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Kraken Daily Market Report for October 16 2021

Overview


  • Total spot trading volume at $1.01 billion, the 30-day average is $1.22 billion.
  • Total futures notional at $321.0 million.
  • The top traded coins were, respectively, Bitcoin (-1.3%), Ethereum (-1.1%), Tether (0%), Polkadot (-3.6%), and Flow (-12%).
  • Strong returns from Keep (+30%), and Stellar (+9.7%).

October 16, 2021 
 $1.01B traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
BTC 
$60873. 
↓1.3% 
$311.7M
ETH 
$3826.1 
↓1.1% 
$168.8M
USDT 
$1.0 
↑0.02% 
$152.4M
DOT 
$41.704 
↓3.6% 
$87.4M
FLOW 
$15.624 
↓12% 
$75.6M
USDC 
$1.0001 
↑0.02% 
$50.1M
XRP 
$1.1333 
↓0.8% 
$27.9M
SOL 
$157.45 
↓3.5% 
$23.8M
ADA 
$2.1772 
↓1.8% 
$23.3M
KEEP 
$0.9358 
↑30% 
$22.1M
LINK 
$27.211 
↑0.8% 
$15.5M
DOGE 
$0.2369 
↑1.3% 
$15.5M
XLM 
$0.3965 
↑9.7% 
$14.0M
OXT 
$0.4321 
↑3.2% 
$11.0M
LTC 
$185.93 
↓1.9% 
$10.0M
MATIC 
$1.5063 
↓6.1% 
$9.71M
DAI 
$0.9997 
↓0.04% 
$7.09M
ATOM 
$33.144 
↑0.32% 
$6.98M
XTZ 
$6.9033 
↑0.9% 
$6.36M
UNI 
$27.035 
↑4.4% 
$5.63M
ALGO 
$1.7963 
↑2.3% 
$5.56M
XMR 
$267.9 
↓2.3% 
$5.24M
BCH 
$624.76 
↓0.23% 
$4.84M
KSM 
$341.05 
↓1.9% 
$4.58M
TRX 
$0.0987 
↑0.07% 
$3.62M
GRT 
$0.8038 
↓1.4% 
$2.97M
EOS 
$4.5656 
↓1.7% 
$2.28M
KAVA 
$5.7257 
↓0.07% 
$2.21M
MINA 
$4.19 
↓0.5% 
$2.19M
OCEAN 
$0.8404 
↑4.7% 
$2.18M
AAVE 
$304.31 
↑0.9% 
$2.13M
FIL 
$66.476 
↓1.1% 
$2.1M
MANA 
$0.8069 
↑6.6% 
$1.93M
CRV 
$2.9040 
↓0.4% 
$1.7M
SC 
$0.0182 
↓1.3% 
$1.57M
ETC 
$54.070 
↓0.3% 
$1.5M
EWT 
$11.404 
↓2.5% 
$1.46M
NANO 
$5.4030 
↑0.19% 
$1.4M
OMG 
$14.111 
↑1.4% 
$1.38M
DYDX 
$22.355 
↓1.2% 
$1.24M
SNX 
$9.79 
↑0.21% 
$1.15M
MOVR 
$238.08 
↓3.5% 
$1.13M
BAT 
$0.7152 
↑3.4% 
$1.12M
MIR 
$3.115 
↑1.8% 
$1.06M
SUSHI 
$11.49 
↑3.5% 
$969K
WAVES 
$29.294 
↓3.0% 
$942K
AXS 
$125.31 
↓1.1% 
$906K
STORJ 
$1.3378 
↑1.9% 
$881K
MLN 
$132.11 
↓1.7% 
$849K
DASH 
$190.63 
↓2.1% 
$824K
COMP 
$317.1 
↑0.06% 
$808K
CQT 
$1.31 
↑5.6% 
$804K
ENJ 
$1.71 
↑5.9% 
$722K
QTUM 
$12.835 
↑1.8% 
$703K
YFI 
$35094. 
↓2.4% 
$686K
ANT 
$4.7996 
↓4.5% 
$587K
SDN 
$4.2061 
↓2.1% 
$560K
LPT 
$21.68 
↓0.5% 
$540K
PHA 
$0.777 
↓3.4% 
$471K
LSK 
$3.4572 
↓1.8% 
$450K
ICX 
$2.0126 
↑0.3% 
$447K
RARI 
$24.04 
↓2.5% 
$438K
REN 
$1.0373 
↓0.17% 
$434K
KNC 
$1.6934 
↑0.6% 
$430K
SRM 
$7.352 
↓0.8% 
$420K
ZEC 
$126.3 
↓0.2% 
$416K
BAL 
$22.87 
↑0.26% 
$363K
MKR 
$2587.0 
↑0.23% 
$331K
BAND 
$8.564 
↑3.7% 
$291K
SAND 
$0.7482 
↑0.9% 
$288K
OGN 
$0.8552 
↑1.7% 
$280K
CHZ 
$0.3285 
↑2.6% 
$273K
ANKR 
$0.0904 
↑0.8% 
$208K
LRC 
$0.42 
↑0.5% 
$197K
GNO 
$327.98 
↓0.6% 
$173K
PAXG 
$1771.0 
↓0.23% 
$171K
BADGER 
$29.136 
↓3.2% 
$166K
PERP 
$17.344 
↓5.4% 
$144K
REP 
$24.916 
↑2.3% 
$141K
KAR 
$8.1911 
↑0.5% 
$133K
OXY 
$2.164 
↓1.5% 
$116K
INJ 
$11.874 
↑3.4% 
$111K
ZRX 
$1.006 
↓0.9% 
$108K
1INCH 
$3.216 
↓1.0% 
$95.2K
REPV2 
$23.892 
↓0.3% 
$90.0K
RAY 
$9.875 
↓2.8% 
$89.6K
CTSI 
$0.6869 
↑1.1% 
$80.5K
GHST 
$1.7232 
↑1.7% 
$71.3K
WBTC 
$61013. 
↓1.5% 
$51.7K
BNT 
$4.115 
↓1.3% 
$31.4K
TBTC 
$60042. 
↓3.7% 
$9.76K

