Crypto markets experienced significant volatility, including a $131 billion crash and $19 billion in liquidations, primarily impacting Bitcoin. Despite this, strong optimism surrounds XRP and Solana due to intensified ETF speculation, with Solana even surpassing Ethereum in DEX trading volume. Major financial institutions like JPMorgan and Citi are signaling increased interest in offering crypto services, while BNB saw a 16% rally fueled by positive sentiment and price targets up to $1,500.
Key Developments
- XRP and Solana are experiencing heightened ETF speculation, with potential SEC decisions for Solana by Oct. 16 and multiple XRP ETF filings advancing.
- A significant crypto market crash led to $131 billion in losses and $19 billion in liquidations, primarily affecting Bitcoin, with discussions around leverage and alleged insider trading.
- JPMorgan and Citi are exploring or confirming plans to offer crypto trading and custody services to clients, signaling growing institutional adoption.
- Solana has overtaken Ethereum in DEX trading volume, driven by surging liquidity and whale accumulation, with analysts targeting $500.
- BNB rallied by 16%, with its price nearing a $1,500 record high, boosted by positive comments from the Nasdaq CEO and Binance's user reimbursements.
Next 6 Hour Outlook
The market is likely to remain sensitive to ETF-related news and institutional developments, with potential for continued volatility following recent liquidations.
Top Tickers
BTC
XRP
SOL
BNB
ETH