Bitcoin returns to $1 Trillion asset as BTC price blasts to $55K

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Weekly Market Summary

For the first time since May of this year, Bitcoin overcame the benchmark of $55 000. After this rise , however, it rolled back to $54 000. During the day, the top cryptocurrency rose 9%, and its capitalization exceeded $1 trillion. BTC Whales bought $1.6 billion worth of BTC via market orders in just 5 minutes.

The President of El Salvador Nayib Bukele claimed on his Twitter page that users of the Chivo Bitcoin wallet in El Salvador will receive a discount on fuel payments (a $0.6 discount for 10 liters of gas). By promoting the wallet for the digital gold in this way, the president hopes BTC will help El Salvador bypass a global financial system and worm its way out of a deep pandemic recession.

Payment giant Visa has developed a concept called the Universal Payment Channel (UPC), which will allow exchanging various CBDCs built on different blockchains in the future.

As part of the development of the UPC concept, Visa deployed its first-ever sample of a smart contract on the Ethereum Ropsten testnet.

Quick weekly news:

• Bitcoin returns to $1 Trillion asset as BTC price blasts to $55K
• Biden Administration Seeks to Regulate Stablecoin Issuers as Banks
• Supposed 17-year-old artist sells $138,000 worth of fake NFTs and disappears
• Tinder Rolls Out In-App Currency to Encourage Real Spending

Other notable events include:

– Binance NFT Launches NFT Collection
– 1000 BTC coin has become the most valuable numismatic item in the world

Binance NFT Launches NFT Collection From The Legendary DC & Marvel Comic Book Artist

The Binance NFT Marketplace announced the launch of the ‘Enter The Satoshiverse’ NFT Collection.

The creator and curator of this collection is José Delbo – the top-selling comic artist best known for his work with DC and Marvel Comics

Trades will be available from October 7, 14:00 to October 12, 14:00.

Each NFT in the collection tells the story of Satoshiverse, a universe of blockchain superheroes, exploring blockchain topics such as centralization, security and corruption in global financial markets.

1000 BTC coin has become the most valuable numismatic item in the world

Back in 2011, an investor bought a physical gold coin with a face value of 1000 BTC for $ 4905 – since that time it has increased in price by 9,786 times and is now worth more than ~ $51 million. The owner donated the most valuable numismatic item to the bank vault, as he is optimistic about the long-term prospects of the first cryptocurrency.

Physical BTC of the “Casascius Bitcoins” series in increments of 0.1, 0.5, 1, 5, 10, 25, 100 and 1,000 BTC units were issued from gold, silver, or brass in the period from 2011 to 2013 and had a private key along with a holographic sticker to unauthorized access protection.

• Spot trading: At the spot trading front, Bitcoin (BTC) and Solana (SOL) have become top dogs. Ethereum (ETH) and Terra (LUNA) were pushed to third and fourth places.
• Derivatives: Bitcoin (BTC) and Solana (SOL) have become the most traded currencies as to trading derivatives. Ethereum (ETH) is following these two head to head with FTX Token (FTT) and Raydium (RAY) taking fourth and fifth places.

New Listings on KuCoin:

• Coin98 (C98/USDT)
• Blocknet (BLOK/USDT)

New Pairs on Binance:

• PowerPool (CVP/USDT)
• Frontier (FRONT/USDT)
• Dent (DENT/USDT)

New Listings on Binance:

• Bonfida (FIDA/BNB FIDA/BTC FIDA/BUSD FIDA/USDT)

By the way, our PRO plan includes new Exchange Listing alerts for all 27 exchanges in our app. Become a PRO and receive an instant notification when a new coin is listed on Coinbase Pro, Binance, or an exchange of your choice!

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👀 DYOR

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Polkadot is an open-source sharding multichain protocol that facilitates the cross-chain transfer of any data both tokens and asset types. It enables making a wide range of blockchains compatible with each other.

The Polkadot protocol connects public and private chains, permissionless networks, oracles and future technologies, allowing these independent blockchains to share information and transactions through the Polkadot relay chain.

Polkadot’s native DOT token serves to provide network governance and operations, as well as creating parallel chains by bonding.

Recent announcements:

• Polkadot (DOT) Readies For Breakout While Ecosystem Tokens Flourish
• Polkadot price analysis: Dot struggles at $30, can bulls breakthrough $32 resistance?

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We have prepared top-performing coins of Oct 7 for you.

SHIBA INU has managed to become the best performing asset among TOP-100, gaining 51.80% within the last 24 hours.

XDC Network was the worst-performing asset among TOP-100 (again), losing 2.65% within the last 24 hours.

To get up-to-date reports on gainers and losers during the week, follow us on Twitter.

Top cryptomeme of the week

We hope you found this digest useful and informative! If you want to be the first one to receive new crypto insights and stay up-to-date with the market, follow us on Twitter. Happy trading with the Good Crypto app!