Global #crypto market

The crypto market has witnessed a significant liquidity boost, driven primarily by the growth of stablecoins. According to data from CryptoQuant, the total market capitalization of major USD-backed stablecoins reached a staggering $169 billion in late September, marking a 31% increase year-to-date.

In a notable development in the cryptocurrency landscape, Shiba Inu (SHIB) has experienced a remarkable 109% surge in large transaction volume over the past 24 hours.

As October dawned, analysts and investors were filled with optimism, expecting a repeat of the historical bullish trend known as “Uptober.” However, this optimism was quickly overshadowed by shocking market movements, leading some observers to dub the month “Rektober.”

Japan is currently navigating a challenging economic landscape marked by rising prices and subdued consumer spending. In response, Prime Minister Shigeru Ishiba is proposing a strategy centered on increasing wages to stimulate economic activity.

South Korea's Financial Services Commission (FSC) has approved the establishment of the Digital Asset Protection Foundation, a nonprofit organization aimed at safeguarding crypto assets and blockchain belongings.

Despite a 2021 ban on cryptocurrency trading, China's over-the-counter (OTC) crypto market continues to flourish. A new report from Chainalysis reveals that these platforms have seen significant inflows of $20 billion per quarter on average through June, totaling $75.4 billion for the nine months.