iGaming Crypto Watch October 2023 – BTC, BCH, XRP, TRX & ETH Hold Yearly Gains!

LTC down 4.58%, while BTC & BCH gain 70% & 151%, respectively, in 2023. Also, CRP, TRX & ETH are in this iGaming Crypto Watch October 2023! (Image from Pierre Borthiry at unsplash.com)

All the coins reported in this monthly review were up in September. However, it was also the biggest month in 2023 for hacks and phishing scams (exploits).

Certik, a well-known blockchain security firm reported several firms have been attacked. It states that a total of USD 329.8m has been stolen. This figure makes September apparently the worst month for crypto hacks (exploits) this year.

The biggest hack was on the Mixin Network, which lost USD 200 million due to a breach by a cloud service provider.

Stake.com and CoinEx also reported losses of USD 41m and USD 53m, respectively. These last two exploits have been identified as the North Korean hacking network called the Lazarus Group. The total loss to exploits in 2023 is USD 1.34b, with July reportedly having the second highest losses of USD 285.8m.

The hacks have occurred across different platforms/protocols, exposing vulnerabilities in each case. The best advice for users is to enhance their security with hardware wallets, two-factor authentication and researching DeFi platforms before making investment decisions. Unfortunately, hacks are ongoing challenge for everyone in the crypto market. And one of the biggest issues is that hackers try to stay one step ahead of investors and exchanges.

iGaming Crypto Watch: See last month’s crypto prices via the iGaming Crypto Watch September 2023 update here.

iGaming Crypto Watch October 2023 Updates

Bitcoin (BTC) – Bitcoin had a rocky start to September but finished the month up 9%. The coin continued with substantial gains and shot up 4.6% since October 1^st. BTC surged past USD 28k after floundering around the USD 26k/$27k level for most of September. Traders are bullish on the coin, but it could retrace below $28K, and the consensus is that BTC will be volatile in the coming days. The rise of BTC has been attributed to insignificant U.S. macroeconomic data and that Congress has averted a government shutdown. Bitcoin is trading at USD 28,243 and may hit July highs of USD 30k if the bullish trend continues.

Bitcoin Cash (BCH) – Bitcoin Cash has been the altcoin market leader in the last month, with an incredible rise of almost 25% since the previous report. Despite negative sentiment on social media, BCH price action has been driven by crypto whales. These large investors have changed the narrative of BCH and resisted the bearish sentiment by escalating trading volumes and purchasing large blocks of BCH. These sizable transactions boost market liquidity, enabling traders to execute trades at reasonable prices. BCH is currently trading at USD 243, and $250 is a viable target price in the coming days.

Litecoin (LTC) – Litecoin has fallen 41% since hitting a yearly high of USD 113 last July but is up almost 5% in the previous month. The altcoin has been stuck around a USD 63 horizontal support level for several weeks but is currently trading at USD 67.65. If it breaks through the USD 63 support level, the coin could see a sharp drop. Traders anticipate a USD 50 support level if the USD 63 barrier is breached.

TRON (TRX) – TRON continues to hit higher highs. The altcoin is at a yearly high, currently trading at USD 0.090. TRX has gained 63% since January and 16% since the last report. Many traders feel there is still more upside in TRX in this bull run with a target of USD 0.10.  TRON is sponsoring a sizeable social media exhibition in Paris later this week, featuring a collaboration between TRX/APENET/Giacometti Foundation to bridge art and blockchain technology. This art showcase will promote how versatile TRX smart contracts are and their ease of use to a broader audience.

Ripple (XRP) – After hitting a year-to-date high in July of USD 0.82 (after a favourable SEC ruling), it has shed 35% of its price. The altcoin is up 4.8% since the last report and is currently trading at USD 0.52. Ripple anticipates more positive news regarding supportive court rulings, but investors seem happy to sit on their hands to await the verdicts. The ongoing SEC lawsuit concerns all coins, but XRP seems confident that future rulings will validate their arguments.

Ethereum (ETH) – The price of Ethereum spiked in late September as news the SEC may approve several ETH futures ETFs next week. Several top investment firms are confident that SEC approval is around the corner and that they will be certified to convert existing ETH (and BTC) futures funds into ETFs. The recent rise of ETH has wiped out 23m USD worth of shorts, indicating a bullish run as investors await the news of ETF approvals. Ethereum is currently trading at 1,727 USD with resistance at 1,783 USD.

Disclaimer: The information on this page is for cryptocurrency casino players that play using Bitcoin or any other virtual coins accepted by their online casino. The idea is to keep our players up to date with monthly fluctuations. This is certainly not a report for those looking to invest in crypto.