Crypto markets moved sideways amid an ongoing consolidation phase, with bitcoin (BTC) remaining flat at 0.1%, ether (ETH) rising 0.6%, and Solana (SOL) gaining 0.3%. The Nasdaq Crypto Index™ (NCI™) rose 0.1% for the week.

Samsung Pay adds crypto payment option with Alchemy Pay integration

Alchemy Pay integrated its virtual card service with Samsung Pay enabling users to make both cryptocurrency payments and purchases at supported retailers, such as Amazon, Netflix and eBay, using the Samsung Pay app together with the Alchemy Pay virtual card. This move is part of Alchemy Pay’s broader strategy to expand payment options and enhance cryptocurrency adoption across major platforms, signaling a growing acceptance of crypto payment methods.

US Agriculture Dept approves blockchain-based certification system

The US Department of Agriculture (USDA) has approved a blockchain-based certification system from CattleProof, using it to track individual cows through a decentralized digital ledger, recording this data on their health and location immutably. The USDA’s endorsement signals compliance with regulatory standards and highlights a growing interest in blockchain, showcasing the potential uses of blockchain technology on the traditional world and enhancing transparency in agriculture.

Nearly half of hedge funds have exposure to crypto

A survey by AIMA and PwC revealed that 47% of traditional hedge funds have exposure to digital assets, showing a 27% rise in comparison to 2022, which was potentially driven by increased regulatory clarity in key markets like the U.S. and Asia. The increasing participation of traditional hedge funds in the digital asset market signals greater institutional acceptance and confidence in crypto, which can enhance liquidity and legitimacy, potentially attracting more institutional investors.

AuAg Funds VD Eric Strand pratade med Proactives Stephen Gunnion om den senaste tidens uppåtgående fart i guld– och silverpriserna och potentialen för fortsatt tillväxt. Strand lyfte fram att AuAg Funds har höjt sitt prismål för guld från $2 475 till $2 750 när metallen närmar sig rekordnivåer. När han diskuterade viktiga drivkrafter påpekade han effekterna av räntesänkningar, kommande val i USA och Kinas stimulansinsatser.

Strand betonade att kommersiella kortsäljare har kämpat för att hantera guld- och silverpriserna, vilket skapar potentialen för en kort squeeze som ytterligare kan öka dessa marknader. Han berörde också det förbättrade guld-silver-förhållandet och förutspådde att silver kunde överträffa guld med ett mål på $39 per ounce.

Strand uttryckte optimism om AuAgs Silver Bullet Fund, som har överstigit 100 miljoner euro och fortsätter att nå nya toppar. Han förväntar sig ökade marginaler inom gruvsektorn när energipriserna stabiliseras, vilket leder till starka finansiella resultat för gruvarbetare. Trots potentiell kortsiktig volatilitet från det amerikanska valet tror han att guld och silver förblir redo för ytterligare vinster.

Handla AuAg Silver Bullet

AuAg Silver Bullet är tillgänglig på samtliga stora fondplattformar, till exempel Fondo, Levler, Avanza, Nordnet och SAVR.

Hashdex research team has just released the Hashdex Q3’24 edition of our Market Pulse quarterly report. Below are some of the most notable insights from the last quarter:

Report link: Hashdex Q3’24 Market Pulse

• Ecosystem developments: While initial adoption of spot ETH ETFs underperformed, Ethereum’s ecosystem metrics remained strong and Solana achieved new milestones, positioning itself as a major competitor in the smart contracts space.

• Institutional adoption: This quarter saw more public pension funds following Wisconsin’s lead in allocating to spot BTC ETFs. Key announcements include Sony launching an Ethereum L2, Solana’s first private credit fund, and Visa enabling fiat-backed token issuance on Ethereum.

• Easing and elections: Global liquidity is rising as the Fed ends its tightening cycle and China rolls out large-scale stimulus. Additionally, the growing importance of ”crypto voters” indicates a bipartisan push for favorable regulation in the US post-elections.

Strengthening competition in smart contracts and bitcoin’s status as a pristine asset continue to build a strong case for diversified crypto investing.

With bitcoin’s recovery likely in its final stages, global monetary easing gaining momentum, and a favorable US regulatory outlook, conditions appear ideal for the current cycle to align with previous ones, potentially leading to a new bull phase as we approach 2025.

Below a selection of interesting slides from this report:

Long-term trend BTC + ETH

Volatility and Correlation

Bitcoin’s accumulation phase

Pension funds allocation to Bitcoin

Nasdaq Crypto Index in Q3’24

Source: Hashdex Research, as of 30 September 2024.