A day in the green: 8 of the 10 largest cryptocurrencies are rising, and the top 10 are gaining an average of 1,01%.
Market data as of 20:55 (peninsular time) on 20/10. Prices change continuously.
The key points of the day
- Bitcoin and Ethereum: BTC 73.362 € (+ 0,44 %), ETH €2.166 (+ 1,21 %).
- What moved the most: Pump.fun + 4,28 %, Sui + 2,15 %.
- The reason for the day: The crypto market shows a slightly positive tone: eight of the ten assets observed are up in 24 hours, while two are down.
What has moved the market
Institutional inflows into bitcoin: IBIT recorded $665,16 million in net inflows, described by The Block as a sign of resilient institutional demand. View source
Ethereum and Solana activity and staking at quarterly highs: Bitwise reported net staking inflows in ETH and record highs in staking, transactions and fees in SOL. View source
Crypto institutional infrastructure expansion: NEAR launched a multi-chain treasury platform for enterprises and institutional desks. View source
A moderate recovery in crypto risk appetite, with BTC, ETH and SOL rising in news on October 19-20 (Bloomberg; Yahoo Finance).
Solana received its own catalyst from the imminent activation of the Alpenglow update, highlighted as support for the price of SOL (Yahoo Finance).
Left (LEFT) It goes up 1,53%
Solana goes from €92,71 to €94,13 in 24 hours.
- Solana rose supported by the expectation of the Alpenglow upgrade, whose activation was scheduled for October 21 and was presented as a catalyst for SOL against XRP.
- Bitwise's report highlighted record staking on Solana, 14,2 billion transactions in the quarter, a 45% quarter-over-quarter increase and a 49% increase in network fees; the connection to the 1,53% rise is inferred and not explicitly stated by the source.
Sources: Yahoo Finance · Bloomberg · The block
To understand it better: What is Solana?, at Bit2Me Academy.
Ethereum (ETH) It goes up 1,21%
Ethereum drops from €2.140 to €2.166 in 24 hours.
- Ethereum followed the rebound of the overall crypto market; Bloomberg noted that Ether rose as much as 4,1% in the same session in which the risk tone improved.
- Bitwise reported net staking inflows of nearly 2 million ETH in the third quarter and a record 43,8 million ETH locked; this is a positive fundamental, but the source does not claim that it directly caused the 1,21% rise.
Sources: Bloomberg · Yahoo Finance · The block
To understand it better: What is Ethereum?, at Bit2Me Academy.
Near Protocol (NEAR) falls 1,06%
Near Protocol drops from €4,42 to €4,37 in 24 hours.
Possible factor, unconfirmed:
- NEAR launched NEAR Business, a multichain treasury management platform for Web3 companies, institutional desks and funds, with support for more than 35 networks; the source does not quantify its impact on the price, so the connection with the 1,06% drop is not solid.
Sources: BSC
To understand it better: What is Near Protocol?, at Bit2Me Academy.
Bitcoin (BTC) It goes up 0,44%
Bitcoin drops from €73.039 to €73.362 in 24 hours.
- Bitcoin rebounded during the session as risk appetite recovered in the markets; Bloomberg reported that it rose as much as 2,7% and traded again near $82.000-$83.000 in New York.
- The net inflows of $665,16 million into BlackRock's IBIT spot ETF were described by the source as a sign of resilient institutional demand for bitcoin; the connection to the 0,44% advance is consistent, although the news does not explicitly attribute the entire price movement to that inflow.
Sources: Bloomberg · Yahoo Finance · The block
To understand it better: What is Bitcoin?, at Bit2Me Academy.
The rest of the top
Arbitrum (-2,02%) fell without any specific news on the horizon, bucking the trend of the rest of the market. Pump.fun (+4,28%), Sui (+2,15%), Hyperliquid (+1,91%), XRP (+1,13%), and Litecoin (+0,56%) rose without any identified catalyst.
Top 10 Prices
| Criptomoneda | Price | 24 h | Operate |
|---|---|---|---|
| Bitcoin BTC | 73.362 € | + 0,44 % | Operate |
| Ethereum ETH | 2.166 € | + 1,21 % | Operate |
| XRP | 1,18 € | + 1,13 % | Operate |
| Solana SOL | 94,13 € | + 1,53 % | Operate |
| Near-Protocol NEAR | 4,37 € | -1,06% | Operate |
| Arbitum ARB | 0,17 € | -2,02% | Operate |
| Sui | 0,90 € | + 2,15 % | Operate |
| Pump.fun PUMP | 0,00 € | + 4,28 % | Operate |
| Litecoin LTC | 53,68 € | + 0,56 % | Operate |
| Hyperliquid HYPE | 71,01 € | + 1,91 % | Operate |
Today's news
Solana shows operational strength according to Fidelity report
Solana has accumulated two years without interruptions on its main network, although Fidelity warns about the concentration of validators and software clients.
Stablecoins: The BIS is considering halting its progress in response to bank interest rates.
A BIS study reveals that raising savings rates by 1 basis point reduces the ten-week growth of stablecoins from 15% to 12% in the market.
Bitcoin ETF: Outflows of nearly $1.000 billion in two weeks
US spot Bitcoin ETFs have seen outflows of nearly $1.000 billion in two weeks, putting pressure on market behavior.
Banks are slowing the advance of stablecoins with interest rates
A BIS report reveals that interest rates on bank deposits are slowing the growth of stablecoins like USDC compared to the traditional financial system.
Google Willow: quantum leap and the challenge for Bitcoin
Google's Willow processor reduces quantum errors by 40 times and reopens the debate on the security of old Bitcoin addresses.
Crypto market today: the latest summary and archive for the last 30 days
Generative artificial intelligence tools were used to create this article.
