Ndax Weekly TL;DR October 14th
Every Monday, we cover the latest developments and trends in the dynamic and ever-evolving world of cryptocurrency. From price movements, industry news and our favorite resources, we strive to provide our readers with a comprehensive overview of the crypto landscape.
Happy Monday, Ndaxers— Here’s what happened last week:
Top Stories
- HBO Documentary Suggests Peter Todd Is Satoshi Nakamoto
- Ripple Labs Files Cross-Appeal in Ongoing SEC Legal Dispute
- Uniswap Launches Unichain, a Layer-2 Blockchain for Faster, Cheaper Transactions
- Cardano Hosts Argentina’s First Legally Enforceable Smart Contract
HBO's new documentary "Money Electric: The Bitcoin Mystery" claims that Canadian developer Peter Todd is the elusive creator of Bitcoin, Satoshi Nakamoto. The documentary’s producer, Cullen Hobak, presents circumstantial evidence, including cryptic online posts and Todd’s involvement with Bitcoin’s early development, to support this assertion. However, Todd has denied these claims, and the broader cryptocurrency community remains skeptical. Researchers and analysts argue that key facts, such as Todd's timeline in the cryptography space and his involvement with the Replace-by-Fee proposal, contradict HBO's conclusions. crypto.news
Ripple Labs has filed a notice of cross-appeal in its ongoing legal case against the U.S. Securities and Exchange Commission (SEC). The notice, filed on Oct. 10 in the U.S. District Court for the Southern District of New York, moves the dispute to the Court of Appeals for the Second Circuit. This cross-appeal follows the SEC’s appeal earlier in October, both seeking to address aspects of an August ruling. That decision ordered Ripple to pay a $125 million civil penalty for securities law violations, though the SEC initially sought a $2 billion fine. Ripple’s legal team aims to review potential legal and procedural errors in the decision. Further proceedings are expected as both parties present additional arguments. Cointelegraph
Uniswap Labs has introduced Unichain, a layer-2 blockchain designed to enhance transaction speed, reduce costs, and improve cross-chain interoperability. Currently in testnet, Unichain is part of Optimism’s Superchain and aims to provide near-instant transaction experiences with plans for block times under 250 milliseconds. The new network will allow access to liquidity from other chains within the Superchain and incorporates technologies like Rollup Boost from Flashbots to optimize transaction ordering and minimize harmful practices such as Maximum Extractable Value (MEV). Cointelegraph
Cardano has facilitated the first legally enforceable smart contract in Argentina, following the country’s legalization of cryptocurrency for commercial contracts. The contract, signed by Cardano ambassadors Mauro Andreoli and Lucas Macchia, involves a loan of 10,000 ADA tokens with a 10% interest rate, payable in four months. The agreement, fully compliant with Argentine law, marks the first instance where local courts have jurisdiction to enforce payment in ADA. Andreoli stated that this milestone could set a precedent for broader recognition of smart contracts in Argentina, potentially streamlining processes for various legal agreements like rentals and purchase contracts. Cointelegraph
Latest News
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News Nuggets
- Canadian Labor Market Exceeds Expectations with Strong Job Growth in September BNN Bloomberg
- SEC Chair Gary Gensler Questions Cryptocurrency’s Future at NYC Event Cryptonews
- Caroline Ellison Agrees to Forfeit Assets to FTX Estate in Bankruptcy Settlement CryptoSlate
- Hong Kong’s SFC Aims to License More Crypto Exchanges by Year-End Cointelegraph
- U.S. Government Supports Class-Action Lawsuit Against Nvidia Over Crypto Mining Revenue CryptoSlate
- FTX Executive Ryan Salame Begins Prison Sentence Following Tucker Carlson Interview Cryptonews
- Crypto Donations Support U.S. Hurricane Relief Efforts Cryptonews
- Fugitive Escapes $150 Million Crypto Fraud Trial in New York crypto.news
- SEC Delays Decision on Spot Ethereum ETF Options, Extending Timeline to December Cointelegraph
Weekly Moves
As of 10-14-2024 at 8:50 AM EST
Market Summary
- Over the last seven days, the global cryptocurrency market cap has gradually increased to approximately CA$3.1 trillion from CA$3.06 trillion.
- Bitcoin's market dominance is currently at 56.7%, while Ethereum's share stands at 13.7%.
Performance
- Over the past 24 hours, the price of BTC has fluctuated between CA$86K and CA$89K, registering a 4% change over the past week and a market cap of CA$1.8 trillion. At Ndax, the weekly movers are SEI, which saw a 13% increase in the last seven days, reaching a market cap of CA$2.3 billion, and TIA, which experienced a 13% rise with a market cap of CA$1.8 billion (at the time of writing).
Visit our new markets page offering real-time data for almost 15,000 cryptocurrencies. Track trends, monitor your favorite cryptocurrencies, and stay ahead of the market.
Upcoming Events
Mark your calendars!
- Oct 15 – Canada Inflation Rate Announcement
- Oct 17 – U.S. Initial Jobless Claims Announcement
- Oct 23 – Canada Interest Rate Announcement
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The team at Ndax