Open interest in XRP grew to over $1 million in Bitcoin mining profitability continues to fall.

This is CoinDust Daly. I'm your host Christine Lee.

OKX and finance data show that retail investors are lagging behind institutions

in ramping up Bitcoin purchases at the start of October, a month that's historically been bullish for BTC.

Some observers say this behavior typically precedes retail traders entering en masse, providing exit liquidity when Bitcoin prices approach new highs.

Meanwhile, Bitcoin mining profitability fell for a third straight month

in September, according to a JPMorgan report, with daily block reward gross profit dropping

to the lowest on recent record. Nevertheless, the hash rate, which is the total computational power

used to mine Bitcoin, rose for the third month in a row by 2%.

Clients of the FTX.com offshore exchange, the so-called dot-com creditors, have shown support

for a plan to reorganize the bankrupt crypto exchange. According to a vote from restructuring

agent crawl, over 94% of FTX.com customers voted in favor of the reorganization.

The plan promises to return 118% of claims and cash to most creditors who represent almost $7 billion in claims by value.

Creditor approval secured the next step is for the Bankruptcy Court to confirm the reorganization plan.

A hearing is set for October 7th.

Open interest in XRP tokens have surged in the past few days amid the hype around RLUSD, a stable coin being developed by Ripple Labs.

Betts on XRP futures grew to over $1 billion over the weekend,

a level last seen in March and June of last year. Coinglass data shows that crypto exchanges

Binance and by bit account for almost half of the placed bets. Spot training volumes also

more than doubled in the past week to as high as $2.5 billion on Sunday, according to Coin Gecko.

As of the U.S. morning training hours, XRP is above 60 cents, gaining around 4% on the week.

That's it for Coiness Daily. Get more updates on CoinDest.com, and we'll see you next time.

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