a node operator after completing a Proof of Concept with Japanese trading company Sumitomo. The companies hope to improve document transfer and processing of financial transactions in the US$32-trillion global trade ecosystem.
Charts of the Week
Bitcoin Isn’t the Only High
Selected key categories all increased in terms of market cap in the past seven days.
As a treat on Halloween, Planet IX, the biggest P2E NFT-based strategy game on Polygon, is dropping its latest collection: ‘Limited Edition — Corporation Avatar Pack’. Powered by the $IXT utility token, the game has a dedicated community of over 550,000 unique players, with 400-plus million NFTs sold. Its map consists of 1.6 billion land pieces, called PIX — all collectible individual NFTs.
This drop features ‘Corporation Packs’, which can be burned through players’ in-game inventory, unlocking Avatars from within the Corporation Genesis Collection. The Avatars have various utility connected to them in the game, with their appearance, minds, and motivations analyzed by AI and imprinted on the blockchain as NFTs.
The full story for each character can only be obtained through Planet IX’s in-game inventory. By collecting multiple characters, mysteries from the Planet IX universe can be uncovered. As players advance in the game, they can form territories, create new technology, and gain ownership of in-game corporations with different functions and perks.
Everything that players collect has true ownership, and the mission is simple: Collect assets, use them wisely, and build the world of tomorrow.
Mane City Is Fully Opening Its Gates
You can now start playing Mane City right away, even without an Access Pass. Plus, with the very first Competitive Mode season — Rise of the Golden City — coming soon, it’s the perfect time to join and earn a share of the US$100,000-plus prize pool. Find out how to start playing Mane City in three, simple steps.
Trade Meme Coins With Ease With the Degen Arcade
The Crypto.com DeFi Wallet has launched the Degen Arcade, a new trading terminal designed to help you make the most out of meme coin season. You can trade and discover meme coins plus manage your portfolio — all on one page. Find out more here.
Crypto.com App New Token Listings
GEKKO App Listing With Deposits and Withdrawals Enabled
GEKKO claims to be a meme coin for entertainment purposes only, with no intrinsic value or expectation of financial return. Its future roadmap includes a Gekko chatbot and more GEKKO utilities.
Crypto Level Up
What Are Decentralized Applications?
As the name suggests, decentralized applications, better known as dapps, are applications not owned or controlled by a central authority. Dapps run on a peer-to-peer (P2P) network, with every participating node having the same rights and responsibilities. Read on for more.
What Are the Key Features and Benefits of Dapps?
No single point of failure. Because dapps are decentralized, they are more resistant to downtime and certain hacks.
Better security and data integrity. The transparent and immutable nature of blockchain technology guarantees data integrity while reducing the possibility of fraud and transaction manipulation.
What Challenges and Limitations Do Dapps Face?
Scalability issues. As more users join the dapp’s network and transaction volume grows, it may result in higher fees and slower transaction speeds.
A relatively complex user experience. Dapps rely on blockchain technology, which is still considered nascent. This results in a user experience that may not be as seamless as traditional applications. However, this is set to improve as developers and engineers become more familiar with the technology.
Learn All About Decentralized Applications.
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Web2 is the second version of the World Wide Web (WWW) — what we know as the current version — characterized by the shift from the static web pages of Web1 to dynamic or user-generated content.
While Web1 was focused on making information accessible to the public, Web2 is about creating and contributing. It has become the basis for the commercialization of the internet, spawning some of the most significant applications we have today, such as e-commerce, social media, and virtual communication platforms.
Web2 is occasionally referred to as the participative (or participatory) web, social web, or ‘read-write’ web.
Characteristics of Web2
- High levels of user participation and user-generated content
- Interoperability across different services
- Dominated by companies that provide services in exchange for personal data
- Applications include social media, blogging, voting, tagging, social bookmarking, and podcasting
- Examples of Web2:
- Google Maps
Malware Distributed Via Fake KeePass Website Using Punycode Trick
A website impersonating the official portal of password manager KeePass was used to distribute malware. This fake website used the Punycode encoding method to register a domain name that appeared similar to KeePass’s official page. Additionally, it leveraged Google Ads to further catch unsuspecting netizens off guard.
How Do I Protect Myself From Fake Websites and Malware?
Stay vigilant. Check the URL of the website carefully and look for any spelling errors, extra letters, or unusual domains. Be wary of any website that asks you to provide sensitive information.
Ensure your connection is secure. When you visit a legitimate website, there should be a padlock symbol next to the URL in your browser’s address bar to indicate your connection is secure. However, this does not guarantee that the website is legitimate, as some fake websites may also use HTTPS. For extra security, manually type in the URL you wish to visit, rather than relying on a hyperlink.
Keep your software up to date. Ensure that your web browser and other software are updated to their latest versions. This will help protect you from known vulnerabilities that attackers can exploit.
Perform a scan with a reliable and current antivirus software. Avoid opening email attachments or downloading files from untrusted sources. Before opening anything you download, launch your device’s antivirus software and quickly scan it first. Also, regularly scan your device in order to detect malware early before it spreads.
That’s it for this week’s Snapshot. Want more? Find out what’s trending in the crypto world.