Key Takeaways

• BTC reached its all-time high on Wednesday at $67,016. It then retreated with an overall decrease of around 1% throughout last week. Meanwhile, after its official listing last Monday, Proshares’ Bitcoin (BTC) future ETF has already been trading close to the allowed limit in futures contracts. (ref)

• PIMCO, a $2 trillion asset management company, has decided to step up its portfolio in crypto investment to tailor their customers’ preferences. To find out more, please refer to our monthly article: Institutional adoption of DeFi.

• CoinMarketCap reported a leak of 3.1 million user email addresses by the act of hacker(s). Even though the company’s investigation stated that the hackers did not gain access to any of the account passwords, the company is still identifying the exact cause of the hack.

• Robinhood has added Shiba Inu (SHIB) in their survey to clients, according to Shiba Inu news. This might hint at Robinhood planning to add SHIB to its platform. The market reacted accordingly last week, with SHIB’s price going up by more than 50%. Meanwhile, Vlad Tenev, the CEO of Robinhood, confirmed that more than one million people have already signed up for Robinhood’s newly revealed cryptocurrency wallet waitlist. (ref)

• The general price index and the volatility indexes increased by +0.52% and +49.06% respectively, while the volume index decreased by -4.09%.

Highlights

• Bitcoin futures ETF debuts with highest ever first day 'natural' volume of $1B

• VanEck set to become second Bitcoin ETF in the U.S.

• $2 trillion asset management firm PIMCO plans to expand crypto investment

• Brazil central bank report: citizens purchased $4.2 billion in crypto in 2021

• New York joins crackdown on crypto lending, seemingly targeting Nexo and Celsius

• Malta financial watchdog approves Iconic's crypto index fund for stock market listing

• Aussie Senate committee proposes overhaul of crypto taxes, DAOs, and exchange licenses

• Polygon avoids losses worth $850M; pays out $2M for disclosing vulnerability

• Binance Smart Chain to introduce fee burning mechanism

• Solana’s Wormhole user interface support for Terra (LUNA) has arrived

• Polkadot (DOT) founder announces $774 million development fund for DeFi

• Hong Kong blockchain game maker Animoca hits $2.2 billion valuation amid NFT mania

Check the latest prices on crypto.com/price.

Notable events

Vitalik Buterin has swapped DOGE for Etherum (ETH), Curve Finance (CRV), and Fantom (FTM). (ref)

600,000 Ethereum (ETH) has already been burned due to the activation of the London Hardfork scheme, EIP 1559. (ref)

Associated Press is working with Chainlink (LINK) to put its journalism on a blockchain. (ref)

Formula 1 McLaren Racing is having its new NFTs platform built on Tezos (XTZ). (ref)

Founder of Polkadot (DOT) sets aside $774 million for DeFi research. (ref)

Stellar (XLM) and Wyre Inc. are co-hosting the Money 2020, a forum of payments and financial services innovation, in Las Vegas. (ref)

Notable events

Societe Generale, a major investment bank, is initiating a borrowing proposal through MakerDAO (MKR) to fund its refinancing position of the tokenised bonds. (ref)

Unknown whales have accumulated a quarter of the supply of Chainlink (LINK). (ref)

New crypto lending platform Sublime Finance will accept Compound (COMP) as a collateral. (ref)

Balancer Labs (BALANCE) has joined hands with Gnosis Protocol to launch the  Balancer-Gnosis-Protocol (BGP), a new decentralised exchange platform. (ref)

Synthetify, a decentralised synthetic assets platform, has added Ren Protocol (REN) as a collateral asset. (ref)

Notable events

The Worldwide Asset eXchange (WAX) is partnering with Hasbro Inc. on a Power Rangers NFT Collection. (ref)

Dapper Labs (FLOW) will serve on the board of directors at Concept Art House, a professional studio providing art services for popular gaming studios. (ref)

Illuvium (ILV) is an official partner of the new play-to-earn game Fancy Birds. (ref)

Yield Guild Games has purchased a total value of $1 million NFTs of Star Atlas (ATLAS). (ref)

A Halloween special to carve a Shiba Inu (SHIB) related pumpkin is running. (ref)

Dogecoin (DOGE) price jumps again following a tweet from Elon Musk. (ref)

Thank you for reading! We hope you find our Weekly Market Update enlightening!

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