🇦🇷 Why Argentina's new president is good for Bitcoin

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Good Morning!

Argentina has just elected its next president, which is good news for Bitcoin, as he is pro-crypto. In response, Bitcoin's price warmly reacted with a 3% jump.

Following Sam Altman's dramatic departure from OpenAI, his crypto project, Worldcoin, experienced significant volatility, with its price turbulently bouncing up and down.

Let’s dive in. 👇️ 

Markets

Sam Altman’s OpenAI ouster sees rollercoaster Worldcoin price (3 minute read)
Worldcoin (WLD), the token associated with Sam Altman's retina-scanning initiative, experienced significant turbulence recently amidst developments involving Altman's departure from OpenAI and subsequent discussions about his potential return, ultimately resulting in his replacement. The coin reached a high of $2.48 on November 16 before facing a decline that intensified after Altman's departure announcement by OpenAI on November 17, dropping to a low of nearly $1.84. Following these events, WLD exhibited a rebound, surging 12% in the last 24 hours to attain an intraday high of $2.54.

However, it again declined to $2.30 after Emmett Shear took over as CEO, replacing Altman, who co-founded Worldcoin in July. Notably, although Worldcoin is a separate project from OpenAI, WLD's initial recovery was linked to reported efforts by a group of OpenAI executives and investors to reinstate Altman as the CEO which failed.

Solana sees massive surge in DEX trading activity, TVL climbs 42% (3 minute read)
In the last week, the decentralized exchanges Orca and Raydium, key players in the Solana ecosystem, experienced a big surge in trade volume, contributing to a 54% increase in decentralized exchange trading volume on Solana.

This spike propelled Solana's Total Value Locked (TVL) to a 42% increase since the beginning of November, reaching new heights. Concurrently, SOL maintained an uptrend, trading sideways above $60 early on Monday. The data from DeFiLlama revealed that the total trade volume on Solana surpassed the $3 billion mark, marking a record high for the SOL ecosystem.

Javier Milei Wins Argentine Presidency; Bitcoin Gains Nearly 3% (2 minute read)
Javier Milei is set to become the next president of Argentina, as his opponent Sergio Massa conceded on Sunday evening, acknowledging that "Argentines chose another path." With approximately 87% of the votes counted, Milei secured 56% of the tally, while Massa garnered 44%, according to Bloomberg.

Bitcoin, which had traded quietly over the weekend, experienced a late Sunday afternoon surge amid discussions of Milei's strong performance. Following Massa's concession, BTC has risen nearly 3% in the past 24 hours, reaching $37,350. Milei, known for his views on the crypto, previously stated, "We have to understand that the central bank is a scam," and highlighted that bitcoin represents the return of money to its original creator, the private sector.

Tech

Avalanche (AVAX) Gains 10%, But What Is Driving Momentum? (2 minute read)
Avalanche (AVAX), the layer-1 blockchain, has been one of the top performing coins over the past week, continuing its impressive momentum. Over the past 12 hours, AVAX prices surged by almost 10%, reaching $23, surpassing gains in other high-cap altcoins and the broader cryptocurrency market, which saw a 2.3% increase for the day.

The layer-1 high-throughput blockchain has experienced an astounding 80% rise in the last fortnight, fueled by a compelling narrative surrounding its capabilities. Notably, recent announcements, strategic partnerships with major institutions, and a surge in the GameFi and NFT sectors have collectively contributed to AVAX's remarkable 140% gain over the past month. A key aspect of the narrative driving AVAX's success is its emphasis on becoming the standard chain for real-world asset tokenization.

Dydx V3 hit by ‘targeted attack,’ linked to YFI price manipulation (2 minute read)
Over the weekend, an organized attack led to the draining of approximately $9 million from dYdX v3's insurance fund, constituting around 40% of its total v3 funds, to facilitate liquidations. Antonio Juliano, the founder of dYdX, disclosed that the open interest (OI) for YFI, the native token of DeFi protocol Yearn Finance, experienced a substantial spike, soaring from $0.8 million to approximately $67 million.

Notably, YFI was trading at a significantly higher price on dYdX compared to other perpetual trading platforms. Juliano identified a single malicious actor behind this anomaly, pointing to on-chain transactions, and suggested that the same actor had attempted a similar attack on the SUSHI market on dYdX just two weeks prior.

Misc

Van Gogh NFTs sell for millions as tokens moon again (2 minute read)
CryptoSlam.io data indicates that a NFT featuring a rendition of a Van Gogh painting recently changed hands for an impressive $1.3 million, following closely on the heels of another Van Gogh-inspired NFT sale at $1.27 million just a day prior.

Auction records unveil that NFT number 132, a digitized version of the painting, was acquired for 35.9999 BTC or $1,313,635, while NFT number 283 fetched 34.9999 BTC, equivalent to $1,275,612 on the Bitcoin network. These transactions spotlight the thriving market for Van Gogh-inspired NFTs. Notably, in October, Paris' prestigious Musée d'Orsay announced the creation of unique NFTs inspired by Van Gogh's final days.

Aptos Review 2024: The Next Solana Killer? (10+ minute read)
In the pursuit of enhancing scalability in blockchain technology, by 2022, two notable blockchain projects exemplified the competition. Solana, a highly respected protocol, achieved sub-second scalability through its Proof of History consensus engine. In the same period, an emerging layer 1 protocol, Aptos blockchain, often referred to as the "Solana Killer" by crypto enthusiasts, garnered attention for its near-instant transaction times after branching off from Meta (formerly Facebook), setting the stage for a competitive landscape in the blockchain scalability race.

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