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Crypto markets are known for their ups and downs, but if you take a closer look, certain patterns begin to emerge. One of the most talked-about is “Uptober” — the idea that October often brings a boost in crypto prices. It’s become a bit of a tradition for traders to watch and speculate around this time each year. Let’s take a closer look at what makes 'Uptober' so interesting.

### The Meaning of “Uptober”

For those unfamiliar, “Uptober” combines “up” and “October” and refers to the historical trend where Bitcoin, and often other major cryptocurrencies, experience a price surge in October.

October is typically a strong month for BTC, with gains in 9 out of the last 11 years, excluding the current year of 2024. The only exceptions were in 2014 and 2018, when BTC recorded losses. In the other years, October consistently delivered solid gains for the leading crypto asset. Below, you’ll find a table from Coinglass outlining BTC’s price movements by month, starting from 2013.

![table btc moves.png](/uploads/table_btc_moves_0f8de48e89.png)


### Other Months

November and December also tend to bring favorable results for Bitcoin, earning them the nicknames “Moonvember” and “Bullcember” due to historical price increases. Another standout is February, which has only seen negative results twice in the last decade — 2014 and 2020 — highlighting its overall positive track record.

In contrast, September has typically been a challenging period for BTC. While it posted positive results in both 2023 and 2024, historically it has been one of the more difficult months, with only 4 out of the last 12 years showing gains. This trend has led to terms like “Redtember” or “Rektember” in the crypto community. August follows a similar pattern, with just 4 positive years in the last 12, reinforcing its reputation as a tough month for crypto investors.

When looking at median performance, October stands out as the best-performing month, with an average increase of +21.20%, making “Uptober” a fitting label. In contrast, August has the lowest median performance, with an average loss of -8.04%. These trends highlight October's significance in the crypto calendar and provide insight into potential market expectations.

These patterns highlight the significance of October in the crypto calendar and offer insights into potential market behavior.

### Current October Trends

This year, positive market sentiment picked up following the Federal Reserve's interest rate cut, sparking a surge in the value of various meme coins. On September 27, more than $400 million flowed into spot Bitcoin ETFs after a prolonged period of stagnation. QCP’s market analysis highlighted strong perpetual funding as well. 

One possible reason for this uptick is that October often brings key market announcements, coming after the slower summer period but well ahead of the holiday season. This year has already seen significant developments, including PayPal’s announcement that merchants can now buy, hold, and sell cryptocurrencies. PayPal, which has facilitated peer-to-peer crypto transfers for years, launched its own stablecoin, PYUSD, in 2023, further driving adoption.

### Summing Up

As October unfolds, the crypto community is filled with anticipation, given the historical trend of “Uptober”, which often signals price increases. The combination of past performance and current market sentiment suggests that this month could present potential opportunities for investors.

However, it is important to remain cautious and conduct thorough research before making any investment decisions. Utilizing our [DEX analytics tool](https://whattofarm.io) can provide valuable insights and help investors navigate the evolving landscape effectively, ensuring they make well-informed choices during this pivotal time.

**Please note, the views expressed in this article are not financial advice. It is essential to conduct your own research before making any investment decisions*

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Navigating Uptober

**Quick Take:**

- Polygon transitioned from the MATIC token to POL, marking a major milestone in its 2.0 roadmap.
- POL enhances fee generation with data availability and decentralized sequencing, features a 2% annual emission rate, and is set to play a central role in Polygon's expanded ecosystem.
- Polygon 2.0 aims to create an interconnected ecosystem of multiple chains with a single bridge, facilitating seamless interoperability.
- The AggLayer is designed to unify Layer 1 and Layer 2 chains, simplify cross-chain transactions, and bring uniform cryptographic security.

On September 4, 2024, following a year of community-driven discussions and consensus, Polygon successfully transitioned from its original MATIC token to POL, now the native token of its network. This migration represents a pivotal step in the Polygon 2.0 roadmap, which aims to transform Polygon into a unified, interconnected ecosystem.

Beyond upgrading the native token for the Polygon PoS network, the shift to POL will expand its utility in future phases, powering Polygon’s vision of an ever-growing network of aggregated blockchains and enhancing scalability across the entire ecosystem.

Today, let's dive into the details of the MATIC to POL migration and explore Polygon's broader vision for its future as a multi-chain network.

### What is POL and Its Key Features

The upgraded POL token introduces new features and a "hyperproductive" system as described by CEO Marc Boiron. Unlike its predecessor MATIC, which mainly earned fees from gas and staking, POL expands fee generation opportunities by incorporating methods like ensuring data availability and decentralizing sequencing.

