Crypto Market Pulse (9/10/2023)

BTC’s “Uptober” intact so far this month. Hong Kong Stock Exchange uses smart contracts to help post-trade flows. Bank of Korea and Bank for International Settlements test Korean CBDC.

Oct 09, 2023
Crypto.com Crypto Market Pulse

Weekly Market Index

Last week’s crypto market prices rose slightly by +1.01%. Volume and volatility also increased by +16.35% and +24.01%, respectively.

Crypto.com Weekly Market Index

Chart of the Week

Historically, the Bitcoin price has performed positively in October, with only two down instances in the past decade. This has prompted some in the crypto community to dub the month “Uptober”. The moniker appears to be living up to its name, as Bitcoin is up +3.2% so far this month.

Crypto.com Uptober Monthly Price Change

Weekly Performance

Bitcoin (BTC) was flat at +0.3% while Ethereum (ETH) dropped -5.2%, in the past seven days. Price action for other selected top-cap tokens was mainly negative.

Crypto.com Selected Top-Cap Tokens Price Change

Selected key categories were down in terms of market cap, with the exception of Artificial Intelligence, in the past seven days.

Crypto.com Selected Categories Market Cap Change

News Highlights

  • Hong Kong Stock Exchange is launching a novel equities settlement acceleration platform. Dubbed “Synapse,” the platform will utilise smart contracts in the DAML programming language to streamline post-trade flows and enhance operational efficiencies.
  • The Bank of Korea and the Bank for International Settlements (BIS) announced a new pilot that will test the functionality of a Korean wholesale central bank digital currency (CBDC), which will serve as a tool for banks to settle interbank transactions and issue CBDC-backed digital currencies that can be fractionally backed depending on the case.
  • JPMorgan’s digital assets and blockchain platform, Onyx, is processing up to US$2 billion daily. Users are mainly utilising its platform for tokenisation purposes, with the likes of Goldman Sachs and BNP Paribas among the early adopters. The platform has already tokenised a variety of assets including US treasury bonds, mortgage-backed securities, and cash using the JPM coin.

Recent Research Reports


Recent University Articles


Catalyst Calendar

Crypto.com Catalyst Calendar
Crypto.com Macroeconomic Events

Author

Research and Insights Team

Disclaimer:

The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties.

This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement.

The brands and the logos appearing in this report are registered trademarks of their respective owners.

Share with Friends

Ready to start your crypto journey?

Get your step-by-step guide to setting up an account with Crypto.com

By clicking the Get Started button you acknowledge having read the Privacy Notice of Crypto.com where we explain how we use and protect your personal data.
Mobile phone screen displaying total balance with Crypto.com App

Common Keywords: 

Ethereum / Dogecoin / Dapp / Tokens