💪Bitcoin Dominance Tags 30-Month High

TLDR BTC is outperforming the broader crypto markets amid the 15th anniversary of the Bitcoin whitepaper's publications. BTC is up more than 100% in 1.5 years, representing more than 51% of the combined cryptocurrency market cap for the first time since April 2021.

SO WHAT Sophisticated investors are backing Bitcoin's spot ETF, halving, and non-correlated asset narratives, with inflows to institutional Bitcoin products also tagging an 18-month high.

READ MORE: BTC Bulls On Parade Amid 15th Anniversary of Bitcoin Whitepaper

TLDR Andreessen Horowitz (A16z) plans to raise $3.4B for a new fund investing in early and seed stage projects next year. The news was reported by Axios, with the outlet stating some of the funds will trickle into a16z's "sector-specific vehicles."

SO WHAT A16z is the largest VC firm investing in the crypto industry, raising $4.5B for a crypto fund last May. However, A16z's co-founder, Marc Andreessen, conspicuously neglected to mention web3 in his recent "Techno-Optimist Manifesto" essay.

Read More: Andreessen Horowitz Plans to Launch a $3.4B Fund, Axios Says

TLDR Snowtrace, the most popular Avalanche block explorer, will retire its Etherscan-powered platform by the end of November. Snowtrace will adopt Avascan, an Avalanche-native block explorer, moving forward.

SO WHAT Avalanche celebrated the coming upgrade, emphasizing that Avascan will allow Snowtrace to support queries across Avalanche's entire ecosystem, including subnets.

READ MORE: Top Avalanche Block Explorer Snowtrace Is Abandoning Etherscan

TLDR Unibot, the second-most popular Telegram trading bot by daily users, was exploited for $600,000. The hack's perpetrator was able to steal assets from any wallet actively that did not revoke permissions for Unibot's contract.

SO WHAT The news is the latest example of the risks associated with Telegram trading bots, which require users to share their private keys. Maestro, a rival trading bot, suffered a hack last week, while Banana Gun executed a disastrous token launch last month.

Read More: Hacker Ransacks $600,000 From Popular Telegram Trading Bot, Unibot

TLDR GameFi assets are rallying, with the sector adding 7% to its combined market cap in 24 hours. Axie Infinity's AXS and SLP tokens bounced 28% and 62% in one week respectively, with many other prominent GameFi projects also boasting double-digit gains.

SO WHAT GameFi tokens were among the hardest by the recent crypto bear trend, with many of the sector's leading assets by market cap remaining down more than 90% from all-time highs. However, whether the sector's recent rebound can translate into a long-term recovery remains to be seen.

Read More: Axie Infinity Tokens Lead GameFi Rally

TLDR Nine cross-chain bridging protocols have teamed up to call for open standards for interoperability protocols. The post advocates for the adoption of the ERC-7281 standard, and criticizes LayerZero, a rival bridging project, for launching a stETH bridge without support from the token's issuer, Lido.

SO WHAT The manifesto takes aim at "proprietary" bridging standards like LayerZero's Omnichain Fungible Tokens for driving liquidity fragmentation, introducing smart contract risk, and undermining token-issuer governance.

Read More: Bridging Protocols Advocate For Open Tech Standards And Condemn LayerZero

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