BNB's market capitalization exceeds $177 billion, setting a new record and surpassing Tether
according to 8MarketCap data, the market value of BNB continues to rise and has exceeded 177 billion US dollars, with a 24-hour increase of 4.74%, surpassing institutions such as Intel and Mitsubishi UFJ Financial Group, rising to 125th place in the global asset market value ranking. According to Coingecko data, the market value of BNB is now reported to be 177,975,068,762 US dollars, surpassing Tether to rank fourth in the market value of cryptocurrency assets.
Bitcoin retreats after hitting record high due to profit-taking
data from the London Stock Exchange Group shows that after Bitcoin hit a historical high in the previous trading day, there was a decline due to profit-taking by traders. James Madden, Director of Trading at Deus X Pay, stated in a report that the previous rise in Bitcoin was driven by institutional demand, macroeconomic positives, and seasonal momentum. In the week ending October 3, the inflow of funds into Bitcoin spot exchange-traded funds reached $3.2 billion. He further pointed out that macroeconomic support factors include market expectations that the Federal Reserve will further cut interest rates; and against the backdrop of the U.S. government shutdown, the correlation between Bitcoin and gold prices is increasing. In addition, historical data shows that Bitcoin often shows an upward trend in October.