Crypto news: Polkadot resumes record-breaking rally
Updated
After bitcoin and the rest finished their record-setting month strong with the highest monthly close ever, cryptocurrencies are off to a solid start for “Moonvember” – as November is known in the crypto world.
The whole market advanced 2.6% and now accounts for $2.66trn (£1.9trn), data from CoinMarketCap shows. Three of the biggest cryptocurrencies added handsome gains on Tuesday in early London early trading. Polkadot resumed its record-breaking rally and reached a new all-time high of $53.25 in London mid-morning trading.
Shiba Inu and Dogecoin, on the other hand, appeared to have calmed down from their franctic rallies. Shiba Inu is set to be listed on cryptocurrency exchange Binance, but there is no sign of the coin’s listing on the US trading platform Robinhood. A petition calling on Robinhood to add Shiba Inu to its platform has now gathered more than 466,000 singatures.
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Chart of the day: Polkadot surpasses yesterday’s record high
Polkadot resumed its record-breaking rally – Credit: TradingViewQuote of the day
US Treasury Secretary Janet Yellen commenting on stablecoin recommendations from the President’s Working Group on Financial Markets:
Round-up of the biggest coins by market capitalisation
As of 06:30 GMT:
- bitcoin added 1.9% and was trading at $61,610.50
- Ethereum’s ether rose 3.3% to $4,359.90
- binance coin climbed 5.11% to $543.30
- tether stayed flat, with +0.05% change and was trading at $0.99
- Cardano was up 0.99% to $1.95
Key gainers and loser
- Polkadot’s DOT token was trading 16.6 % higher over the last 24 hours
- Shiba Inu’s SHIB lost 2.9 % and DOGE was down 0.6 %
Other crypto news
- US regulators urged lawmakers to pass new laws requiring stablecoins to be issued by banks and overseen by the Federal Deposit Insurance Corporation in hopes that the step would lead to a wider adoption of these digital currencies, which are pegged to reserve assets like the US dollar or gold.
- Ira Kleiman v Craig Wright civil trial kicked off on Monday. Wright is Australian computer scientist and early crypto developer, who claims that he is the pseudonymous Satoshi Nakamoto, the inventor of bitcoin. The case centres on claims that the late David Kleiman acted in partnership with Wright – and his estate is owed a share of 1.1 million bitcoins.
- Crypto mining company Argos Blockchain, which is listed on London Stock Exchange, has reported a record revenue for the third quarter. Argos said that it mined 597 bitcoins in the period. Based on the current prices, the coins are worth some $36.5m.
Read more: Polkadot hits ATH while Squid Game-inspired token collapses
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