News recap: ETF boom in the crypto market

Crypto market in numbers

From 3rd November, the capitalisation of the cryptocurrency market has grown by 11.6% to $1.44 trillion, according to CoinMarketCap. The indicator continued its confident growth, with such values last observed in May 2022.

Trading activity has significantly increased. Between 3rd-11th November, average daily volumes surged by 87.6% to $97.7 billion. Later, the indicator corrected slightly, but from the 14th November, average daily volumes stabilised in the range of $65 – $70 billion. It appeared that traders were returning to active trading.

The cryptocurrency Fear and Greed Index has not left the “Greed” zone since 3rd November. The indicator did not drop below 60 points. Notably, the index reached a multi-year high of 74 points. Such values were observed only in November 2021.

Volatility in cryptocurrencies has shifted to altcoins. From 3rd November, the 30-day volatility index for BTC decreased by 0.4%, from 2.12% to 2.11%. A similar indicator for ETH increased by 31.4%, from 1.14% to 1.64%.

The cryptocurrency market continued its confident growth despite the expectations of many analysts. While BTC was in a relatively narrow price range, altcoins, on the other hand, were growing significantly. It seems that the local “altseason” has finally arrived.

Cryptocurrencies are becoming less responsive to U.S. economic data. The Federal Reserve’s interest rate and CPI had relatively calm effects on BTC and the market. Despite overly positive sentiments in the market, it is worth reminding investors about risks – any strong price movement sooner or later ends with a correction.

All Time High

Gainers (1st – 14th November)

Losers (1st – 14th November)

Easily track gainers and losers within the Simple trade section on EXMO.com. Check real-time updates in the last 24 hours, week and month.

Most traded coins (1st – 14th November)

Top crypto market driving factors

Overall сrypto market

▲ 03.11.2023 – DWS Group, managing client assets totaling $900 billion, is preparing to launch cryptocurrency ETF trading.

▲ 06.11.2023 – Hong Kong’s SFC is considering the possibility of providing retail investors with access to spot crypto ETFs.

▲ 06.11.2023 – The capitalisation of stablecoins in October increased by over $600 million.

▲ 06.11.2023 – Santiment notes that many altcoins are catching up and showing growth while bitcoin remains stagnant after the rally.

▼ 08.11.2023 – Wallets associated with FTX and Alameda moved assets worth $50.5 million.

▲ 08.11.2023 – Circle Internet Financial (USDC issuer) is considering going public on the stock exchange in early 2024.

▲ 09.11.2023 – In the last 24 hours, the total amount of liquidations amounted to $444.24 million, with the majority being long positions.

▼ 09.11.2023 – JPMorgan analysts expressed doubts about the sustainability of the cryptocurrency market growth, stating that the “cryptocurrency rally looks excessive.”

▲ 09.11.2023 – Ark Invest announced plans to launch 5 new ETF products in collaboration with 21Shares, including BTC and ETH futures ETFs, as well as products related to investments in blockchain companies’ stocks.

▲ 09.11.2023 – CCData recorded an increase in spot volumes in October. The aggregate indicator grew to $632 billion, which is 87% more than in September.

▲ 13.11.2023 – Tether is preparing to launch 5 new projects in 2024. The company’s CEO stated that some of them are capable of “destroying popular centralised Web2 services.”

▲ 13.11.2023 – Whale activity in blue-chip cryptocurrencies has reached a six-month high.

▲ 14.11.2023 – Inflation in the United States was 3.2%. Analysts expected 3.3%.

▼ 15.11.2023 – JPMorgan notes that the fundamental reasons for the continuation of the crypto rally are currently not strong.

▲ 15.11.2023 – According to Nansen, the number of traders interacting again with protocols has been increasing since October, indicating a resumption of market activity.

▼ 15.11.2023 – Long positions worth $264 million were liquidated in the last 24 hours.

Bitcoin (BTC)

▲ 03.11.2023 – In the third quarter of 2023, there were more than 40 million transactions processed on the Bitcoin network.

▲ 05.11.2023 – Over 700,000 new Bitcoin addresses were created in a day.

▲ 06.11.2023 – Bitcoin’s hash rate reached 600 exahashes per second.

