Is Bitcoin ready to reach new record levels after hitting a recent ATH? Let’s explore the latest crypto market news and trends for Oct. 6.
Grayscale has announced the launch of a staking feature for its US-listed spot Ethereum ETFs, dubbed the Grayscale Ethereum Trust (ETHE) and the Grayscale Ethereum Mini Trust (ETH).
In addition to its Ethereum products, Grayscale has also introduced its Solana Trust (GSOL), which will enable investors to earn SOL staking rewards through a traditional brokerage framework.
Looking for more details? You can find more info here.
PancakeSwap’s native token, CAKE, is experiencing a strong bullish rally. The token jumped over 12% in the past 24 hours, accompanied by a nearly 104% spike in trading volume. Over the past week, CAKE has increased by close to 44%, pushing its monthly gains to an impressive 55%, according to CoinMarketCap.
The rally coincides with the launch of PancakeSwap’s highly anticipated CAKE.PAD. It is a streamlined early-access token launch platform designed to transform how users engage with new project offerings.
Read more about it on Coinspeaker.
Bitcoin is leaving exchanges fast. Data from Glassnode shows that wallets on platforms like Binance, Bitget, and Coinbase now hold just over 2.8 million BTC. It is the lowest level since June 2019.
Back then, Bitcoin was worth about $8,745. Now, with a new all-time high of $125,506, the drop in exchange supply could spark even more investor interest as traders look to accumulate.
Digital asset funds saw record demand last week, with CoinShares reporting $5.95 billion in inflows, the largest weekly total ever.
The rise followed weak US jobs data, a Fed rate cut, and renewed political uncertainty tied to potential government shutdown risks.
The US led inflows with $5 billion, followed by Switzerland ($563M) and Germany ($312M).
According to data from Tokenomist, more than $555 million worth of tokens are scheduled to be unlocked between October 6 and October 13.
This upcoming wave of unlocks spans dozens of projects and coincides with a notable rise in the Altcoin Season Index.
More details can be found here.