Hello crypto bros! Here’s your cryptocurrency update from over the weekend.
Bitcoin Kisses All-Time Highs Amid Shutdown Chaos
Bitcoin hit a staggering $125,700 over the weekend. Meanwhile, the U.S. government shutdown sparked a 12% weekly surge, with a 2% jump in 24 hours. This rally can be attributed to Institutional cash pouring in via Bitcoin ETFs.
Standard Chartered’s Geoff Kendrick predicts a new high next week, eyeing $135,000 soon after.
JPMorgan has an even bolder statement, forecasting $165,000 by year-end.
This cryptocurrency update screams momentum and Uptober’s living up to its name!
Stablecoin Market Hits $300 Billion Milestone in Major Cryptocurrency Update
Bitcoin isn’t the only one thriving. The stablecoin market just smashed past $300 billion as well.
DefiLlama reported a 46.8% year-to-date growth, hitting this milestone on October 3.
With $40 billion added in Q3 alone, analysts say the market’s poised to outstrip 2024’s 58% growth by adding $23 billion more.
Historically, stablecoins exploded from $400 million in 2019 to $4.1 billion in 2020, with steady climbs until 2022’s dip. Now, new launches and fierce competition are driving this cryptocurrency update forward.
Meanwhile, experts see infrastructure scaling to trillions as adoption skyrockets. For instance, the GENIUS Act passed in July could shake things up further, with Multicoin Capital’s Tushar Jain predicting a shift from bank deposits to high-yield stablecoins.
South Park’s Crypto Roast Steals the Show
South Park is serving up a biting cryptocurrency update in its 27th season, skewering prediction markets, regulators, and crypto hype.
The show’s no stranger to digital assets, having mocked Bitcoin as a Ponzi scheme in 2021 and NFTs as a mania-inducing disease.
This time, it riffs on real-world flops like Terra’s crash and Matt Damon’s ill-fated “Fortune favours the brave” Crypto.com ad, which tanked post-2021 peak.
Larry David’s FTX ad also got burned after Sam Bankman-Fried’s 25-year sentence.
Meanwhile, The Simpsons’ “Frinkcoin” took a lighter tack, explaining blockchain basics.
This cryptocurrency update shows TV’s love-hate with crypto; part future finance, part punchline.
As digital assets cement their pop culture status, it keeps giving screenwriters plenty to write about.
