Investing.com - The cryptocurrency sector is enjoying one of its best times of 2023. Bitcoin is trading above $37,000, up 7.5% so far in November after gaining 28% in October.
Meanwhile, Ethereum is trading above $2,000 at the time of writing, up 12% so far in November, after gaining 8% in October.
In addition to the lower-than-expected US inflation data, which has boosted global stock markets and the crypto sector, there is other interesting news that is good news for the industry, according to Simon Peters, cryptoasset analyst at eToro.
HSBC (LON:HSBA) to offer securities custody via tokens
Leading global financial institution HSBC is set to offer custody of digital assets to institutional clients in conjunction with Swiss partner Metaco. The custody service will launch in 2024 and will be integrated into the bank's digital asset issuance platform, called HSBC Orion.
Revenues from bitcoin mining peak in 2023
Revenues from bitcoin mining have peaked in 2023, according to data from blockchain.com. The increase in revenue comes alongside the significant price rises the market has seen in recent weeks.
Millionaires on bitcoin soar
The number of so-called bitcoin millionaires has soared in 2023 according to data from BitInfoCharts. The number of wallets with more than $1 million in bitcoins has increased by 237% this year, and the cryptocurrency's value is largely driven by institutional market participants, according to the report.
Translated from Spanish using DeepL.
