Top stories this week
- German Commerzbank Approved for Crypto Custody Services
Germany’s fourth-largest bank, Commerzbank, has secured a crypto custody license from the German regulatory authorities. It’s the first full-service bank to receive such license in Germany. - Crypto.com Secures Dubai License
Crypto.com obtained a key virtual asset license in Dubai, strengthening its operations in the region. - Binance To Cease Russian Ruble Deposits
Binance, a leading cryptocurrency exchange, announced it will stop accepting deposits in Russian Rubles by November 15, 2023 as part of its exit strategy from Russia. - CME Surpasses Binance in Bitcoin Futures Open Interest
The Chicago Mercantile Exchange (CME) has overtaken Binance to become the leading Bitcoin futures exchange, indicating a rising appetite for Bitcoin among institutional investors. - BlackRock’s Misleading XRP ETF Filing
XRP experienced a price spike followed by a sudden fall after a fake filing indicated a BlackRock XRP Trust. This incident is under investigation by the Delaware Department of Justice. - BlackRock’s Ethereum ETF Filing Boosts ETH/BTC Ratio
The ETH/BTC ratio increased after BlackRock submitted a filing for an Ethereum ETF, causing a substantial hike in Ethereum’s price. - JPMorgan Launches Programmable Payments with JPM Coin
JPMorgan has begun using its blockchain platform JPM Coin for live programmable payments, with Siemens and FedEx among its early adopters. - Cboe to Launch Margined Bitcoin and Ether futures
Cboe Digital is set to launch margined futures for Bitcoin and Ether, aiming to bolster liquidity of these cryptocurrencies. - Hex Trust Secures Full Crypto Operating License in Dubai
Crypto custodian Hex Trust obtained a full crypto operating license in Dubai, positioning themselves to provide institutional services in the region.
Hottest coins of the week
The featured cryptocurrencies list was generated through our sophisticated AI-driven analysis that meticulously evaluated the market sentiment surrounding tokens within the 500 most prominent articles over the past week, in conjunction with a thorough AI-examination of their price trends.
- dYdX (ETHDYDX)
dYdX (ETHDYDX) experienced impressive price movement with a +9.18% increase in the last 24 hours and a whopping +56.34% rise this week, driven mainly by multiple significant developments. The launch of the dYdX Chain, a major milestone marking the transition from Ethereum to its autonomous native blockchain, and the introduction of its Layer 1 token have contributed to the token’s increased value. Additional factors include the release of the dYdX V4, a fully decentralized trading platform, and an anticipated influx of DYDX tokens into circulation. Enhanced protocol functionality, upgraded network security, and increased community engagement are also drawing in more investors, supporting a bullish run for the asset.
Read more on: dailyhodl.com, cointelegraph.com - Sei (SEI)
Sei (SEI) coin is experiencing a remarkable surge with a gain of +18.23% in the last 24 hours, and +40.58% this week due to a combination of various factors. Circle, the issuer of USD Coin (USDC), has strategically invested in Sei, expanding the use of USDC and creating growth opportunities for Sei in DeFi. Furthermore, Sei Network continues to strengthen its position in the market as it adds USDC for promising DeFi growth, indicating a major advancement in the blockchain industry.
Read more on: blog.sei.io - Memecoin (MEME)
Memecoin (MEME) continues making headlines with extraordinary price hikes, climbing by around 1.88% in the last 24 hours and an impressive 77.43% this week. Increased interest was ignited by Memecoin’s significant airdrop campaign and the coin’s listing on several cryptocurrency exchanges, including Binance, attracting more investors and enhancing price stability. The surge shows renewed faith in Memecoin’s potential, despite it undergoing a price correction recently after peaking at $0.0293. Memecoin’s performance is indicative of the revived meme coin market trend, with traders keeping a close eye on the token.
Read more on: benzinga.com - yearn.finance (YFI)
The price of Yearn.finance (YFI) skyrocketed due to a surge in whale activities that boosted the market cap by 60% in a week, recording a price increase of 18.55% in the last 24 hours and 69.64% this week. The coin’s performance is also linked to its pivotal role in the DeFi sector where it’s emerging as a significant player, offering decentralized financial services, hence eliminating the need for intermediaries like banks. Furthermore, market trends indicate that YFI is a valuable investment for the future with potential price increases.
Read more on: www.cryptopolitan.com, thecryptobasic.com - Celestia (TIA)
Celestia (TIA) has seen a considerable upward climb in its price, witnessing a significant +2.51% increment in the last 24 hours and a whopping +136.84% surge this week. This surge is primarily attributed to the increasing demand for the coin which is reflected in the soaring futures open interest and a substantial reduction in short liquidations. The robust performance of Celestia comes amidst a favorable outlook for the broader cryptocurrency market. As a result, investors are increasingly optimistic about the future prospects of Celestia impacting its price positively.
Read more on: coindesk.com
- THORChain (RUNE)
THORChain (RUNE) has been experiencing significant price growth, soaring by 19.90% over the past day and a staggering 54.83% this week. The coin has caught investors’ attention with its rising trading volumes and its spot as the third-largest decentralized exchange. Multiple factors have fueled this price surge, such as bullish market sentiment, prediction of reaching high price points in the future, and its unique value proposition among decentralized exchanges. This upward trend demonstrates THORChain’s potential for further growth, despite some analysts cautioning that the coin might be overbought.
Read more on: coinpedia.org, u.today
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