Top 5 Cryptos with the Biggest 24-Hour Gainers
TOP 5 Gainers Coins
| Indices | LTP | Change (%) |
|---|---|---|
| Axie Infinity | $5.75 | 14.98% |
| Gala | $0.02028 | 12.10% |
| BitTorrent(New) | $0.0000004468 | 10.97% |
| Decentraland | $0.3754 | 8.30% |
| Internet Computer | $3.99 | 7.73% |
Crypto News Key Highlights:
The Federal Reserve is expected to maintain its 22-year high interest rates to combat inflation without harming the strong US economy. Most analysts anticipate the Fed will keep rates unchanged in November, with a 99.9 percent probability according to futures traders. Despite the aggressive rate policy, the US economy remains resilient, with robust consumer spending, GDP growth, and low unemployment. The recent surge in long-term government bond yields and global geopolitical tensions add uncertainty to the Fed's future decisions.
BlackRock's listing on the DTCC signals progress towards a Bitcoin ETF, likely indicating SEC approval. BlockFi has recovered from financial troubles, while FTX seeks to recover its assets after a misappropriation case. BlockFi's future depends on legal proceedings and negotiations with creditors, including FTX and Three Arrows Capital, impacting the final refund to investors.
VanEck, a major asset management firm, has updated its Bitcoin spot ETF filing with the SEC, reflecting a commitment to meet strict regulatory standards. Competitors like BlackRock are also refining their ETF applications. Recent court decisions signal evolving sentiment within the SEC regarding Bitcoin ETFs, potentially transforming the crypto market.
Cryptocurrencies won't replace traditional currencies but will play a significant role in the financial ecosystem. Central Bank Digital Currencies (CBDCs) bridge the gap, combining digital currency convenience with traditional money's stability. Second-layer solutions and crypto adoption in daily transactions are advancing this coexistence, shaping a decentralized and inclusive financial future.
Sam Bankman-Fried, once hailed as the "richest twenty something in the world," now faces charges related to the disappearance of billions of dollars of FTX users' money. Author Michael Lewis explores Bankman-Fried's journey from a crypto icon to a criminal defendant in his book "Going Infinite." The book delves into the rise and fall of the crypto tycoon and the complexities of the FTX collapse, raising questions about his motivations and character.
Approximately 25 people have lost $4.4 million in cryptocurrency from 80 wallets following a 2022 data breach affecting LastPass, a password storage software. The breach impacted longtime LastPass users who stored crypto wallet keys/seeds on the platform. This comes after LastPass disclosed the attacker's actions in December 2022, with significant crypto losses reported. On-chain researcher ZachXBT and MetaMask developer Taylor Monahan tracked the movement of compromised funds and advised affected users to migrate their assets.
Recent on-chain data reveals that wallet addresses linked to the bankrupt FTX exchange and Alameda Research have transferred nearly $80 million in crypto assets over the past week. These movements were first reported by the blockchain analytics firm Nansen, with funds being sent to various exchanges. It is unclear whether these transfers are related to the exchange's bankruptcy proceedings. Sam Bankman-Fried, FTX's former CEO, is currently on trial for fraud-related charges.
The recent cryptocurrency market resurgence, led by a Bitcoin rally nearing $35,000, has increased trading volumes to their most active state in seven months, surpassing $24 billion on October 26. The anticipation of a Bitcoin ETF launch has spurred this volatility, while a key metric suggests Bitcoin may have entered a bull market cycle, with room for further value appreciation.
ARK Invest, Cathie Wood's investment firm, sold 66,342 Grayscale Bitcoin Trust (GBTC) units for $1.66 million while acquiring shares in a crypto-linked stock. This aligns with ARK Invest's recent pattern of divesting GBTC shares, potentially connected to their filing for a Bitcoin-based ETF. Furthermore, the firm actively purchased shares in other companies, such as Robinhood. The recent actions might be influenced by Bitcoin's price surge and a recent court ruling in the Grayscale and SEC legal battle, which is seen as a positive development for the regulatory landscape of Bitcoin ETFs.
Also read - 24 Crypto Update, 29 Oct: Bitcoin above $34K, top coins gain
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