Daily news update: November 02nd, 2021

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Here you will find our daily update, which will provide you with all the main information and events on the crypto markets for the previous day.

Crypto market update

After another dip to just over $60,000, bitcoin has regrouped and currently stands close to $63,000. More impressive price performances come from some altcoins as Polkadot tapped a new all-time high hours ago, and Decentraland has entered the top 50 coins by market cap.

Bitcoin (BTC) is now trading at 63,241 USD (all data from Coingecko.com)

Ethereum (ETH) is now for 4,468 USD

PlatonCoin (PLTC) is now for 0,470 USD

Total marketcap is currently at 2.845 trillion USD

Daily news update

Institutions and crypto: Cryptocurrency investment products saw inflows of US$288 million last week, with total inflows year-to-date at a record of US$8.7 billion — 30% higher than the total for 2020, according to digital asset manager CoinShares.

Millenials and crypto: A Bankrate survey shows that nearly half of millennials are comfortable with investing in the crypto market, compared to 37% of Gen X and 22% of baby boomers. The result is in keeping with previous surveys, which all show millennials keen on crypto.

Thiel and Bitcoin: Peter Thiel – Co-Founder of PayPal and Palantir Technologies – believes the high price of Bitcoin indicates that inflation has started shaking the financial network. He opined that investors should not rush to buy BTC when the USD value for a single token is more than $60,000.

Ubisoft and NFTs: Gaming giant Ubisoft has begun prepping up for its upcoming NFT game feature. The company made this disclosure during its latest open call last week, where it explained how the NFT feature would give players the opportunity to earn NFT and crypto rewards for successfully completing levels of play.

ETH hashrate: Ethereum’s hashrate has reached another high of 812,768 GH/s. Though the EIP-1559 update removed fees for miners, they can still receive significant profit by using newly introduced tips that network users utilize to push their transactions through during periods of high network load.

Raol Pal and Ethereum: The former Goldman Sachs executive tells Real Vision’s 569,000 YouTube subscribers that he’s bullish on ETH because the cash generated in the Ethereum ecosystem is about 100x the rest of the entire space combined. He also argues that a demand shock could be coming to Ethereum due to the various use cases of the leading smart contract platform.

Metaverse Sandbox and NFT: The Sandbox—a subsidiary of Animoca Brands—announced that it has raised $93 million in a Series B funding in a round led by SoftBank’s Vision Fund 2. The Japanese firm has pushed hard into NFT and crypto investments lately, including leading Sorare’s $680 million raise in September plus Digital Currency Group’s $700 million raise this week.

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