The Crypto market had an amazing week. Bitcoin reached a new all-time high on October 20th crossing $66k. Followed by Bitcoin’s lead, Altcoins started to move as well. Ethereum reached $4.000 and Solana is up 25% this week. The total crypto market cap is now $2.5 trillion!
Crypto Adoption
Source: finance.yahoo.com
The first-ever Bitcoin ETF is launched on Tuesday 20th of October. It’s a huge deal for Bitcoin mainstream adoption. The ProShares Bitcoin Strategy ETF is listed on New York Stock Exchange under the ticker symbol “BITO”. It needed no more than 2 days to reach $1 billion in assets under management (AUM) which is the fastest fund ever to reach that milestone.
Bitcoin
Russia is getting seriously interested in Bitcoin. After Putin said crypto has value, Russian oligarch Oleg Deripaska noted: “Bitcoin is a reality. Either we accept it, or we will lose.” The Russian government is also considering mining Bitcoin with associated petroleum gas, according to Cointelegraph.
Business
One of the most recognized websites for cryptocurrencies, CoinMarketCap, has become the most recent victim of a hacker attack. Allegedly, 3.1 million user email addresses from the CoinMarketCap userbase were found to be sold online. However, in CoinMarketCap’s most recent message to users, they said that the leak did not come from their servers and did not include the users’ passwords.
Social media platform Reddit is looking to hire Senior Backend Engineer for NFT Platform indicating that they might be launching their own NFT marketplace. It could be a huge thing considering Reddit’s community and crypto involvement.