BTC must stay above $67.8K to end the correction

Hot projects + Market overview

I. Mainstream exchange news

• WOO X has listed goatseus maximus (GOAT) for spot trading.
• Bitget has launched GOAT/USDT perpetual contract with up to 20x leverage.
• Binance will delist IDRT, KP3R, OOKI, and UNFI on November 6.
• Bitget has added X Empire (X) to its launchpool, offering 2.9 billion X tokens as rewards for those staking BTC or ETH.

II. Mainstream projects and trending events

• Citibank has terminated Ripple CEO Brad Garlinghouse’s personal banking business due to his popularity in the crypto field.
• Gitcoin, the Web3 public goods protocol, has launched its Gitcoin Grants (GG22) , running until November 7, featuring over $1.4 million in matched funds for various projects. 
• Manta Network has launched the Manta Expedition, offering MANTA tokens as rewards for cross-chain transfers to Manta from L2s like Scroll.
• mETH Protocol has announced the launch of the governance token COOK with 11.2% allocated for airdrops.
• According to Blockchain investigator ZachXBT, Yicong Wang, a Chinese over-the-counter (OTC) trader who operated under various aliases, has assisted Lazarus Group, a hacker group, in converting millions in stolen crypto into cash.
• Circle’s global head of policy, Dante Disparte, predicted that the UK government will introduce legislation aimed at regulating stablecoins within months.
• Ethereum co-founder Vitalik Buterin published a blog titled 'The Verge,' in which he laid out a plan to improve the blockchain’s Proof-of-Stake (PoS) system through a new upgrade called 'The Verge' to realize stateless client verification.
• DeFi yield protocol Veda announced the launch of points. 
• Worldcoin’s multi-signature wallet has distributed 5.3 million WLD tokens worth $12 million to five market makers over the past week, including Wintermute, GSR, Flow Traders, Auros Global, and Amber. 
• exSat, a scaling solution designed to unlock and scale the Bitcoin ecosystem, has launched its mainnet on October 23, with more than 36 nodes deployed by POS institutions.

III. Funding news

• Party Icons, a Web3 mobile gaming platform, has completed a $9 million seed round, led by Bitkraft Ventures.
• Variational, a crypto derivatives trading protocol built on Arbitrum, has completed a $10.3 million seed round, participated by Bain Capital Crypto.
• Sui Foundation has strategically invested in Arttoo and launched the Real-World Asset(RWA) art project based on the Sui blockchain.
• Fluid Protocol, developer of the stablecoin USDF for the Fuel network, has completed a $3.9 million seed round, participated by Bloccelerate.
• The Uniswap Foundation has announced a grant of $1.2 million to Areta, aimed at creating an audit and security services market to enhance the security and integrity of the Uniswap v4 hook developer community.
• Opti Games, the developer behind the online sports brawler Sparkball, has raised a $2 million funding round, led by L1D.

IV. Regulatory news

• Vietnam's government has issued a National Blockchain Strategy, aiming to establish 20 prominent blockchain brands in platforms, products, and services, recognized across the region by 2025.
• The Nigerian government dropped money laundering charges against Tigran Gambaryan, an executive of cryptocurrency firm Binance, on October 23, citing his deteriorating health as the reason.
• India's regulators signal a shift towards Central Bank Digital Currencies (CBDCs), potentially setting the stage for a ban on private cryptocurrencies like Bitcoin and Ethereum to regulate risk in its current volatile market.

V. Popular projects 

Market overview

October 24 marked a notable day for the SOL/ETH and ETH/BTC ratios.

The SOL/ETH ratio rose from 0.01 in January 2024 to 0.08, while ETH/BTC declined from 0.06 to 0.04, highlighting SOL's strong performance against ETH.

Bitcoin rebounded from a low of $65,260. It needs to stabilize above $67,800 to conclude its current correction phase.

ACT: Advancing AI interactions

ACT has gained traction for its unique setup involving multiple AI agents that simulate real-world interactions to discover emergent behaviors.

Backed by Chapter II and AI developers from Unikara and Polyverse, ACT not only enhances AI cooperation and understanding but also preempts these interactions before they scale broadly. 

Often considered an advanced version of the GOAT project, ACT is a critical tool in exploring AI dynamics outside conventional settings, with a market cap of $40 million.

SHOGGOTH: The AI lore giant

Shoggoth, a creature from the Cthulhu Mythos created by American author H.P. Lovecraft, first appeared in his story "At the Mountains of Madness."

Beyond its literary roots, Shoggoth has evolved into a significant symbol in AI discussions, earning the title of "the most important meme in AI" by The New York Times.

The SHOGGOTH token has reached a market cap of $27.28 million.

FARTCOIN: The hyped beta of GOAT

FARTCOIN emerged from discussions on Truth Terminal, touted as the beta version of the GOAT project.

