WAO ART

Bitget, a Seychelles-based cryptocurrency exchange, has seen a staggering 1600% increase in its African user base, driven by rising crypto adoption. Nigeria is at the forefront of this surge, ranking second globally in crypto adoption, with a 300% increase in copy trading on Bitget over the past two years.

Argentina's tax agency, AFIP, discovered a $20 million cryptocurrency mining rig on a livestock farm in Santa Fe, which claimed to be involved in farming activities. The raid revealed 35 mining rigs, including high-processing video cards and motherboards, but the equipment was not connected to the internet.

Rhodium Encore, a bankrupt crypto miner, received court approval for bidding procedures related to its Texas mining assets. The bidding process is not yet underway, but deadlines have been established, with bids due by November 8.

Australia's ASIC is set to introduce new licensing requirements for cryptocurrency exchanges to enhance regulatory oversight and investor protection by November 2024. The upcoming rules aim to strengthen regulatory oversight and protect investors.

Chinese Bitcoin mining pools have seen a decline in their share of the global hashrate, dropping from nearly 100% between 2015 and 2021 to 55% today. U.S. mining pools have surged to control 40% of the Bitcoin network's hashrate, driven by the migration of miners from China due to regulatory crackdowns.

VeChain recognized as a top player in Europe’s Blockchain IoT market, alongside IBM and Microsoft. Strategic partnerships with Walmart China and BMW enhance VeChain's growth in supply chain and sustainability. Seamless integration of IoT and blockchain improves data collection and compliance for businesses.

Analyst Benjamin Cowen suggests that the ETH/BTC pair is nearing a cycle bottom, indicating Ethereum may stop losing ground against Bitcoin. Despite this, Cowen notes that Bitcoin's dominance is still rising, currently at 57.64%, which could lead to further declines in ETH/BTC.