Avalanche Launches Visa Card with Self-Custody Wallet and Crypto Spending

Daily Top Performer — Drift Protocol (DRIFT)

The SPX index was down by 0.05% as investors weigh over the latest corporate earnings reports. Coindesk Indices, an index measuring broader cryptocurrency market performance was down by 0.59%, with Bitcoin and Ether dropping by 0.41% and 1.55%, respectively in the past 24 hours.

Today's top performer is DRIFT, which surged 20.7% following the launch of Big Time's Weekly Challenge #2 - Clockwork Harvest Event.

Drift Protocol (DRIFT), founded in 2021, is a decentralized perpetual futures exchange on Solana, enabling cross-margined trading and virtual price discovery through a vAMM. It allows collateral trading on a permissionless blockchain and includes risk management tools like stop-loss and take-profit orders. Drift Protocol has launched a new prediction market allowing users to bet on whether Max Verstappen will defend his title and win the 2024 F1 Drivers Championship. Currently, the market has a total of $70.63 in bets and 77 shares open, with a liquidity of $2.24K, assigning an 80.40% chance of victory for Verstappen; "Yes" is priced at $0.915 and "No" at $0.307. The protocol has emphasized the importance of using official community channels to avoid scams, providing links to their Discord and Telegram groups. The market is set to resolve on December 9, 2024.

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Talk of the Town

The Avalanche Foundation has launched the Avalanche Card, a Visa crypto card that supports spending stablecoins like USDC, Wrapped AVAX (wAVAX), and staked AVAX (sAVAX). Available in both physical and virtual forms, the card connects to a self-custody wallet with unique addresses per asset, ensuring transactions are not reported to credit bureaus. It will initially be available in Latin America and the Caribbean, excluding certain restricted regions. Offered by Rain Liquidity, the card is not FDIC-insured and emphasizes that cryptocurrencies can lose value. This initiative adds to the growing trend of crypto payment cards.

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Bitcoin Spot ETF Flows

Yesterday, the BTC Spot ETF category saw a total outflow of $122.1 million, with no flow changes in GBTC and all outflows coming from non-GBTC products.

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Airdrop to Watch

Scroll announced its first airdrop, distributing 7% of SCR tokens to reward contributors across various categories. The Community Drop allocates 5.5% of the total supply, rewarding participants for on-chain activities. Additional bonuses are provided for holding ENS names, donating to public goods, or using smart contract wallets. Ecosystem projects and industry contributors, including ZK researchers, developers, and public goods organizations, also receive allocations. Global community organizers, hackathon winners, and translators are recognized for their contributions. The airdrop snapshot was taken on October 19, 2024, with claims starting on October 22 and open for 90 days. Scroll aims to build an inclusive, decentralized ecosystem with global participation. Check Out the Latest Prices, Charts, and Data of SCRUSDT Perp and SCR/USDT Spot Contracts!