Covey

Two contenders, one question: Which crypto has the better shot at flipping your portfolio by 2025?
• Solana (SOL): Up 37.97% in a month, with bullish indicators & key resistance at $253. Momentum backed by rapid transactions & ecosystem growth.
• Toncoin (TON): Climbing 8% this week, approaching $6.17 resistance, fueled by innovative tech & community strength.

Covey’s Take:
Both SOL and TON present compelling narratives, but they cater to different strengths in the market.
• Solana (SOL): Its rapid transaction speeds, expansive DeFi network, and surging adoption make it a standout in the Layer-1 space. SOL’s steady growth and ability to hit key resistance levels demonstrate strong market confidence. If it maintains this momentum, it could further solidify its position as a top-tier crypto asset, especially with its focus on scalability and usability. However, overbought conditions might signal a short-term cooldown, offering strategic entry points for savvy investors.
• Toncoin (TON): A relative newcomer compared to SOL, TON leverages Telegram’s massive user base and its seamless integration of Web3 tools. Its consistent climb, supported by balanced momentum indicators, suggests it’s gearing up for a breakout. TON’s robust community and innovative use cases could position it as a leading player in decentralized communication and payments, offering a unique edge over competitors.

The verdict? It’s not about picking sides—it’s about diversifying wisely. SOL offers stability and proven performance, while TON brings the excitement of untapped potential and niche dominance. Keeping a watchful eye on resistance levels and overall market trends for both could be the key to maximizing returns by 2025.

CryptoPunks are back on top, raking in $19.32M in sales this week—a massive 843.95% spike in volume. 🚀 Known as the OGs of NFTs, they’ve reaffirmed their status as the go-to blue-chip collection. Meanwhile, Bitcoin Puppets followed with $6.92M, reflecting a 223.28% growth. 🖼💰

Covey’s analysis: The NFT space thrives on scarcity and legacy value. CryptoPunks’ resurgence isn’t just nostalgia—it’s a case study in how cultural significance and first-mover advantage solidify long-term value. As institutional interest grows in digital art, these collections set the standard for what it means to be a blue-chip NFT.

Goldman Sachs just dropped $718M into Bitcoin ETFs, marking a major step forward in institutional adoption of crypto. 💸🔍

With substantial stakes in BlackRock’s iShares Bitcoin Trust and Grayscale, Goldman’s strategic move reflects growing confidence in Bitcoin’s long-term value. This investment aligns with Bitcoin's recent rally to nearly $90K and its dominance soaring past 59%.

Covey's analysis: This commitment from legacy institutions isn’t merely about short-term gains. Goldman’s approach underscores a broader shift where Bitcoin is evolving from a speculative asset to a cornerstone of institutional portfolios. This level of investment signals to the market that crypto is increasingly seen as a serious, viable alternative in a diversified strategy.

🎉 We’re thrilled to announce that Covey has officially joined QUDO as advisors and invested in their seed round! 🎉

Our partnership with QUDO brings our expertise to the next level of gaming on the TELOS blockchain, where players earn rewards for both their time and performance, while developers gain access to a Web3-ready ecosystem. Together, we’re here to make gaming more rewarding for players and empowering for indie developers.

What is QUDO?

QUDO is a revolutionary gaming token on the TELOS blockchain that rewards players not only for playing but also for how well they play. With QUDO, players can use their rewards for in-game purchases. For developers, QUDO offers access to B2B-affiliated services tailored to support gaming businesses and services, and an easy transition to Web3 via the QUDO SDK for Unity, enabling Web3 features in less than 30 minutes!

Key Highlights of QUDO:

• Cross-Game Token: Earn QUDO rewards across a range of games.
• Interoperable Gaming Assets: Players can create and carry assets between games.
• Circular Economy: Built to sustain a dynamic flow of rewards between games and players.
• Unity SDK: Fast and seamless Web3 integration for game studios.

🌐 Ready to explore this gaming revolution with us? Dive into QUDO today and help us build the future of Web3 gaming!

👉 https://qudo.io/

🚀 Coming to Asia! Covey is teaming up with @consensus_hk – the most influential event in Web3! 🌏

We’ve got exclusive discounts just for you:
👉 Visit: go.coindesk.com/covey
👉 Use code COVEYTECH15 at checkout for your special discount!

