Daily update: October 6th, 2021

100, daily, news

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

Bitcoin initiated another jump up in the past 24 hours resulting in a new monthly high just below $52,000. Most alternative coins have stalled once again, but Shiba Inu continues to perform well as it has entered the top 20 tokens according to the total market cap.

Bitcoin (BTC) is now trading at 51,358 USD (all data from Coingecko.com)

Ethereum (ETH) is now at 3,443 USD

PlatonCoin (PLTC) is now at 0,547 USD

Total marketcap is currently at 2.282 trillion USD

Tip: Is this the everything bubble?

Daily news update

Bitcoin approaching 1 trillion USD: Following a market-wide resurgence, Bitcoin (BTC) soared above $50,000 for the first time since early September this week, rising as high as $51,839 in the early hours of Wednesday morning. One of the key sentiments that helped BTC soar today was the chairman of the Securities and Exchange Commission (SEC), Gary Gensler, statement that his agency does not have the power or the desire to ban cryptocurrency.

Forbes and crypto: Forbes 400 rich list for 2021 welcomes six new cryptocurrency billionaires. These names are all prominent in the crypto industry. These six people have joined a Ripple co-founder who appeared on the list last year. In total, there are now seven names on the list who are crypto billionaires. According to an October 5 Forbes article, the crypto billionaires are collectively worth an estimated $55.1 billion. The newcomers join Chris Larsen, who co-founded Ripple in 2012.

US Bank and Bitcoin: US Bank – the fifth-largest retail bank in the United States – is launching a crypto custody service available to fund managers as more institutions race to meet clients’ demands for cryptocurrencies. US Bank partnered with New York Digital Investment Group (NYDIG) to provide crypto services for Bitcoin, Litecoin, and Bitcoin Cash. Support for other cryptocurrencies like Ether (Ethereum) will be rolled out in the near future.

Soros and crypto: Dawn Fitzpatrick, the CIO of Soros Fund that manages the personal capital of billionaire George Soros—who is famous for his donations to the Democratic Party and promotion of liberal ideas, said in an interview with Bloomberg that the fund owns “some coins” and is looking forward to exploring the DeFi industry.

Bitcoin and mining: The mining difficulty level is now at 19.89 trillion at block height 703,584, reflecting the most difficult level since a previous adjustment on June 14, the data show. The latest increase follows five increases after four consecutive declines since May when China intensified its clampdown on the sector.

SEC and Bitcoin ban: Speaking at the House Financial Services Committee hearing on Oct. 5, the SEC chief stated that the agency has no plans to follow China’s lead and impose an outright ban on crypto. “That would be up to Congress,” he added. Late last month, Andreessen Horowitz partner Katie Haun said following in China’s footsteps would be very bad for the U.S.

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