Its rise in popularity is partly due to "Meme Godfather" Murad accumulating the token.

FARTCOIN has $1.7 million in on-chain liquidity and a market cap of $53.66 million, demonstrating considerable community engagement and speculative interest. 

SLOP: The AI meme distribution bot

SLOP bot stands out as an early AI-bot initiative that employs the specialized @heyglif bot for automated distribution of high-quality and engaging memes.

SLOP has carved a niche in the meme community, with a market cap of $10 million and a volatile token price.

FLAVIA: The autonomous AI memecoin

FLAVIA is a memecoin managed entirely by an AI agent, autonomously running its own X account and community channels.

Supported by Trevor McFedries, who previously created the virtual AI influencer Lil Miquela with 2.5 million followers on Instagram, Flavia is developed using Anthropic AI.

This innovative approach positions FLAVIA uniquely in the digital space, with a market cap of $32.62 million.

Solana ecosystem's market rally

The Solana ecosystem is thriving, with SOL breaking past key resistance levels, catalyzing a broad surge across related projects.

Notable successes include the meme coin POPCAT, achieving a record market cap of $1.6 billion, and veteran meme BOME, which witnessed a daily increase of over 14%. DeFi projects like JUP and JTO are also gaining, especially as the SOL/ETH exchange rate surpasses the 0.1 mark.

On-chain daily

ACT: ACT is an AI memecoin on the Solana blockchain, generated in a similar manner to GOAT. Act I is also another AI project funded by Marc Andreessen, co-founder of a16z, and includes members like Truth Terminal founder Andy Adyrey.

• On-Chain Token Holding Addresses: 11,673
• Current Price: $0.05
• Market Cap: $50M
• Official Twitter: https://x.com/amplifiedamp

BORK:BORK is a memecoin on the Ethereum blockchain. It features a visual that resembles an overweight orange pepe, and its mission is to engage the degen community.

On-Chain Token Holding Addresses: 745

• Current Price: $0.01
• Market Cap: $1M
• Official Twitter: https://x.com/BorkOnEthereum

3. VIRTUAL:VIRTUAL is an AI + Meme LaunchPad on the Base blockchain. It allows creators to launch memecoins, create characters, avatars, and integrate with different platforms.

On-Chain Token Holding Addresses: 38,476

• Current Price: $0.1756
• Market Cap: $68M
• Official Twitter: https://x.com/virtuals_io

4. GOAT:GOAT is a memecoin on Ethereum that imitates the GOAT project on Solana, featuring AI-driven memes.

• On-Chain Token Holding Addresses: 2,464
• Current Price: $0.00487
• Market Cap: $8.7M
• Official Twitter: https://x.com/GOAT_erc

5. HOPPY: HOPPY is a memecoin on the Ethereum blockchain, featuring the main character of Matt Furie’s first comic book, "The Night Riders". Matt Furie is also the creator of Pepe.

• On-Chain Token Holding Addresses: 17,023
• Current Price: $0.00025
• Market Cap: $107M
• Official Twitter: https://x.com/hoppycoinERC20

6. MIKO: MIKO is a memecoin on the Ethereum blockchain. It features a character styled in a Japanese aesthetic, calling herself the "Memecoin Girl".

• On-Chain Token Holding Addresses: 772
• Current Price: $0.00181
• Market Cap: $1.8M
• Official Twitter: https://x.com/memecoin_girl

Bitcoin Ecosystem Overview

BTC Mainnet Gas Fee Update:

• Current BTC Transaction Fee: 2 satoshis/byte
• Gas fees have been low but have seen a slight rebound in the last three days.

Fractal Bitcoin Gas Fee Update:

• Current Transaction Fee: 32 satoshis/byte
• Gas fees have remained low for about a week, reflecting weak price movement.

Inscription, Rune, and Fractal Bitcoin Leading Token Tracking:

ORDI:

• Current Price: $34.46
• 24-Hour Change: -1.27%
• Market Cap: $724.64M

DOG:

• Current Price: $0.004775
• 24-Hour Change: -4.49%
• Market Cap: $477M

FB:

• Current Price: $6.18
• 24-Hour Change: +1.15%
• Market Cap: $27.09M

Disclaimer

The development and market cap of stablecoins mentioned in the above content is speculative and based on market analysis at the time of writing and should not be interpreted as guaranteed outcomes. Market conditions can fluctuate widely and unpredictably due to numerous factors such as regulatory changes, market demand, and global economic developments. 

The information provided in this article is for general informational purposes only and does not constitute financial, investment, legal, or professional advice of any kind. While we have made every effort to ensure that the information contained herein is accurate and up-to-date, we make no guarantees as to its completeness or accuracy. The content is based on information available during writing and may be subject to change.

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