🪙 Binance completed the 29th quarterly burn 🔥 of BNB tokens, destroying 1.77 million coins, which is equivalent to $1 billion.
#BinanceTurns7

Yesterday, the inflow into Bitcoin ETFs attracted $870 million

Yesterday's inflow of funds into BTC ETFs became one of the largest since the launch of the instrument.

There is a significant increase in investor interest in cryptocurrency investments, as well as their desire to diversify their portfolios.

In recent months, the number of companies and financial institutions offering Bitcoin ETFs has increased, making this asset more accessible to a wider audience.

Also, at the current moment, the value of reserves of MicroStrategy has exceeded $18.437 billion.

Trump confidently leads with 33.9% in bets on Polymarket.

The elections are about to start, but I want to convey one thought to you. The probability of Trump winning is actually not 67%, but around 48 - 49, as the advantage towards any opponent on Polymarket is determined by the volume of bets, not by social polls, etc.

Nearly $1,000,000,000 has been bet on Donald Trump winning, while over $618,000,000 has been bet on Kamala Harris winning. That’s where this advantage comes from.

It’s difficult to predict who will win, so let’s just wait for the announcement of the results.

Ether holders are not in the best condition right now 😂

- What happened to him?

- He has only $2000 left to ATN.

- And what's the problem? Today BTC is $72k, tomorrow it will be $74k.

- Yes, but he is an ETH hodler.

📈 Bitcoin has every chance of reaching the mark of $100 thousand by January 2025

10x Research predicts that by early 2025, $BTC could reach this mark. This is driven by the interest of institutional investors, market signals, and Bitcoin's dominance.

When Bitcoin sets a new six-month high for the first time in 6 months, as it recently did, historically we see a return of 40% over the next 3 months.

Considering these calculations, a 40% jump from the current market price of $73,000 would mean that by January 27, 2025, $BTC would exceed $101,000.
#BTC☀️

What changes have occurred in El Salvador since the adoption of BTC?

Increased:

1) Bitcoin
2) Economy
3) Tourism
4) Energy generation
5) Foreign investment
6) Construction
7) Military power
8) International image
9) Soft power
10) Approval rating
11) Bonds
12) Revenues

Decreased:

1) Crime
2) Food prices
3) Migration
4) Risks
5) Taxes
6) Deficit
7) Government spending

This was reported by the current president of El Salvador on social media X.

The third quarter of 2024 was record-breaking for USDT

In the third quarter of 2024, a new record was set for the number of newly registered accounts in USDT — their number reached 36 million.

Since May, the company Tether has started to issue stablecoins monthly, and in October, the issuance volume amounted to 768 million tokens.

The majority of USDT is issued on Tron, where the issuance rates of dollar-backed digital currencies are the highest among all digital currencies.

According to Artemis, 67% of all USDT is held in small and medium wallets.

The ten largest addresses control about 17.52% of the total USDT volume (according to TronScan). The second place by market capitalization is occupied by USDC with a volume of $34.637 billion.

During the alt-season, analysts believe meme coins will show the greatest growth

According to data provided by CoinGecko, over the past week, the Bitcoin dominance index decreased to 55.6%, however, today the dominance rose to 59.74% and the alt-season will have to wait a bit longer 😅

Willy Woo, a well-known crypto analyst, shared his forecasts with an audience of over a million subscribers. He suggested that after the Bitcoin rally, an increase in the value of low and medium market cap altcoins should be expected.

According to Willy Woo, in the new alt-season, meme coins that are popular among risk-taking traders will lead the growth.

Nevertheless, the analyst recommends not rushing into purchases and carefully monitoring low market cap meme coins.

There is hope that #ETH will "wake up" soon ✅

The asset's dynamics over the past few months leave much to be desired. Even many altcoins from the Tier 2 echelon are showing better dynamics than Ethereum.

However, on the monthly cash flow chart in the network, the trend has finally changed and the first green candles have appeared.

Perhaps this is the first signal for an upcoming reversal and exit from the stagnant sideways movement 📈

☄ Most important events of this week

Tuesday, October 29:

- USA - Number of Job Openings (JOLTS) - 17:00

Wednesday, October 30:

- EU - GDP for Q3 2024 - 13:00
- USA - GDP for Q3 2024 - 15:30

Thursday, October 31:

- China - Manufacturing Purchasing Managers' Index - 04:30
- Japan - Interest Rate Decision - 06:00
- Eurozone - Consumer Price Index (CPI) - 13:00
- USA - Initial Jobless Claims - 15:30
- USA - Personal Consumption Expenditures Index - 15:30
- USA - Chicago Business Activity Index - 16:45
- USA - Federal Reserve Balance - 23:30

Friday, November 1:

❗ USA - Number of New Jobs in Non-Farm Sectors (Nonfarm Payrolls) - 15:30
❗ USA - Unemployment Rate - 15:30
- USA - Business Conditions in the Manufacturing Sector - 17:00
#BinanceTurns7

™ BTC-ETF issuers are buying twice as much BTC as miners are producing

According to HODL15Capital, since the launch of BTC-ETF in January until October 26, the funds have acquired 357,960 BTC worth $24.3 billion.

