Cryptocurrency Market Overview 10.10.2023
New block
1. BTC miners are gaining momentum
In the third quarter of 2023, large-scale mining companies combined their production facilities.
The usual growth has appeared on several sites, including Bitdeer, CleanSpark, Marathon Digital, Cipher, Bit Digital, Bitfarms and HIVE. According to Themminermag, as a result of the purchase of cryptocurrencies, rates in the Bitcoin network increased by 13.88 EH/s from January to September. For comparison: as of October 09, the total scanning speed is about 404 copies/s.
this all happened despite the record summer heat across North America, which forced many miners to turn off their equipment so that more electricity from the grid could be directed to households.
2. Kazakhstan associations in the Base network
The Swiss tokenization company reserve finance has launched a tokenized offer of short-term US government bonds on the base network (a second-level network built on top of Ethereum).
This pop-up message contains the first relevant tokenized asset uploaded to the database.
The bIB01 token, launched in accordance with the Swiss Tokenized Securities Act, is a blockchain-based version of the U.S. Treasury Bond exchange-traded fund (data) regime that offers investors an annual yield of 5.25%. The offer is available to licensed qualified investors and distributors who have passed the "know your customer" and anti-money laundering checks. American investors and organizations are prohibited from buying this token.
Tokenization of real assets (rva) — a general term for packaging traditional financial instruments such as government bonds, stocks or private loans into the form of tokens and placing them in blockchains — has become one of the hottest trends in cryptocurrency this year. According to a report by Boston Consulting Group, the tokenized asset market could grow to $16 trillion by 2030.
US Treasury bonds have proved to be the most in-demand tool for tokenization, as many investors in digital assets, fund managers, crypto firms and decentralized autonomous organizations (Dao) are waiting for such products today due to their high profitability and low risk.
3. Deribit expands the product line
Deribit, the largest crypto-currency exchange, will launch cryptocurrencies for SOL, XRP and MATIC from January 2024, which are replaced by BTC and ETH. In addition, the exchange plans to acquire a brokerage license in the EU.
So far, the deribit in the opioid market is about 85%, and the rest goes to servers including OKX, Binance and Bybit. In total, about 85% of the trading volume for Deribit is generated by ionized clans.
Now the exchange is based in Panama, plans to move to Dubai once, as soon as it gets to match Lienzi.
Overview of the crypto market
🔸 The liquid capitalization of the crypto market is $1.112 trillion
🔸 The bidding value for subsequent purchases is $42.92 billion.
🔸 BTC yield 48.5%
🔸 Yandex pages and thirst:
- today 50, yesterday 50, yesterday 49
where 0 is extreme fear (may be a sign that investors are too scared - often this is a good time to buy), and 100 is extreme greed (the market needs correction).
Yesterday, the prices of digital assets fell amid the escalation of the war in the Middle East. Traders who bet on price increases suffered losses of more than $100 million as a result of liquidations. So BTC decreased by more than 2%, and the value of bitcoin rose to $ 27,600. At some point, THIS indicator decreased by 5%, and cryptocurrencies with a smaller capitalization - SOL, MATIC and DOT reduced the decline by 6-7% (they may have recovered later). the gap>
There are also enough macroeconomic triggers: the September US consumer price index is expected to be published in the coming days. After the unexpected employment data last week, these data have acquired additional importance for the Federal Reserve System.
In the fluid state, the activity in the main-block system is preserved. So in the Bitcoin network, the number of active users on October 8 amounted to 862 thousand, which is the minimum value since August 26. At the same time, BTC stocks continue to decline — by only 5.68% more than BTC is recruited to the Exchange, and this is the lowest level since December 2017:
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