The Block
Quick Take For stablecoin operators, falling interest rates mean less revenue from the cash reserves backing their tokens. This column is adapted from The Scoop newsletter.
Quick Take As of the week ending Oct. 27, weekly sales have reached 43,600 NFTs. The following is an excerpt from The Block’s Data and Insights newsletter.
Traditional financial firm BlackRock has recommended investors who want a multi-asset portfolio invest up to 2% into bitcoin.Recently, BlackRock’s bitcoin fund surpassed its gold fund in terms of assets under management.
The idea of public companies holding bitcoin on their balance sheets is gaining renewed traction.This column is adapted from The Scoop newsletter.
Quick Take Ethereum’s price could surpass $5,000 if current supply-and-demand trends and rising investor interest continue, CryptoQuant analysts said. Ethereum’s on-chain activity has increased, with daily transactions and dApp usage driving higher network fees and slowing supply growth due to increased Ethereum burning, they added.
Quick Take The 12 U.S. spot Bitcoin ETFs have surpassed 500,000 BTC in cumulative net inflows less than a year after trading began. The ETFs have now absorbed more than 2.5% of bitcoin’s 19.8 million BTC circulating supply since their January launch.
Quick Take Layer 1 blockchain project Avalanche has raised $250 million in a locked token sale led by Galaxy Digital, Dragonfly and ParaFi Capital. The investment will support the Avalanche9000 upgrade, currently in testnet, designed to drastically reduce blockchain deployment and transaction costs.
Quick Take Uplink is a decentralized internet connectivity platform, allowing users to share their existing internet and incentivizing new internet deployment in under connected areas.
Quick Take Step Finance aims to become the first to bring tokenized trading of major stocks like Nvidia and Tesla to the Solana ecosystem. The project has acquired early-stage startup Moose Capital to facilitate its plans, including the regulatory licenses needed for a Q1 2025 launch.