📊 During the same period, miners earned 181,608 BTC for adding blocks, amounting to $12.3 billion. This means that the fund issuers bought 97% more coins than were mined.

According to Blockworks, the market capitalization of American BTC-ETFs reaches $82.7 billion, while the value of issued BTC is estimated at $1.3 trillion.

💬 Thus, the fund issuers own more than 6% of the coins in circulation and therefore influence the market situation.
#BTC

In a week, spot BTC ETFs have increased by $1 billion

On Friday, spot Bitcoin ETFs attracted $401.2 million in net capital. As a result, the total amount of investments in these instruments reached $1 billion for the week.

Thus, exchange-traded funds are currently in significantly greater demand than in previous months.

Investors are actively seeking ways to invest in digital assets, and ETFs offer a convenient and regulated way to access cryptocurrencies. This reflects the growing popularity of Bitcoin and other cryptocurrencies among investors.

CryptoRank has compiled a ranking of L2 blockchains based on the number of addresses conducting transactions daily

The absolute leader is Base, with the number of active wallets reaching 1.43 million over the last month.

Celo and Arbitrum also made it into the top three, with figures of 650,000 and 470,000 wallets regularly sending and receiving funds.

Also on the list are L2 blockchains Scroll (103,000), Linea (87,000), Optimism (79,000), and zkSync Era (54,000).

According to CoinGecko statistics, the total market capitalization of assets on L2 networks is around $20 billion, with a daily trading volume of $1.452 billion.
#BinanceTurns7

Currently, the revenues of Bitcoin miners exceed 35 million $ per day

Mining pool revenues have reached record levels since June 2024, exceeding 35 million $ per day, which is 5 million more than in mid-October.

Since the beginning of the month, total miner revenues amounted to 811.34 million$, of which 771.76 million came from block rewards. This data was provided by The Block.

According to information provided by Blockchain.com, Bitcoin's hash rate remains at a level exceeding 700 exahashes per second (Eh/s). Last week, a historical maximum was recorded — 723,631 Eh/s, after which the figure dropped to 720 Eh/s by the end of the week.

AntPool became the leader among mining pools, with Foundry and ViaBTC also in the top 3.
#btcmining

USDT is now available on the Aptos network.

Additionally, the third largest bank in Bolivia, Banco Bisa, is launching custodial services for USDT. Clients will be able to buy, sell, and transfer USDT.

In the past five years, the popularity of stablecoins has increased a hundredfold. This growth can be assessed by the increase in the total capitalization of this asset class, which corresponds to the number of coins in circulation.
#USDT

📊 Stablecoin capitalization hits new high in a week

Over the past 7 days, the figure has soared to $172 billion, which has not been seen since May 2022. At the same time, Tether still dominates with a 69.25% share and a capitalization of $119.6 billion.

💵 According to CoinMarketCap, USDT is the most traded cryptocurrency on the market with a huge trading volume of $51 billion. BTC and ETH are in 2nd and 3rd place with $27.5 billion and $14 billion.

According to experts, the growth in stablecoin capitalization indicates an increase in liquidity on crypto exchanges. This may serve as a signal that investors are waiting for a market correction to exit it.

💬 As a result, BTC may become cheaper before stablecoins are converted into BTC or altcoins.
#BinanceTurns7 #Bitcoin❗️

📈 Bitcoin is trading above $65,000. What is the reason for the growth?

QCP Capital: “Historically, $BTC shows significant growth in the weeks leading up to the US presidential election.”

The current price action is similar to 2016 and 2020 – before the last election.

In addition, expectations regarding the stimulus of the Chinese economy became positive.

The S&P 500 index also opened at a new high, which indicates a bullish trend in the stock market.
#Bitcoin❗️

Whales have started to show activity with XRP

According to information from Santiment, last week large holders of the XRP cryptocurrency made a purchase of more than 40 million tokens.

High activity of large addresses was observed over the course of two days. The most active were addresses with a balance of 1 to 10 million tokens.

Usually, such movements precede an increase in the value of the cryptocurrency, and this happened: XRP began to grow already over the weekend.

Over the past day, the value of the altcoin has grown by 1.3% to $0.5386. The capitalization of the cryptocurrency has increased to 30.507 billion$ (according to Santiment).

Interest in XRP has also increased on the futures market: on October 14, the amount of open contracts reached $748 million, which was the highest figure since the end of September.

Perpetual swap rates are back in positive territory, according to CoinGlass.

The derivatives market environment is showing bullish sentiment among XRP traders, who are expecting a rally above $0.600.
#Xrp🔥🔥

Last week, inflows into crypto funds amounted to $407 million.

Net inflow amounted to $407 million. Investors have become more active, which may be due to the upcoming elections in the US, where Trump is confidently leading, and Kamala is starting to promise mountains of gold, which only reduces her chances.

Most of the inflow came from bitcoin and a little from ether. We have a great start to the week 🔥