Nearly 50% of millennials and Gen Z want to include crypto in retirement savings. At the same time, Moldovan authorities banned crypto mining, and Amazon users set to pay for orders using Venmo – these and other stories in our market news roundup for Oct. 26, 2022.
Price action of leading market cap cryptos
According to TradingView, Bitcoin traded at $20,741 at press time. In the previous 24 hours, it had reached a trough of $20,036.39 and a peak of $21,001.
Ethereum, the second-largest cryptocurrency by market capitalization, began the day in an uptrend, hitting a peak of $1,593 in the last 24 hours.
Five of the top ten crypto assets by market capitalization recorded positive behavior in the last 24 hours and eight in the previous seven days. Dogecoin is the highest 24-hour gainer, netting a 9.69% price increase, while Ethereum is the highest seven-day gainer, recording a 19.75% increase.
Amongst the top 100 cryptos by market cap, TonCoin has gained the most in the last 24 hours and seven days. It has increased by 17% and 52.8%, in those time frames respectively. Quant has dropped 4.08% over the previous 24 hours. This is the highest drop of all top 100 cryptos. MKR, the governance token of the MakerDAO protocol, dropped the most in the last seven days, falling 13.3%.
The main crypto news on Oct. 26
- Users of Amazon, one of the most prominent e-commerce platforms, will be able to pay for purchases using cryptocurrencies with Venmo. This information was revealed in a press release.
Amazon representatives say that customers can use Venmo to pay for purchases on Amazon.com and the Amazon mobile app starting on Nov. 25, 2022. Recall that PayPal owns Venmo. After the news, Amazon’s shares rose 7%.
- Today, cryptocurrency mining is banned in Moldova as local regulators grapple with the country’s energy crisis. The announcement was made on the government’s website.
The local Commission for Emergency Situations decided to ban mining. It also prohibits importing equipment or engaging in any activities related to mining.
- According to a study by analysts at Schwab Workplace Financial Services, almost 50% of millennials and Gen Z want to add crypto to their retirement portfolios.
Gen Z refers to people born between 1997 and 2012 or 1990 and 2010. It depends on which system you look at. Millennials include those born between 1981 and 1996 or 1980-1990.
The study’s authors also found that 43% of Gen Z and 47% of millennials invest in crypto. This while saving for retirement using 401(k) plans.
BeInCrypto recently reported that Twitter was allegedly developing its own crypto wallet.
For Be[In]Crypto’s latest Bitcoin (BTC) analysis, click here
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