POL also presents a new emission model with a 2% annual rate, distributed between validators and the community treasury. Validators will benefit from consistent rewards to encourage network participation, while the treasury will support growth initiatives, such as grants, to broaden the ecosystem. This model overcomes a limitation of MATIC, which was constrained by the burning of update keys. POL offers enhanced control over token usage and future development.

As POL progresses, it will be integrated into the broader Polygon ecosystem, strengthening the security of chains within the Polygon aggregated network, known as the AggLayer. The AggLayer aims to create a unified network of chains, facilitating fast and secure cross-chain transactions. With Polygon 2.0's evolution, POL is expected to play a key role in connecting various chains and supporting the network's expansion.

### Current State Of The Migration

In just over a week, more than 7 billion tokens have successfully migrated to POL, accounting for over 70% of the total supply. The market cap of POL has quickly surpassed $2.64 billion, with daily migrations ranging from 5 million to 5 billion tokens. Meanwhile, over 3.2 billion MATIC tokens remain in circulation, holding a market cap of just over $1.21 billion at the time of writing. This rapid migration reflects the community's confidence in the transition and the growing momentum behind POL as the new native token.

### The AggLayer

Earlier, we introduced the concept of the AggLayer, and now it's time to explore it more deeply. The Aggregation Layer (AggLayer) is a key component of the Polygon 2.0 vision that addresses blockchain fragmentation by providing a decentralized protocol acting as a unified bridge for interoperable Layer 1 and Layer 2 chains. It allows sovereign chains to securely share liquidity, users, and state, aiming to create a seamless experience across multiple chains as if interacting with a single one. This approach has the potential to significantly enhance the user experience.

As Polygon envisions it, “In its endstate, the AggLayer will provide a common language for secure, atomic interoperability among heterogeneous chains.” In this context, "atomic" refers to transactions that must be fully completed across all chains or canceled entirely, ensuring security and consistency. This guarantees that users won’t experience partial failures or incomplete transactions when moving assets or data across chains, reinforcing the reliability of cross-chain interactions.

### How It Works

In most multichain Layer 2 ecosystems, transferring assets between chains typically involves multiple bridges connecting each chain to Ethereum. From Ethereum’s perspective, each rollup is essentially a smart contract containing a state root and a verifier to monitor assets. To move assets between chains without third-party bridging services, users often have to withdraw to Ethereum, which can lead to delays — especially on optimistic chains, where a withdrawal could take up to seven days.

The AggLayer aims to change this by using a single bridge contract on Ethereum for all connected chains. Instead of multiple bridges, Ethereum interacts with just one contract, while each chain keeps a local copy of the bridge root. This allows for faster cross-chain transactions without needing to withdraw to Ethereum, making the process simpler and reducing the security risks of using third-party bridges. Additionally, the AggLayer includes a bridgeAndCall() library that lets developers not only transfer assets but also trigger actions on other chains once the assets arrive, streamlining cross-chain interactions for users.

Another crucial element of the AggLayer is its use of Zero Knowledge (ZK) technology. At its core, the AggLayer aggregates ZK proofs from all connected chains, ensuring the security of cross-chain transactions. By leveraging the cryptographic strength of ZK proofs, the AggLayer allows chains within the network to maintain their sovereignty and modularity, all while offering the seamless user experience typically associated with monolithic chains. This combination of decentralization and interoperability sets the foundation for a secure and efficient multi-chain ecosystem.

### Understanding Aggregated Blockchains

Polygon describes Aggregated blockchains as a crucial evolution in blockchain design, moving beyond the limitations of monolithic and modular chains. Initially, monolithic chains handled all aspects of consensus, data availability, and execution within a single ecosystem. While these integrated systems offered unified interoperability, they faced significant limitations. As they scaled, validators required more hardware, leading to centralization and reduced security. Performance issues like state bloat and contention also arose. Moreover, these chains lacked flexibility and customizability for participants.

In response, modular architectures were developed to allow multiple chains to operate independently and in parallel, each maintaining its own sovereignty. This approach improved scalability and design flexibility. However, it also led to fragmented liquidity and user bases, creating inefficiencies in bridging or compromising chain sovereignty.

Aggregation aims to resolve these challenges by merging the advantages of modular architectures — sovereignty and scalability — with the unified liquidity and user experience of monolithic systems. This synthesis creates a more cohesive and efficient multi-chain environment.

### Summing Up

The transition from MATIC to POL marks a significant advancement for Polygon’s network, enhancing both functionality and scalability. Central to Polygon 2.0, the AggLayer addresses blockchain fragmentation by facilitating seamless interoperability among Layer 1 and Layer 2 chains. By overcoming the limitations of both monolithic and modular designs, Aggregation combines the benefits of each, creating a unified and efficient multi-chain ecosystem. This evolution has the potential to not only improve the user experience but also position Polygon for future growth and innovation.

