Bitcoin is trading at the $46,900 mark. Ethereum strengthened to the level of $3,500, and the price of XRP fell to $1.11. The total capitalization of the digital currency market was $2.15 trillion.
The US Securities and Exchange Commission has once again postponed a decision on VanEck's application to create a bitcoin-based exchange-traded fund. In the latter case, the deadline was postponed for another 60 days, that is, until November 14. According to the current rules, the SEC can postpone the consideration of such applications only three times, which happened with the VanEck appeal. The company was one of the first to make a proposal to launch a bitcoin ETF during the current cycle, so the timing in its case came earlier. The SEC must complete its consideration of the application before the specified date, since it will not be able to postpone the deadline any further. According to the regulator itself, by this time it is necessary to either approve or reject the proposed changes. In previous times, the SEC postponed the deadline under the pretext of the need to collect additional comments. According to the company Chainalysis, decentralized finance attracts more and more institutional investors. In the second quarter, they took the lead in terms of transaction volumes. Large transactions of institutional investors with a volume of over $10 million accounted for more than 60% of transactions in the field of DeFi. At the same time, in the whole cryptocurrency industry, such transactions take up less than 50%. Thus, large investors are trying to increase profits by participating in DeFi projects. Now they are interested not only in bitcoin-based investment products, but also in other investment opportunities related to cryptocurrencies. Earlier, Chainalysis analysts reported that at the moment the US is the leader in the use of DeFi projects.
The forecast expects bitcoin to decline to the levels of 46500, 46000 and 45000 dollars. Ethereum will decline to the levels of 3450, 3400 and 3000 dollars, and XRP - to the price values of 1.10, 1.05 and 1 dollar.