Ether ticks above $1,600 as crypto-related earnings take center stage

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On Mon­day, prices for bit­coin and ether were $20,727 and $1,620, respec­tive­ly.
As BNB, SOL, and AVAX saw lit­tle advances, alt­coins expe­ri­enced some greater gains.

Crypto profits are significant this week

As cryp­to prof­its take cen­ter stage this week, the price of cryp­tocur­ren­cies is still trend­ing upward today. Accord­ing to exchange sta­tis­tics, the price of one bit­coin was $20,727 on Coin­base, hav­ing decreased by about 0.1% dur­ing the pre­vi­ous 24 hours. At the same time, ether increased by 1%, and the native coin of Ethereum was trad­ing at $1,620.

On Mon­day, alt­coins also saw a lit­tle gain. The native cur­ren­cy of Binance, Solana, and Avalanche increased by 5.2%, 4.9%, and 3.5%, respec­tive­ly. CoinGecko (1) shows that the HUSD sta­ble­coin has fall­en more than 60% in the past sev­er­al hours. Since Huo­bi announced its delist­ing on Octo­ber 28, the sta­ble­coin has been trad­ing below its peak.

Calls for crypto earnings

Today’s pro­ceed­ings begin with Coin­shares’ earn­ings report (2). The asset man­age­ment launched numer­ous new prod­uct lines dur­ing the third quar­ter, includ­ing a Twit­ter bot that aids NFT traders in deter­min­ing fair val­ue. On Tues­day, MicroS­trat­e­gy reports its finan­cial results. The soft­ware com­pa­ny most recent­ly added to its 130,000 BTC hold­ings in September.

On Wednes­day, Robin­hood will present its find­ings. After miss­ing prof­its in August, the retail invest­ing app start­ed cut­ting costs last quar­ter. On Thurs­day, Coin­base will take cen­ter stage, along with Block, Pay­Pal, and Mer­ca­do Libre.

Image source : Tradingview.com

The Macro issues

As the U.S. Fed­er­al Reserve pre­pares to announce its next inter­est rate rise on Wednes­day, it will be anoth­er sig­nif­i­cant week for macro­eco­nom­ic events. Rates are antic­i­pat­ed to rise by anoth­er 75 basis points from the cen­tral bank. Inter­est rate traders claim that the mar­ket is pric­ing in an 89% chance of a 75 basis point hike based on the CME’s Fed­Watch tool (3).

On Mon­day, the rate of infla­tion in the Euro­zone in Europe reached a record high of 10.7%. The ECB con­tin­ued its fight against the rag­ing infla­tion last week by rais­ing rates by 75 basis points. On Thurs­day, the Bank of Eng­land is antic­i­pat­ed to increase inter­est rates by 75 basis points.

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