Commentaries from industry expert Frank Holmes focusing on gold price movements, what's moving markets and what to expect in the metals sector.
Of the cryptocurrencies tracked by CoinMarketCap, the best performer for the week was Bitcoin SV, rising 56.84%.
Bitcoin topped $30,000 for the second time this week on growing expectations that another favorable court action raises the likelihood that an exchange-traded fund holding cryptocurrency will finally be approved, writes Bloomberg.Of the cryptocurrencies tracked by CoinMarketCap, the worst performer for the week was Conflux, down 9.12%.
A key pillar of demand for Ether is weakening against a backdrop of elevated Treasury yields. The staking payout on pledged tokens has fallen to an annualized 3.5%, near the lowest in at least 10 months and well below a recent peak of more than 8%, according to Bloomberg.After months of declining volatility, Bitcoin traders experienced some of the wildest price swings they've seen in a while when a false report circulated saying that the U.S. had approved a long-awaited ETF.
The Federal Deposit Insurance Corp. plans to provide a firmer timeline for dealing with banks' request to get involved with crypto, and to finish assessing the risks digital currencies pose to banks by early next year. The FDIC was responding to concerns highlighted in a report from the agency's inspector general that the agency hasn't done a full analysis of crypto's risks to banks, writes Bloomberg.
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