However, while POL’s increased functionality and new emission model offer substantial benefits, it is important to consider potential trade-offs. The expanded capabilities of POL may grant the Polygon team greater control compared to the previous system where keys were burned. Additionally, as the modular architecture is still in its early stages, only time will reveal how effectively the Aggregated approach will integrate and perform in practice. The ongoing evolution of the ecosystem will depend on balancing innovation with core blockchain principles.

Overall, Polygon’s shift towards a more interconnected and scalable framework represents a bold step forward. The coming months and years will be crucial in assessing the real-world impacts of these changes and the effectiveness of the Aggregation model in shaping the future of multi-chain networks.

Right img.png

How the MATIC to POL Shift and the AggLayer Are Shaping the Future

Polygon 2.0

Ever wondered how new improvements make their way into Ethereum? Today, let’s dive into how proposals are made, discussed, and eventually become part of the Ethereum ecosystem — everything you need to know, all in one place.


### So, How Does Ethereum Evolve?

Ethereum’s development process is modeled after Bitcoin’s. While Bitcoin uses BIPs (Bitcoin Improvement Proposals), Ethereum has EIPs (Ethereum Improvement Proposals). These documents outline proposed enhancements to the network, reflecting Satoshi Nakamoto’s influence.

Here’s how it works: If you want to propose an improvement to Ethereum, you go to the dedicated forum at ethresear.ch and write a blog post outlining your idea. Anyone can submit a proposal — there are no restrictions, and no formal format is required. Generally, these proposals come from researchers within the Ethereum community or development teams.

Once a post is up, it’s discussed by the researcher community. They first tackle a crucial question: Should this proposal be integrated into the Ethereum protocol, or is it better suited as a separate product? Most proposals end up as products. If you browse the forum, you’ll find a wealth of innovative ideas for decentralized technologies — ideas that can be developed into new products. Many leading crypto technologies have been discussed here.

If developers decide a proposal could be integrated at the protocol level, someone steps up to draft a document describing the technology — this is the EIP. The EIP must explain what the proposal is, why it’s needed, and how it will improve the network. Technically, it’s a document in a GitHub repository. If no volunteer emerges to create the document, the idea remains on the forum, waiting for attention.

There are now over 8,000 EIPs in total.

### The EIP Discussion and Prototyping Process

Next comes the EIP discussion on the forum. If the community isn’t interested, the proposal might be set aside and forgotten. But if an EIP sparks interest, a developer or team might jump in and say, “We’ll build a prototype!”

The funnel from EIP to EIP with a prototype is roughly 1:10. That means out of 8,000 ideas, about 800 are developed into prototypes of reasonable quality. Often, these prototypes are created by developers from various teams within the Ethereum ecosystem since there’s no direct payment for developing an EIP prototype — it’s a purely non-commercial effort. Occasionally, if an EIP is especially compelling, it might receive a grant, though that’s more of an exception.

If the prototype is completed and the community approves it, the proposal can move forward to implementation. This means the EIP discussions enter the call with All Core Devs. All Core Devs is an assembly of, usually, one developer per Core Dev team of the Ethereum ecosystem. The number ranges at times, but generally, it’s about 10-20 teams that work on the key Ethereum tech.

The goal of these All Core Devs calls is to decide what should be implemented into the network’s protocol next. This should be a conclusive decision, meaning that they should reach a consensus.

### From Ideas to Hard Forks

Ethereum devs gather all the ideas that accumulate over time in EIPs into a massive roadmap, which is often demonstrated by Vitalik Buterin. In this Ethereum Roadmap, there are different directions and work blocks, but under each block, there’s one or more EIP — those very ideas from the forum (Vitalik could write those ideas too).

The All Core Devs team spends a lot of time discussing and gathering EIPs during their calls. These EIPs are then grouped into a package, referred to as a Hard Fork. This list is public, so anyone can view, discuss, and review it. So, the next time you read in a reputable financial publication or hear from Bitcoin maximalists that Vitalik changes Ethereum on a whim, you can argue that it's actually a decision made by the All Core Devs assembly.

Naturally, when deciding which EIPs make it into a Hard Fork, disputes arise. Each team wants their EIP included in the next fork, and it's not uncommon for frustrations to surface when a proposal gets sidelined. There have been instances in Ethereum's history where the All Core Devs didn’t assemble simply because they thought, "What's the point? We'll just end up arguing." So, if there hasn’t been a hard fork in a while, it likely means consensus hasn't been reached.

Researchers often pack as many prototypes into a fork as they can. They didn’t develop all these ideas just to let them sit idle, right? Once the prototypes are in, the All Core Devs teams have to sift through them and narrow down the EIPs. After all, they’re the ones who’ll be responsible for making everything work. Running a network with over a million users involves more than just drafting documents and brainstorming ideas.

