Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Today in crypto, non-fungible tokens (NFTs) recorded a monthly sales volume of $356 million in October, an 18% increase from the September record low, Swiss investment bank UBS has launched a tokenized fund on the Ethereum blockchain network, and asset manager 21Shares filed to list a spot XRP exchange-traded fund (ETF).
NFT sales surge 18% as all-time volume on Solana nears $6 billion
Non-fungible tokens (NFTs) broke their seven-month downward trend in October as digital collectibles recorded an 18% increase in volume.
Since recording a monthly volume of $1.6 billion in March, its highest in 2024, NFT volumes have been on a downward trajectory.
It continued through September when NFTs reached their lowest monthly volume since 2021.
CryptoSlam data shows that NFTs only had a volume of about $300 million in September 2024, a 20% decrease from August’s record. However, despite continuously getting lower in 2024, NFTs’ monthly sales volume saw a brief recovery in October.
NFTs also had an increase in total number of transactions. In October, NFT transactions totaled 7.2 million, a 42% increase from September’s five million transactions.
Mythos Chain-based NFT collection DMarket led the last 30 days in sales volume with $33 million in sales. The collection was followed by the Immutable-based collection Guild of Guardians Heroes, which had a volume of $13 million.
UBS launches tokenized fund, puts ETH “into the heart” of TradFi
The Union Bank of Switzerland (UBS) has rolled out a tokenized fund on the Ethereum blockchain network after highlighting the increasing interest among investors in tokenized financial assets.
In a Nov. 1 statement, the bank launched the money market fund built on the Ethereum network as the “UBS USD Money Market Investment Fund Token,” also known as the “uMINT.”
UBS APAC co-head Thomas Kaegi explained that the firm has “seen a growing investor appetite for tokenized financial assets across asset classes.”
Crypto commentators are bullish that the move will have a positive impact on Ether’s ETH$2,487.32 price.
“This move is like putting ETH right into the heart of traditional finance,” popular crypto show Mario Nawfal’s Roundtable wrote in a Nov. 1 X post.
Meanwhile, crypto analyst Tony Edward commented on the news, saying, “If you don’t have some exposure to ETH, you’re going to miss out on gains.”
21Shares seeks approval to list spot XRP ETF
Asset manager 21Shares has become the third company to apply for a spot XRP ETF with the US Securities and Exchange Commission (SEC).
The Nov. 1 filing from 21Shares sought approval from the securities regulator to list and trade the Core XRP Trust. According to the filing, the trust offers investors an “opportunity to indirectly access the market.”
The Coinbase Custody Trust Company will serve as the custodian should the ETF be approved.
21Shares’ application followed a similar proposal from Bitwise in early October. At the time, Bitwise said blockchain technology would “usher in new, apolotical monetary assets.”
The SEC has approved several spot Bitcoin and Ethereum ETFs this year but has yet to make a decision on XRP applications amid its ongoing lawsuit with Ripple Labs.
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