Cryptocurrency investment products have seen their total assets under management (AUM) increase by 45.5% to $74.7bn in October, surpassing the previous all-time high of $58.7 billion in March of this year.

The price of the second-largest cryptocurrency by market capitalization has hit a new all-time high of $4,400.64 as it continues to recover from its drop below the $2,000 mark in July of this year.

The Financial Action Task Force has released revised cryptocurrency guidance containing clarifications on who falls under its recommended requirements. The global anti-money laundering watchdog acknowledged that services should be analyzed based on what they provide rather than whether they fit into the nomenclatures it provided.

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Top stories in the Crypto Roundup today:

• Crypto Investment Products’ AUM Hits New All-Time High
• Ethereum Hits New All-Time High After New Upgrade
• Financial Action Task Force Releases Crypto Guidance
• Crypto Market Movers – SHIB, CRV, MANA
• Sponsored: Check Out The Newest Liquidity Mining Pool on Curve Finance

Crypto Investment Products’ AUM Hits New All-Time High

Cryptocurrency investment products have seen their total assets under management (AUM) increase by 45.5% to get near the $75 billion mark in October, surpassing the previous all-time high of $58.7 billion in March of this year.

CryptoCompare’s latest Digital Asset Management Review, shows rising cryptocurrency prices and weekly inflows led to the surge in assets under management, with the assets on bitcoin-based investment products growing 52.2% to $55.2 billion, another all-time high.

Similarly, Ethereum-based products saw their assets under management reach an all-time high of $15.9 billion in October after rising 30%.

Investment products focusing on other cryptoassets and baskets saw their assets under management rise by 26.5% to $3.6 billion. Aggregate daily trading volumes for these assets increased by an average of 43.4% from September to October to now stand at $826 million.

Ethereum Hits New All-Time High After New Upgrade

The price of the second-largest cryptocurrency by market capitalization has hit a new all-time high of $4,400.64 as it keeps on recovering from its drop below the $2,000 mark in July of this year.

Ethereum’s price may have hit a new high following the Altair Beacon Chain update that was successfully launched on the network after 98.7% of nodes upgraded to it. The Altair upgrade to the Beacon Chain marks another step taken toward the network’s transition to a Proof-of-Stake (PoS) consensus algorithm.

The cryptocurrency’s price has also been rising thanks to the boom in decentralized finance and non-fungible tokens on top of its network, as demand for these products leads to higher demand for ETH transactions, paid for in ether.

The daily issuance of Ethereum has, on a few occasions, gone negative thanks to the network’s EIP-1559 upgrade. The upgrade changed Ethereum's monetary policy by burning part of the transaction fees in every new block that previously belonged to Ethereum miners in an effort to alleviate the fees for network users.

Financial Action Task Force Releases Crypto Guidance

The Financial Action Task Force has released revised cryptocurrency guidance containing clarifications on who falls under its recommended requirements. The global anti-money laundering watchdog acknowledged that services should be analyzed based on what they provide rather than whether they fit into the nomenclatures it provided.

The FATF’s guidance reads:

“The obligations in the FATF Standards stem from the underlying financial services offered without regard to an entity's operational model, technological tools, ledger design, or any other operating feature.”

The new guidance clarifies what constitutes a virtual asset, or VA, noting it isn’t just a digital representation of value, as VAs also have a tradable or exchangeable component. Non-fungible tokens (NFTs), as such, do not appear to constitute VAs.

The FATF also said decentralized applications are not virtual asset service providers, since the standards applied on these entities do not apply to the underlying software. The operators of DeFi protocols, on the other hand, likely are considered virtual asset service providers.

Crypto Market Movers – SHIB, CRV, MANA

Several tokens are leading the charge in the last 7-day period. Some of these are well-known cryptocurrencies with more liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

Shiba Inu (SHIB) - SHIB is an experiment in decentralized spontaneous community building. SHIB token is the project’s first token and allows users to hold Billions or even Trillions of them.

Curve (CRV) - Curve is an exchange liquidity pool on multiple blockchains designed for (1) extremely efficient stablecoin trading (2) low risk, supplemental fee income for liquidity providers, without an opportunity cost.

Decentraland (MANA) - Decentraland is a virtual reality platform powered by the Ethereum blockchain. Users can create, experience, and monetize content and applications. Land in Decentraland is permanently owned by the community, giving them full control over their creations.

Bybit’s DeFi Mining - Check Out The Newest Liquidity Mining Pool on Curve Finance

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