October 2024 Community Highlights

Hello, Notifsians!

We hope you all had a fantastic Halloween! October truly lived up to "Uptober" with Bitcoin on a remarkable run. With strong inflow Spot Bitcoin ETF driving up total crypto market cap, along with U.S. election coming up that may benefit the industry, the market is speculating with a bullish sentiment. 

While on the ground, the Notifs team have been busy attending Blocktober events in Hong Kong, from the Solana Hacker House to Hong Kong FinTech Week – keeping a close pulse with latest market developments as well as forming new collaborations to take our projects to new heights.

Before diving into our development and community updates, here are some key headlines you might have missed this month:

October Headline Snapshot

• 💰 MicroStrategy plans to raise $42 billion over the next three years to buy Bitcoin, splitting the funds evenly between equity and fixed-income securities.

• 📈 Coinbase announced a $1 billion share buyback program alongside its Q3 earnings report, revealing an 81% year-over-year revenue increase to $1.13 billion, though it missed analysts' forecast of $1.26 billion.

• 🚀 Bitcoin (BTC) surged past the $70,000 mark for the first time since June 10, peaking at $70,150 on Oct. 28 before dipping slightly. This rise coincided with significant inflows into Bitcoin ETFs, with $920 million recorded for the week ending Oct. 25, bringing year-to-date inflows to $25.4 billion.

• 🛠️ Kraken is launching a new Ethereum Layer-2 network called Ink, aimed at improving Ethereum's scalability and transaction speeds, addressing current network congestion issues. This strategic move positions Kraken to better compete with other exchanges offering Layer-2 solutions, such as Binance and Coinbase.

• 🏦 DBS Bank, Singapore's largest bank by assets, has launched "DBS Token Services" to enhance blockchain-based banking for institutional clients, integrating tokenization and smart contract capabilities with its existing banking infrastructure on an Ethereum Virtual Machine-compatible permissioned blockchain.

Events and Development Updates

Having attended numerous Blockchain events during Blocktober, it's clear that AI is stealing some of the spotlight from Web3. However, the integration of both technologies was a hot topic. At Notifs, we believe that AI is crucial for enhancing our users’ portfolio tracking experience. 

Since last year, our AI-driven news optimization has helped deliver tailored, relevant news bulletins based on assets followed, to keep our users informed. We're excited about further developments in this technology and plan to implement it into our technical analysis tools, giving our users an edge in their portfolio tracking journey.

Community Highlights

A big thank you to everyone who participated in the Notifs login campaign! Congratulations to our 5 winners! As the deadline has already passed, we would like to extend it till the end of this week to urge winners to claim your prize asap. If you weren’t selected this time, don’t worry! Stay tuned for our next activity. 

As we gear up for November, with U.S. elections and macroeconomic announcements on the horizon, make sure to set your alerts on crypto assets you follow and stay Notifs-ed!

Best,
The Notifs Team