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The market capitalization of the world’s foremost cryptocurrency reached a new all-time high of $1.303 trillion in U.S. dollar terms.Bitcoin’s previous market capitalization peak was in November 2021.
Memecoins are ‘rallying hard’ as retail-based market activity increases, analysts said.There are now seven memecoins in the top 100 cryptocurrencies by market capitalization.
Global digital-asset investment products witnessed a record trading volume of $30 billion last week, according to CoinShares.The crypto funds also registered their second-largest weekly net inflows of $1.8 billion, dominated by U.S. spot bitcoin ETFs.
Quick Take With bitcoin approaching all-time highs, Bernstein analysts expect a “big bang” DeFi recovery comes next. The analysts anticipate a broad-based market recovery, with DeFi leading the charge.
The meme coins are back at it again, with more impressive daily increases.
The dollar-pegged stablecoin has a current supply at its all-time high range of around 99.5 billion.Tether, USDT’s issuer, recorded its highest net profit of $2.9 billion in the fourth quarter of 2023, according to its attestation report.
Cathie Wood’s Ark Invest offloaded 217,305 Coinbase shares last week — valued at nearly $45 million as of market close on Friday.Ark also sold $11.4 million worth of Robinhood shares over the same period.
- 09:10DWF Labs Appoints Lingling Jiang as New Business Development PartnerOn October 30th, DWF Labs announced the appointment of Lingling Jiang, a two-year veteran of DWF Labs who has served as Regional Sales Director for Asia and Head of Hong Kong, to lead the company's business development efforts. According to Andrei Grachev, Managing Partner of DWF Labs, Lingling's years of experience and expertise in the industry will play a key role in shaping the company's strategic direction. In her new role, she will be involved in corporate decision-making, lead the business development strategy, and represent DWF Labs at global industry events. The news comes after DWF Labs fired former partner Eugene Ng in a sexual assault scandal, and has now removed his information from the team page on its website.
- 09:07Bitwise CIO: Dollar Doesn't Need to Collapse for BTC to Reach $200,000On October 30, Bitwise Chief Investment Officer Matt Hougan said that even without a collapse of the U.S. dollar, Bitcoin's price could reach six figures due to increased investment in “store of value” assets and continued depreciation of fiat currencies, according to Cointelegraph. In an October 29th post, Hougan responded to a question from a financial advisor who asked if Bitcoin could reach a value of $200,000 without the collapse of the U.S. dollar. Hougan said that Bitcoin will succeed in establishing itself as “the new store of value asset” and that governments will continue to “abuse fiat currencies”. Hougan said that Bitcoin will succeed in establishing itself as “the new store of value” and that governments will continue to “misuse fiat currencies,” which will naturally lead to an increase in demand for hard assets such as Bitcoin. He noted that the total market capitalization of bitcoin is currently about 7-8 per cent of the market capitalization of gold, and that bitcoin could “mature” to half the total value of gold, making each bitcoin worth about $400,000. In addition, as governments abuse their control over the supply of fiat currency by printing money, more investors will be inclined to hold assets that are a store of value. If Bitcoin maintains only its 7 percent share relative to gold, and demand for Bitcoin alone triples, each Bitcoin would be worth $200,000. Hougan also says that if Bitcoin matures and the store-of-value market doubles, the value of Bitcoin could soon reach seven figures.
- 09:06STIX Founder: Over $80 Million in TIA OTC Volume Since JulyOn October 30, in response to tonight's unlocking of approximately 176 million TIA tokens (approximately 79.52% of the current liquidity, valued at approximately $900 million), Taran, founder of STIX, an OTC OTC platform, stated that based on the dynamics of the unlocking, a total of 92.3 million TIAs are expected to enter liquidity following the unlocking, consisting of tokens that are unpledged, tokens that are in the 21-day unpledged queue, and Approximately 24.1 million unrecorded tokens, with an expected maximum selling pressure of $460 million; Additionally, TIA trading volume through the OTC market including STIX is expected to be in excess of $80 million since July, and Taran believes that shorts will continue to reduce their positions, with the funding rate likely to reset to zero or positive on unlocking.
