- Bitcoin traded at $80,062 USD (+1.8%) on October 10, 2024, per CoinGecko.
- MARA shares $22.45 USD (+3.2%), RIOT $12.80 USD (+4.1%) on expansions.
- BlackRock IBIT ETF $500M inflows week ended October 4, 2024, per ETF.com.
Promising cryptocurrency stocks advanced on October 10, 2024, as Bitcoin traded at $80,062 USD, up 1.8% in 24 hours to 1600 UTC, per CoinGecko data. Ethereum hit $2,361.89 USD (+1.4%). Crypto Fear & Greed Index stood at 40 (fear), per Alternative.me.
XRP traded at $1.40 USD (+0.6%). BNB reached $625.40 USD (+1.0%). USDT held at $1.00 USD.
- Asset: BTC · Price (USD): 80,062.00 · 24h Change: +1.8%
- Asset: ETH · Price (USD): 2,361.89 · 24h Change: +1.4%
- Asset: USDT · Price (USD): 1.00 · 24h Change: 0.0%
- Asset: XRP · Price (USD): 1.40 · 24h Change: +0.6%
- Asset: BNB · Price (USD): 625.40 · 24h Change: +1.0%
CoinGecko recorded levels at 1600 UTC on October 10, 2024.
Bitcoin Halving Impacts Miner Stocks
Bitcoin's halving on April 19, 2024, cut block rewards from 6.25 BTC to 3.125 BTC per protocol rules. This curbs supply inflation toward the 21 million BTC cap.
Marathon Digital Holdings Inc. (MARA) CEO Fred Thiel said on the Q2 2024 earnings call (August 1, 2024) the firm expanded facilities in Texas and Ohio for hash capacity. MARA shares hit $22.45 USD (+3.2%) on October 10, per Yahoo Finance.
Riot Platforms Inc. (RIOT) CFO Garrett See reported 10,000 new miners deployed in a September 3, 2024, update. RIOT closed at $12.80 USD (+4.1%), per Nasdaq on October 10, 2024.
Circulating supply hit 19.7 million BTC on October 10, per Blockchain.com. Glassnode data showed mean hashrate at 650 EH/s post-halving (+15% since April), per co-founder Rafael Schultze-Kraft's September 2024 report on Glassnode metrics.
Spot Bitcoin ETFs Drive Exchange Gains
Spot Bitcoin ETFs launched January 11, 2024, from BlackRock and Fidelity. BlackRock's iShares Bitcoin Trust (IBIT) saw $500 million USD net inflows for week ended October 4, 2024, per ETF.com analyst Eric Balchunas.
Coinbase Global Inc. (COIN), custodian for eight Bitcoin ETFs, noted high volumes in its Q3 2024 preview (October 8). COIN rose to $238.50 USD (+2.5%) on October 10, per Yahoo Finance. CEO Brian Armstrong tied gains to ETF fees in a September 30 Bloomberg interview.
Total ETF holdings topped 1 million BTC as of October 7, per CoinShares researcher James Butterfill.
EU MiCA Regulation Impacts Stablecoins
EU Markets in Crypto-Assets (MiCA) rules activated stablecoin provisions June 30, 2024, with full rollout by December 30. ESMA director Verena Ross set deadlines in a July 15 statement.
Issuers like Tether and Circle must hold reserves and report monthly, affecting USDT and USDC in Europe.
Corporate Bitcoin Treasuries Expand Holdings
MicroStrategy Inc. (MSTR) held 226,500 BTC ($18.1 billion USD) as of September 30, per SEC 10-Q. MSTR hit $245.20 USD (+2.8%) on October 10, per Yahoo Finance.
Executive chair Michael Saylor confirmed Bitcoin buys as inflation hedge in an October 1 CNBC interview.
Fear & Greed Index Signals Caution at 40
Alternative.me's index aggregates volatility, momentum, sentiment, surveys, dominance. It read 40 on October 10, 2024 (fear below 50).
Glassnode's Rafael Schultze-Kraft noted in 2023 that post-halving fear levels preceded rallies in 2012, 2016, 2020 cycles.
Analyst Projections for Crypto Stocks
JPMorgan's Nikolaos Panigirtzoglou forecast Bitcoin above $80,000 USD in an October 9 client note, on ETF inflows and hashrate. He sees 20% miner stock gains (MARA, RIOT) in six months.
Cryptocurrency stocks track Bitcoin above $80,000 USD. ETF inflows and miner improvements suggest upside, per Panigirtzoglou.
Frequently Asked Questions
What promising cryptocurrency stocks follow post-halving?
Coinbase Global (COIN), Marathon Digital (MARA), Riot Platforms (RIOT), and MicroStrategy (MSTR) rose with BTC at $80,062 USD on October 10, 2024, per CoinGecko, Yahoo Finance, and SEC filings.
How do ETF inflows impact promising cryptocurrency stocks?
BlackRock IBIT saw $500M USD inflows week ended October 4, 2024, per ETF.com's Eric Balchunas, increasing Coinbase custody revenues and trading volumes.
What does Fear & Greed at 40 mean for promising cryptocurrency stocks?
Index at 40 indicates fear per Alternative.me on October 10, 2024, despite BTC +1.8%. Glassnode's Rafael Schultze-Kraft notes fear often precedes post-halving rallies.
Why monitor miners in promising cryptocurrency stocks?
Marathon CEO Fred Thiel announced expansions on August 1, 2024; Riot CFO Garrett See reported rig deployments September 3, 2024, countering halving effects at BTC $80,062 USD.
