Cryptocurrency market update on October 10

Digital currencies are becoming more popular around the world. It means the number of people who are interested in this market is also growing for the last several years. This is good and at the same time, a serious challenge for the cryptocurrency market. It is an opportunity to convince private as well as governmental organizations that crypto money has a bright future.

There is numerous interesting news connected to cryptocurrencies that happened this week. One of the exciting stories is that crypto exchange Binance launched the eight-phase of its lending products. It means that starting from October 7, customers will have the opportunity to get the fixed-term lending products. This offer for 14-day fixed-term lending products will help to attract subscribers.

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It is essential to mention that this lending program is based on a first-come, first-served principle. The subscription period starts on October 10 and will continue for a month. It will end on November 10. The subscribers will receive the interest as soon as the term matures.

Another interesting information regarding the cryptocurrency market is also about the cryptocurrency exchanges. According to the information, almost 7% of the entire circulating supply of Bitcoin is under the control of eight primary cryptocurrency exchanges. It means that nearly $10 billion in Bitcoin are in the hands of several major exchanges.

Cryptocurrency market on Thursday

Bitcoin, as well as the Ethereum, are the two most significant digital currencies on the market. It is not surprising that investors and analysts pay attention to these currencies. In the last 24-hours, the price of Bitcoin rose by 5%. Meanwhile, Ethereum’s price increased by 5%.

The two largest digital currencies are in a good position. This happened even though the U.S. Securities and Exchange Commission (SEC) did not approve the creation of the exchange-traded fund.

The SEC motivated this decision by saying that the bitcoin exchange-traded fund did not meet requirements.