Crypto Market Pulse (24/10/2023)

BTC tops US$34K, marking a 16-month high. Reddit ends its token-based Community Points programme. Lightning Labs’s Taproot Assets to enable RWAs on the Bitcoin network.

Oct 24, 2023
Crypto Market Pulse

Weekly Market Index

Last week’s crypto market prices rose by +9.32%. Volume and volatility also increased by +48.49% and +47.00%, respectively. Weekly Market Index

Chart of the Week

Bitcoin’s price has surged to a 16-month high and topped US$34K. A main reason behind this is likely the swell of optimism surrounding spot Bitcoin exchange-traded-funds (ETFs) in the US. For example, there is the recent court ruling in favor of Grayscale that the SEC will reconsider the conversion of GBTC to a spot ETF. Also, BlackRock’s proposed ETF showed up on a Depository Trust & Clearing Corp. website with an assigned unique ID number – something that doesn’t mean its ETF was approved but a step some interpreted as a sign of the company’s confidence. Bitcoin 16-Month High

Weekly Performance

Bitcoin (BTC) and Ethereum (ETH) rose by +21.2% and +12.4%, respectively, in the past seven days. Other selected top-cap tokens also gained in price. Selected Top-Cap Tokens Price Change

Selected key categories all increased in terms of market cap, in the past seven days. Selected Categories Market Cap Change

News Highlights

  • There have been more developments in Bitcoin spot exchange-traded-funds (ETF). For instance, the BlackRock ETF has just shown up on the website of Depository Trust & Clearing Corp. – a key market utility in the US that processes all securities transactions. 
  • Reddit announced the end of its Community Points program, citing “scalability limitations” and an uncertain regulatory landscape. The program involved users earning tokens (e.g. MOON, BRICK) for activities like posting and commenting in particular subreddit forums. 
  • Bitcoin Layer-2 infrastructure firm Lightning Labs has released the mainnet alpha of Taproot Assets, a protocol aimed at enabling stablecoins and real-world assets to be issued on the Bitcoin and Lightning Network.
  • Deutsche Telekom, one of Europe’s largest telecommunications companies, announced a partnership with Layer-1 blockchain provider MultiverseX. The German telecommunications giant will join a list of validators responsible for maintaining the network’s security.

Recent Research Reports

Recent University Articles

Catalyst Calendar Blockchain Launch and Upgrades Macroeconomic Events


Research and Insights Team


The information in this report is provided as general market commentary by 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 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.


crypto research

Market Updates

Share with Friends

Ready to start your crypto journey?

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

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

Common Keywords: 

Ethereum / Dogecoin / Dapp / Tokens