Positive sentiment fuelled the crypto market this week, topped by news that the US Securities and Exchange Commission will approve the first futures-backed BTC exchange-traded fund (ETF). Both BTC and Ethereum surged to highs not seen since April and both are within striking distance of their all time highs (just over $63,000 for BTC and just under $4,200 for Ethereum). The entire market gained about $90 billion in marketcap over the past week, setting the stage for what looks to be an exciting fourth quarter bull run.
Among the top altcoins, Polkadot (DOT) was the clear winner this past week surging some 20% after the project announced that the much-anticipated parachains are ready to be deployed on its mainnet. BNB rose some 10% on the week (surpassing Cardano to become the third largest cryptocurrency by marketcap) on the back of news that Binance - the world’s biggest cryptocurrency exchange - will launch an accelerator fund worth a staggering $1 billion this week. The funds will go toward supporting the development of the Binance Smart Chain ecosystem. Meanwhile in the traditional finance world, dinosaur HSBC is set to become the first bank to introduce SWIFT payment pre-validation (an impressive enhancement of the 40-year-old SWIFT system). What innovation!
Below is a quick wrap of other crypto stories that made headlines over the past week, followed by the coins that we have been eyeing or buying over the week. But first, our disclaimer needs to be noted: the information provided here, as well as on our website (coinpad.io), does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the content as such.
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Weekly news wrap
Let’s start with the week’s top stories on crypto adoption and the flow of institutional money into the sector:
Why the launch of Europe’s first Bitcoin ETF is good news for mainstream adoption
NBA’s Sacramento Kings Partners with Ankr to Support The Growth of Blockchain Industry
Salvadoreans are now selling ‘way more’ US Dollars to buy Bitcoin
Here is an interesting analysis on the altcoin market, arguing it will significantly outperform Bitcoin:
And finally, here are some coin specific articles of interest:
Cardano Founder Charles Hoskinson To Tour Africa, Here’s Why
Mark Cuban says ethereum has the ‘most upside’ as a crypto investment
XRP may be U.K’s ‘retail darling,’ but what does that mean for its price
Coinpad’s Plays
It ain’t sexy, but we’ve been focusing on stable-coin accumulation this past week, namely BUSD. Why? We are eyeing a soon-to-be-launched yield farm that we believe has an amazing, if not revolutionary, concept with carefully crafted tokenomics literally designed for the native token to go up in value. As such, we will be buying the public-presale of the native token and then we will farm the token with BUSD. Stay tuned for more details in our next weekly wrap, as well as on our website, as the launch is still more than a week away. In the mean time, here is something that is sexy:
LET”S GET READY TO FARM!