Top 5 Crypto News of the Week! (14 - 20 October)
Dear PointPay Family,
We have a whole week behind us - it's time to take another look at its main events and news! Find out about the key changes in the cryptosphere in our top 5 news!
Bitcoin's bullish momentum: approaching $68,000
Bitcoin has surged to its highest level since July, briefly touching $68,257. This movement marks a potential shift in market sentiment after a prolonged 220-day decline. Although breaking through the $67,000 barrier is a bullish signal, traders remain cautious. Maintaining this price or rising further could pave the way for more upward trends. However, stability above $67,000 is key for reinforcing market confidence.
Tesla moves $765M in Bitcoin to new wallets
In a significant move, Tesla has transferred nearly $765 million worth of Bitcoin to unknown wallets. According to Arkham Intelligence, these wallets are not linked to any known exchanges, suggesting no immediate sale plans. Tesla's Bitcoin holdings have been largely untouched for two years. The move follows earlier sell-offs by the company, which previously reduced its Bitcoin position in 2021 and 2022. Tesla has yet to comment on this latest development.
BlackRock Bitcoin ETF attracts nearly $1 billion
BlackRock’s Bitcoin ETF has seen impressive investor interest, leading to nearly $1 billion in inflows over two days. This surge has pushed Bitcoin closer to the $70,000 resistance level, with the cryptocurrency rising to $68,257. According to experts, this significant influx reflects a renewed optimism among investors, placing BlackRock’s ETF among the few funds launched in 2024 to reach such milestones.
Crypto adoption hits record highs in 2024
Cryptocurrency usage reached new heights in 2024, according to Andreessen Horowitz's "State of Crypto" report. With over 29 million monthly users of mobile crypto wallets in June, adoption continues to grow worldwide. The US still holds the largest share, but countries like Nigeria, India, and Argentina are quickly catching up. The report also highlights growing DeFi usage and improved infrastructure, which have significantly reduced transaction costs.
USDT surpasses 330 million wallets and accounts in Q3 2024
Tether’s USDT has reached 330 million on-chain wallets and accounts by Q3 2024, reflecting the stablecoin’s broad adoption. Tether also noted an additional tens of millions of users on centralized platforms. Tether’s expanding user base highlights the increasing global demand for stablecoins.
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