Crypto investors expect spot ETFs on bitcoin and ether to be approved soon, adding to their optimism and driving the cryptocurrency higher. But if it happens sooner, there will be a period when everyone who has applied can be approved.”
This week’s gains, coupled with a decline in Tesla shares, have put bitcoin on the cusp of the top 10 in terms of capitalization among all global assets: as of Nov. 10, 2023, BTC ranks 11th at $718.28 billion.
Interestingly, the rise in bitcoin’s value has been accompanied by a rise in transaction fees. Thus, on November 9, 2023, they were $15,865. The last time the commissions reached these levels was in early May 2023