Crypto Markets Rebound: BTC Holds $102K, ZEC and ICP Surge, Ripple Raises $500M
Crypto Markets Rebound: BTC Holds $102K, ZEC and ICP Surge, Ripple Raises $500M
Crypto markets experienced a generally positive trend, with Bitcoin maintaining strong support above $102,000. Several altcoins recorded significant gains, most notably ZEC and ICP which saw surges of 15% and 28% respectively. In major corporate news, Ripple successfully raised $500 million, boosting its valuation to $40 billion. Other notable movements included ETH gaining 1%, while BNB and SOL remained stable. The article also covered Chainlink's adoption by WisdomTree, Robinhood's increased crypto revenue, YouTube's clarification on crypto content, and Circle's expanded use cases for USDC.
Market Overview and Top Movers
The broader crypto markets showed a slightly green trend, with Bitcoin (BTC) demonstrating resilience by trading just below its 200-week moving average. BTC recorded a 0.5% rise, reaching $102,800. Ethereum (ETH) also saw positive movement, gaining 1% to hit $3,380. Meanwhile, major altcoins like BNB and SOL held steady, trading flat at $950 and $157 respectively.
Among the top-performing assets, ICP surged impressively by 28%. Zcash (ZEC) also saw a significant climb of 15%, and DASH rose by 12%, indicating strong momentum in specific altcoin sectors.
Corporate Developments and Adoptions
In significant corporate news, blockchain firm Ripple successfully closed a $500 million funding round. This substantial investment, secured from major players including Fortress, Citadel, and Brevan Howard, pushed Ripple's valuation to an impressive $40 billion, marking a strong vote of confidence from institutional investors.
Asset management giant WisdomTree, overseeing $130 billion in assets, announced its adoption of Chainlink (LINK). This integration aims to bring Net Asset Value (NAV) data on-chain, facilitating subscriptions for its CRDT tokenized fund built on the Ethereum blockchain, showcasing growing institutional engagement with decentralized oracle networks.
Elsewhere, financial platform Robinhood reported robust performance, surpassing its Q3 estimates, driven by a substantial increase in its crypto-related revenue.
Policy Clarifications and Stablecoin Utility
Regarding content policy, YouTube issued a clarification stating that its gambling policy is not broadly targeting crypto content. Instead, the focus remains on material directly related to gambling and casino activities, alleviating some concerns within the crypto content creator community.
Lastly, Circle, the issuer of the USDC stablecoin, updated its terms of service. The revised terms now permit the use of USDC for firearms purchases, expanding the range of transactions supported by the digital dollar.