Binance surpasses $100 trillion in trading volume.

Welcome back to the Daily Coinsauce Newsletter! Let’s dive into today’s updates—there’s a lot to unpack!

📅 Today

Ethereum X Gold 🙏 

In a rare and perhaps unprecedented market development, gold and Ethereum prices have converged, with both assets hovering around the same value.

Both assets are trading at around $2,700, making 1 ETH equal in value to 1 ounce of gold.

Despite this convergence in price, the market cap of both assets is still quite different. While Ethereum is trading at a market cap of $321 billion, Gold’s market cap is over $18.6 trillion, roughly 60 times higher.

We at Coinsauce continue to maintain a bullish stance on both Ethereum and Gold for the medium term future. We believe that Ethereum will rally much higher and faster than Gold once the crypto bull run begins.

Binance Crosses $100 Trillion in Trade Volume ❗️ 

Binance, the world’s largest cryptocurrency exchange, has become the first centralized exchange to surpass $100 trillion in total spot and derivatives trading volume. OKX follows in second place with a lifetime volume of $25 trillion.

Beyond its trading dominance, Binance is expanding in Africa, integrating mobile money payments in countries like Benin, Cameroon, Ivory Coast, the Democratic Republic of the Congo, Togo, and Senegal, making crypto purchases more accessible.

• Weekly on-chain insights.

• 3-5 altcoin chart setups.

• In-depth Bitcoin price updates.

• Occasional in-depth reports on altcoin gems.

• VC funding roundups.

• Market cycle insights.

• Premium Telegram trading group, and more.

🌎 Other News

• Indonesia Extends Deadline for Crypto Exchange License Requirements Following Regulatory Updates Read more

• BlackRock's IBIT investors throw $329M into ETF as Bitcoin dips 3% Read more

• Ex-CEO of Mine Digital stole $1.5M from a Bitcoiner, says regulator Read more

• Putin Blasts US Sanctions, Reveals 95% of Russian Trade Now Dollar-Free Read more

• Nomura-Backed Crypto Custodian Komainu Makes First Acquisition Read more

• Ripple Labs Founder Donates Another $10 Million in XRP to Support Kamala Harris Read more

• I Just Like Dogecoin': Elon Musk Pumps Meme Coin to 4-Month High Read more

• Stripe Confirms Plans to Acquire Stablecoin Platform Bridge Read more

• Bitcoin Pulls Back Below $67K

• Today, the NBA is back, so we took a look at some of the players invested in crypto. Read More

📕 Educational

Gold's market capitalization has hit a record $18.4 TRILLION.

Since 2019, the market value of gold has officially DOUBLED.

This comes as gold prices surpassed $2,750 for the first time in history and are up 33% year-to-date.

By comparison, the market cap of the US stock market is ~$57.0 trillion, or three times higher.

At the same time, Bitcoin’s value is ~$1.4 trillion, or 13 times lower.

This is good for Bitcoin because the higher gold goes, the higher BTC can as well since it is now directly compared to digital gold.

Source: The Kobeissi Newsletter.

📊 Stat of the day

Cryptocurrency donations for the 2024 U.S. election have surpassed $190 million, highlighting the growing role of digital assets in political campaigns.

🤣 Meme of the day

That concludes our update for today!

We appreciate you joining us for the latest news. We aim to provide the best-in-class insights and highlights that keep you well-informed and ready.

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Disclaimer: None of the content shared in the newsletter is financial advice. Always do your own research and analysis before investing.