Table of Contents
Welcome to today’s overview of crypto news:
MARKETS
When news began last week that the US Securities and Exchange Commission would finally allow Bitcoin in the ETF, the question was not whether the asset would break its April high, but when. Following the news that the ProShares ETF will be launched on October 19, BTC has raised more than $ 60,000 for the first time in six months.
When the exchange-traded fund actually started trading on Tuesday, BTC pumped up again, approaching just $ 500 from its record. But that all changed yesterday, when the cryptocurrency fired well above $ 65,000.
In the following hours, it actually reached $ 67,000, which set a new record.
Alternative coins have failed to follow their leader north in recent days, but now the situation is quite different. After an 8% increase, ETH is one of the winners with the most significant gains. As a result, the second largest cryptocurrency is trading just below $ 4,200.
Cryptocurrencies
BTC has reached a new historical price maximum, but in a completely different market than last time
After keeping the entire crypto industry tense last week, BTC, according to CoinGecko, reached a new all-time high on Asian night, jumping more than 5% in less than three hours to a record $ 67,276.
This is the highest value at which the world’s largest cryptocurrency traded since its previous ATH of $ 64,804 in April, just before the mid-year crash.
“Damn, that’s a good feeling,” said Justin d’Anethan, head of stock sales at EQONEX, repeating the feelings of many people in the industry. “There is no surprise. We have been talking for several days and we are expecting new historical highs. If anything, the price action played, maybe it removed the overhang of the sellers before, so that it could break through better later. ”
Why does ELON “bark” the loudest after silencing Dogecoin and Shiba Inu?
Meme-coins never stop surprising people from the crypto space with their extraordinary exponential pumps. In the midst of a broader saga of upward trends, several such joke coins have been doing extremely well lately. And among them, ELON has been stealing thunder lately.
As of October 1, this altcoin has appreciated by more than 1200%. This means that if you invested $ 100 in ELON at the beginning of the month, you would have an unrealized gain of $ 1,200 at this stage. Pretty outrageous, isn’t it?
With a market capitalization of over $ 330 million, ELON has become the third largest meme-coin. Currently only located behind DOGE and SHIB. What’s more, according to CoinGecko, ELON was the most traded coin on the Uniswap v2 market in the last 24 hours.
PayPal co-founder Peter Thiel says he “underinvested” in BTC
PayPal co-founder and billionaire and venture capitalist Peter Thiel said he should have bought more Bitcoin when BTC hit a new all-time high above $ 67,000.
Thiel spoke about cryptocurrencies, central banks and artificial intelligence (AI) during an interview in Miami hosted by the Lincoln Network political think tank, Bloomberg reported on October 20.
The technology investor noted that his only concern when buying BTC was that everyone already knows this investment “secret.”
Banks, crypto exchanges, companies
JPMorgan names the trigger for the new BTC ATH and does not start the BITO ETF
According to a recent Bloomberg article, investment banking giant JPMorgan believes it was not ETF BITO BTC, which was launched on the New York Stock Exchange on Tuesday, that moved the flag cryptocurrency to a new all-time high.
JPMorgan’s strategists believe that the most likely reason for BTC’s massive rise to a new all-time high on Wednesday was inflation, not the ETF BITO BTC, which ProShares listed on October 19 on the New York Stock Exchange Fidelity. This means that BTC is growing due to the monetary approach, comments Tressis chief economist Daniel Lacalle.
Binance trades reached $ 100 billion in a single day
The leading crypto exchange marked this crucial milestone on the day when the largest cryptocurrency BTC reached a new historical maximum. According to CoinMarketCap, despite the introduction of stricter measures for users due to strict regulatory control, Binance has a convenient advantage over other crypto echanges in both spot trading and derivatives trading.
Earlier this month, the trading platform also announced the creation of a $ 1 billion ecosystem fund. Meanwhile, the decentralized financial sector is catching up with centralized giants. The total value locked in DeFi protocols reached $ 100 billion for the first time.
CBDC, Regulation
Thai regulators have eased the NFT ban as local banks invest in the ecosystem
The Thai market regulator is taking a new approach to cryptocurrencies in the land of smiles and is moving away from its original hard stance on the NFT, while at the same time taking a looser approach to GameFi.
Earlier this year, the Thai Securities and Exchange Commission banned the NFT on local exchanges and also provided guidelines that discouraged publicly listed companies from becoming BTC macro data (such as MicroStrategy). Now the SEC has changed its mind about the first, and local institutions have accepted it. In fact, the Thai Kasikorn Bank, the second largest bank in the country, has opened the NFT market.
