Spot Gold Price Reaches $4080 per Ounce, Up 1.73% Today

On October 13th, Whale Garrett Jin, who previously sold more than $4.23 billion worth of BTC in a high-profile manner and switched to ETH, posted, "The more fundamental issue in the crypto industry is that exchanges provide high leverage for assets with no intrinsic value in order to meet user demand and boost profits. Such high leverage used to only exist in the foreign exchange market, where the underlying assets have value support, low volatility, and liquidity provided by banks." If exchanges continue to offer extremely high leverage, they should at least establish a mechanism similar to a stable fund, like in the US stock market, to provide liquidity support during crises. Only in this way can trust be rebuilt, capital be attracted, and the market develop healthily. The sharp drop on October 11th once again demonstrated that the market greatly needs liquidity support during extreme volatility. Exchanges that take the lead in establishing a stable fund will not only attract capit

On October 13th, Bitfinex issued a report indicating that last week, the Bitcoin price declined from above $126,000 to below $103,310, representing an 18.1% pullback and triggering the largest liquidation event in the history of the cryptocurrency market in terms of nominal value. Ethereum dropped from $4,750 to $3,500, and various alternative coins witnessed an immediate drop of over 80% in illiquid conditions. Within three hours on October 10th, approximately $1 trillion was wiped out from the entire cryptocurrency market. The total market capitalization temporarily dropped from a high of $4.26 trillion in October to $3.3 trillion, with over $19 billion in liquidation positions on a single day. This sell-off was triggered by aggressive selling pressure in the spot market. It was exacerbated by the escalating trade tensions on October 10th, resulting in a 2.5x imbalance between sellers and buyers on major exchanges. The futures market intensified the decline. Cumulative volume discre

On October 13th, according to HTX market data, Bitcoin has rebounded and is now trading above $115,000, specifically at $115,273, with a 24-hour increase of 3.31%.

On October 13th, as per Fortune magazine, a competition for the dominant position in the prediction market is currently in progress between Kalshi and Polymarket. The prediction market has been around for many years, but it was not until 2024 that it truly gained momentum under a more lenient regulatory environment. Both companies announced new funding rounds last week. However, Polymarket's valuation reaching tens of billions of dollars has caused even greater commotion. The product differences between the two startups are almost as insignificant as those between Uber and Lyft. Apart from Kalshi having a slight edge in the regulatory process, the most notable difference is that Polymarket is built on blockchain infrastructure. Kalshi is eager to incorporate crypto features, but it is not easy to catch up with the competition. Polymarket has been conducting transactions on the Polygon Layer 2 network since its establishment, and its founder Shayne Coplan (now 27 years old) even

On October 13th, as per globenewswire, which is the official business arm of the Dogecoin Foundation, House of Doge Inc. announced today that it has entered into a definitive merger agreement with Brag House Holdings, Inc. (NASDAQ: TBH). Brag House is an interactive platform focused on Gen Z and has business operations in the gaming, college sports, and digital media sectors. Under the terms of the agreement, Brag House will acquire House of Doge through a reverse merger transaction. This proposed merger has received unanimous approval from both boards of directors and is intended to promote the mainstream adoption of Dogecoin and institutionalize its utility value.