The cryptocurrency market showed a mix of bullish and cautious signals on Tuesday, as Bitcoin‘s network hashrate surged to a new all-time high, indicating robust mining activity despite a slight overall market pullback. Amid this development, bitcoin maintained its position above $37,000 at the time of writing, while ethereum experienced a drop to $2,020.
Key cryptocurrency market highlights include:
Bitcoin trading volume increased by over 13%, with bitcoin’s market capitalization reaching $18.753 billion.
The total cryptocurrency market valuation fell slightly to $1.4 trillion.
The Ethereum network faced staking congestion, with waiting times approaching three hours.
Major cryptocurrencies such as Polygon and Solana saw slight declines.
The cryptocurrency industry continues to evolve, with major narratives shaping its future. Notably, Sam Altman has resumed his position at OpenAI. Additionally, Crypto.com successfully obtained an FCA license for its UK operations, signaling regulatory progress within the industry.
The industry is also awaiting the launch of the TransformBase initiative, scheduled for November, while asset managers are showing increased interest in incorporating cryptocurrencies into their offerings. Meanwhile, the industry is still processing mixed reactions to the FCA’s new cryptocurrency advertising guidelines and the impact of leadership changes at key organizations.
