The last week of October begins with the crypto market showing small signs. Bitcoin (BTC) is still trading in the $19k range, Ethereum (ETH) struggles at $1,343, while Klaytn (KLAY) jumps to $0.1816.
October, which is normally seen as a bullish month every year failed to push the market this year. Although the prices are better than in May, the gains aren’t enough to recover from the losses.
Based on CoinMarketCap, Bitcoin only gained 0.43% in the last 7 days but the graph is showing green signs. In fact, in the latest news, BTC mining difficulty reaches an all-time high of $36.84T.
Ethereum is struggling to go up despite the successful launch of the proof of stake mechanism on its blockchain. ETH only gained 2.66% last week with a 2.56% increase in the 24h chart.
Klaytn is one of the highest-gaining cryptocurrencies in the last 24 hours. It is an open-source public blockchain network that gained attention after the new governance proposal.
According to the report, Klaytn wants to reduce KLAY emissions by focusing on the circulation of coins and their demand. This is expected to attract more investors to buy the $KLAY token.
The Klaytn community seems to be quite bullish about the new proposal and its coin saw an increase in demand in the market. KLAY has gained 24.20% in the 24-hour chart and is rising rapidly.
Other than that, Elon Musk-backed Dogecoin (DOGE) also saw a sudden rise in its prices. It gained 0.68% in the 7d chart and trades at $0.05951 at the time of writing.
The current market shows there is hope for November to be bullish to some extent. However, many experts believe the prices won’t rise until next year.