Ethereum hits another all-time high as supply declines

03 Nov 2021

SGT 0815
📈 BTC | $63,286 (+$2,479, +4.1%)
📈 ETH | $4,599 (+$284, +6.6%)
📈 XRP | $1.14 (+$0.05, +4.3%)
📈 LTC | $201 (+$1, +0.5%)

📈 Total Crypto Market Cap: $2.74T (+4.0%)

🧐 Ethereum and “Ethereum killers” such as Polkadot and Solana rose strongly yesterday as demand for their use in NFTs and DeFi continue to rise.

🔥 The “burn rate” of Ethereum has turned negative over the last 7 days for the first time ever (More ETH has been ‘burned’ than created). This has been a development long in the making since Ethereum’s London hard fork on 5th August, which incorporated the EIP-1559 improvement.

🇹🇭 Siam Commercial Bank just paid $536 million to acquire the country’s (Thailand) largest crypto exchange Bitkub. Bitkub saw over $30 billion in volume from Q1 to Q3 this year.

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