The data provided by analyst William Clemente in a report by Blockware Intelligence paints an optimistic picture for Bitcoin. Less than 1% of BTC’s supply has ever exceeded current prices.
As a result, the report claims that there is “very little resistance or offer over this surge”. Bitcoin’s SOR indicator, a metric used to measure real gains and losses for holders, is above 1.
The last time this indicator was above 1 or higher was in April 2021 when Bitcoin was trading at ATH at $ 64,500.
SPORT advertisement | Source: Glassnode
The derivatives market is also growing strongly with the possible approval of a Bitcoin ETF in the USA. This is one of the reasons the market is bullish.
The report hopes that the approval of the Bitcoin ETF will open up new opportunities for institutional investors to enter the cryptocurrency market. Institutions can benefit from the price difference between spot and futures markets. In addition, the Futures Annualized Rolling Basis Index shows that upward pressure is building.
One of Australia’s largest pension funds is researching BTC.
follow report Recently by the Financial Times, the Queensland Investment Corporation (QIC), the fifth largest pension fund in the country with reserves of $ 69 billion, is investigating the leading cryptocurrency.
The company’s director and currency chief Stuart Simmons said that QIC, which is owned by the government, will not invest too heavily in this market given the ambiguity of the country’s regulations. Still, Simmons seems optimistic that as the crypto market matures, QIC-like funds will enter the industry.
In addition, a Bitcoin ETF will be launched on the Australian Stock Exchange (ASX) later this month, focused on tracking the value of companies that hold large amounts of BTC. The ETF is listed under the ticker “CRYP”.
The market is also going viral now information Bitcoin NFT is expected to be launched on the New York Stock Exchange next week. However, it has not yet been approved by the SEC. If the SEC approves a Bitcoin ETF at the last minute, it could be a big boost to the market.
Strike allows users to convert their wages into Bitcoin.
Payment processor Strike has announced the launch of a new feature that will allow users to convert their wages into Bitcoin. This feature brings workers one step closer to receiving their wages in Bitcoin.
Strike allows users to convert all or part of their salary into BTC. Instead of converting cash to fiat and then converting it back to BTC, users can convert directly to BTC with the payroll received. The feature called “Pay Me in Bitcoin” was announced on Thursday. This is one of Strike’s efforts to bring BTC to its users.
https://twitter.com/BitcoinMagazine/status/1448695159689039872?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener
Tim Beiko, Ethereum 2.0 researcher and coordinator at the Ethereum Foundation, has published a summary of the launch of the Amphora Devnet network. This is considered an important milestone for the development of Ethereum 2.0.
Beiko shared her blog post about the launch of the Ethereum 2.0 devnet network Merge during the Amphora panel.
https://twitter.com/TimBeiko/status/1449004495745138689?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener
Ethereum’s core developer community (ETH) has entered the final phase of the “Devnet” test, so Beiko says Ethereum 2.0 Devnet should publish the tough specs for the community to participate in.
Several ETH2 customer implementation teams attended the Amphora conference: Besu, Erigon, EthereumJS, Geth, Nethermind, Nimbus, Lighthouse, Lodestar, Quilt, Prysm and Teku.
ETH could hit $ 4,900 in the near future.
In the notes are publish Recently, research firm Fundstrat predicted that the price of Ethereum, the second largest cryptocurrency, could reach $ 4,900 in the near future due to the growing DeFi sector.
ETH bulls can expect the market to set up a new ATH if the price breaks above $ 4,030. According to Fundstrat analysts, the current new momentum could push Bitcoin’s rival to new highs.
After lagging Bitcoin for a few weeks, Ether has started to become a big winner in the past two days and Fundstrat believes its growing market share is a signal of increasing demand for ETH. .
400,000 ETH were withdrawn from Coinbase.
According to CryptoQuant, around 400,000 ETH (worth around $ 1.5 billion) were withdrawn from the Coinbase crypto exchange yesterday.
The constant flow of money from the exchanges means that buying pressure is maintained in the market and investors are optimistic about Ethereum.
400,000 ETH were withdrawn from Coinbase | Source: cryptoquant
Data from eToro called, In the third quarter of this year, retail investors in the UK started paying more attention to the sixth largest cryptocurrency, XRP, and investing more money in other digital assets.
Now XRP is the number one cryptocurrency (in the retail market) in the UK. In the second quarter of this year, XRP grew 4% and year-over-year growth reached 105%.
Cardanos ADA is the second cryptocurrency British investors are considering after XRP. In the past three months, ADA has surpassed Ethereum in popularity, growing 11% and bringing investors 1,230% year-over-year growth.
The Monster vs NFT game, Axie Infinity, became the most traded NFT collectible of all time in the third quarter of 2021, surpassing NBA Top Shot and CryptoPunks and generating over 2 trading volumes, $ 5 billion.
follow report Axie Infinity, the latest BGA blockchain game from DappRadar, had a trading volume of $ 2.08 billion for the quarter, representing 83% of its total transaction value. The game also had revenue of $ 800 million for the quarter.
Axie had a busy Q3 in which the game kicked off staking for AXS holders and offered $ 60 million worth of AXS tokens to early players in the game. In October, Axie inventor Sky Mavis raised $ 152 million in a Series B investment round led by Andreessen Horowitz, with the company valued at $ 3 billion.
According to data from Etherscan, some anonymous whales recently moved around 260 billion Shiba Inu tokens through multiple transactions of more than 80 billion tokens each.
The big whales in the market are increasingly attracted to the SHIB token, which community members often refer to as the “Dogecoin killer”.
Whales move SHIB | Source: Etherscan
Experts believe that SHIB’s recent bull run was triggered by a whale buying 6 trillion tokens, causing the price of the meme to rise more than 300% in a week. The whale then bought another 276 billion tokens.
follow report Recently from DappRadar, activity on Binance Smart Chain (BSC) continued to surge as the number of Unique Active Wallets (UAWs) connected to the network exceeded 608,500 per day in the third quarter.
The well-known data collection and analytics company notes that this reflects a 20% increase over the previous quarter and a 487% increase over the 1 year period.
The entire blockchain industry saw usage increase 25% qoq, averaging over 1.54 million connected UAWs daily.
Billionaire Elon Musk, currently the richest man in the world, has a net worth of about $ 209 billion, or DOGE 861 billion.
While Elon Musk is hoping this money will be enough to bring human life to Mars, some in the DOGE community dream of DOGE becoming the currency on the red planet in the future.
Dogecoin YouTuber Matt Wallace said with a net worth of $ 209.4 billion, Elon Musk would own approximately 861 billion mem tokens if converted to DOGE.
https://twitter.com/MattWallace888/status/1449201158229213191?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener
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