Last week’s crypto market prices rose by +5.60%. Volume and volatility decreased by -4.30% and -19.72%, respectively.
Chart of the Week
Bitcoin has broken past US$40K for the first time in 19 months. Meanwhile, after briefly testing US$2K back in April, Ether has now managed to top US$2.2K. Spot ETF developments continue to make headlines. Additionally, BTC’s move higher comes as gold futures also surge to a record high of US$2,151, after US Federal Reserve Chairman Jerome Powell said interest rates are now ‘well into restrictive territory’.
Weekly Performance
Bitcoin (BTC) and Ethereum (ETH) rose by +8.4% and +7.1%,respectively, in the past seven days. Price action for other selected top-cap tokens was also mostly positive.
Selected key categories were all up in terms of market cap change in the past seven days, led by Artificial Intelligence.
News Highlights
Franklin Templeton has filed an updated prospectus with the US Securities and Exchange Commission (SEC) for their Bitcoin spot exchange-traded fund (ETF) application.
Microstrategy, one of the largest corporate holders of BTC, boosted its holdings in November, buying some 16,130 BTC. The company bought the BTC at an average price of about US$36,785 apiece.
Standard Chartered Bank will join trials of China’s digital yuan central bank digital currency (CBDC), the e-CNY, one of the first foreign banks to do so in the country.
The Bank for International Settlements (BIS) Innovation Hub has presented the final report on its private central bank digital currency (CBDC) initiative, Project Tourbillon. The report explores the concepts of privacy, security, and scalability using prototypes based on the eCash design by cryptography pioneer David Chaum.
Research Roundup Newsletter [October 2023]: We present to you our latest issue of Research Roundup, featuring trending market insights in October, charts of the month, and our insights on friend.tech and SocialFi trends.
Friend.Tech: Explore what friend.tech is, its success factors and criticisms, and some of the competing platforms that have emerged.
Bitcoin Spot vs Futures ETFs Explained: Learn the difference between BTC spot vs futures ETFs — and why the Bitcoin spot ETFs haven’t yet been approved by the SEC.
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BTC tops US$40,000 for the first time in 19 months. Microstrategy bought more BTC in November. Standard Chartered Bank to join trials for China’s CBDC.