The post Kraken Daily Market Report for October 16 2021 appeared first on Kraken Blog.

Bank of America: The Metaverse Is a Massive Opportunity for The Crypto Industry

Haim Israel – a strategist at Bank of America – believes the metaverse will create huge opportunities for blockchain technology. It will also cause digital assets to start being employed widely for financial transactions. Nonetheless, private tokens are too volatile, and stablecoins like Tether (USDT) and USD Coin (USDC) are more likely to prevail, he::Listen

Haim Israel – a strategist at Bank of America – believes the metaverse will create huge opportunities for blockchain technology. It will also cause digital assets to start being employed widely for financial transactions.

Nonetheless, private tokens are too volatile, and stablecoins like Tether (USDT) and USD Coin (USDC) are more likely to prevail, he opined.

The Metaverse Is The Future

In a recent interview, the Managing Director and Global Strategist at Bank of America – Haim Israel – described the metaverse as the tool that will drive the cryptocurrency industry towards mass adoption if certain conditions are met:

“I definitely believe this is a massive, massive opportunity. You need the right platforms… that are definitely going to be a big opportunity for this entire ecosystem.”

Israel also predicted that the metaverse is where “we’re going to start using cryptocurrencies as currencies.” However, existing digital assets such as bitcoin, ether, and the rest are too volatile to fit in this role. As such, stablecoins will probably prevail since they are pegged to fiat currencies or precious metals, which tend to fluctuate a lot less.

Subsequently, Israel believes that if cryptocurrencies become widely used in the metaverse, large tech companies will enter the landscape.

Haim Israel
Haim Israel, Source: Financial News

The term “metaverse” got increasingly popular during the last couple of months, especially after Mark Zuckerberg announced the rebranding of Facebook to Meta – a new title that emphasizes his firm’s vision.

Put simply, the metaverse is a virtual world where people can play games, socialize, work, build things, and even trade and earn crypto assets.

The Metaverse Space May Soon Reach $1T Market Value

According to a report by the leading digital asset manager – Grayscale, the metaverse industry world could soon be worth over $1 trillion.

The investment giant noted that the opportunity for the space extends far beyond gaming and touches sectors like advertising, digital events, social commerce, hardware, and developer/creator monetization.

Assuming the latest data is correct, the total market capitalization of Web 3.0 metaverse crypto networks is already near $30 billion. However, the industry might emerge as a disruptor for Web 3.0, similar to how Facebook changed Web 2.0.

The analysis also showed that the number of metaverse wallets had multiplied by a factor of ten compared to the beginning of last year. In the last quarter of 2021, the number stood at around 50,000.

Kraken Daily Market Report for October 16 2021

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