According to BlockBeats, on November 4, financial giants Citibank and Fidelity Investments announced the development of a proof-of-concept for a digital foreign exchange (FX) swap aimed at facilitating transactions within on-chain money market funds (MMFs). This innovative concept will be showcased at the Singapore FinTech Festival from November 6 to 8, demonstrating how investors can settle multi-asset positions in real-time. The initiative will also enable investors to access higher yields from foreign currency cash funds by investing in money market funds denominated in other currencies, thereby diversifying their portfolios. This was highlighted in an announcement made on Monday. Citibank and Fidelity developed this proof-of-concept under the Monetary Authority of Singapore's (MAS) "Project Guardian," which focuses on advancing tokenization as a common standard. Tokenization refers to the process of converting financial instruments into digital assets for on-chain trading, a method being explored by many traditional financial institutions to enhance the efficiency of global financial markets.

The post New Gemini Multisig Wallet Accumulates ~$113M Worth Altcoins! appeared first on Coinpedia Fintech News A new Gemini multisig custody wallet that was created 18 days ago has recently accumulated 4 different altcoins worth millions. Reportedly, a Gemini multisig custody wallet “0xc96” has recently withdrawn 42,000 Ethereum (ETH) tokens worth $103.8 million, 350,000 Chainlink (LINK)... source: https://coinpedia.org/crypto-live-news/new-gemini-multisig-wallet-accumulates-113m-worth-altcoins/

Solana hit a new all-time high in monthly active addresses in October, exceeding 123 million. Data shows that the number of unique addresses signing transactions on Solana has increased by more than 42% from September's figures. In January of this year, the network had less than 12.7 million active addresses. Analysts say Solana's recent surge in activity is driven by the Memecoin boom on the network, including support from platforms such as Pump.fun and decentralized exchange Raydium, both of which have experienced strong activity in the past month. In addition, a16z's "State of Cryptocurrency" report in October showed that Solana had more than 100 million monthly active addresses, while Ethereum and other EVM chains had only about 57 million, indicating higher user engagement on Solana. (The Block)

Real Vision analyst Jamie Coutts says that the stage is being set for a crypto bull market as multiple indicators turn bullish. On the social media platform X, Coutts says nearly every metric he uses to measure the health of the Bitcoin market cycle is no longer in “overheated” territory, boding well for BTC. “Over […] The post ‘The Stage Is Set’ – Real Vision Analyst Jamie Coutts Says Several... source: https://dailyhodl.com/2024/11/04/the-stage-is-set-real-vision-analyst-jamie-coutts-says-several-metrics-flashing-green-for-bitcoin/

American cryptocurrency exchange Kraken has announced the launch of a new service it hopes will help entrench its Australian presence. source: https://www.cryptopolitan.com/kraken-courts-australia-crypto-derivatives/

CZ responded to Sun Yuchen on X: "Thanks for the support, this is recognition from someone who runs two competing exchanges. We should work to reduce such "quote attacks" in the industry. Bitcoin has never paid any listing fees. Focus on projects, not exchanges." Previously, Sun Yuchen said that Binance never asked him for listing fees, but Coinbase asked him to pay 500 million TRX and deposit $250 million in BTC for custody.

Onchain data shows that Solana had over 123 million active addresses on the network last month, reaching its highest level. source: https://www.theblock.co/post/324273/solana-sees-record-high-monthly-active-addresses?utm_source=rss&utm_medium=rss

The post Why the Crypto Market Is Down Today? U.S Election Uncertainty Rocks BTC Price appeared first on Coinpedia Fintech News The cryptocurrency market, led by Bitcoin (BTC), closed the first week of November with a short-term bearish outlook. More traders have feared the anticipated crypto volatility amid this week’s conclusion of the 2024 U.S. election and potential Fed rate cuts. The... source: https://coinpedia.org/uncategorized/why-the-crypto-market-is-down-today-u-s-election-uncertainty-rocks-btc-price/

Nvidia is set to replace Intel in the Dow Jones Industrial Average, highlighting a shift in the semiconductor industry as Intel struggles with declining performance. The post Nvidia Set to Replace Intel in Dow Jones Industrial Average; INTC Down 50%+ in 2024 appeared first on Tokenist. source: https://tokenist.com/nvidia-set-to-replace-intel-in-dow-jones-industrial-average-intc-down-50-in-2024/?utm_source=rss&utm_medium=rss&utm_campaign=nvidia-set-to-replace-intel-in-dow-jones-industrial-average-intc-down-50-in-2024