Crypto Flipsider News – ETH Strengthens Positions, Aussie’s Largest

Read in the Digest

• Hits New All-Time High, Chances of an ETH ETF Higher than Spot ETF
• Metaverse News Bites: Microsoft (NASDAQ:) and Nike (NYSE:) to Enter the Metaverse, MANA Spikes 400%
• Australia’s Largest Bank to Integrate Crypto Services in App
• Miami Mayor Says He Will Take Next Paycheck 100% in BTC

Ethereum Hits New All-Time High, Chances of an ETH ETF Higher than Bitcoin Spot ETF

The world’s second-largest crypto, Ethereum, has reached a new all-time high barely a week after setting an ATH. On Wednesday, November 3, ETH recorded an intraday gain of 5.5%, helping the coin hit a new high of $4,638.

The 30-day price chart of Ethereum (ETH). Source: Tradingview

Over the last 30 days, ETH has gained more than 35% and now trades at $4,604. As the price of Ethereum grows stronger, the demand for an Ethereum Futures ETF grows as well.

According to a new report, U.S. regulators are more likely to approve an Ethereum futures-based ETF before allowing a fund to hold Bitcoin directly. Most market participants agree that a spot Bitcoin ETF would be superior to existing futures ETFs.

Flipsider:

• However, after approving two ETFs, the SEC has postponed its decision to approve Valkyrie’s proposed spot ETF until January 7, 2022

Why You Should Care

The approval of a Bitcoin ETF helped BTC rally to a new ATH, and analysts believe that an Ethereum futures ETF could come as soon as the first quarter of 2022. The future is bullish for ETH.

Metaverse News Bites: Microsoft and Nike to Enter the Metaverse, MANA Spikes 400%

The Metaverse, a fully immersive online realm that pictures the internet’s future iteration, is beginning to gain traction. Following Facebook’s rebranding as Meta, interest in the Metaverse has skyrocketed.

Microsoft has now joined the race to build a Metaverse. Just days after Zuckerberg’s demonstration, Microsoft tested its own corporate metaverse inside Teams. In Microsoft’s metaverse version of the office, users use a 3D avatar to represent them. Microsoft’s metaverse will launch in the first half of 2022.

Joining the race towards achieving a metaverse, multinational sports brand Nike filed seven trademark applications on October 27. Part of the company’s application indicated its intent to make and sell virtual branded sneakers and apparel.

As the metaverse race intensifies, Decentraland (MANA), a decentralized 3D virtual reality platform, has spiked more than 400%. As a result, MANA hit a new all-time high of $4.69.

The 30-day price chart of Decentraland (MANA). Source: Tradingview

Flipsider:

• Unable to maintain the large price jump, MANA has declined by 40% and now trades at $2.8764

Why You Should Care

The growing interest from megacorporations in the metaverse will speed up the building and adoption of the metaverse.

Australia’s Largest Bank to Integrate Crypto Services…