Track live updates for Bitcoin and top altcoins to learn what is driving the recent downturn on the crypto market.
Zerohash Europe has received official approval under the European Union’s MiCA framework. The license granted by the Dutch Authority for the Financial Markets (AFM) will enable Zerohash to offer regulated crypto and stablecoin infrastructure services across the European Economic Area.
It means that Zerohash will be able to provide B2B2C embedded crypto and stablecoin solutions to banks, fintechs, and payment platforms in the region.
Zerohash currently works with a range of prominent names, including Interactive Brokers, Morgan Stanley, Franklin Templeton, Stripe, and Worldpay.
Stablecoin transaction volume on Ethereum climbed to $2.82 trillion in October. This figure demonstrates a 45% increase from September’s $1.94 trillion. The surge set a new all-time monthly high, fueled primarily by USDC ($1.62 trillion) and USDT ($895.5 billion).
Meanwhile, MakerDAO’s DAI ranked third with $136 billion in volume, which is a slight decline from September and well below its May peak of $470.7 billion.
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Solana (SOL) is currently trading at $174.89, reflecting a 5.61% decline in the past 24 hours and a 12.81% drop over the past week.
The downturn in SOL mirrors a broader market correction, as global cryptocurrency capitalization has fallen by more than 3% in the last day.
This Solana price drop comes despite strong investor interest in the newly launched ETFs tracking the asset. These products have drawn over $199 million in inflows during their first week of trading.
On Nov. 2, Binance co-founder Changpeng Zhao revealed that he had purchased $2.5 million worth of ASTER tokens. Following this news, the altcoin jumped 40% and hit the level of $1.25. However, the token has since faced heavy selling pressure, wiping out nearly all of its intraday gains.
At the current moment, ASTER is trading at $0.9992.
Hong Kong’s Securities and Futures Commission (SFC) has signaled a potential relaxation of its cryptocurrency trading rules. It will permit locally licensed virtual asset trading platforms to share global order books with their overseas affiliates.
The new policy would enable access to larger international liquidity pools, connecting more buyers and sellers. This, in turn, is expected to enhance price efficiency for traders and boost overall crypto trading activity in Hong Kong.
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