- Bitcoin erased 2% of its value on Monday and remains hovering around $67,000.
- Ethereum remains above $2,600, down nearly 3% on Monday.
- XRP is trading around $0.55 as holders understand the development of the lawsuit and Elon Musk's reaction to altcoins.
Bitcoin, Ethereum, XRP updates
- Bitcoin is trading above $67,000 on Monday. The largest cryptocurrency by market capitalization lost 2% of its value on Monday, even as the Spot Bitcoin ETF recorded its seventh consecutive day of positive flows.
- Ethereum is trading at $2,669, down 3% as altcoins undergo a correction.
- XRP corrected less than 1% to above $0.55 on Monday as traders digested the Securities and Exchange Commission's (SEC) appeal in the Ripple case and Elon Musk's answers to questions about altcoins.
- Elon Musk commented on the decentralized nature of cryptocurrencies and said he does not support XRP when asked about the token.
Today's chart: Cosmos (ATOM)
Cosmos (ATOM) has been trending lower since its high of $14.585 on March 7th. Technical indicators Awesome Oscillator (AO) and Moving Average Convergence Divergence (MACD) indicate that ATOM price may rise.
The MACD green histogram bar indicates that there is potential positive momentum in the ATOM price trend. The green bar in Awesome Oscillator indicates that ATOM has potential.
ATOM/USDT daily chart
ATOM could find support at the 10-day exponential moving average (EMA) of $4.582. If a correction occurs, ATOM could wipe out liquidity at the October 10 low of $4.043.
Market Latest Information
- Payment processing company Stripe has signed a deal to acquire stablecoin platform Bridge for $1.1 billion.
- Bitcoin hit nearly $70,000 on Monday. Traders are speculating on the possibility of the token returning to its all-time high of $73,777.
- Open interest (OI) in USD-denominated Bitcoin futures has surpassed $40 billion, a record high, according to data from Coinglass.
Bitcoin futures open interest
Industry updates
- Coinbase Assets announced that Flare (FLR), Injective Protocol (INJ), The Sandbox (SAND), and Stacks (STX) are now available to New York residents on iOS and Android applications.
- VanEck, an asset management company, announced that staking functionality has been added to its Solana Exchange Traded Note (ETN). Users will receive staking rewards in their token assets, which will be reflected in their daily terminal value.
VanEck EU is $VSOL Solana ETP (AUM= $73 million)
> Rewards are earned and reinvested daily
> Staking rewards are included in the NAV at the end of each day.
> VanEck manages staking exposure to ensure daily liquidity@vaneck_eu
— Matthew Siegel, CFA Recovery (@matthew_sigel) October 21, 2024
- A cryptocurrency veteran discusses Ethereum vs. Solana in a YouTube video and concludes that Ethereum is the money of the internet.
