Crypto Market Highlights October 29, 2021

Bitcoins ‘Shocktober’, New Cryptocurrency ATH, Stablecoin in Singapore etc. are the highlights of the crypto market in the last 24 hours as aggregated by cryptonew.

Crypto Market Highlights October 29, 2021: Investment News

– The data suggests that the supply shock (driven by long-term holders) contributed to Bitcoin (BTC) soaring to record levels in October as there were few returns from long-term holders despite the recent rally, Kraken said in her latest report the title Shocktober. “The new demand for BTC is becoming more and more apparent given active addresses, new addresses, number of transactions, speed and other metrics; since September, active addresses, new addresses, number of transactions and active provisioning rate have increased by 10.3% for 1 year. They say + 4.7%, + 10.5% and + 4.9%, respectively.

– CryptoCompare said in their latest report that rising crypto prices and increasing weekly inflows caused assets under management (AUM) to jump 45.5% to an all-time high of $ 74.7 billion in October. Average daily volume also rose to $ 802 million (up 43.6%) in October as higher prices create more volatility and create a potentially more favorable market environment for traders. Total assets under management in BTC-based products rose 52.2% to $ 55.2 billion, an all-time high. Ethereum (ETH) -based products also hit a new all-time high in October, up 30% to $ 15.9 billion, according to the report.

– Alchemy, a blockchain and Web 3.0 developer platform, announced a $ 250 million Series C funding round, led by Andreesen Horowitz (a16z) and valued at $ 3.5 billion. Without giving any specific numbers, Alchemy said its earnings have increased “15-fold in the past six months.”

– The US Securities and Exchange Commission (SEC) has asked at least one asset manager to cancel plans for a leveraged BTC exchange fund, the Wall Street Journal reported. The SEC has signaled that it intends to restrict new Bitcoin-related products to those that offer unfavorable access to Bitcoin futures contracts, the report said.

– The Findora public blockchain launched a $ 100 million ecosystem fund that was set up to accelerate the growth and development of the Findora ecosystem. Developers and validators can apply for funding through the Findora Foundation website, while the community can vote on which projects will be funded through a governance process.

– Voyager Digital cryptocurrency platform has announced a $ 75 million investment from Alameda Research. “While the immediate opportunity is in terms of command flow and asset management, we are extremely excited to see potential future synergy opportunities in the ever-evolving crypto industry. These opportunities include NFTs and crypto derivatives through Alameda, as well as thought leadership creation. We’re working with lawmakers to shape regulation, “said Steve Ehrlich, CEO and co-founder of Voyager.

– Cross-chain relay protocol Biconomy announced that it raised approximately $ 11.5 million for its network token BICO as part of a CoinList token sale. They said more than 850,000 traders wanted to take part in the sale, one of the highest by registrations on the CoinList platform.

Crypto Market Highlights October 29, 2021: Regulatory News

Tharman Shanmugaratnam, chairman of the Singapore Monetary Authority, said cryptocurrencies will have a place in their financial sector if they are regulated, reports Bloomberg. In the meantime, stablecoins could play a role alongside traditional payment systems, although those digital assets need to be regulated for illegal financial activities, including combating money laundering, he said.

Crypto Market Highlights October 29, 2021: NFTs News

• A new feature in Adobe Photoshop will allow artists to prove themselves as creators of artwork in the non-fungible token market (NFT), according to an Adobe blog post. Users can link their Adobe account, including the Content Credentials feature, to their social media profiles or crypto wallets, and if they subsequently sell their work as NFTs, the marketplace can display digital certificates based on Adobe verified credentials.
• Filmmaker David Lynch and alt-rock band Interpol take on an NFT series based on their 2011 collaboration in which Lynch made a crude film called “I Touch a Red Button Man” around the song “Lights.” “to accompany the band during a live performance. according to Forbes. The NFTs are available on the SuperRare platform.
• The WWE Sports Media Foundation and the NFT Blockchain Creation Labs project have announced a multi-year agreement to launch the NFT marketplace for licensed WWE digital tokens and collectibles. NFTs will include events such as WrestleMania and SummerSlam, while the marketplace name and start date will be announced in the coming weeks.
• The API software developer who publishes, tested and sold NFT today announced the completion of a $ 15 million seed investment led by Mechanism Capital. They said the investment is valued at $ 75 million.
• NFT’s GigLabs announced that it has raised $ 4.5 million in a seed round led by Dapper Labs and Panoramic Ventures. This round of funding will allow the company to build and scale its team to accelerate customer growth, they said.

Crypto Market Highlights October 29, 2021: News on new products and services

Thailand’s largest shopping center developer, Central Retail Corp., is testing a digital currency among its employees with plans to expand its offering to customers and the public after the call deadline. The sandbox is complete, reported Bloomberg. The tokens will be distributed to the 80,000 employees worldwide based on their usual compensation and can be used as an alternative to cash in restaurants or to purchase products and services from Central Retail partners.

The P2P blockchain food ecosystem Bistroo announced that merchants now have the option to accept payments in five cryptocurrencies: BTC, ETH, Binance Coin (BNB), Litecoin (LTC) and Bitcoin Cash (BCH). The platform also accepts its own native token, BIST.

Voyager Digital Ltd., a US-based listed cryptocurrency platform, entered into a five-year partnership with the NBA team Dallas Mavericks, becoming the first international partner and crypto brokerage team.

Crypto Market Highlights October 29, 2021: Career News

Bitpanda has appointed Joshua Barraclough as CEO of its specialist exchange Bitpanda Pro. Barraclough is a former JPMorgan executive where he was responsible for creating new businesses, products and services.

Binance has appointed Patrick Hillmann as its first chief communications officer. Hillmann, who has joined the Edelman exchange, will oversee all corporate communications, public affairs, media relations and stakeholder engagement and will work with Binance’s security and compliance executives.

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