Here are the top stories of the week:
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1. Keywords: Aptos, APT
Aptos released an overview of Tokenomics, with an initial total supply of 1 billion pieces, and 51.02% of Tokens are allocated to the community.
Mainnet was launched on October 12, 2022. The initial total supply of Aptos tokens (APT) at mainnet was 1 billion tokens. APT will have 8 digits of precision as part of the fraction where the minimal unit is called an Octa.
This pool of tokens is designated for ecosystem-related items, such as grants, incentives, and other community growth initiatives. Some of these tokens have already been allocated to projects building on the Aptos protocol and will be granted upon the completion of certain milestones. A majority of these tokens (410,217,359.767) are held by the Aptos Foundation, and a smaller portion (100,000,000) are held by Aptos Labs. These tokens are anticipated to be distributed over a ten-year period:
125,000,000 APT available initially to support ecosystem projects, grants, and other community growth initiatives now and in the future for the Community category.
5,000,000 APT available initially to support the Aptos Foundation initiatives for the Foundation category.
1/120 of the remaining tokens for the community and the Foundation are anticipated to unlock each month for the next 10 years.
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2. Keywords: Huobi Global, APT
Huobi Global has listed Aptos (APT) on October 19, 2022. APT deposits opened at 14:00 (UTC) on Oct 18. APT spot trading (APT/USDT) opened at 01:00 (UTC) on Oct 19. APT withdrawals opened at 01:00 (UTC) on Oct 21.
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3. Keywords: Sui
The public chain Sui announced that it will carry out a brand upgrade. "Get ready for the Suinami" has now been added to his Twitter profile.
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4. Keywords: BTC
Bitcoin’s movements in relation to other assets may indicate that investors see it becoming a haven again, after a stretch where it’s traded basically as a risk asset, according to Bank of America Corp.
The largest cryptocurrency has a 40-day correlation with gold of about 0.50, up from around zero in mid-August. While the correlations are higher with the S&P 500, at 0.69, and Nasdaq 100 at 0.72, they’ve flattened out and are below record levels from a few months ago. BofA digital strategists Alkesh Shah and Andrew Moss see that as a sign that things could be changing.
“A decelerating positive correlation with SPX/QQQ and a rapidly rising correlation with XAU indicate that investors may view Bitcoin as a relative safe haven as macro uncertainty continues and a market bottom remains to be seen,” the strategists wrote.
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5. Keywords: Ripple, SEC
Ripple's general counsel Stuart Alderoty has just revealed that the U.S. Securities and Exchange Commission has finally complied with the court order to turn over the long-demanded Hinman documents. Alderoty made the revelation via Twitter, celebrating the move as a victory for Ripple as the documents strengthen the blockchain company's legal arguments. He added that the documents are internal SEC emails and drafts of the regulator's former director of corporation finance infamous 2018 speech, are still sealed from the public.
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6. Keywords: Crypto
Hong Kong is moving to reassure businesses that the city’s official stance on cryptocurrencies is separate from that of mainland China, and it is now considering letting exchanges and other intermediaries sell directly to retail investors as it seeks to bring back fintech businesses.
The SFC is now considering allowing retail investors to “directly invest into virtual assets”, Wong said. That would mark a shift from the SFC’s stance over the past four years, which limits crypto trading on centralised exchanges to professional investors – defined as individuals with a portfolio of at least HK$8 million (US$1 million).
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7. Keywords: zkSync
Steve Newcomb, chief product officer of zkSync development team Matter Labs, said in a Twitter Space that zkSync will make an announcement on token economics in early November. In addition, the previous news that zkSync will issue Token in November is a rumor.
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8. Keywords: a16z, crypto fund
The investment results of a16z’s first crypto fund have been exposed. According to The Information, a16z established its first crypto fund in 2018 with a size of 300 million US dollars. It realized some of the gains in last year’s crypto bull market and has now returned three times the original size of the fund to LP.
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Here's what's happening next week:
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1. Cosmos ecological smart contract public chain Juno Network token release volume is expected to be halved on October 24th.
2. The P2E game Axie Infinity token AXS will unlock 21.543 million AXS on October 25, accounting for 7.979% of the total supply (270 million), or about $218 million.
3. The Sandbox will terminate the MATIC/SAND staking pool from October 25th, and will continue the SAND staking pool and the SAND staking pool for LAND owners to reward the community.
4. OpenSea will enable OpenRarity rarity ranking for eligible NFTs on October 25.
5. The Kava 11 Liquid Staking Mainnet will be released on October 26th.
6. Ethereum core developer Tim Beiko said plans for the Shanghai upgrade will be discussed at the Ethereum Core Developers Conference on October 27.
7. Fidelity will offer Ethereum trading services for institutional clients starting October 28.
lly launched on October 28.
