The likely imminent approval of spot exchange-traded funds for bitcoin could be a game-changing moment for the digital assets industry.
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Bitcoin gained ~29% during October after entering the month around $27,000 and finishing at ~$34,700. Performance trended sideways until mid-month when speculative euphoria around a spot Bitcoin ETF approval gained steam.
The following dives into the growing discussion around Lido’s staking dominance and its implications for Ethereum. We’d recommend unfamiliar readers begin with our Guide to Ethereum Staking.
Bitcoin gained ~4% in September after entering the month around $25,900 and finishing at ~$27,000. Performance trended sideways during the first third of the month until concerns over potential FTX asset sales temporarily rattled markets on September 11th.
Bitcoin fell ~11% in August, delivering this year’s worst monthly performance after entering August around $29,200 and finishing at ~$25,900. Performance trended sideways during the first half of the month.
As a commodity industry with few differentiating competitive strategies, porting in best financial practices from more mature commodity producers can offer tremendous benefits for public bitcoin miners including increased earnings, reduced risks, and boosted market valuations.
Traditional markets are little changed to start the week while crypto is down ~1.5%. It’s a slow start to a week that’s headlined by inflation releases, including German CPI, Eurozone CPI, and US PCE across Wednesday and Thursday.