Ethereum Developers Plan Fusaka Hard Fork for December
Key Crypto Investment Updates
Ethereum's Fusaka Upgrade: Ethereum developers have set a tentative roadmap for the Fusaka upgrade, targeting early December for mainnet activation. The upgrade aims to enhance blockchain scalability by more than doubling blob capacity. Testing will occur on three public test networks in October.
Plasma Blockchain Launch: Plasma is launching its mainnet beta for stablecoins with over $2 billion in liquidity. The network intends to become a backbone for stablecoin transfers using its PlasmaBFT architecture, offering zero-fee USDT transfers at launch.
XRP Liquid Staking Token: Midas and Interop Labs have introduced mXRP, enabling XRP holders to earn up to 8% returns through liquid staking. This product integrates with existing DeFi infrastructure and focuses on yield-bearing strategies.
Internet Computer's AI Focus: Internet Computer (ICP) is enhancing its on-chain AI capabilities, positioning itself as an AI-driven network. This development could shift the developer workflow towards AI-generated applications, fully integrated on-chain.
Market Sentiment Insights
Bearish Sentiment for BlackRock's BTC ETF: The IBIT ETF has shown a positive put-call skew for two months, indicating traders' preference for protective puts amid cautious market sentiment.
Bitcoin Price Dynamics: Bitcoin's price fell over 3% this week, breaking below key support levels. Despite "buy the dip" calls on social media, liquidity trends suggest potential for further decline.
Regulatory Developments
CFTC Stablecoin Initiative: The U.S. Commodity Futures Trading Commission is exploring stablecoin use as tokenized collateral in derivatives markets. This initiative seeks to integrate crypto into the U.S. financial system.
U.S. Treasury Stablecoin Regulations: The U.S. Treasury is advancing regulations for stablecoins under the GENIUS Act, with a current comment window open until October 20 for industry feedback.
