By Shikha Singh
Crypto Punters Favor Dollar-Cost Averaging When Investing: Kraken survey.
According to Kraken, 83.5% of crypto investors have employed dollar-cost averaging (DCA), with 59% presently doing it. Regular purchases regardless of price lessen market volatility and emotional decision-making with DCA.
46% prefer DCA for volatility hedging, while a third value its consistency. Higher-income investors choose DCA for its advantages, whereas lower-income ones attempt market timing.
DCA was only used by 8% during losses. DCA isn’t ideal, but Kraken said it can reduce market timing stress.
Spirit Blockchain Capital acquires Dogecoin Holdings.
Spirit Blockchain Capital has acquired Dogecoin Portfolio Holdings Corp., the developer behind the
Dogecoin ecosystem, to enhance innovation in digital asset products. While the acquisition amount is
undisclosed, it aims to leverage Dogecoin Holdings’ intellectual property and expertise to strengthen
Spirit’s market position.
Crypto Wallets Deter Gamers From Trying Web3 games: Report.
After surveying 1,000 players, Elympics, the Blockchain Game Alliance, and PlayToEarn released a study on Web3 gaming.
Over 10% of respondents identified bitcoin wallet complexity as a barrier to exploring blockchain gaming.
7.3% didn’t comprehend Web3’s benefits, and 2.4% preferred Web2 games.
The research noted that airdrops, profits, and competitive play attract players.
Dubai, Switzerland, South Korea Crowned Top Crypto Business Locations in 2024.
Dubai, Switzerland, and South Korea are top crypto business hubs for 2024, per Social Capital Markets. Dubai offers 0% capital gains tax and a favorable regulatory framework, while Switzerland boasts 900 crypto firms and no capital gains tax for long-term investors. South Korea ranks third, attracting startups with its evolving regulations and delayed capital gains tax.
BTC Reserves Hit Historic Lows.
Major exchanges’ Bitcoin (BTC) reserves have dropped to 2.58 million, the lowest since 2018, sparking worries of a supply shock.
This big withdrawal shows that investors are taking their assets off-exchange to avoid short-term volatility and anticipate price gains. BTC’s price is now $62,300.
Increased institutional investment, notably via Bitcoin ETFs, which own 4.6% of Bitcoin’s supply, has also reduced reserves.
Gate.io Announces $10 mn Investment in TON Blockchain to Boost Telegram-Based Projects.
Gate.io made a $10 million strategic investment in The Open Network (TON) blockchain on October 8 to improve cooperation with the TON Foundation and expedite Telegram-based initiatives.
This funding will let Gate.io to extend its TON governance and development activities, including developing a CeFi-driven Telegram mini-app and Gate Wallet.
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