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 has reacted well to the latest price drop below $41,000 and quickly spiked above $43,000. Most alternative coins have failed to produce any significant gains in the past few days. Ethereum has been one of the biggest losers as it had dropped from above $3,100 to $2,900, where it stands still. Nevertheless, the crypto market cap has added around $40 billion and currently stands just below $2 trillion.
Bitcoin (BTC) is now trading at 43,214 USD (all data from Coingecko.com)
Ethereum (ETH) is now at 2,990 USD
PlatonCoin (PLTC) is now at 0,551 USD
Total marketcap is currently at 1.978 trillion USD
Daily news update
Kiyosaki and market crash prediction: Robert Kiyosaki has projected that the general market will crash in October. Speaking to Kitco News, Kiyosaki explained several factors around the economy that will culminate in the crash he described as the biggest in the world. The author cited factors like the growing debt while stating that a possible crash offers an opportunity to invest in assets considered a store of value like Bitcoin, gold, and silver. He noted that the possible crash will result from decisions made by the Federal Reserve and the Treasury. Kiyosaki opines that decisions made by the institutions do not mirror the current state of the economy.
Bitcoin replaced gold: Social Capital CEO and former Facebook executive Chamath Palihapitiya recently opined that Bitcoin had “effectively replaced” gold at CNBC’s Delivering Alpha conference. Palihapitiya expects Bitcoin’s market cap to continue growing. The billionaire, however, declined to make a specific price prediction during his conversation with CNBC’s Scott Wapner.
Cardano gets 100 mil. USD investment: The Cardano (ADA) ecosystem is getting a major investment from blockchain tech firm EMURGO. In a tweet, EMURGO says it is injecting $100 million into the Cardano ecosystem via an investment vehicle to bolster development in several key areas, including decentralized finance (DeFi) and non-fungible token (NFT) technology.
NFTs in sports: SoftBank Vision Fund, LionTree, Bessemer Ventures, IVP, Hillhouse and Atomico were all lead investors in Sorare, a European fantasy football platform that offers digital collectibles in the form of non-fungible tokens (NFTs). Sorare’s recent $680 million Series B raise was the largest funding round in NFT industry history, with the company’s value clocking in at $4.3 billion.
Great Britain and CBDC: On Sept. 29 the Bank of England announced the membership of its CBDC Engagement and Technology Forums and they include some big names in tech and finance including Google, Mastercard, Consensys and even Spotify. This week’s announcement is a signal that the central bank is taking its CBDC plans seriously. It stated that the Technology Forum draws resources from leading experts in the field of digital payments and cryptocurrencies.
New Zealand and CBDC: The Reserve Bank of New Zealand (RBNZ) published an issue paper providing its perspective on central bank digital currencies (CBDC). The paper outlines CBDC purposes, designs, as well as the potential benefits and associated risks. The bank will be seeking comments on the proposed paper until Dec. 6.