Don’t miss this chance to be part of Web3’s biggest event. See you there! 🎟️

https://x.com/coveynetwork/status/1853744795463602360?s=46&t=bjWJU13CKMuHH7RgxlDDLQ

Bitcoin Faces Turbulence Amid Election Uncertainty: What Traders Need to Know


Bitcoin's price dips to $67,432, stirring anxiety ahead of the U.S. elections. With Harris leading in the polls, market volatility spikes as traders offload assets to hedge risks. 🌀 But what does this mean for BTC's trajectory? Here’s Covey's take:

1️⃣ Price Trends & Volatility: After peaking at $69,500, BTC's drop aligns with market jitters as election outcomes loom. Interestingly, a Trump win could flip the script, driving Bitcoin to new highs. 📊

2️⃣ Historical Context: Election weeks have historically been bullish for Bitcoin, regardless of the party in power. Will history repeat, or is this time different? 🤔

3️⃣ Beyond Elections: The Federal Reserve’s upcoming interest rate decision could add another layer of complexity. With tightening policies potentially squeezing liquidity, traders should watch closely.

As always, volatility is both a challenge and an opportunity. This week could set the stage for Bitcoin’s next big move. Trade cautiously but stay alert for potential rebounds! 🚀

Ethereum Layer 2 Networks Propel Growth, Driving Record Transaction Demand & Ecosystem Sustainability

Ethereum's Layer 2 networks are proving their worth—driving unprecedented transaction demand and reinforcing Ethereum's financial ecosystem. 📈

Recent data shows that blobs sent to Ethereum have spiked to 21,497 in just 3 days. Key drivers? The Dencun update's cost-efficiency and the robust adoption of L2 platforms like Arbitrum, OP Mainnet, and Base.

Here’s why this is big:
1️⃣ Higher Transaction Volumes: Dencun has made L2 transactions cheaper, sparking a record number of blobs per block and validating L2’s role in scaling Ethereum.
2️⃣ Sustainable Growth for ETH: As L2 networks pay fees to Ethereum, they create a non-parasitic revenue stream, burning blob fees and reducing ETH supply. This hints at a stronger ecosystem and mitigates Ethereum’s negative base-layer cash flow.
3️⃣ User Interest = Value: L2s have brought in a net inflow of $6.1 billion, showing clear user demand and a commitment to Ethereum’s infrastructure.

In the race for blockchain dominance, affordability and scalability are key. With ETH around $2,510 and L2 adoption soaring, Ethereum’s future looks poised for sustained growth. 🌐

🚀 Covey Joins Forces with Pinkmoon Studios as Advisors!

We are thrilled to announce that Covey has been officially onboarded as advisors for Pinkmoon Studios and KMON: World of Kogaea, an innovative GameFi project powered by the Mythos Engine! 🎉

Why KMON: World of Kogaea?

KMON: World of Kogaea is an immersive MMORPG set in a dynamic world where players explore, battle, and collect unique digital pets called Kryptomons. It brings a fresh twist to the gaming landscape by blending elements of beloved classics like World of Warcraft and Pokémon, built with the transformative power of blockchain technology. KMON allows players to truly own in-game assets and interact in a player-driven economy. This immersive world combines strategic gameplay, real-time interactions, and an evolving story where players nurture and train their Kryptomons, engaging in battles and quests that shape the game’s universe.

What is Mythos Engine?

The Mythos Engine is Pinkmoon Studio’s proprietary no-code MMO development platform, enabling developers to create large-scale, blockchain-enabled MMOs efficiently and cost-effectively. With pre-built frameworks, the Mythos Engine streamlines game creation, eliminating the need for extensive coding, and allows developers to focus on gameplay and player engagement. KMON: World of Kogaea is one of the flagship games built using the Mythos Engine, bringing blockchain technology and player-owned economies into an immersive MMO experience.

What Does This Mean for Covey?

As advisors, Covey will provide strategic insights and guidance to help Pinkmoon Studios and KMON: World of Kogaea navigate the evolving GameFi landscape. Our mission is to ensure that the game delivers a truly engaging, transparent, and community-driven experience for all players.

Join the Adventure!

