October 2024 has come to an end, and it’s time to talk about the most prominent news of the past month:
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Electronic Money and US Elections: The crypto industry is actively supporting US presidential candidates, with particular attention to Donald Trump and Kamala Harris.
The cryptocurrency industry is actively participating in the 2024 US presidential campaign, supporting various candidates. Donald Trump and Kamala Harris have received significant support from crypto investors. The reason for this support is their promises to implement more favorable legislative conditions for cryptocurrencies and blockchain. Some analysts believe that the election results could significantly impact the future regulation of cryptocurrencies in the US.
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Market Capitalization Growth: The cryptocurrency market grew by 8% in September 2024, supported by positive macroeconomic news from the US and China.
The cryptocurrency market showed an 8% growth in September 2024, driven by positive macroeconomic news from the US and China. The US economy recovered faster than expected, and China announced new investments in blockchain and central bank digital currency (CBDC). This attracted new investors to cryptocurrencies, supporting market price growth.
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ETFs and Bitcoin: ETF funds related to Bitcoin attracted significant investments, contributing to the rise in cryptocurrency prices.
Exchange-traded funds (ETFs) related to Bitcoin continue to attract significant investments. In October 2024, several large investment companies announced the launch of new Bitcoin ETFs, sparking interest from institutional investors. This contributed to the rise in Bitcoin prices, which reached new highs. ETFs provide investors with a convenient way to invest in Bitcoin without the need to buy and store the cryptocurrency directly.
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Increase in the Number of “Whales”: The number of “whales” (network entities holding at least 1,000 BTC) increased by 11.68% compared to the beginning of the year.
The number of “whales” continues to grow. In October 2024, their number increased by 11.68% compared to the beginning of the year. This indicates that large investors continue to accumulate Bitcoin, which may be a sign of confidence in the long-term growth of the cryptocurrency. Experts believe that active purchases by “whales” could affect market liquidity and create additional upward pressure on prices.
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