Crypto Getting ready for Uptober?
In this newsletter:
Cryptomarket declines as BTC and ETH prices drop below 1% :
In the last 24 hours, cryptocurrency values declined, notably those of Bitcoin (BTC) and Ethereum (ETH). The entire crypto market volume declined by 6.67 percent to $68.61 billion on the previous day, while the worldwide crypto market capitalization increased by 0.42 percent to $945.22 billion.
The price of BTC dropped by 0.10 percent to $19,475.68. Market capitalization dropped to $373.7 billion, down 0.17 percent, and trading volume dropped to $39.6 billion, down 11.24 percent. The market share of BTC fell to 39.48%, a 0.14 percentage point decline.
The price of ETH dropped by 0.11 percent to $1,337.80, while the market capitalization declined by 0.18 percent to $163.5 billion. It’s trading volume decreased to $13.3 billion, a 10.1 percent decline
today ‘s top gainer was XRP, it’s price rose by 9.56 per cent to trade at $0.4829, while its market cap increased by 9.54 per cent to $24.3 billion
Before making an offer to purchase Twitter, Elon Musk was considering starting a blockchain-based social media firm:
The billionaire's idea for a social media site where users would have to pay to post brief messages on a blockchain is revealed in a series of text texts that have been made public as part of continuing lawsuit over the failed Twitter deal.
"I think a new social media company is needed that is based on a blockchain and includes payments," Elon Musk said in a text message just days before he offered to buy Twitter (TWTR) for $43 billion back in April.
The 40 pages of text messages covered the six months from January to June. The messages feature a number of well-known entrepreneurs and public people — including Joe Rogan, Gayle King, Jason Calacanis, and controversial podcast presenter Joe Rogan — praising the billionaire's aspirations for the social media network and advertising the takeover bid.
"I have an idea for a blockchain social media system that does both payments and short messages/links like [T]witter. You have to pay a tiny amount to register your message on the chain, which will cut out the vast majority of spam and bots. There is no throat to choke, so free speech is guaranteed," Musk said in a text message to his entrepreneur brother Kimbal Musk on April 9.
According to sources, Arthur Cheong of DeFiance Capital is raising money for a new fund.
The fund will concentrate on liquid cryptocurrency assets and aim to raise roughly $100 million,a person with knowledge of the situation stated.
Four persons with knowledge of the situation claim that Arthur Cheong, the creator of the DeFiance Capital cryptocurrency investment fund that was impacted by the collapse of Three Arrows Capital this year, is raising money for a new fund.
The new venture fund, which will continue to operate under the DeFiance moniker, will concentrate on liquid crypto investments and aim to raise roughly $100 million. According to the source, DeFiance is concentrating its efforts on institutional investors including family offices and fund of funds.
Cheong choose not to respond. He established DeFiance in August 2020, with a focus on venture capital investments in Web3 firms and decentralised finance solutions.
A successful fundraising effort would represent something of a comeback for DeFiance. It said in July that it was “materially affected” by the failure of Three Arrows, which filed for bankruptcy and is facing $3.5 billion in creditor claims.