UAE, 2 Cryptocurrencies to Watch in October 2023

tháng 10 17, 2023

UAE, 2 Cryptocurrencies to Watch in October 2023

UAE, 2 Cryptocurrencies to Watch in October 2023

The world of cryptocurrency has had a relatively quiet year. The market has faced significant challenges and entered a gloomy period.

October is traditionally considered by investors to be the market's most favorable month, hence the nickname "Uptober". However, until now, the situation still seems very bleak.

So this October, which cryptocurrencies should investors pay attention to?

Cryptocurrencies to watch out for in mid-October 2023

Bitcoin

For Bitcoin, October has always been positive, Bitcoin has historically demonstrated strong performance in October, boasting an average monthly return of 6.5% since 2013, surpassing its performance. in any other month of the year.

The US SEC is currently in the process of evaluating several Bitcoin spot ETFs for approval.

If any of these ETFs get the green light, it could potentially trigger a notable influx of new capital into the Bitcoin market. Additionally, the upcoming Bitcoin Halving event, scheduled for May 2024, is also a major catalyst for BTC's price increase. These Halving events often usher in a period of increased price volatility.

Furthermore, there has been attention surrounding the activities of large holders of Bitcoin, often referred to as “whales.” Over the past 48 hours, these whales have made purchases totaling approximately $3.2 million.

This is considered a bullish signal for BTC as these “large wallets” are actively accumulating more BTC with confidence in the long-term growth potential in the cryptocurrency market. At the time of writing, BTC is trading at $27,902 with a daily gain of 3.82%.

MTG

It appears that MTG recently locked up a significant amount of BNB and MTG in blockchain addresses connected to the exchange. According to the filing, more than 350 million MTG, worth $4.55 million at current exchange rates, was staked in separate transactions.

Furthermore, Matrix Global has cooperated with Cryptocurrency Centers such as DMCC (Dubai Multi Commodities Center) as ecosystem partners. claims that this partnership will help enhance Dapp services and enable its members to develop their projects through the use of the MTG ecosystem.

The cooperation of Matrix Global and financial units has helped MTG price increase significantly in recent trading hours. MTG is also the main raw material to operate MTG Nodes, helping Stake packages increase profits and earn more TECs. At the time of writing, MTG is trading at $0.013, with a 30% increase from the time of publication.