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October was a great month for crypto, both from a performance and regulatory standpoint. The overall market cap surged above $2.8T. This was supported by regulatory approval of the Bitcoin futures ETF. Bitcoin was able to hit an all-time high above over $67K and even after the pullback, was able to hold above $60K. October was the highest monthly close on record for the asset.
Ethereum also saw strong gains during the quarter driven by a resurgence in new DeFi projects like OHM, Tokemak and others. Ethereum also saw an all-time high of $4,400+ and had a record monthly close of $4,200+.
Harsharn Singh
Investment Associate | Ember Fund
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