Many new blockchain advancements, both good and bad, have unfolded over the weekend. In fact, today’s news makes you want to sit back, take a deep breath and think through some things.
So,here’s everything that unfolded yesterday.
Solana makes big blockchain advancement
Now blockchain advancements shone brightest in the ETF arena, yesterday with spot Solana funds accumulating their fourth straight day of inflows. In fact they injected $44.48 million on Friday and swelled cumulative totals to $199.2 million, with assets topping $502 million, according to SoSoValue.
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Bitwise Solana ETF (BSOL) surged 4.99% and led the pack. Bitcoin ETFs, meanwhile, recorded $191.6 million in outflows as part of a profit-taking wave totaling $488.43 million Thursday and $470.71 million prior.
Ether funds dropped $98.2 million, trimming inflows to $14.37 billion after shedding $184.3 million and $81.4 million earlier in the week. These shifts portray how blockchain advancements take place in diversified strategies, drawing millions to platforms like Coinbase for seamless entry into the crypto ecosystem.
Bitcoin also gets to wear the crown
Speaking of blockchain advancements, Bitcoin wrapped a red October but charged into November, its powerhouse month, boasting a 42.51% average gain since 2013, per CoinGlass.
Analysts like 10x Research’s Markus Thielen highlight blending seasonal magic with macro boosts, such as looming Fed rate cuts and U.S.-China trade pacts, potentially catapulting BTC past $160,000.
Crypto detective warns Garden Finance Heist maybe an inside job
The crypto world has not been without bad news either.
Renowned investigator ZachXBT not just claims but has proof that the major Garden Finance $11 million exploit on October 30 is likely an inside job.
You heard that right!
Now the finance company suffered a seismic attack halting operations and scattering losses across Ethereum, Solana, Arbitrum, and more and the app pretty much went dark.
ZachXBT swiftly intervened, unveiling evidence of an inside job linked to the firm’s core team. He dismissed the “solver compromise” excuse as internal sabotage. This revelation, issued alongside Garden’s 17:29 UTC statement, has reignited scrutiny on illicit fund flows as well.
So if you thought you’re having a bad weekend, Garden Finance is having it much worse.
And that wraps up blockchain advancements for today. To stay updated as blockchain and crypto updates take place, stay tuned to Coin Medium and give us a follow on our socials.
See you next time!
