Bitcoin (BTC) has hit a new all-time high of $66,999 on Coinbase. Bitcoin bulls had taken out the previous peak of $64,899 marked in April as a much-anticipated price surge pushed the lead asset into price discovery mode.
The second-largest cryptocurrency, Ethereum (ETH) also rose to highs of $4,080 seen at press time. This comes as Kinea, one of the leading asset managers in Brazil, disclosed making an exploratory investment in the cryptocurrency world. The company, which has a vast amount of assets under management had chosen to invest in Ethereum.
Majority of Altcoins rose as Bitcoin rallied to fresh all time highs with OKB (OKB, +24.06%), Huobi Token (HT, +12.69%), Cartesi (CTSI, +25.47%), Safemoon (SAFEMOON, +12.36%), Convex Finance (CVX, +28.07%), SOLVE (SOLVE, +228.16%), Sun New (SUN, +31.02%), BitDAO (BIT, +24.76%) posting significant gains.
The SUN token received a price boost as the TRON Foundation announced on Oct. 20 that SUN.io had acquired JustSwap, TRON’s first token exchange protocol, and was upgraded to the most prominent decentralized exchange in the TRON ecosystem: SUNSwap. The upgraded SUNSwap will incorporate TRON on-chain token swap, liquidity mining, Stablecoin Swap, Staking, and self-governance. SUN.io is TRON’s first one-stop platform that incorporates Stablecoin Swap, token mining, and self-governance.
BTC/USD Daily ChartHuobi Token is posting a recovery after its price plunged amid the China crypto ban. This follows as Huobi’s Japanese subsidiary received approval from the local Financial Services Agency to offer crypto derivatives. Huobi Japan is now one of seven crypto exchanges in the country that have successfully registered with the regulators as a Type I financial instruments business.
SOLVE, the native crypto asset of solve. care, established to revolutionize healthcare delivery, care coordination, and benefits administration around the globe is significantly up on the day as the community awaits its big partnership news. The foundation stated on Tuesday ”We have a HUUUUGE announcement coming up on Oct 26th, and we will be having a fun competition for the next 6 days to celebrate it!.”
SOLVE rallied nearly 558% since Oct. 20 to reach highs of $0.52 today.
Hedera Hashgraph (HBAR)’s token has ticked higher since Oct. 18 as USDC made its way into the Hedera Hashgraph ecosystem.
As ProShares ETF ‘BITO’ trading begins, the first-ever exchange-traded fund (ETF) backed by Bitcoin futures has hauled in some $570 million of assets on its first day of trading. The fund also saw about $1 billion of trading volume, ranking it the second-most heavily traded new ETF on record, Proshares said, citing Bloomberg.
Investor interest in the Bitcoin options market increased as Bybt data indicated that the worth of Bitcoin options contracts open on major exchanges rose to $14 billion on Tuesday, hitting the highest point since April. This figure is just a hair away from the record highs of $14.68 billion reached on March 24.
In line with Bitcoin’s recent spike, an Oct. 18 newsletter by data firm Kaiko indicates that Bitcoin’s recent gains took off after the BTC/USDT spot trading pair’s volume spiked around Oct. 10 on Binance, thus pointing to whales activity.
Analysts see that the ETF by itself won’t introduce any new demand for Bitcoin. However, traders might buy more Bitcoin as they look to hedge against the futures price or take advantage of pricing disparities.
Bitcoin traded at $66,825 as of press time.
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