Saturday, October 1


Bitcoin (BTC) has finally breached the $ 50,500 resistance and Ether (ETH) has risen above the $ 4,000 mark. This suggests that there is a growing interest in cryptocurrencies and several legacy finance companies are taking steps to take advantage of this growing demand.

One of the world’s largest freelance asset managers, Franklin Templeton, has posted new job applications for mid-to-senior positions in crypto research and trading, according to job postings on Linkedin.

Meanwhile, in Japan, financial conglomerate SBI Holdings plans to establish one of the first crypto funds in the country in late November. Tomoya Asakura, SBI Director and Senior Executive Director, said launching a second fund will be explored depending on the success of the first.

Daily performance of the cryptocurrency market. Source: Coin360

While cryptocurrency traders are cheering the recent surge of various altcoins, analysts at JPMorgan have warned their clients that the recovery of altcoins and non-fungible tokens (NFTs) are getting sparkling.

Analysts said that the share of altcoins in the cryptocurrency market increased from 22% in early August to 33%, which is high compared to historical standards. They believe the reason is “retail investor ‘craze’ and foam rather than a reflection of a structural uptrend.”

Could Bitcoin stay above $ 50,500 and resume its uptrend or will altcoins remain focused? Let’s study the charts of the top 10 cryptocurrencies to find out.