- 1. Bitcoin surges to $75,786 (+1.9%), driving US crypto adoption (CoinGecko).
- 2. Fear & Greed Index at 33 signals caution; BlackRock ETF hits $28B AUM.
- 3. Bangladeshi expats use Lightning Network for <1% remittance fees despite bans.
Bitcoin surges to $75,786, up 1.9% on October 10, 2024 (CoinGecko). PYMNTS.com reports Bitcoin dominance at 56%. Alternative.me's Fear & Greed Index hits 33, signaling caution. Ethereum rises 1.6% to $2,311.77.
Bangladesh Bank upholds its 2017 crypto ban. Over 500,000 Bangladeshi expats in the US (US Census Bureau, 2023) send $22.1 billion annually (Bangladesh Bank, FY2023). Blockchain remittances cut fees below 1%, beating Western Union's 5-7% (World Bank Remittance Prices Worldwide, Q3 2024).
Bitcoin Fuels US Crypto Adoption Surge
Traders track Bitcoin at $75,786 after 1.9% gains. Ethereum follows at $2,311.77 (+1.6%). BNB rises 1.8% to $630.90. XRP gains 2.0% to $1.43. USDT holds at $1.00.
CoinGecko provides real-time prices. Alternative.me's Fear & Greed Index at 33 shows neutral fear amid volatility.
- Cryptocurrency: BTC · Price (USD): 75,786 · 24h Change: +1.9% · Market Cap (USD): 1.49T
- Cryptocurrency: ETH · Price (USD): 2,311.77 · 24h Change: +1.6% · Market Cap (USD): 278B
- Cryptocurrency: USDT · Price (USD): 1.00 · 24h Change: 0.0% · Market Cap (USD): 119B
- Cryptocurrency: XRP · Price (USD): 1.43 · 24h Change: +2.0% · Market Cap (USD): 84B
- Cryptocurrency: BNB · Price (USD): 630.90 · 24h Change: +1.8% · Market Cap (USD): 92B
Bitcoin's network draws institutional inflows. Chainalysis' 2024 Global Crypto Adoption Index ranks the US first among large economies.
Institutions Drive US Crypto Momentum
Coinbase logs 15% volume increase last week (Coinbase Q3 2024 earnings). Kraken reports similar growth. BlackRock's IBIT Bitcoin ETF holds $28 billion AUM after 2024 approvals (ETF.com, October 10, 2024). Retail investors return amid Federal Reserve rate cuts on September 18, 2024.
Ethereum's DeFi ecosystem locks $60 billion in value (DefiLlama, October 10). PYMNTS.com confirms Bitcoin leads adoption. High US liquidity supports Bangladeshi expats sending funds home.
Bangladesh Bank Ban Sparks Crypto Remittance Tools
US expats buy Bitcoin via Binance P2P. Recipients convert to BDT through local P2P, linking to bKash's 70 million users (Bangladesh Bank, 2024). Nagad's 50 million accounts speed conversions.
Lightning Network settles transfers in minutes for cents (1ML.com reports capacity over 5,400 BTC, October 10, 2024). Volatility risks exist, but blockchain beats bank delays of 2-5 days. Jessore farming families fund irrigation and seeds with these flows.
bKash handles 45% of adult transactions (Bangladesh Bureau of Statistics, BBS, 2023). Crypto unlocks diaspora funds for Jessore's agriculture tech, including drone monitoring.
Expats Use Bitcoin to Slash Remittance Costs
Expats in New York and California use MetaMask wallets daily. USDT at $1.00 stabilizes transfers. Solana pilots Web3 remittances for Jessore startups.
Crypto speeds funds to Khulna garment factories and Jessore IT freelancing hubs. Bangladeshi developers build Chainlink oracles for USD-BDT rates (Chainlink data feeds). Bitcoin's $75,786 recovery stabilizes channels.
Remittances contribute 6% to Bangladesh's GDP (World Bank, 2024). Pathao and Chaldal integrate digital wallets, exploring blockchain for e-commerce payouts.
Lightning Network Revolutionizes Bitcoin Flows
Lightning Network drops fees to 0.1% and speeds confirmations to seconds. Expats pair it with Nagad for instant BDT. XRP at $1.43 boosts speed via RippleNet.
Bangladesh's IT/ITES exports hit $1.4 billion yearly (Bangladesh Investment Development Authority, BIDA, FY2024). Faster capital aids growth. As Bitcoin adoption rises, expats eye $80,000 levels for remittance stability. JessoreNews24 monitors diaspora-tech links.
Frequently Asked Questions
What drives current US crypto adoption with Bitcoin?
Bitcoin leads at $75,786 (+1.9%, CoinGecko, Oct 10). PYMNTS.com notes dominance. Fear & Greed Index at 33 tempers enthusiasm.
How do Bangladeshi expats leverage US crypto for remittances?
Expats use Bitcoin Lightning for <1% fees (1ML.com). P2P links to bKash/Nagad despite bans. USDT hedges volatility.
What does Fear & Greed Index at 33 mean for US crypto adoption?
Value of 33 shows fear amid Bitcoin's $75,786 rise (Alternative.me). Ethereum at $2,311.77 (+1.6%). Fed cuts eyed.
How does Bitcoin enable efficient remittances for expats?
Lightning Network cuts costs/speeds transfers vs. 5-7% banks (World Bank). Jessore agriculture gains from fast flows.