The community plays a crucial role in shaping the future of KMON: World of Kogaea. As we move forward, we invite all trainers to share their feedback and ideas to co-create this exciting universe. Your input is invaluable to us!

Stay tuned for more updates on this incredible journey, and don’t forget to follow PinkMoon Studio and Kryptomon for the latest news and announcements! 🔗

https://x.com/CoveyNetwork/status/1851988371922362703

📢 New Advisory Announcement!

We’re thrilled to share that Covey has officially been onboarded as advisors for Daosis!

Daosis is a comprehensive ecosystem on the Oasis Protocol, featuring a launchpad for emerging projects, a powerful token minter, mini IDOs for liquidity funding, and a decentralized governance model that puts power in the hands of its community.

🔹 What does Daosis bring?
• Launchpad for project incubation and secure, transparent fundraising.
• Token Minter that simplifies token creation for new projects.
• Mini IDOs to ensure sufficient liquidity for tokens.
• Decentralized Governance where community voices guide the platform’s direction.
• Innovative Revenue Model supporting growth, community rewards, and a deflationary mechanism for $DSS tokens.

With Covey’s expertise, we’ll be driving strategic growth, innovation, and community empowerment for Daosis.

Join us in this journey to build a thriving, user-driven ecosystem! 🌐

Stay tuned for more updates, and get involved with Daosis today!

🚀 Uniswap Unveils Permissionless Cross-Chain Bridging—A Game-Changer for the Multi-Chain Future 🌐

Uniswap is once again leading the charge in decentralized finance with the launch of its permissionless cross-chain bridging feature. This breakthrough allows users to bridge assets across 9 different blockchain networks directly from the Uniswap Wallet and Interface. Supported by the decentralized Across Protocol, this new tool offers speed, security, and ease, making it a revolutionary step in the multi-chain space.

Gone are the days of complex and risky asset transfers across networks—users no longer need to rely on third-party services with fluctuating security guarantees. Now, they can enjoy seamless, decentralized bridging, where transfers happen within seconds rather than minutes. 🚀

The supported networks include ZKsync, Polygon, Arbitrum, OP Mainnet, Base, Ethereum, World Chain, Zora, and Blast. This new tool fits perfectly within Uniswap’s vision to innovate in the multi-chain sector, further solidifying their position as a decentralized exchange leader.

💬 Covey Analysis: Uniswap’s permissionless cross-chain bridging sets a new standard for the industry. By offering a user-friendly, secure, and efficient way to bridge assets across multiple chains, Uniswap is eliminating barriers to interoperability in DeFi. This is more than just a technical upgrade—it's a glimpse into the future of decentralized finance, where users can interact confidently across networks without sacrificing security or speed. Uniswap continues to evolve, and we can’t wait to see how this shapes the multi-chain space.

🚀 Covey Partners with and Invests in MemesLab!

We’re thrilled to announce that Covey has officially partnered with and invested in MemesLab, a dynamic Web2 + Web3 platform that’s all about having fun and earning rewards! 🌟 Backed and incubated by Notcoin, MemesLab is set to make waves in the market.

Here’s what you need to know about MemesLab:

1️⃣ Play & Earn Airdrop Points
Every interaction in MemesLab’s game ecosystem earns you valuable Airdrop points. Keep an eye out for future announcements detailing how these points will impact the upcoming Airdrop! 💸

2️⃣ Web2 + Web3 Integration
MemesLab isn’t just a game; it’s a full-scale ecosystem merging the best of Web2 with Web3. Each phase of development brings more innovative options for players and users.

3️⃣ Crazy Growth Potential
With a highly experienced team, strong backers like Covey, and incubation support from Notcoin, MemesLab is poised to explode in the market. 🚀

4️⃣ Community First
MemesLab’s community is at the heart of everything! Join our global chats, connect with like-minded people, and become part of the MemesLab family. ❤️

⚠️ Don’t fall for scams—always follow official links!

Global Chat: https://t.center/memeslabchat
CIS Chat: https://t.center/memeslabchatcis
Discord: https://discord.gg/memeslab
Official Twitter: https://x.com/memeslabxyz
Announcements: https://t.center/memeslabxyz
Join MemesLab today and let’s build the future of fun together! 💥

https://x.com/coveynetwork/status/1849072597209698643?s=46&t=AeGvnAm34YKcfxuo0cUKgA

🚀 BlackRock’s $26B Bitcoin ETF Breaks Records – Is This the Future of Institutional Crypto?

