Finally the ETH fees started to come back to normal. According to Glassnode, Ethereum miners got paid 57.5 million dollars in transaction fees in October, more than 65% less than September 166 million. Trading volume on DEX, mainly based on ETH, is now down 25%, and DEFI mania seems to cool down at the moment. But, while ETH miners made lees than the last month, they still surpassed the BTC miners profit.
The US elections will affect Bitcoin for sure, but in which way, the analysts try to find out. Trump seems to probably lose, in the light of the latest events, but this is not a sure thing. Anyway, BTC has almost no reaction when Trump trumped his way over Hillary Clinton in 2016. If Biden will win, the US budget deficit will probably increase, and more money will be printed. Bitcoin has an advantage every time this happen. The US stocks may rally, and this lead to Bitcoin increase in the past. Anyway, believe me when i say this, nobody knows for sure and nobody can predict exactly how the market will react.
Bitcoin miners, even if they got less than the Ethereum miners, still managed to benefit of an 8% increase in revenues in October, closing the month at near 30% increase in price. Keep in mind that most probably Bitcoin miners sell their blockchain rewards right away.
Paypal raises their customer weekly buying limit at 15.000 dollars per week, for they crypto services, from the initial 10.000.
ECB bank president Christine Lagarde was talking about the posibility of a digital euro, as they are looking for feedback related to the idea at the moment. I presume the Chinese Digital Yuan provided enough bachground to start the research.
And then, looking at the market, it is strange to see BTC on green with the rest of altcoins in red. Far away from what we hoped, as we were thinking at the BTC-Altcoins moving independently, but with Bitcoin staying the same and Altcoins moving up. Well, this is a market, and unexpected moves happen all the time.
Oh, and i almost forget, Tron network was down for two hours yesterday, after the upgrade to the version 4.1, as a malicious contract attacked the mainnet. At least this is what Justin Sun said on Twitter. Nothing bad happened in the end, so this is all good.
That's it for today.
Yours truly,
George
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great update my friend!