Crypto News: Bitcoin Soars, Ether Scales All-Time High

In the latest edition of crypto news updates, Bitcoin prices edged past the $62000 mark today before dipping. It stands currently at $61411.00. The world’s biggest crypto by market capitalization is trading slightly higher(1.12%) in comparison to its previous day prices. Bitcoin prices rose over 40% in the month of October. With a market cap of $1.17 trillion, this is the cryptocurrency’s best performance since February. The high valuation arrives with the debut of 2 US futures-based ETFs.  Bitcoin ETFs gathered a serious buzz, generating over $1 billion USD.

Also Read: SEC Nods to First US Futures-based Bitcoin ETF Launch

Ether Sets Off New Records

Ether, the world’s second-largest virtual currency, hit a record high at USD $4432. The cryptocurrency associated with the Ethereum blockchain rallied 6.32% within a 24 hour period and 11.31% gain within a week. Current 1-day trade volumes stand at $25.54 billion. Ether’s movements draw a similarity with Bitcoin scaling past its all-time high $67000 mark in the previous week. Experts suggest these highs are a result of investments following an increasing global adoption and legalization of cryptocurrencies.

Also Read: Ukraine Legalizes Cryptocurrency Accelerating Crypto Trade

Shiba Inu Soars Over 160% within a Week

While Ethereum’s jump can be attributed to a recent technical upgrade, one of the biggest movers was the meme-based crypto- Shiba Inu. A sarcastic spin-off of Dogecoin, Shiba Inu’s price escalated by over 163.33% within a week. Its price stood at $0.00007332, a 1.94% gain over a 24 hour period. Dogecoin itself also rallied up 20.05% in a week, dropping to $0.2883 as last noted.

Other Crypto News Updates

October has been a good month for virtual assets altogether. Binance Coin jumped 6.53% to $519.14 while Cardano stands at $2.03. Other popular cryptocurrencies also increased by 2-3%. Solana has a current market valuation of $201.99, while XRP and Polkadot are valued at $1.08 and $43.39 respectively.