🪙 BTC was less volatile than the stock market in September

🪙 BTC was less volatile than the stock market in September 💸 Cardano's TVL is down 77% from ATH but the community remains bullish 💳 FTX announces partnership with visa to offer debit cards

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Here's what we've got today:

🪙 BTC was less volatile than the stock market in September

💸 Cardano's TVL is down 77% from ATH but the community remains bullish

💳 FTX announces partnership with visa to offer debit cards

BTC was less volatile than the stock market in September

We all know crypto has been considered volatile, with prices see-sawing up and down at the drop of a hat. But is this actually true? Well, recent data would suggest not. In fact, Bitcoin turned out to be less volatile than the stock market in September, with the Dow Jones index being more volatile than BTC.

The Dow Jones index tracks the 30 largest industrial stocks, which means it's a pretty good indicator of the stock market as a whole. So for Bitcoin to be less volatile than this is quite an achievement. The data comes from ZeroHedge, who looked at the volatility of both BTC and the Dow Jones over the last month.

So what does this all mean? Well, it could suggest that crypto is maturing as an asset class and becoming less influenced by macroeconomic factors. In the long run, that could also mean that BTC or crypto in general can become a more stable investment. Either way, even as a fun fact, it's pretty impressive that crypto was less volatile than the stock market last month.

Cardano's TVL is down 77% from ATH but the community remains bullish

As the Cardano (ADA) network continues to grow at an impressive rate, it is clear that the blockchain is committed to becoming a major player in the DeFi space. With the recent hard fork successfully completed, the platform is now poised to scale even further, adding even more smart contracts and increasing its overall functionality.

Cardano has been on a tear, adding around 50 smart contracts per week. This growth is quite remarkable, especially considering that the platform only recently upgraded. The hard fork, known as Vasil, was designed to improve the network scalability and it seems to be doing just that.

Despite the upgrade, however, the platform’s TVL has been on a steady decline, falling below $80 million for the first time since January. This is likely due to the fact that many users are still waiting to see how the hard fork will affect the network before committing their ADA to staking.

The Cardano community remains confident in the platform’s future, hoping that ADA will be trading at least at $0.58 by the end of October. This would represent a 36% increase from its current price, which might seem like a tall order but is well within Cardano’s capabilities. So, although the network may have hit a snag with the Vasil hard fork, it is good to see the developers working hard to improve the platform and add new features.

FTX announces partnership with visa to offer debit cards

Sam Bankman-Fried’s FTX exchange has announced a partnership with Visa to offer debit cards in 40 countries. This would allow FTX users to pay for goods using crypto debit cards. There seem to be some benefits to using these cards, such as absence of fees and free card ownership. This means that FTX's influence in the crypto world is growing (again), and it is becoming more accepted by traditional financial institutions.

However, some people are skeptical of this move. They argue that it goes against the original vision of crypto as a decentralized currency that is decoupled from traditional financial institutions. They also argue that this could lead to more government regulation of crypto, which could be detrimental to the industry.

SBF has been talking about his desire to offer an FTX debit card for a while now. His company’s decision to partner with a legacy payment provider, rather than a crypto payment provider makes sense as he doesn’t believe that BTC is viable as a payments network. The FTX token spiked 7% on the news, reaching $25.62. However, the all-time high for the token is still a long way off at $80.

Visa is a large and well-established company, so it is likely that this partnership will be beneficial for FTX in the long run. Is that partnership going to affect cryptocurrency's decentralization? Only time will tell.