The global cryptocurrency market remains stable over the past 24 hours, with a market capitalization of $2.24 trillion. Total trading volume hit $122 billion, marking a reversal from recent downward trends, with only five cryptocurrencies in the red today.
Crypto Market Update: What’s Driving the Movement?
While most cryptocurrencies were down in recent days, the majority are seeing gains today. Sui (SUI) saw the largest drop, down 6.1% to $1.75, followed by Flare (FLR), which decreased 5.1% to $0.01569. However, on the green side, Beam (BEAM) and Aptos (APT) are leading with gains of 10.8% and 10.7% to $0.0168 and $8.93, respectively.
Top 10 Coins: Positive Momentum
All top 10 cryptocurrencies by market cap are in the green. Dogecoin (DOGE) is the best performer, up 5.4% to $0.10872. Solana (SOL) and Tron (TRX) are also seeing gains of 2.7% and 2.1% to $140.89 and $0.15732, respectively. Both Bitcoin (BTC) and Ethereum (ETH) appreciated slightly, with BTC up 1.6% to $61,607 and ETH up 1.8% to $2,392.
Geopolitical and Regulatory News
Geopolitical risks and upcoming U.S. elections are being closely monitored by macro traders. Notably, Ripple’s expansion in Brazil and the IMF’s renewed call for El Salvador to tighten its Bitcoin regulations are key highlights, reflecting the growing global focus on cryptocurrency regulation.
Industry News: Rhodium Enterprises and Asset Sales
In other news, Rhodium Enterprises, a bankrupt U.S. Bitcoin mining company, received court approval to sell its assets at its Texas location. The company filed for Chapter 11 bankruptcy in August 2024, and its auction process will conclude in November, with bids closing on November 8.
Immutable Passport: Web3 Adoption on the Rise
Sign-ups for Immutable Passport, a Web3 wallet infrastructure for gamers, have surged past 3 million—a 2,500% increase since its launch in early 2024. This uptick coincides with the launch of several new Web3 games, including RavenQuest, Immortal Rising 2, and Monster Tycoon, which have attracted a growing number of players to the platform.
Tetra Trust and Ledgible: Partnership for Enhanced Digital Asset Management
Tetra Trust, Canada’s first licensed digital asset trust company, has partnered with Ledgible, a digital asset tax and accounting platform, to streamline its digital asset reconciliation processes. The integration allows Tetra Trust to ensure accurate balance reconciliation and reporting on staking rewards for its clients, enhancing transparency and trust.
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