GB Market Commentary 21/10/2021
by Frederick Williams
Bitcoin dumped nearly $2,400 this morning after setting an all-time high of $67,000 last night. The all-time high break came on the back of a futures exchange-traded fund (ETF) going live on Tuesday and seeing over $500 million worth of Bitcoin exposure offered on the first day of its trading. Traders have stepped in this morning to take profits on their gains, sending Bitcoin down by several hundreds of dollars.
Ethereum jumped 8.9% in the past day to over $4,191 this morning, just $125 away from its May 2021 all-time high. Solana and Cardano saw gains of 17% and 7% respectively, and Litecoinseeing a 12% price increase.
Facebook is trying to rebrand to focus more on virtual worlds as it pilots Novi, a crypto wallet that for now facilitates only the Paxos stablecoin USDP.
Bringing digital music to life, the Decentraland Metaverse Festival will welcome 80+ artists across five stages, bringing the crypto community together.