Forbes - 🎯 Price target: $69,420

CryptoCodex


	Good Tuesday morning. Billy Bambrough here with what's driving the day in the world of bitcoin and crypto.


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24-hour crypto market snapshot

$67,663

$4,778

$2.30

$248.37

Mooning 🌚


	Cryptocurrency prices have rocketed higher over the last 24 hours, with both bitcoin and ethereum hitting fresh all-time highs. Bitcoin climbed over $68,500 on some exchanges, while ethereum broke $4,850. The rally, lifting most other major cryptocurrencies, failed to see the combined crypto market top $3 trillion on CoinMarketCap—peaking at $2.95 trillion before falling back slightly. Bullish traders will likely have another run at it today, with the many giving bitcoin a meme price target of $69,420. Cardano, after struggling since an early September upgrade, has performed the best of ethereum's many rivals over the last 24 hours, clocking a 12% rally and arresting a decline that had seen it fall over a third from its all-time highs. Litecoin, often called the silver to bitcoin's gold, has also surged, adding 18% since this time yesterday. Litecoin has slipped down the crypto rankings in recent years, as ethereum rivals, memecoins and stablecoins have proliferated. Litecoin is currently ranked as the 18th most valuable cryptocurrency on CoinMarketCap with a market capitalization of $17 billion. Now read this: Elon Musk shows how crypto may start ruining stock traders' weekends

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👀 All eyes on Coinbase


	Coin bae: Cryptocurrency bellwether Coinbase, one of the world's biggest crypto exchanges that made its stock market debut to huge fanfare earlier this year, will report its third-quarter financial results today after the market close. Trading volumes and revenue are thought likely to be top of mind for investors after the San Fransisco-based company warned in last quarter’s earnings report that monthly transacting users and trading volume were set to fall. An investor call is scheduled for 5:30pm ET. You can tune in here. Why it matters: Coinbase, boasting almost 70 million verified users around the world, is one of the crypto market's major on-ramps. Its active users, trading volumes and fees are an indicator of interest in the crypto market broadly. Coinbase said last month it's planning to launch a marketplace for creating and trading wildly popular non-fungible tokens (NFTs) ahead of Facebook's Meta reveal that could see the social network implement such digital tokenization. KPIs: "Coinbase’s platform trading volumes are a key metric given the majority of company revenue comes from retail and institutional trading fees," John Todaro, a research analyst at New York-based Needham & Co, told clients in a note reported by Coindesk. Needham currently has a buy recommendation on the stock. Coinbase is expected to report third-quarter revenue five times what it was a year ago, with the company set to post $1.57 billion in revenue and $1.68 in earnings per share, according to analysts polled by Bloomberg. Estimates have inched up over the last month, partly due to Coinbase shooting back up the Google Play app store. Pegged: The bitcoin price and wider crypto market's fortunes have dictated Coinbase's stock price since its market debut in April. Coinbase shares have surged along with the bitcoin price in recent weeks and are now trading at an all-time after slumping over the summer. The bottom line: Coinbase stock is still moving like a crypto market exchange-traded fund but it's keen to diversify. Now read this: The metaverse can’t go mainstream without brick-and-mortar stores

Shib goes to Hollywood 🎥



	The $1.2 trillion infrastructure bill is now headed to U.S. president Joe Biden's desk for his signature Getty Images


	🍿 The world's largest theater chain AMC, on track to begin accepting bitcoin, ethereum, litecoin, and bitcoin cash before the end of 2021, could support dogecoin by the first quarter of next year and its viral doge-based rival shiba inu "the next one on our cryptocurrency hit parade," according to CEO Adam Aron. 🗺️ AMC is also exploring the creation of its own cryptocurrency, Aron said on a call with investors after reporting its third-quarter results, as the company looks to encourage meme investors that have sent AMC stock soaring over 2,000% since January. 🗣️ "I can confirm today that we have been exploring with third parties over the past few months both how we can accept cryptocurrency and if it is feasible for AMC to consider even launching our own cryptocurrency," Aron said in comments reported by The Verge. "Similarly, I can confirm to you today that we are now in conversation with multiple major Hollywood studios about the concept of joint venturing commemorative NFTs related to major film titles that show in our theaters." Good to know: Mastercard Teams Up With Three Asian Crypto Companies To Launch Bitcoin Payment Cards

	Billy Bambrough
	Forbes Senior Contributor

I am a journalist with significant experience covering technology, finance, economics, and business. I write about how bitcoin, crypto and blockchain can change the world.

Follow me on Twitter or email me.

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Forbes - 🎯 Price target: $69,420

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