30s Summary

Crypto newsletter “First Mover” reports a calm day in the crypto market, with Bitcoin still under $70k. Meanwhile, the Singapore central bank is eyeing tokenization, betting platform Polymarket sees rising activity on Kamala Harris, and Andre Dragosch of Bitwise suggests an increased money supply is good for limited digital assets like Bitcoin. Also making news, a post-election Bitcoin rally is predicted, Citi and Fidelity demonstrate a blockchain-based Forex swap, and some Ethereum researchers step away from EigenLayer over conflict of interest concerns.

Full Article

This is drawn from CoinDesk’s daily newsletter, “First Mover,” which gives the scoop on crypto happenings. Be sure to register so you won’t miss out.

Today’s Latest Prices

Here’s a quick run on the latest prices:

– CoinDesk 20 Index: 2,008.80 +0.39%
– Bitcoin (BTC): $68,897.73 +0.86%
– Ether (ETH): $2,473.42 +0.81%
– S&P 500: 5,728.80 +0.41%
– Gold: $2,742.19 +0.38%
– Nikkei 225: 38,053.67 -2.63%

Today’s Top Stories

1. Bitcoin was pretty much stable today as we edge closer to the Presidential election in the U.S., pulling back slightly over the weekend and hovering around $69,000. Meanwhile, across the crypto market, it’s all pretty tame with less than a 0.5% rise.

2. Over on the betting platform Polymarket, Kamala Harris is making some strides – her chances of winning the election have increased, reflected in the cash being spent by users.

3. Tokenization looks like it’s becoming a big deal in Singapore now that the country’s central bank has set out plans to introduce new measures to improve and increase its use in financial services.

Chart of the Day

We’ve got a chart giving an overview of the U.S. 10-year note and three-month bill yield since 1985, as well as the S&P 500. Back then, if the yield de-inverted (turned positive), that would be a bad time for stocks. But this current de-inversion might not be bad news for stocks or cryptos, including bitcoin. That’s because, right now, the money supply is accelerating, and that tends to be a good thing for digital assets that are limited in number, like bitcoin. That’s according to André Dragosch from Bitwise anyway.

Hot Posts

Here’s what’s hot right now:

1. There’s a belief that Bitcoin’s likely to see a rally after the U.S. Election, and it won’t matter who wins.
2. Citi and Fidelity are doing something interesting – they’ve demonstrated a proof-of-concept for a real-time Forex Swap using blockchain tech.
3. Some Ethereum researchers are stepping aside from EigenLayer after concerns about a conflict of interest were raised.

Well, that’s it for today folks. Hey, don’t forget to subscribe to get all this and much more delivered straight to your inbox every day.