Bitcoin Climbs as OKX Files for Tokenized Stock Platform and Saylor Hints at New Buys
Bitcoin continued its upward trajectory, reaching $86,436.31, a 3.4% increase over the past week. The broader crypto market saw a 0.8% rise in market cap, hitting $3.01 trillion. Ethereum, BNB, XRP, and Solana also posted gains, with BNB leading at a 2.2% daily increase. Among trending searches, Artificial Superintelligence Alliance surged 15.5%, while BabyCashCat and Hood Inu were top gainers.
OKX filed an application with the SEC to launch a tokenized US stock trading platform, a move that could position it as a pioneer in this space. The platform, a joint venture with Intercontinental Exchange (ICE), aims to list tokenized versions of 63 NYSE-listed companies. This follows ICE's investment in OKX earlier this year at a $25 billion valuation.
Michael Saylor hinted at new Bitcoin purchases, with Strategy's holdings now surpassing 847,666 BTC, valued at $72.29 billion. Saylor emphasized the growing role of digital assets in AI transactions and urged US policymakers to support digital capital formation. Meanwhile, Glassnode identified key Bitcoin liquidation clusters near $90,000, $83,000, and $75,000.
Bitcoin spot ETFs saw $241 million in net inflows last week, with BlackRock's IBIT leading the charge. Ethereum spot ETFs, however, recorded $138 million in outflows. Fed rate expectations shifted, with a 77.9% chance of rates remaining steady through October. Additionally, dormant Bitcoin wallets holding millions in BTC activated after over a decade of inactivity.