Big Moves in Crypto: Don’t Miss Out!
The crypto world is buzzing with exciting developments that you don’t want to miss! From Venmo making crypto buying easier for millions to Bitcoin ETFs smashing records, the digital currency space is heating up. Plus, gold is making its debut on the Bitcoin blockchain, opening up a whole new realm of possibilities. Let’s break down the top headlines shaking the crypto world.
Crypto News Highlights
Gold Now Tradable on Bitcoin Blockchain
Bitcoin has long been dubbed “digital gold” due to its store-of-value status and limited supply. But now, for the first time ever, real physical gold can be traded on the Bitcoin blockchain. This breakthrough comes thanks to a collaboration between Swarm Markets, a regulated investment platform, and OrdinalsBot, a protocol that brings NFTs to Bitcoin.
Here’s how it works: On Bitcoin’s blockchain, the smallest unit of Bitcoin is a satoshi (1 satoshi = 0.00000001 BTC). This new service allows satoshis to be inscribed with serial numbers that represent physical gold bars, essentially turning them into unique tokens. These tokens, similar to NFTs but backed by real gold, can be traded on the Ordinals protocol.
For investors, this means you no longer have to choose between buying gold or Bitcoin—you can now hold and trade both on one blockchain. Timo Lehes, co-founder of Swarm Markets, highlighted how this innovation lets investors combine real-world assets like gold with Bitcoin’s digital power, offering greater investment flexibility.
The platform will launch Trio, a marketplace where physical assets like gold can be traded using blockchain technology, by the end of the year. This marks a significant step toward combining traditional assets with digital finance.
Venmo Simplifies Crypto Buying for 60 Million Users
In a game-changing move, Venmo has partnered with MoonPay to allow its 60 million U.S. users to easily buy crypto directly using their Venmo balance. No more linking external bank accounts—Venmo users can now transfer crypto to one another directly within the app.
This new feature is a major push toward making crypto more accessible to everyday users. Venmo’s parent company, PayPal, also supports crypto transfers, making this move even more significant for widespread crypto adoption.
Bitcoin ETFs Break $20 Billion in Trading
Bitcoin exchange-traded funds (ETFs) have taken off, with over $20 billion in trading since their approval earlier this year. Leading the charge is BlackRock’s iShares Bitcoin Trust, which has seen more than $22 billion in inflows.
Although Grayscale’s Bitcoin Trust experienced outflows as it transitioned into an ETF, other ETFs are quickly gaining traction. These investment vehicles allow individuals and institutions to gain exposure to Bitcoin without the hassle of directly buying or holding it themselves.
Base Becomes the Largest Ethereum Rollup
Coinbase’s Base, a Layer-2 Ethereum network, has become the largest Ethereum rollup, with $2.49 billion in total value locked (TVL) across 366 protocols. It has surpassed Arbitrum, which previously held the top spot with $2.39 billion in TVL.
A significant portion of Base’s TVL comes from the decentralized exchange Aerodrome, which holds over $1.3 billion in deposits. With 1.5 million daily active addresses, Base now leads in user activity and ranks among the top 5 blockchain networks by total value locked.
Crypto Fact of the Week
Crypto adoption is outpacing both mobile phones and the internet in terms of growth.
Source: BlackRock
What’s Next: Uptober & Market Outlook
October, also known as “Uptober” in the crypto world, started off slow, with Bitcoin showing limited price movement. However, excitement is building, and analysts are predicting a potential rally that could push BTC to a new all-time high soon. Stay tuned as the market gears up for possible big moves in the coming week!
With so many groundbreaking developments, now is the time to stay informed and seize the opportunities in the crypto market. Whether it’s gold on the blockchain or the rise of Bitcoin ETFs, the future of digital finance is unfolding before our eyes!