Headline
▌FIL Breaks $3
Market data shows that FIL has broken through $3, currently trading at $3.01, with a 24-hour increase of 117.2%. Market volatility is high; please manage your risk accordingly.
▌Meta: Will Invest Over $600 Billion in the US by 2028
Meta Platforms stated that it will invest over $600 billion in the US by 2028 to support the expansion of artificial intelligence technologies, infrastructure, and workforce.
On November 8th, Fetch.ai filed a class-action lawsuit against Ocean Protocol, accusing it of misleading the community and improperly handling tokens within the Artificial Intelligence Consortium (ASI). The lawsuit alleges that Ocean transferred approximately 700 million OCEAN tokens, originally promised for community rewards, to a Cayman Islands entity, subsequently converting them into approximately 286 million FET tokens and selling approximately 263 million on the market, causing a drop in the price of FET. Fetch.ai's lawyers stated that Ocean misled the token community and its merger partners, profiting millions of dollars. Ocean Protocol denies the allegations, claiming the lawsuit is merely social media hype. ASI co-founder Goertzel expressed disappointment with Ocean's actions but stated the consortium will continue to advance decentralized AI development.
Previously, Fetch.ai demanded that Ocean Protocol Foundation return $120 million worth of FET tokens to avoid legal disputes. On November 8th, payment infrastructure Pieverse released the tokenomics of its native token, PIEVERSE. PIEVERSE is Pieverse's native utility and governance token, primarily used for reducing transaction fees, staking, participating in governance, and payments. The total supply of PIEVERSE is 1 billion, distributed as follows: Community Development (27.6%), Ecosystem Building and Marketing (27.4%), Team and Advisors (20%), Investors (15%), and the Foundation (10%).
On October 29th, Binance Wallet launched Pieverse's Pre-TGE event. Altcoins Rise Across the Board, FIL Surges Over 100% in 24 Hours. Market data shows that altcoins are generally rising, with the following:
FIL briefly reached a high of $3.973, currently trading at $3.39, a 24-hour increase of 101.2%;
STRK is currently trading at $0.1497, a 24-hour increase of 44.1%;
NEAR is currently trading at $2.85, a 24-hour increase of 40.0%;
AR is currently trading at $7.28, a 24-hour increase of 34.0%;
ZEC is currently trading at $711.67, a 24-hour increase of 32.2%;
MINA is currently trading at $0.2082, a 24-hour increase of 24.5%;
DOT is currently trading at $3.26, a 24-hour increase of 23.5%.
Market volatility is high; please manage your risk carefully. The Ethereum validator queue is surging, with over 1.5 million ETH awaiting staking. Meanwhile, approximately 2.45 million ETH are in the exit queue awaiting exit. Analysts point out that this trend reflects increasing market confidence in Ethereum's long-term prospects, with validators willing to accept delays and risks in exchange for locked funds and rewards, in order to support network security and earn rewards. **Important Economic Developments** Spot gold rose 1.00% intraday, currently trading at $4017.09 per ounce. The US New York Fed's 1-year inflation forecast for October was 3.24%, down from 3.38% previously.
Golden Encyclopedia
▌Understanding Ripple Labs' RLUSD Stablecoin
RLUSD is a stablecoin developed by Ripple Labs, the organization behind the XRP cryptocurrency. RLUSD, or Ripple Labs USD, aims to provide a stable digital currency for trading and transactions. As a stablecoin pegged to the US dollar, 1 RLUSD is equal to 1 US dollar. Each RLUSD maintains a 1:1 peg. These collateralized assets are either US dollar deposits or cash equivalents. On December 10, 2024, RLUSD received regulatory approval. A week later, on December 17, RLUSD was officially launched and listed on cryptocurrency exchanges.
RLUSD works similarly to other major US dollar-pegged stablecoins, allowing individuals and institutions to deposit capital assets such as US dollars to mint each new coin.
RLUSD works similarly to other major US dollar-pegged stablecoins, allowing individuals and institutions to deposit capital assets such as US dollars to mint each new coin.
Cryptocurrencies can be traded on the Ethereum and XRP Ledger blockchains. Ripple's new stablecoin's technology and concept are not inherently new. It is a direct competitor to established players like USDT and USDC. Collateral backing ensures price stability and avoids the volatility issues present in some other cryptocurrencies. This reliability allows businesses and traders to trade away from unpredictable price fluctuations. RLUSD is available on the XRP Ledger and Ethereum blockchains. Ripple has committed to stablecoin audits and transparency, and regularly conducts third-party audits of its collateral reserves alongside monthly financial reports. However, details regarding who will perform the audit process are yet to be determined.