▲ 07.11.2023 – WisdomTree added bitcoin to its Commodity ETF (Enhanced Commodity Strategy Fund). This fund allocated 5% of its assets to bitcoin.

▲ 08.11.2023 – Bitcoin’s blockchain surpassed Ethereum in terms of daily NFT trading volume, showing a growth of +34%.

▼ 08.11.2023 – Miners sold more BTC than they mined during the October market rally.

▲ 12.11.2023 – In the Bitcoin network, 505 thousand new NFTs were created based on the Ordinals protocol, setting a historical record. Along with this, the total number of such tokens exceeded 40 million units.

▲ 13.11.2023 – Bitcoin mining difficulty reached a new record level at 64.68 T. The current average hash rate is 456.59 EH/s.

▲ 15.11.2023 – The volume of bitcoins held for over a year set a historical maximum. Currently, 70% of the supply of the first cryptocurrency is concentrated in investors’ hands.

▼ 15.11.2023 – In the last month, over 34,000 BTC were sent to cryptocurrency exchanges, totaling $1.12 billion.

Ethereum (ETH)

▲ 08.11.2023 – Over the past week, the queue for new validators in the Ethereum network was empty only once on 2nd November.

▲ 09.11.2023 – A spot Ethereum ETF registration application from BlackRock (iShares Ethereum Trust) was noticed in the network.

▲ 10.11.2023 – Trading volumes with ETH reached a one-year high.

▲ 10.11.2023 – The number of ETH addresses with less than 0.1 ETH exceeded 100,000.

▲ 10.11.2023 – Nasdaq submitted a form for the listing of a spot ETH-ETF from BlackRock.

Ripple (XRP)

▲ 06.11.2023 – Santiment notes a surge in discussions about XRP, as well as a sharp accumulation of the token by large wallets.

▲ 08.11.2023 – Ripple reported growth in the Ripple Payments business.

▲ 08.11.2023 – Ripple expands money transfers between Africa, Gulf countries, Britain, and Australia.

▲ 13.11.2023 – The XRP price increased by 15.4% in 30 minutes after the news of BlackRock filing an application to launch an XRP-ETF.

▼ 13.11.2023 – The news about the XRP-ETF from BlackRock turned out to be fake. The price returned in the previous range.

Solana (SOL)

▲ 10.11.2023 – Solana has been collecting twice as much in fees over the past 30 days. The growth is not in terms of the size of fees, but in the number of transactions.

Cardano (ADA)

▲ 03.11.2023 – The activity of Cardano addresses and whale transactions reached a three-month high.

▲ 07.11.2023 – In October, whales increased their assets to 1.89 billion ADA, which is over $600 million. The majority of accumulation occurred in the range from $0.249 to $0.271.

Chainlink (LINK)

▲ 09.11.2023 – Chainlink announced the launch of staking v0.2. Public access will open on 11th December.

Tezos (XTZ)

▲ 07.11.2023 – Auction house Millon will use the Arteïa blockchain and Tezos for authenticating art sales.

▲ 14.11.2023 – Tezos announced a partnership with the Decathlon network.

FLOKI (FLOKI)

▲ 03.11.2023 – The community voted to reduce the current transaction fee from 5% in the new TokenFi platform token to 0.3%.

▲ 09.11.2023 – TVL in Floki staking exceeded $64 million (2 trillion tokens). This is 20% of the total supply volume locked for a period of up to 4 years.

▲ 09.11.2023 – The NFT project, Floki Valhalla, will be launched within 8 weeks on the main network.

▲ 14.11.2023 – TVL in Floki continues to grow, adding another $7 million since 9th November. The indicator reached $72.9 million.

EXMO.com news

New listing on EXMO.com: the meme token BCONG is now available for deposits, withdrawals, and trading paired with USDT.

Twelve new trading pairs with USDT are already available on EXMO.com: trade with a stablecoin and secure profits in any market situation!

EXMO.com delisted DEBT, GMT, GNY, IQN, LYO and ROOBEE: deposits and trading in pairs with these currencies are no longer available

EXMO.com delisted fifteen trading pairs: from 10th November trading in them as well as deposits are no longer available