Altcoins catching up to Bitcoin as crypto market consolidates

14 Oct 2021

SGT 0815
📈 BTC | $57,409 (+$439, +0.8%)
📈 ETH | $3,630 (+$56, +1.6%)
📈 XRP | $1.13 (+$0.02, +1.9%)
📈 LTC | $178 (+$2, +1.3%)

📈 Total Crypto Market Cap: $2.36T (+2.7%)

🚢 Cryptocurrency margined crypto futures are declining in proportion against cash margined crypto futures. The potential implication of this is a decline in market volatility – as liquidations in crypto-margined futures tends to cause the value of the collateralised cryptocurrency to rise or plunge as well (as opposed to a liquidation in cash-margined futures).

⛏ The USA is now the “largest” crypto mining country in the world, with China’s share effectively dropping from over 60% earlier this year, to virtually zero. Since China’s crypto miningcrackdown in June, crypto miners have interestingly been expanding in several locations simultaneously, likely wary of further crackdowns crippling their entire operation at once.

🏦 The amount of crypto locked into Decentralised Finance (DeFi) protocols has risen past $200 billion, having doubled since June.

🎉 Polkadot’s (DOT: +18%, Ethereum competitor) parachain auctions, where projects are allocated limited slots for on the Polkadot network based on “voting” by holders of DOT tokens, is now set for the 11th of November.

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