JPMorgan Exploring Cryptocurrency Custody Services – October 28

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $13,690

Bitcoin price has taken another run to the upside over the last day of trading, at price now hovers around the $13,700 mark.

Top-20 altcoins look stable as Ethereum, XRP, Bitcoin Cash, and Chainlink each gain about 1% for the day. Polkadot has finally cooled off from its bullish run, falling 5%.

Top Stories for October 28, 2020 πŸ”₯

πŸ‘‰ JPMorgan Exploring Cryptocurrency Custody Services

JPMorgan has reportedly been consulting with cryptocurrency firms in an effort to explore how it can offer cryptocurrency custody services.

The Block reports that the company is looking to use “sub-custodians” for the service and has contacted both Fidelity Digital Assets and Paxos regarding the matter.

πŸ‘‰ BlockFi Now Holds Over 5% of Grayscale GBTC Shares

Centralized cryptocurrency lending firm BlockFi is reportedly now one of the largest holders of Grayscale’s GBTC shares, a $4.8 billion trust which invests in Bitcoin.

Only one other entity, Three Arrows Capital, has a share in GBTC as large as BlockFi, with a 6.26% holding as reported in June of this year.

πŸ‘‰ Ethereum Miner Profitability Still Higher Than BTC, Despite BTC Fee Jump

Mining profitability remains higher for Ethereum, despite Bitcoin transaction fees almost tripling over the last few days.

The average transaction fee for Bitcoin has jumped to over $10, with 22% of mining revenue now consisting of fees.