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Share link:In this post: Solana’s daily economic activity surged to an all-time high of $7.9 million on October 22nd. A chart from Blockworks reveals that the network’s real economic activity has exponentially increased since the end of September. Most of the activity comes from tips (Jito) and priority fees, while base fees and vote fees account for the smallest share of the economic activities.
Share link:In this post: The blob competition lasted for a short time, and it may be due to the Scroll airdrop event. L2s may change their behavior and their usage of Ethereum if blobs become too expensive. The event briefly raised L1 rent for the most active chains, with the biggest increase for Scroll and Base.
Bernstein analysts predict bitcoin will reach $200,000 by the end of 2025, calling the forecast “conservative.”
Share link:In this post: JPMorgan economist Haibin Zhu thinks China’s latest economic measures won’t provide the big stimulus needed to revive the slowing $18 trillion economy. Investors and analysts are skeptical, as Beijing’s focus remains on manufacturing and exports instead of boosting domestic demand. China’s property sector is still struggling, with house prices falling and weak government measures failing to make an impact.
- 02:00Elon Musk’s Alleged Former Instagram Account Auctioned, Potential Launch of Fraudulent Meme CoinOdaily Planet Daily reports that the Instagram username "@elonmusk," which uses Elon Musk's name, is currently being auctioned in the Telegram "Tekk" username trading group, with the highest bid reaching $6,000. This username has been changed eight times, and the current profile name is "Tekk." Security experts warn that the new owner may use this well-known account to promote unvetted meme coins or phishing links, advising users to remain vigilant and guard against related risks. (Protos)
- 01:34Asset Management Firm KraneShares Files with US SEC to Launch Coinbase 50 Index ETFAccording to ChainCatcher, The Block reports that ETF-focused asset management firm KraneShares announced on Friday that it has filed an application with the U.S. Securities and Exchange Commission, planning to launch an "Exchange 50 Index ETF" that tracks the top 50 digital assets by market capitalization. This index product, launched by the largest U.S. cryptocurrency exchange at the end of 2024, adjusts its constituent weights quarterly. Its top three holdings are currently Bitcoin (50%), Ethereum (approximately 21%), and XRP (9%). KraneShares was founded by Jonathan Krane in 2023 and is a New York-based investment company primarily focused on China, climate, and alternative investments. The company is majority-owned by China International Capital Corporation (CICC), a leading Chinese financial services institution.
- 01:34Alleged Former Instagram Account of Elon Musk Up for Auction, Bids Reach $6,000According to ChainCatcher, citing a report from Protos, an Instagram account using the name of Elon Musk is currently being auctioned in a trading group on Telegram, with the highest bid reaching $6,000. The account's username has been changed eight times, and the name currently displayed in the profile is "Tekk." The sale of this account has raised concerns that the new owner might use it to promote questionable meme coins. Last year, millions of dollars worth of cryptocurrency were stolen after several X and Instagram accounts were hacked, including those belonging to McDonald's, Usher, and Wiz Khalifa. Musk deleted his Instagram account in 2018 and has not had an Instagram account for seven years.