Bitcoin is showing signs of exhaustion after the minutes from the Federal Reserve’s September meeting, released late Wednesday, flagged inflation concerns and revealed growing support for a faster unwinding of stimulus.

The cryptocurrency is currently trading marginally lower on the day near $57,300, having earlier touched a five-month high of $58,500. It is up 30% this month, though, buoyed by increased expectations that the U.S. Securities and Exchange Commission will soon approve a futures-based bitcoin exchange-traded fund (ETF).


The Fed minutes carried fewer references to inflation being transitory and showed policymakers are worried price pressures might remain high for longer than previously assumed.

The shift from the long-held narrative that high inflation will be short-lived suggests the central bank may opt for a faster policy tightening than is already priced in. Several policymakers said they preferred to proceed more rapidly.

Faster tightening would be negative for bitcoin and liquidity-addicted asset markets, in general. Markets have anticipated a monthly tapering of $15 billion starting from November or December. The central bank has been buying $80 billion of Treasurys and $40 billion of mortgage-backed securities every month since the onset of the coronavirus pandemic in March 2020.

Still, sentiment among some market participants remains bullish, with analysts calling for continued “HODLing” – crypto slang for buy and hold – at least till the first ETF is approved. The SEC is likely to approve at least four ETFs this month,more information

After major consolidation at around $400 levels for the last week, Binance Coin (BNB) is showing strong price action gaining 15% today. As of press time, BNB is trading 14.57% up at a price of $465 and a market cap of $78 billion. With its recent price rally, BNB has once again flipped Cardano (ADA) to becoming the third-largest crypto by market cap.

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While the BNB price has been under strong consolidation, the whales continued their accumulation over the last two weeks. But on-chain data provider Santiment refers to this as a technical breakout. It reports:

Binance Coin (BNB) is on a temporary breakout and the accumulation from its millionaire holders appears to be paying dividends. Holders with 10k to 100k $BNB have accumulated 412k $BNB in the past two weeks, adding 8.7% more coins to their total holdings.


After a muted response for some time, Binance Coin’s recent surge bring hope for investors. However, this price surge also comes on the backdrop of strong development in Binance’s ecosystem.

Binance Announces Billion-Dollar Blockchain Fund
On Tuesday, October 12, Binance announced its billion-dollar blockchain fund that focuses on introducing the next billion users to the Binance ecosystem. The funding comes to the Binance Smart Chain (BSC) which refers to its as the “biggest growth fund in the history of crypto”.source

KuCoin, a crypto exchange has been hacked by a group of hackers from North Korea
The heist group was named Lazarus, and it was a big win-win situation for them
The Lazarus’ have a very specific way of hacking, which makes it quite evident that they are the one behind it
KuCoin, a crypto exchange, has been hacked by a group of hackers from North Korea. It happened to become the biggest crypto heist in the past one year which summed up to a total of $275 million. In the past one year, on adding up the value of all the crypto thefts, it would sum up to just half of this enture heist that took place. This theft was tracked by the Chainalysis groups and seemed to be huge news. KuCoin is based in Singapore, and permits crypto exchanges using BTC, ETH, etc.

The heist group was named Lazarus, and it was a big win-win situation for them. After such an attack from the Korean side, there is a small prediction that the fraudulent crypto money is being used by the North Koreans for Nuclear project fundings, making it a matter of huge concern. Such a theft proved to create a huge void and made the entire crypto, as well as the virtual economy to face a downfall, with a huge amount of loss. A secret document from the US mentioned that a total record of $316.4 million had been stolen by the Birth Koreans altogether.

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This demands to be one of the major reasons for the huge crisis in the financial domain, which also includes the digital currency industry. The law enforcement board was able to find some link between the hack and the North Korean hackers, by carefully studying their techniques of money laundering. The Lazarus’ have a very specific way of hacking, which makes it quite evident that they are the one behind it. Kim Grauer, the leader of Chinalysis, mentioned that the hackers had a fingerprint technique of transacting the laundered assets. about more

El Salvador’s bitcoin roll-out has had its up and downs since the country officially made it legal tender on September 7th. In the past month, residents have posted both the good and bad of bitcoin adoption. It has been chiefly favorable as citizens settle into their new standard of having a cryptocurrency as a legal tender, alongside the existing dollar legal tender.

