Bitcoin (BTC) has remained in range as price was able to reach a high of around 10,900 and reverted back to immediate support around 10,600 yesterday. Today, price hasn't moved much in the daily and is currently trading above 10,700. However, looking in the 4H chart, there may be a potential dump to test key support around 10,100 if price isn't able to hold above the 50 MA. Key resistance remains intact around 10,900 - 11,000.
Global market cap is at $345B, while BTC's market cap is at $198B.
Eminence, an upcoming project by Yearn's Andre Cronje has been targeted by hackers and stole almost $15 million from the project. According to a Cointelegraph report, Eminence is an "economy for a gaming multiverse" and is under test production. The project was discovered after the developer posted teasers of the project on Twitter on September 28. The DeFi community's excitement was evident as roughly $15 million poured into the EMN protocol. However, the protocol was easily exploited and hackers were able to drain the full $15 million and surprisingly returned the $8 million back to Cronje's deployer account. Due to the incident, the Yearn treasury will assist in refunding the $8 million back to the users.
Kenya's Young Entrepreneurs Network (YEN) has developed a stablecoin, YENTS, with the unusual purpose of being a means of payment for sporting events and training programs. YEN's CEO Kamau Nyabwengi told The Africa Report that YENTS is set to launch in November, with the hopes to use it to accept investments into a planned golf course. YENTS has began testing in Kenya's regulatory sandbox, but Nyabwengi argued that significant regulatory changes still need to be made to allow Kenya to capitalize on blockchain technology and cryptocurrencies.
Blockchain firm ConsenSys announced that it has been awarded the contract for a cross-border payment project between Thailand and Hong Kong. ConsenSys will lead the second implementation phase of Project Ithanon-Lionrock, a joint initiative to create a cross-border central bank digital currency (CBDC) between the two countries. Initiated in 2019 by the Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT), the aim now is to build a proof-of-concept cross-border corridor between Thailand's Ithanon and Hong Kong's Lionrock networks. This will require a seamless currency conversion between the Thai baht and the Hong Kong dollar.
ConsenSys will use its enterprise Ethereum stack technologies, focusing on prioritizing scalability, security, and interoperability.
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