In this episode of Coin Street headlines, we dive into the latest developments in the cryptocurrency market. Bitmine has made headlines as the world’s largest corporate ether holder, aggressively buying the dip and pushing its total ethereum holdings past 3 million, which accounts for about 2.5% of the total supply. We discuss the implications of the ongoing U.S. federal government shutdown, which has now entered its third week, leaving 16 exchange-traded funds (ETFs) in limbo as the SEC’s decisions are delayed. Strategy has also made a bold move by increasing its bitcoin holdings to over $73 billion, purchasing 220 Bitcoin at an average price of $123,500 each, marking the highest price paid per bitcoin by the firm. Lastly, we analyze how recent market events, including Friday’s flash crash, may impact short-term risk appetite and the potential for a Bitcoin rally, alongside the effects of U.S.-China trade talks and regulatory concerns. Jane King with the latest from the NYSE.
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Here's a look at your Coin Street headlines.
Bitmine, the world's largest corporate ether holder, capitalized on this weekend's crypto market crash to buy the dip.
The company said it acquired ether more aggressively during the market turmoil, pushing its total holdings past 3 million Ethereum, or about 2.5% of the cryptocurrency's total supply.
The mine's average purchase price was $4000. $154 per token.
Well, America's federal government has entered its third week of shutdown, leaving as many as 16 exchange traded funds awaiting approval should the shutdown continue into November.
The crypto industry was set for a flood of ETFs in October, with the SEC set to make their final decisions on at least 16 crypto ETFs and another 21 applications filed in the first.
8 days of October, but the shutdown has left everything in limbo, with deadlines passing and no action taken.
Strategy bought additional Bitcoin, raising its holdings to over $73 billion after months of tapering off its purchases.
The firm purchased 220 Bitcoin at an average price of $123,500 per coin, a total $27 million investments at Is the highest price paid for Bitcoin by strategy.
Now Strategy's Bitcoin Holdings now total more than 640,000, and that's 3% of the total Bitcoin tokens in circulation.
Friday's flash crash reduced short-term risk appetite and may have even delayed a new all-time high by weeks or months.
U.S.China trade talks could delay Bitcoin's rally, as could liquidity gaps and regulatory security, and that's the latest Coin Street headlines.