Right now, fees are at $639,000, a far cry from the $1.83 million they hit on August 8, and even more so from the $5.08 million peak in March.

👀 #Analysts say the decrease is due to waning interest in #Memecoins🤑🤑 on Solana.

It looks like all the party animals have moved over to the #TronBlockchain 😏

#DOGSONBINANCE #BNBChainMemecoins

Nearly half of ETF #investors are interested in getting exposure to crypto
According to a recent survey published by Texas-based multinational financial services company Charles Schwab, nearly half of ETF investors (45%) plan to gain exposure to cryptocurrencies. 
In fact, cryptocurrencies ended up higher than bonds (44%) and international equities (27%). 
Eric Balchunas, one of the leading ETF #Analysts , described the results as "pretty stunning." 
It is worth noting cryptocurrencies were also one of the top choices for ETF investors in an older Charles Schwab survey that was published before the launch of #BitcoinETFs . 
According to Balchunas, the most recent results show that investor demand for cryptocurrencies is yet to be met. 
Other findings 
The recent survey shows that the total cost and the reputation of a specific ETF provider are the most important factors for ETF investors. Notably, younger investors also tend to be interested in a broader range of factors (such as liquidity and trading volume). 
The vast majority of ETF buyers (65%) plan to increase their exposure in the next year. 
The survey also shows that the top reasons for buying these products include building wealth, rebalancing, downside protection, tax optimization, and so on. 
More outflows 
On Oct. 9, $BTC
ETFs recorded a total of $30.6 million worth of outflows. This was the second consecutive day of negative flows. However, these products recorded a whopping $233 million worth of inflows on Oct. 7. 
Meanwhile, the #Bitcoin❗ price recently collapsed below the $59,000 level. 
#moonbix

CryptoQuant #Analysts are warning that although the market has been stuck in a prolonged range, we shouldn't get too comfortable. Taker sell volume (those who remove #liquidity from order books) has been steadily decreasing. 📉

What does this mean? 

👉 According to #CryptoQuant , the sideways movement is about to end, and we can expect a huge spike in volatility! Be prepared for significant market moves that could impact your positions.

Get ready for whatever the market has in store! 🚀
#moonbix #SCRPricePrediction

The past week brought significant developments in the crypto sphere, as former President Donald Trump voiced his backing for the industry. Additionally, Charles Hoskinson criticized President Joe Biden for allegedly hindering the American crypto sector’s growth.
Furthermore, Trump announced plans to facilitate crypto donations for his 2024 campaign. Here’s a summary of the top crypto news from the week.
Crypto Landscape: Trump’s Endorsement and Hoskinson’s Criticism
Former U.S. President Donald Trump made headlines by endorsing cryptocurrency, marking it as a significant issue for the upcoming elections. This unexpected move contrasts sharply with President Joe Biden’s perceived lack of familiarity with the crypto world. In a series of video clips shared by notable NFT creator Frank Degods, Trump expressed his support for the crypto industry, suggesting that those in favor of crypto should support him.
Meanwhile, Charles Hoskinson, founder of Cardano (ADA/USD), accused President Biden of actively hindering the Bitcoin and cryptocurrency industry in the United States. Hoskinson criticized the Biden administration for its alleged efforts to undermine the American crypto sector, highlighting tensions within the political sphere regarding cryptocurrency regulation.
Market Fluctuations and Predictions
Cryptocurrency markets saw fluctuations in response to recent developments, leading to declines in major cryptocurrencies like Bitcoin, Dogecoin, and Ethereum. Despite the boost in market sentiment from strong ETF data the previous week, the upward trend could not be sustained on Monday.
In the world of cryptocurrency predictions, Cathie Wood, CEO of Ark Invest, is renowned for her bold forecasts about the future of digital assets. Wood has repeatedly raised the price target for Bitcoin, with her latest projection reaching an ambitious $3.8 million by 2030. However, Kevin O’Leary remains skeptical, advising caution against making speculative investments solely based on optimistic forecasts.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#CryptoStory #Analysts

Commissions on the #Ethereumnetwork have dropped dramatically, reaching the level of $1.63 per transaction. According to #Analysts at Santiment, this was a significant development for blockchain users. This drop opens up new opportunities for more frequent and affordable transfers, thereby encouraging more activity on the network. Low fees have always been a favorable factor for the growth of utility, as it enables users to conduct more #transactions at minimal cost.

Historically, at fee levels as low as $2, online activity increases as users seek to take advantage of more favorable terms. Such a rate is typically associated with the “bottom of the market” when the price of fees is minimal, which encourages more transfers and allows Ethereum($ETH
)to exhibit more dynamic behavior.

An average commission rate between $2 and $6 is considered the most common and is usually seen during periods of stability or flat market movement. During such times, activity does not peak but is kept at a stable level when users do not have a strong fear of missing out (#fomo ).

When the average commission rises to $6-$10, it indicates an increase in market interest, usually characteristic of bull rallies. It is at times like these, when users start actively buying and selling assets, that commissions rise due to the increased load on the network.

However, the highest commissions - over $10 - signal market overheating and often coincide with peak values on the charts. Then the price of an asset reaches its maximums, and users massively fix profits or get rid of their positions. During such periods, high transaction costs suppress activity, making transfers less attractive.
#ScrollOnBinance