Booker and Durant Guide Suns to 108-104 Win Over Curry's Warriors in Season Opener
October 24, New York, London, and Singapore -- (Reuters) The price of bitcoin increased by about 10% on Tuesday to $34,872, the highest level in more than a year and a half, as a result of spreading reports that an exchange-traded fund is about to be introduced.
That followed a 10% surge on Monday, which was the best day for bitcoin in over a year. The subsequent euphoria spread to related equities and the broader cryptocurrency market.
If an exchange-traded fund (ETF) that holds bitcoin on behalf of fund investors is approved by the U.S. Securities and Exchange Commission (SEC), demand is predicted to rise.
The idea was that by enabling previously uneasy investors to purchase cryptocurrencies through the stock market, a spot bitcoin ETF would attract new capital to the market.
This year, the price of the volatile asset known as bitcoin has already doubled. It just reached its highest price since May 2022, rising 7.87% to $34,020. It was trading above $35,000 during Asian trading hours. The second-largest cryptocurrency, ether, increased by 4.50% from August to a high of $1,786.30.
The cryptocurrency-related stocks of well-known US exchange Coinbase Global (COIN.O) and bitcoin owner MicroStrategy (MSTR.O) rose by more than 7% and 12%, respectively.
"Excitement has erupted in the crypto market and now it's just a case of waiting to see if and when something concrete emerges from the SEC," stated Antoni Trenchev, co-founder of digital asset business Nexo, in an email.
Investment behemoth BlackRock (BLK.N) is one of the prominent U.S. financial institutions with pending applications for bitcoin exchange-traded funds.
BlackRock's iShares ETF was highlighted on the DTCC clearing house website, which stoked rumours that it might soon be accepted. It was not stated when or why the iShares ETF was added to the DTCC list. Neither BlackRock nor the DTCC quickly responded to requests for comments.
This month, reports, notably those from Reuters, contributed to the optimism that the SEC won't appeal a court ruling that found the agency was wrong to reject an ETF application from bitcoin business Grayscale Investments. On Monday, the court formally declared its ruling and sent the application back to the SEC for more review.
The head of Standard Chartered's digital assets research, Geoffrey Kendrick, asserts that "the SEC being pressured by the courts increases the probability" of an approval for an ETF.SAN FRANCISCO ______ On a night when Golden State supporters were finally able to witness him live after all these years, Kevin Durant greeted many of the individuals he had become so close to throughout his three incredible seasons with the Warriors. He then scarcely displayed his finest shooting performance.
Even so, he marred the home team's debut as the Phoenix Suns emerged victorious in the inaugural meeting between the Pacific Division heavyweights.
Durant remarked, "It was exciting to see people I hadn't seen in a while, some familiar faces. It's always good to be recognised for the work you put in." "I think the support system here has only shown me love and respect for who I am as a player as a person. All I can ask for is that.
Tuesday night, Devin Booker led Phoenix to a 108-104 victory in a back-and-forth game that ended with a layup that gave him the lead with 4:51 remaining. He then made a 3-pointer and finished with 32 points.
On a night the Warriors welcomed KD back for his first game in front of Bay Area fans since he left following the 2019 NBA Finals, Stephen Curry scored 27 points against his former shooting partner Durant's 18 points.
At 8:21 in the third quarter, Curry scored seven points in a row to bring the Warriors within 64-61, prompting Phoenix to seek a timeout. The Suns went 2 for 14 in the third, while Golden State started it with a 27-5 run.
In his last seconds, Jusuf Nurkic, making his Suns debut, scored 14 points, pulled down 14 rebounds, and made a driving layup. With 1:09 remaining, Josh Okogie made a baseline 3-pointer, and with 45 seconds left, Eric Gordon made a long-range shot before Curry made a deep shot.
Booker was doubtful going into the game due to discomfort in his left big toe, but he finished with eight assists, six rebounds, and a start. Eight of the Suns' first 13 points came from him, as he hit his first three jumpers.
For the first time since he guided the Warriors to two titles, two NBA Finals MVP honours, and three consecutive Finals trips from 2017 to 2019, Durant was met with enthusiastic ovation from the crowd.
During pregame introductions, the Warriors showcased video highlights on the big screen. After acknowledging the love with a heart pat and an arm lift, Durant went 7 for 22 and grabbed 10 rebounds.
"The video has a lot of enjoyable moments. We were able to quickly revisit some of those moments," Durant remarked. "However, it was satisfying to arrive here and begin the season with a victory."
When the Suns last visited Chase Centre in March of this year, Durant was hurt. He had previously played there with Brooklyn in February 2021, when the building was closed to fans because of the epidemic.
Against his most recent squad, Chris Paul made his Warriors debut with 14 points, 9 assists, and 6 rebounds. He was traded for Jordan Poole by Golden State on draught night from the Wizards (he never played in Washington).
Paul got three early assists but missed his first six shots and all six of his 3-point attempts.
Guard Moses Moody stated, "He's a rhythm player so he's really good at getting you the ball in spots you want it."
G Suns Due to low back discomfort, Bradley Beal was unable to play in the game, but first-year coach Frank Vogel is hopeful that he will play against the Lakers on Thursday. Vogel stated, "He is trying to loosen up the back and he just isn't ready yet." On the home court of Golden State, Phoenix has dropped 18 of the previous 22 games.
Warriors: Entering their first home game of the season, the Warriors are 44-34 and have only lost five of their previous 12 openers. F. After missing the whole 2020–21 season due to an injured left ankle during the preseason, Draymond Green missed the season opening for the second time in his career due to a painful foot.
PASTOR GOES BACK
Veteran chaplain for the Warriors and 49ers Earl Smith made his way back to the arena after missing the end of the previous campaign due to an accident during All-Star weekend in Utah involving an Uber driver who began to drive while he was only riding on one leg.
Suns: After dropping their past two road games, they will visit the Lakers on Thursday night.
Warriors: Friday night in Sacramento, in a replay of Golden State's victory in Game 7 of the first round of the playoffs.
Details about the cryptocurrency derivatives analysis website Significant short-covering of bitcoin was seen the day before, according to Coinglass.
Reports from Chibuike Oguh in New York, Tom Wilson and Elizabeth Howcroft in London, Tom Westbrook and Rae Wee in Singapore, and Brigid Riley in Tokyo Editing by Shri Navaratnam, Simon Cameron-Moore, Michelle Price, and Cynthia Osterman