Key Takeaways
- • Bitwise CIO Matt Hougan says the third quarter's charts resemble the start of a crypto spring, with the firm's large-cap crypto index up 46.4% in the quarter but still down 6.2% year to date through September, per Cointelegraph.
- • Q3 gains were broad: Bitcoin rose 42.3%, Ether 69.1%, Solana 59.2% and Chainlink 97.6%, per Bitwise and Cointelegraph.
- • US spot Bitcoin funds took in about $6 billion over the three months, turning their year-to-date flows positive, according to TokenPost.
- • Uniswap (UNI) trades at $7.46, about 84% below its May 2021 record of $44.97, while Bitcoin Cash (BCH) at $276 sits about 94% below its December 2017 high of $4,355.62, per CoinMarketCap.
- • This article is sponsored promotional content for Pepeto, a meme coin presale; its claims about presale size, bridge performance and price projections are the publisher's and are not independently verified.
Summary
Bitwise Chief Investment Officer Matt Hougan says the third quarter's market action may mark the start of a crypto spring, and that the quarter could rank among the best in crypto's history, Cointelegraph reported on October 14. Bitwise's large-cap crypto index climbed 46.4% in the quarter, yet it remained down 6.2% for the year through September. The gains were spread across chains, with Bitcoin up 42.3%, Ether up 69.1%, Solana up 59.2% and Chainlink up 97.6%, according to Bitwise.
Flows supported the rally. US spot Bitcoin funds took in roughly $6 billion over the three months, which TokenPost reported the same day, turning their year-to-date flows positive. Momentum has also reached some older tokens. A whale wallet has accumulated 1,292,895 UNI, worth about $9.6 million, since October 11, TokenPost reported on October 13. UNI trades at $7.46 on CoinMarketCap, roughly 84% below its $44.97 record from May 2021, and Uniswap charges a 0.30% fee on trades. Bitcoin Cash rose 25.4% over 30 days against 7.1% for Bitcoin, according to 24/7 Wall St, reported October 14. BCH sells for $276, about 94% below its December 2017 record.
The article also promotes Pepeto, a meme coin in presale that it says has raised over $11.2 million at a stage price of $0.0000001901 and offers a cross-chain bridge and a 0% fee exchange. The publisher states that the bridge supports transfers among Ethereum, BNB Chain, Solana, Base and Arbitrum, and completes in under 60 seconds. It further describes an upcoming Binance listing and projects that the token could reach 100x after listing, which the article itself characterizes as not a promise. These promotional claims are unverified. The article's own disclaimer notes that crypto carries risk.
Flows supported the rally. US spot Bitcoin funds took in roughly $6 billion over the three months, which TokenPost reported the same day, turning their year-to-date flows positive. Momentum has also reached some older tokens. A whale wallet has accumulated 1,292,895 UNI, worth about $9.6 million, since October 11, TokenPost reported on October 13. UNI trades at $7.46 on CoinMarketCap, roughly 84% below its $44.97 record from May 2021, and Uniswap charges a 0.30% fee on trades. Bitcoin Cash rose 25.4% over 30 days against 7.1% for Bitcoin, according to 24/7 Wall St, reported October 14. BCH sells for $276, about 94% below its December 2017 record.
The article also promotes Pepeto, a meme coin in presale that it says has raised over $11.2 million at a stage price of $0.0000001901 and offers a cross-chain bridge and a 0% fee exchange. The publisher states that the bridge supports transfers among Ethereum, BNB Chain, Solana, Base and Arbitrum, and completes in under 60 seconds. It further describes an upcoming Binance listing and projects that the token could reach 100x after listing, which the article itself characterizes as not a promise. These promotional claims are unverified. The article's own disclaimer notes that crypto carries risk.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.