Wall Street’s appetite for Bitcoin is undeniable as BlackRock’s IBIT continues to shatter expectations. With $26B in inflows and over $1.1B added just last week, BlackRock’s spot Bitcoin ETF surged into the top 2% of all U.S. ETFs and became the third largest ETF in year-to-date flows. 📈

The fastest growing ETF in financial history 🙌, this fund highlights the increasing demand for Bitcoin in mainstream portfolios, dwarfing Ethereum ETFs and driving policy discussions on the future of crypto as a global asset.

💬 Covey Analysis: The rapid success of BlackRock’s Bitcoin ETF solidifies BTC’s status as an institutional favorite, reshaping the investment landscape. With its unmatched growth, Bitcoin is no longer a niche asset—it’s becoming a pillar of modern finance. While Ethereum may catch up, BTC’s dominance is undeniable.

🚀 TRON Sees 25% USDT Transfer Growth: Is This the Future of Stablecoins?

TRON is making headlines with a 25% year-over-year increase in USDT transfers, reaching a whopping $424 billion in September 2024 alone. Known for low fees and speedy transactions, TRON is positioning itself as a top choice for stablecoin users globally. 🌍💸

As demand for stablecoins like USDT continues to rise, TRON's success signals a broader trend toward more efficient, low-cost transfer networks. With $4 billion in projected revenue and a strategic focus on meme tokens, TRON’s network is rapidly expanding its influence in the crypto ecosystem.

💬 Covey Analysis: TRON’s rise in USDT transactions highlights a major shift in the crypto landscape—users are increasingly seeking speed and cost-efficiency, and TRON is delivering. Stablecoins play a critical role in mitigating market risk, and TRON’s growth proves the value of seamless transfer networks. As always, Covey sees this as part of the larger movement where blockchain tech reshapes global financial systems. Keep an eye on TRON—it’s just getting started!

🚀 Ripple Partners with Key Exchanges for RLUSD Stablecoin Launch! 🌐

Ripple ($RLUSD) is set to launch its USD-pegged stablecoin, partnering with top exchanges like Uphold, Bitstamp, MoonPay, and more. Once NYDFS approval is secured, RLUSD will be available globally, aiming to revolutionize international payments with deep liquidity and strong institutional backing.

Ripple’s CEO envisions RLUSD as the “gold standard” for stablecoins, offering enhanced cross-border payment solutions and compliance with a robust legal framework. The stablecoin is currently in private beta on both the XRP Ledger and Ethereum networks.

💬 Covey Analysis: Ripple's RLUSD could transform enterprise-level stablecoins with its focus on regulatory compliance, deep liquidity, and reliable cross-border transactions. Partnering with key exchanges and market makers like Keyrock shows a commitment to both innovation and scalability. As always, Ripple's developments will be ones to watch in the evolving world of stablecoins!

🎮 Ubisoft Enters Web3 with Champions Tactics: Grimoria Chronicles!

On October 23rd, Ubisoft officially launches its first Web3 game, powered by Oasys blockchain. This tactical RPG isn’t just about strategy—it’s about true digital ownership, allowing players to fully own their in-game champions and assets in a way never possible before. 🔥

🛠 Key Features:

Players can create their dream teams from 75,000 unique champions and customize them using the innovative Forge system.
It’s all about PvP battles where strategy and ownership are key, giving players real value for their digital assets.

🎙 According to the game’s executive producer, Sylvain Loe-Mie, Web3 tech isn’t just a gimmick: it empowers players with meaningful control over their digital items, strengthening their bond with the game and fostering long-term engagement.

💡 Covey Analysis: Ubisoft’s leap into Web3 is a bold, forward-thinking move. By integrating digital collectibles with blockchain technology, they’re not just enhancing gameplay—they’re creating a sustainable digital economy where ownership matters. While market volatility is a concern, Covey believes Ubisoft’s commitment to longevity and player-first design will help balance the risks. This signals a new era of gaming, one where strategy meets true ownership, and we’re excited to see how this unfolds in the broader GameFi space.