Block Earner Bulletin: Jimmy Kimmel is back and so is the bull market

Markets have been unstable, mainly given the geopolitical situation with NATO countries facing increasing pressure from Russia. But we’re here to talk crypto, not politics.

M2 money supply and institutional crypto holdings continue to grow. Both pushing all time highs. Combined with interest rates coming down, there is not only more money in circulation it’s also generating less yield in traditional vehicles. This is generally considered positive for risk-on assets like crypto. Historically, precious metals run up during a flee to safety, if that flee to safety is occurring during a stimulus period (central bank rates falling) Bitcoin typically follows. Uptober is one to watch!

The NASDAQ recently announced its intention to facilitate 24/7 trading via tokenised equities. While details are scarce, there are rumblings of the NASDAQ selecting the Ethereum network as host of this innovation. If that materialises it will be a watershed moment for the ecosystem.

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In this guide, we’ll walk you through how crypto-backed loans work in Australia, what you’ll need to apply, and what to watch out for.

Vanguard, the world's second-largest asset manager with over $10 trillion in AUM, could be set to reverse its long-held stance against digital asset products. In January 2024, when the first spot bitcoin exchange-traded funds launched in the U.S., Vanguard famously said it wouldn't offer access to the new asset class, citing its high volatility as bad for generating long-term returns.

Galaxy Digital CEO Mike Novogratz said Bitcoin’s price could see a significant rally if the next US Federal Reserve chair nominee to replace Jerome Powell is exceptionally dovish. “That’s the potential biggest bull catalyst for Bitcoin and the rest of crypto,” Novogratz said. A dovish stance from the Federal Reserve is generally expected to weaken the US dollar. However, it is often perceived as a bullish catalyst for Bitcoin and other risk assets, as traditional assets such as bonds and term deposits become less lucrative to investors.

Decentralised exchange Aster has caught traders’ attention thanks to its eye-watering 1,001 x leverage options, support from Binance co-founder Changpeng “CZ” Zhao, and a soaring token. Due to its focus on perpetual futures trading, Aster is considered a rival to Hyperliquid—which has been one of the most successful crypto projects of the year. During its first week, it flipped Hyperliquid in daily revenue but remained behind in terms of trading volume.

Disclaimer: The information contained in this blog is general in nature and is provided for informational purposes only. It does not constitute financial, legal, or tax advice, and should not be relied upon as such. Block Earner does not guarantee the accuracy or completeness of any information presented. You should consider your own personal circumstances and seek professional advice before making any financial or investment decisions. Past performance is not indicative of future results. All investments carry risk.