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- Bitcoin (BTC-USD +0.1%) is ahead marginally on Monday morning; ethereum (ETH-USD -1.5%), is also taking a breather after a 17% advance over the past five days.
- Looking a bit further out, bitcoin (BTC-USD) is down 5% on a month-over-month basis, while ether (ETH-USD) slumps 14%.
- Comparing that to the Grayscale Bitcoin Trust (OTC:GBTC +1.0%) and Grayscale Ethereum Trust (OTCQX:ETHE +2.8%), not surprisingly, presents similar returns to the tokens, with GBTC up 8.7% in the past five trading days, while ETHE gains 10%, though still under pressure M/M.
- For company specific news, crypto miner Marathon Digital Holdings (MARA -1.6%) said its bitcoin production surged 91% in Q3, in addition to securing a $100M revolving line of credit with Silvergate Bank (SI -0.9%).
- In the meantime, El Salvador, a Latin American country that recently adopted bitcoin (BTC-USD) as legal tender, said over 3M Salvadorans - nearly half of the total population - are using its Chivo wallet app in less than a month, according to President Nayib Bukele's tweet.
- As the two largest cryptos turn slightly negative, crypto-related stocks are mostly edging lower on the day including: Riot Blockchain (RIOT -4.4%), Bit Digital (BTBT -6.3%), Hut 8 Mining (HUT -3.7%), Bitfarms, (BITF -2.9%), CleanSpark (CLSK -3.4%), ISW Holdings (OTCPK:ISWH -5.2%) and Argo Blockchain (ARBK -3.6%).
- Previously (Oct. 1), bitcoin bounced 10% amid equity weakness, El Salvador mining, Uptober.