The Chivo wallet, which is the official wallet of the El Salvador government, gives out a $30 sign-up bonus to residents 14 and above to encourage the adoption of crypto. Chivo wallet has had some technical issues following the implementation. But the developers have worked out the kinks as the weeks have passed. Now, a new problem has arisen with the wallet; El Salvadorians are having their identities stolen.

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Related Reading | U.S. Mega Bank Sets Up Bitcoin Custody Service, With Other Cryptos To Follow

Identity Theft Skyrockets
The $30 BTC bonus from the Chivo wallet carries a simple condition that residents sign up with their information and confirm it is them. After the verification process is complete, citizens will receive their bitcoin bonus and be on their way. However, scammers began to exploit this at an alarming rate, to the point where citizens have started to cry out. More

Earlier this month Bitcoin officially became legal tender in El Salvador. Country President Nayib Bukele made the initial announcement back in June that Bitcoin would be a parallel currency in El Salvador. To facilitate adoption, his government also launched a digital wallet called Chivo to enable Bitcoin as a method of exchange.

Earlier this week, President Bukele tweeted to his millions of followers that more than 2.2 million Salvadorans have downloaded the Chivo wallet, adding more than 140 new users per minute.


Critics were skeptical whether Bitcoin could scale at a country-level, and Bukele stated that the Lightning Network has been able to average around 65,4000 transactions per second – so the network seems stable as well. To drive usage, the Salvadorian government deposited $30 worth of Bitcoin into each wallet.

Not only is Bitcoin gaining ground in Central America, its momentum is building in some Latin American countries as well.

According to Chainalysis’ most recent Global Crypto Adoption Index, three Latin American countries are in the global top-20 of fastest crypto uptake: Venezuela (#7), Colombia (#10), and Argentina (#11) respectively.


The index researchers found that emerging countries, such as those in Latin America, ranked due to their high volume of peer-to-peer (P2P) transactions once wealth-per-capita and internet-use multipliers were calculated. The report also found that many residents in developing economies rely on P2P crypto exchanges since they don’t have access to centralized exchanges.

The index also states that many developing markets have severe inflation, forcing residents to convert their fiat currencies into crypto to preserve value, as well as the following factors:

“Others in these areas use cryptocurrency to carry out international transactions, either for individual remittances or for commercial use cases, such as purchasing goods to import and sell. Many emerging markets represented here limit the amount of the national currency that residents can move out of the country. Cryptocurrency gives those residents a way to circumvent those limits so that they can meet their financial needs.” (Chainalysis, pg. 6).
In addition to those countries, Uruguay, Panama, and Paraguay are continuing to craft and consider various pieces of legislation that would make it easier to use virtual currencies within their respective borders.

On The Flipside
Emerging countries are outpacing developed countries when it comes to crypto adoption.
In the Chainalysis index, since last year, the U.S. slid from sixth to eighth in the ranking, while China fell from fourth to 13th — in large part due to its ongoing crypto crackdown.source

Premier decentralized exchange Uniswap wrapped up Q3 with new, exciting updates to the network
The Uniswap Auto Router launched, helping users automatically find better prices on their trades
UNI, the native tokens of Uniswap, now features its first large-cap fund, thanks to a Grayscale listing
Uniswap also announced that the Uniswap App can now fully support EIP-1559 tokens.
Uniswap has become a household name after becoming the first project to provide more than $1 billion for liquidity providers. Next-generation decentralized exchanges like Uniswap are believed to be the future of finance.

Uniswap leverages multiple crypto assets, including UNI, to provide services similar to traditional exchanges, but eliminates the need for a central operator or an administrator. So, how has this decentralized exchange performed in recent times?

Recent Developments
Uniswap had a satisfying entrance into Q4 of 2021 as Grayscale Investments, the world’s largest crypto asset manager, listed Uniswap (UNI) on one of its large-cap investment funds.

The Grayscale Digital Large Cap Fund (GDLC) is the first large-cap fund UNI will feature, despite being in the Grayscale Defi Fund since it launched in July 2021. While UNI contributes about 1% to the large-cap fund, it dominates the Grayscale DeFi fund, with approximately 45.20%.

