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Bitcoin drops 4%;  One coin earns 10.00,000% in 24 hours


Bitcoin, the largest cryptocurrency by market cap, fell 4% on Wednesday to trade at $ 60,500, as extreme bullish sentiment appeared to be reversing.

Its Fear & Greed Index has fallen from the highest levels in seven months. According to a CoinDesk report, in the futures market, leveraged funds increased their bets against Bitcoin to an all-time high last week, possibly to record profits.

Meanwhile, Ether, the number two digital coin, also followed Bitcoin as it fell 1% after rising over 8% this week. Binance Coin was also down by 1% and Cardano by 2%.
Even the Solana rally had some setbacks as the coin plunged 2%. The coin has risen over 30% in the past seven days. Polkadot is up over 1%, rising over 8% this week. Dogecoin fell 2.5%.

Shina Inu is currently at number 11. The coin has grown 20% in the past 24 hours and over 75% in the past seven days.

A. Top 10 Cryptocurrencies by Market Cap

Cryptocurrency Current market price 24 hour change
Bitcoin $ 60,633 -3.43%
Ether $ 4,203 -0.65%
Binance Coin $ 482 -0.87%
Cardano $ 2.15 -1.86%
Attached $ 1 0.03%
Solana $ 203 -2.20%
XRP $ 1.12 -0.35%
Peas $ 44.88 1.64%
Dogecoin $ 0.25 -2.36%
USD coin $ 0.02 0.02%

On Wednesday, the total market cap of the crypto market – the barometer of the overall health of the crypto market – fell 2% to $ 2.57 trillion. Meanwhile, Bitcoin’s dominance in the market has declined by more than half a percent to 44.32 percent.

B. Main crypto news updates

Leverage funds raise bets against Bitcoin

Leverage funds on the Chicago Mercantile Exchange increased their bets against Bitcoin to record highs last week, most likely to take advantage of the widening gap between spot and futures market prices, report says from CoinDesk.

Who owns Bitcoin?

A relatively small number of people own majority coins. The top 1,000 investors own more than 3 billion bitcoins, according to a new study. And some 10,000 investors own a third of all bitcoin ever mined.

Robinhood Reports Slowdown in Crypto Trading

Robinhood Markets Inc shares fell below their initial after-hours public offering price after the retail broker reported lower than expected third-quarter earnings, trading levels for things like the cryptocurrency dogecoin having declined.

U.S. Regulators Explore How Banks Could Hold Crypto Assets

A leading U.S. banking regulator said officials are looking to provide a clearer path for banks and their clients looking to hold cryptocurrencies, in order to maintain control over the rapidly growing asset.

Nigeria launches Africa’s first digital currency

Nigeria, Africa’s largest country, launched the continent’s first central bank digital currency. The Central Bank of Nigeria announced the launch of eNaira on October 25.

C. Top 3 Trending Crypto Assets

Cryptocurrency Current market price 24 hour gain
Dogecoin $ 0.2599 -1.58%
Hyperchaîne 0.00001647 $ 175%
Decreed $ 119.61 -0.65%

D. Top 3 winners

Cryptocurrency Current market price 24 hour gain
BitUp $ 906.45 10.30.515%
FlokiGravity $ 0.00002536 342949%
TrumpCoin $ 0.9558 342%

E. Top 3 losers

Cryptocurrency Current market price 24 hour loss
Frosted cake 0.00001002 $ -90%
Solum $ 0.01259 -89%
Avar Protocol 0.0001888 $ -83%

(Data is from coinmarketcap.com)

(With contributions from agencies)

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