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Buterin’s joke provokes a 5500% rise in the altcoin, and the Russians are trying to unload their savings in the crypt – the main news in the BeInCrypto review
Bitcoin in October was trading in the range of $19,100-19,500 for almost the entire month, briefly falling below $19,000 in the middle of the month. However, at the end of the month, the cryptocurrency quickly recovered above $20,000, trying to gain a foothold at $21,000. The market capitalization of bitcoin rose to $397.8 billion.
Ether (ETH) was able to rise the most in a month by 23.4% to $1618. However, the cryptocurrency could not rise to the September levels of $1,780. Binance coin (BNB), which closes the top three, also rose by 15.5% to $326 in the month, according to Nomics.
The dynamics of the three largest cryptocurrencies by capitalization:
Bitcoin (BTC)
Source: tradingview.com
Source: tradingview.com- Price: $20,725.
- Current market cap: $397.8 billion
- Dominance index: 38.8%.
Ether (ETH)
- Source: tradingview.com
Source: tradingview.com- Price: $1,622.
- Current market cap: $198.3 billion
- Dominance index: 19.3%.
Binance coin (BNB)
- Source: tradingview.com
Source: tradingview.com- Price: $327.
- Current market cap: $53.4 billion
What did readers choose?
Buterin was just joking, and the rate of the new token soared by 5,500%
A new meme token called DIE, which was born at the suggestion of Vitalik Buterin, soared in price by 5500% in just 12 hours. However, many perceive it as a bubble.
Why is it important: Enthusiasts (and attackers) of the cryptocurrency market are still trying to grab any opportunity to get instant profit for a meager investment. Often, tweets of famous crypto market personalities are used for this to legitimize the altcoin pump. However, despite the staggering payback figures, such pumps are rarely sustainable, and often even dangerous for investors.
Does Terra Classic (LUNC) have a future: expert opinions
Many members of the crypto community believe that it was the collapse of the Terra ecosystem that launched the “funnel of death” of projects in the digital asset market. Earlier, the editors of BeInCrypto tried to figure out what the future of the project could be.
Why is it important: Over the past few months, the creator of Terra, Do Kwon, has often been featured in the media as the instigator of the collapse of the cryptocurrency project. Despite the fact that the South Korean authorities are pursuing the top managers of Terraform Labs, the crypto community is trying to revive the scandalous project in an attempt to recoup their investments.
How to cash out cryptocurrency in Russia: top 3 ways and alternatives
The pump of market quotes, combined with unstable political and economic processes and the ban on servicing crypto wallets in the European Union, prompted many Russians to withdraw their cryptocurrency investments.
Why is it important: Cryptocurrencies are often perceived by investors as a tool to save money from inflationary shocks. However, a new escalation of the conflict between the Russian Federation and Ukraine prompted the EU authorities to impose restrictions on cryptocurrency lovers from the Russian Federation, which prompted “weak hands” to quickly sell assets.
What to expect in November
- In November, the trial between the US financial regulator and Ripple may end. Back in March, lawyer Jeremy Hogan, citing court documents from another lawsuit against Ripple, said the firm expects the trial to be completed by November 18.
- Also in November, Filecoin developers will hold a Lotus summit, where they will answer questions from users and present plans for the further development of the project.
Disclaimer
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