Bitcoin (BTC) lastly broke above the $50,500 resistance and Ether (ETH) has risen above the $4,000 mark. This implies that there’s rising curiosity in cryptocurrencies and a number of other legacy finance corporations are initiating steps to faucet into this rising demand.

One of many world’s largest impartial asset managers, Franklin Templeton, has posted contemporary job purposes for medium to senior-level positions in crypto buying and selling and analysis, in line with Linkedin job postings.

In the meantime, in Japan, monetary conglomerate SBI Holdings is planning to arrange one of many first crypto funds within the nation by the top of November. Tomoya Asakura, the director and senior managing govt officer at SBI, stated that the launch of a second fund can be explored relying on the success of the primary one.

Every day cryptocurrency market efficiency. Supply: Coin360

Whereas crypto merchants are cheering the current run-up in a number of altcoins, JPMorgan analysts have warned their purchasers that the altcoin rally and nonfungible tokens (NFT) are getting frothy.

The analysts stated that the altcoins share of the crypto market buying and selling surged from 22% at first of August, to 33%, which is excessive in comparison with historic requirements. They imagine the reason being “froth and retail investor ‘mania’ quite than a mirrored image of a structural uptrend.”

May Bitcoin maintain above $50,500 and resume its uptrend or will altcoins stay in focus? Let’s examine the charts of the top-10 cryptocurrencies to search out out.