$BTC 24 Hour High $62,532.63
$BTC 24 Hour Low $59,164.47
$ETH 24 Hour High $3,914.90
$ETH 24 Hour Low $3,660.72
Happy Monday from HKbitEX! Highlights from the week:
- $BTC and $ETH continue to soar and have reached their highest price in the last six months
- Criptoloja - the first crypto exchange in Portugal launches its crypto trading services
- Crypto-Focused Equities ETF managed by BetaShares will begin trading on Australian Stock Exchange (ASX) in the coming weeks
- Cathie Wood’s Ark Investment Management and 21Shares has filed with SEC to launch a bitcoin futures exchange-traded fund (ETF)
- Subversive Capital Files Application with SEC for a Metaverse ETF
The $BTC and $ETH market
We have had quite an exciting week here - Bitcoin has soared above the $60K mark, reaching an intraday high of $62,600 for the first time in six months. The uptick was driven by a statement on Bloomberg news last Friday that the U.S. Securities and Exchange Commission (SEC) would allow Bitcoin futures exchange-traded funds (ETFs) to begin trading this week. This may push Bitcoin total capitalisation above $2.5 trillion. Bitcoin is currently up about 11% in the past seven days, and its dominance over the alts stands above 46%. At the time of writing, $BTC is trading at $62,126.9, with $65K as its next major resistance level and $60K as its next key support level.
$ETH wise, the second largest cryptocurrency rallied 10% immediately after breaking its major resistance price area at $3,600. The current consolidation in the price range is between $3,600 and $3,900. From an ETH/BTC perspective, ETH continues to underperform against and the ETH/BTC pair remains within the range of 0.062 to 0.066. At the time of writing, $ETH is trading at $3,861.9 with $4,000 as its next major resistance level and $3,650 as its next key support level.
According to Coinbase last Tuesday (12/10), Criptoloja, the first crypto exchange licenced by Portugal’s central bank, currently launched its crypto trading services allowing investors to buy and sell 94 cryptocurrencies including Bitcoin and Ethereum.
ETF Manager BetaShares announced last Wednesday (13/10), its Crypto Innovators fund (Ticker: CRYP) will start trading on Australian Stock Exchange (ASX) in the coming weeks. The ETF will offer exposure to crypto-focused companies, aiming to track the Bitwise Crypto Industry Innovators Index.
According to a filling with U.S. Securities and Exchange Commission last Wednesday (13/10), Cathie Wood’s Ark Investment Management and 21Shares has applied to launch a bitcoin futures exchange-traded fund (ETF).
Another filing with the U.S. Securities and Exchange Commission last Friday (15/10) revealed that Subversive Capital Acquisition is planning to launch an exchange-traded fund (ETF) mainly investing in the companies that support the infrastructure and applications of the metaverse. Subversive Capital Acquisition has described the metaverse as the next generation of the internet, with the potential to allow creators to build human interaction through immersive experiences in three-dimensional virtual spaces.
Alts & DeFi
Alts and DeFi wise, Defi TVL (Ethereum network) increases to $98.07B at the time of writing. For some well-known tokens, over the week, Yearn Finance ($YFI) recorded 2.79% growth, Aave ($AAVE) is +2.47%, Compound ($COMP) is -1.65%, Uniswap ($UNI) is +4.83 %, Polkadot ($DOT) is +21.45%, Chainlink ($LINK) is +0.19%, Cardano ($ADA) is -3.62%, Polygon ($MATIC) is +15.69% and Solana ($SOL) is +4.65%.