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Crypto

Bitcoin holds $80,000 as stablecoin payments spread

Over the past week, the global crypto market’s key theme was resilience. Bitcoin held $80,000 despite a CPI shock, while XRP defended $1.30 even as public interest faded. Investors are watching U.S. PMI data and the Oct. 27-28 FOMC, as well as Ripple’s Swell event. Stablecoins and tokenisation are spreading into mainstream payment rails. In South Korea, tax deferral bills and a forthcoming digital assets framework are emerging variables.

Crypto

China seeks forfeiture of crypto worth about $5 billion in investment fraud case

Chinese authorities have started procedures to confiscate about $5 billion worth of bitcoin and millions of units of XRP and dogecoin linked to a major investment fraud case, a blockchain outlet reported. A Tianjin court accepted an application to forfeit crypto seized from Chen Zhimin, who was convicted of money laundering. The seizure list includes 61,896.41552945 bitcoin and other tokens. Assets also include cash, jewellery, deposits and portfolios.

Crypto

XRP market cap nears 6 percent of bitcoin, can it regain peak status

XRP’s market capitalisation has climbed to near 6 percent of bitcoin’s, according to figures cited by The Crypto Basic. Grayscale Investments put XRP at almost 6 percent of bitcoin’s value based on 30-day average market caps using data from Artemis, FTSE Russell and Grayscale. As of Sept. 28, bitcoin’s market cap was about $1.678 trillion and XRP’s was $94.08 billion, or about 5.6 percent. Grayscale classed bitcoin as a core asset and XRP as a supplementary candidate.