30s Summary

Bitcoin’s value remains steady as investors keep an eye on the US presidential election. Reports of defunct exchange Mt. Gox transferring 32,000 BTC is raising concerns of potential impact on Bitcoin’s market value. Meanwhile, DOGE is performing well, boosted by Elon Musk’s endorsement. Bitcoin traders buy put options to hedge against post-election losses. Additionally, the daily dollar value of stablecoins issued and transferred on the Base Ethereum layer-2 network is surpassing activity on Solana. Bitcoin mining difficulty reaches record high while controversy-tossed Binance’s motion to dismiss SEC lawsuit innovates the headlines.

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Here’s a quick peek at the latest prices:

– CoinDesk 20 Index: 1,997.20 -0.53%
– Bitcoin (BTC): $68,771.50 +0.04%
– Ether (ETH): $2,437.68 -1.34%
– S&P 500: 5,712.69 -0.28%
– Gold: $2,741.94 +0.16%
– Nikkei 225: 38,474.90 +1.11%

What’s happening in crypto?

Bitcoin’s pretty steady at the moment, with a small drop below $68,000 earlier. People are keeping an eye on the US presidential election for its potential impact on the market. Plus, there are rumours of the defunct crypto exchange, Mt. Gox, transferring over 32,000 BTC to unidentified wallet addresses. A move like this often indicates an upcoming transfer to exchanges, which could potentially affect Bitcoin’s market value.

DOGE is doing well, up by almost 10% in the past 24 hours. It’s had a good month, with a boost of over 40% thanks to tech entrepreneur Elon Musk flagging it up. Musk has been suggesting a Department of Government Efficiency – abbreviated as D.O.G.E – as part of the Republican campaign, which could make government spending more efficient. If Donald Trump comes out on top, we could see DOGE rise even more, although many analysts are predicting a surge across the board, regardless of the election outcome.

Bitcoin Trades are hedging against possible losses after the election, buying up put options that will expire within the week.

For those of you who prefer visuals, check out our chart of the day below. It shows the daily dollar value of the net flow of stablecoins issued and transferred on the Solana blockchain and Ethereum layer-2 network, Base. You can see that the stablecoin transfer volume on Base is growing quickly, surpassing activity on Solana, the world’s second-largest programmable blockchain.

Here are some top crypto stories that have been making waves recently:

– Bitcoin Mining Difficulty Tops 100T for First Time, Piling Pressure on Small Miners
– Metaplanet Gains First Index Listing With Inclusion on CoinShares’ BLOCK Index
– Binance, CZ’s Lawyers File Motion to Dismiss Amended Complaint in SEC Lawsuit

This article was edited by Sheldon Reback.