Global #market capitalization

October has proven to be a remarkable month for the SUI ecosystem, as it continues to draw significant attention from investors. Amidst a backdrop of stalled recovery for many altcoins, SUI has reached new heights, achieving an all-time high (ATH) of $2.16 this month.

As of now, Ethereum is experiencing a notable decline, reflecting a broader downturn in the cryptocurrency market. With a nearly 2% drop in value, Ethereum, alongside Bitcoin and other leading altcoins, is contributing to a decrease in the total market capitalization, which has fallen to approximately $2.17 trillion.

The cryptocurrency mining landscape has experienced notable changes recently, particularly in Bitcoin’s hashrate and miner revenues. As of now, the hashrate has increased by 2% since August, reaching a significant 643 exahash per second (EH/s).

In recent weeks, the world’s largest cryptocurrency by market capitalization, Bitcoin, has seen a notable downturn, dropping below the $59,000 mark.

The stablecoin market has reached a new all-time high with a market capitalization of $168 billion, marking 11 consecutive months of growth. This milestone surpasses the previous peak of $167 billion recorded in March 2022.

Bitcoin (BTC) saw its price peak at nearly $62,000 yesterday, only to face a sharp rejection and fall back by approximately $4,000. This volatile movement has significantly impacted the broader cryptocurrency market, leading to declines across major altcoins as well.