Bitcoin Holds Steady Above 50-Day Moving Average Amid Market Volatility: News of October 18, 2024
Bitcoin continues to trade above its 50-day moving average, signaling a key support level. Traders are closely monitoring for a breakout or pullback as volatility lingers.
Upbit to List Injective (INJ) on October 17, Supporting KRW and USDT Trading
South Korea's leading cryptocurrency exchange, Upbit, has announced plans to list Injective (INJ) on October 17 at 17:15 KST. The listing will support trading in both KRW and USDT markets. INJ, the native token of the Injective Layer 1 network, plays a key role in governance, liquidity mining, and enhancing blockchain security.
$FOREST Gains Momentum with Unique Charitable and AI Features
If you had any doubts about $FOREST, the time to reconsider is now. Take a look at the recent success of $GOAT, which has paved the way for even greater optimism around $FOREST. The project stands out for its innovative combination of charitable initiatives and AI technology—a first of its kind in the space.
As the project gains traction, it’s important to remember: dips are opportunities. Stay bullish, and consider adding to your position during market pullbacks.
Trump’s WLFI Presale Raises $12M in 30 Hours, Aiming for $300M Target
In just 30 hours, the WLFI presale connected to Donald Trump's latest venture has raised $12 million, accounting for 4% of its $300 million goal. The presale, part of Trump's new financial endeavor, will see him receive 75% of all revenue, including the presale funds. However, the first $30 million raised has been allocated exclusively for operational expenses, according to a statement from the team.
RWA Tokenization Sector Could Experience 50x Growth by 2030
The real-world asset (RWA) tokenization sector is on track for explosive growth, with projections indicating a 50-fold increase by 2030. Following a breakout year in 2024, RWA tokenization has captured the attention of major financial institutions and consulting firms, as outlined in a Tren Finance research report. Predictions suggest that the sector’s market size could rise to between $4 trillion and $30 trillion by the decade’s end, with a median forecast of $10 trillion—representing over 54 times its current value of $185 billion.
Real-world assets, including tokenized securities and treasuries, are poised to claim a significant share of global financial markets, reshaping how people invest, trade, and own assets. Tren Finance’s report highlighted that the integration of traditional finance with blockchain technology marks a pivotal shift toward a more accessible and dynamic financial ecosystem. However, stablecoins continue to dominate the RWA market, accounting for over $170 billion, while tokenized securities and treasuries represent $2.2 billion.
Bitcoin Demand Surges, Potentially Driving BTC to $70K
Bitcoin (BTC) demand has surged in recent weeks, potentially driving the cryptocurrency toward a new high of $70,000. After a period of muted activity since May, BTC saw a 177,000 BTC increase in apparent demand last week, preceding a 5% rally in price. The recent uptick helped push Bitcoin's price to over $67,800, marking a ten-week high, according to data from CoinDesk Indices.
Inflows into U.S. BTC ETFs have also contributed to this bullish trend, with $458.5 million entering the market during Wednesday's trading session. According to CryptoQuant analysts led by Julio Moreno, this increase in apparent demand could sustain Bitcoin's rally to a new all-time high, as demand levels historically peaked at 490,000 to 550,000 BTC before record-breaking rallies in 2020-2021 and 2024.
Top Gainers: POPCAT, MOG, INJ, XRP, TAO, XLM
That’s all for today, have a good trading day!