In the last fortnight of Q3, Uniswap rolled out some exciting updates in preparation for Q4. The Uniswap Auto Router was one of the new features launched on the network. Uniswap stated that its Auto Router uses advanced smart order routing algorithms to find better prices for traders in the Uniswap app.

According to Uniswap, the Auto Router has improved the pricing on 13.97% of all trades. For trades between the top 10 tokens by TVL, the Auto Router has reduced pricing by up to 36.84%.


Entering the tail-end of Q3, Uniswap announced that the Uniswap v3 deployments on Optimistic Ethereum and Arbitrum are ready to graduate from alpha to beta. In addition, the update enabled users to seamlessly access all supported networks directly in the Uniswap App.

To improve the speed of both Layer 2 networks, Uniswap released a fast confirmation UX. However, Uniswap added downtime detection so that the Uniswap App will report any liveness recorded of the network.

Optimism Ethereum aids Uniswap in supporting any Ethereum app. Since its launch two months ago, it has processed over 2.2 million transactions, saving over $100 million in gas fees. Optimism Ethereum currently has over 100k unique addresses. Arbitrum posts more impressive stats.

Also, Uniswap announced to its community that the Uniswap App can now fully support EIP-1559 tokens. In addition, Uniswap stated that Since the Ethereum London fork, over 43,577 ETH has been burned through transactions with the Uniswap Protocol.

Future Events
Uniswap is one of the event-driven blockchain projects. As the NFT mania grows more intense, NFT Tech, the world’s most accessible NFT Marketplace, is preparing to list on Uniswap on October 21.

NFT Tech has completed its mainnet launch, which is interoperable between Ethereum and the Binance Smart chain. The project has also announced plans to launch a liquidity matching engine down the road.

The Defiant Terminal, a protocol that enables investors and analysts to track all DeFi data in one place, is also gearing up to launch on the Uniswap Network. Upon launch, users will be able to create charts and tables in relevant metrics.

The Defiant Terminal has promised to support MakerDAO value locked against MKR price, Dai lending rates, Uniswap versus Sushiswap users, token prices for the top smart contracts platforms, and more.

Price Updates
While Uniswap has been outperforming many projects in development, UNI’s native tokens have retraced and consolidated, following a huge spike amidst China’s ban on crypto.


The 24-hour price chart of Uniswap (UNI). Source: Tradingview

UNI now trades at $25.2329, after a drop of 1.47% over the last 24 hours. Uniswap still remains the 12th largest crypto project, with a market cap of $15.46 billion.

On The Flipside
While UNI has struggled in recent times, the token remains a long-term winner
Year-to-date, UNI has gained over 430%, making it one of the best performers
Community
As one of the foremost crypto projects and decentralized exchanges, Uniswap has built an enormous community with great networking. Members of the Uniswap community address each other as Unicorns.

Uniswap currently has one of the biggest communities, with over 53k Unicorns on Reddit, 66k on Discord, and over 647k on Twitter.

The DailyCoin team discovered that Unicorns are particularly bullish about developments in the ecosystem. Replying to the Grayscale listing, @KKB2010 wrote on Twitter;


On the flipside, community members are always ready to call the attention of the Uniswap team to issues identified on the network. For example, with the early launch of the Uniswap Auto Router, many users drew attention to a bug.

A tweet shared by the user, @theRealMoonCat, can be seen among several members. He wrote:


Another user, @Blackgirl_Alex, wrote;


Other Unicorns are still ardent believers in the project and its prospects. A user, @bneiluj, wrote: source

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According to a survey of 1,001 registered U.S. voters conducted by polling and data analytics firm Echelon Insights, 33 percent percent of Americans have heard about Dogecoin.

The meme cryptocurrency comes in second place in terms of name recognition (behind only Bitcoin). Considering that it enjoyed incessant news coverage because of its monstrous rallies and Elon Musk's tweets, it's not surprising that it has made its way into mainstream consciousness.   

Ethereum is in a distant third place with 13 percent, followed by Litecoin (8 percent), Tether (4 percent), and Binance Coin (4 percent).

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Only a minuscule 3 percent of American voters have heard about Ripple-affiliated XRP and Polkadot.

Dogecoin
Meanwhile, Cardano has the same name recognition as Safemoon.

17 percent of the surveyed voters believe that crypto is a good way to build one’s wealth. Only 8 percent of them are currently invested in digital assets. source