### Development and Implementation

To develop complex EIPs, Ethereum conducts offsites, usually once a year. These are internal events where core developers gather for a week or two in a hackathon format to code all the ideas needed. They work on coding, discussing well-thought-out ideas that need a bit more development, and fixing bugs.

There could also be separate themed calls focused on complex or large EIPs. Note that not all core developers know every aspect of Ethereum; that’s likely only Vitalik. Each developer typically has their own area of specialization.

Once it’s decided which EIPs will be included in a fork, the Core Devs team and prototype developers start the implementation into production code. There’s a funnel here — not all planned EIPs can be completed within schedule. In fact, only a small number make it into the hard fork on time and with production-ready quality.

### EIP Politics

And what about politics? If you want the Ethereum community to focus on your specific EIP, you'll need to lobby for it. That’s why many EIPs have their own websites, communities, and thought leaders pushing them on Twitter. It’s hard to say if this strategy works, but anyone can give it a shot.

Some EIPs, by the way, become the very tokens you create, buy, and sell — like the current ERC20 (fungible tokens, similar to currencies), ERC721, and ERC1155 (tokens for unique assets). So, out of over 8,000 ideas, only three have become global token standards. Right now, the community is working on creating economic tokens, dividend tokens, revenue-sharing tokens, and other protocols that distribute money. When developers solve this problem at the standard level, it could significantly improve all our lives.

The most promising innovations for mass adoption — Ethereum wallet accounts linked to regular Web2 email addresses and the Account Abstraction technology — are the standards ERC 4337 and ERC 7579.

### Summing Up

In essence, the foundation of many cutting-edge fintech developments worldwide can be traced back to specific ideas within the Ethereum ecosystem. These ideas are meticulously documented through Ethereum Improvement Proposals (EIPs), each representing a potential advancement for the network. The significance of EIPs goes beyond the written proposals; they are part of a broader, collaborative process where the community actively participates in shaping the future of Ethereum.

Interestingly, the discussions that lead to these innovations are often public. Platforms like YouTube host real-time debates where developers dissect and deliberate over various EIPs, offering transparency and insight into the decision-making processes that drive Ethereum forward.

This collaborative and decentralized approach explains why Ethereum remains a top network in the blockchain space. 

**This text is a free rewrite of a pitch about Ethereum development from one of its developers.*

Ethereum EIP.png

Ethereum Improvement Proposals

**Teleports Are Real: TON Teleport BTC Unveiled**

The Open Network (TON) Foundation, which manages the Telegram-centric blockchain network TON, has announced new infrastructure aimed at enhancing Bitcoin utility on the platform.

This new infrastructure, known as TON Teleport BTC, facilitates transfers between Bitcoin and TON. Its goal is to expand Bitcoin's use cases within the TON ecosystem, particularly for decentralized exchanges, lending protocols, and other DeFi applications.

**Functionality**

TON Teleport BTC facilitates the transfer of Bitcoin between the Bitcoin blockchain and TON without relying on central intermediaries. The system is designed to be trustless, enhancing security and autonomy. Here's a breakdown of how it works:

- Users send their BTC to a unique Bitcoin address.
- Once the Bitcoin transaction is confirmed, an equivalent amount of BTC is issued to the user’s address on the TON Blockchain.
- Users can then utilize these BTC tokens in various decentralized applications (dApps) on TON or redeem them for BTC on the Bitcoin network.
- For the reverse process, users burn their BTC tokens on TON, which triggers the release and return of their BTC on the Bitcoin blockchain.

**Benefits**

TON Teleport BTC will significantly enhance the DeFi integration within the TON Blockchain. By enabling new Bitcoin-based financial mechanisms and products, such as decentralized exchanges (DEXs), lending platforms, and advanced wallet services, Bitcoin will be transformed from a mere stored asset on TON into a tool for generating additional returns. 

This integration sets a precedent for future systems that could link TON with other EVM-compatible networks, demonstrating the potential for wider blockchain connectivity.

**Impact**

When implemented, TON Teleport BTC will be a major technical achievement, contributing to a more connected and efficient global blockchain ecosystem. It offers a decentralized, secure, and transparent method to integrate Bitcoin into the TON Ecosystem without centralized intermediaries, ensuring there is no censorship or control over asset flow. 

TON Teleport BTC is not just a technological advancement; it's a vital step toward realizing a more connected and innovative Web3 environment. By bridging Bitcoin to TON in a trustless manner, the project paves the way for a new era of connectivity and innovation within the blockchain space. This exciting development promises to push the boundaries of what’s possible in the decentralized world, offering transparency and autonomy for all users.


Blockchains	22
DEX'en	827
Pools	3.587.898
Tokens	2.268.348
Boerderijen	4.774
NFTs	Binnenkort...

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