GM Explorer,

Ethereum is making waves, hitting $3,200 and surpassing Bank of America’s market cap. Let’s Dive into the latest surge, rising inflationary trends, and Vitalik Buterin’s new concept.

Here’s what we got for you today:

• 🚀 Ethereum hits $3,200!

• 🧱 Around The Block: Michael Saylor’s MicroStrategy Bitcoin investment tops $10 billion in profit.

🚀 Ethereum Hits $3,200!

Ethereum (ETH) hit a major milestone, reaching $3,200 yesterday – the highest since August!

Even more thrilling is that Ether's market cap has shot up to around $383 billion, marking a nearly 5% increase in just 24 hours.

That puts ETH ahead of Bank of America’s market cap by about $40 billion!

What does this all mean?

ETH’s high valuation compared to Bank of America reveals a significant shift in the financial market landscape, driven by the growing adoption of blockchain technology.

Not only are decentralized finance (DeFi) and crypto assets rising in popularity, but their growth is also starting to exceed traditional finance (TradFi).

Even the US SEC is considering approving Ethereum ETF options.🤯

In more exciting news, ETH supply has been increasing quickly over the last seven days, at an inflationary rate of 0.424% a year.

According to data from Ultrasound.money, the current yearly burn rate is about 452,000 ETH.

While the issuance rate is more than double that at 957,000 ETH, resulting in an annual supply increase of 0.42%.

Despite this promising trend, the sentiment among crypto analysts on X is mixed.

But there’s a shared anticipation for further upward price action, with many bold predictions pointing to a potential new all-time high (ATH).

One X user confidently suggested ETH "will most likely breeze through $4k."

Crypto analyst Poseidon posted something similar, but he expects an initial “pullback before the new ATH,” with ETH price exceeding the $4,300 mark.

Meanwhile, Vitalik Buterin recently introduced the concept of “info finance.”

He describes it as a discipline that begins with “a fact that you want to know” and ends with a market that “optimally” elicits that information from market participants.

And encourages prediction markets to gather community insights on future events in a way that offers public expectation without media sensationalism or influence.

For more insights, click here.

🔎 Market Insight

SUI has been a remarkable sensation in this bull market, leaving many wondering how it has achieved such success.

However, a closer look reveals that the signs of its potential have always been present.

• According to an Electric Capital report, SUI has the largest and most rapidly growing Move developer community. (The report was released in July)

• Its Total Value Locked (TVL) ranks in the top eight, surpassing blockchains like Avalanche, Polygon, Near, and Cardano.

• And more notably, 49% of Ethereum's outflows in 2024 have moved to SUI.

For a chain that's only been in operation for one year and four months, SUI has accomplished a lot in a relatively short period of time.

Why is that?

Developers are discovering they can build applications more optimally on SUI than anywhere else, and the process is incredibly easy.

For instance, Blue Fan, which transitioned from Arbitrum, quickly realized that their traders were 20 times more profitable on SUI than on a Layer 2 solution.

🧱 Around The Block

• Michael Saylor’s MicroStrategy Bitcoin investment tops $10 billion in profit.

• Arthur Hayes's wallet makes significant ETH accumulation worth $3.3 million.

• Bitcoin smashes $79K in bullish weekend pump, with $280M bearish bets liquidated.

• Top analyst say Bitcoin is on an unstoppable path and predict Ethereum rallies in the coming weeks.

• SEC Commissioner Mark Uyeda backs Trump's pro-crypto stance as Gensler’s reign nears end.

• Stacks founder Muneeb Ali eyes early December for sBTC upgrade launch.

• a16z crypto says tokens will likely be 'legitimate and lawful' under new regulations.

That's all we've got for you today.

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Catch you soon.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions.