We compile the top news stories weekly within the crypto, blockchain, metaverse, and NFT space. The weekly wrap-up covers everything from BTC & ETH updates, recent investments, developments of exciting new projects, and other relevant topics.
Here is everything you need to know for the week of October 30th to November 3rd.
📈 Weekly BTC and ETH Overview
Uptober has come into full force toward the closing of the month. With Bitcoin and the rest of the crypto market seeing green in the past month, it is evident that sentiment is rising. Institutional investors are buying more crypto, and MicroStrategy has bought another 155 BTC in the past weeks. Moreover, the FED continues to leave rates unchanged, which has undoubtedly helped pump the price of BTC. As the year slowly ends and the halving approaches, it will be interesting to see if the bull momentum can continue.
At the time of writing, BTC is trading at $34.3K, down 2.66% in the last 24 hours. Similarly, ETH is trading at $1.79K, down 2% in the previous 24 hours.
🗞️ Top Market News
- Sam Bankman-Fried was found guilty on all seven counts by 12 jurors. With nearly 17 presented witnesses, the former CEO faces a maximum sentence of 15 years. Read more here.
- JPMorgan reports that institutional investors fueled Bitcoin’s recent price surge. More Bitcoins are in bigger wallets, so institutional investors are becoming more interested in the cryptocurrency. Read more here.
- MicroStrategy bought more Bitcoin in October. The biggest BTC holder reportedly bought more Bitcoin than the asset gained in value, buying 155 BTC for over $5.3 million. Read more here.
🚀 New Project Developments
- BNB Chain (BNB) introduces its native wallet, BNB Safe. The chain has built a wallet on the Gnosis Safe protocol to increase security. Gnosis is a smart contract known for its high-level security features and robust access control. Read more here.
- MetaMask partners with Blockaid, adding native security alerts to its wallet extension. This makes MetaMask the first web3 wallet to include integrated security alerts. The feature protects users from malicious activity, transactions, and phishing attempts. Read more here.
- Solana goes live on Google Clouds BigQuery data analytics platform. The integration will offer insights into blockchain archival and more precise data analytics. Solana support will go live in Q1 2024, and the first project, Floor, is already testing the new service by sending data on Solana NFT sales and listing to the BigQuery platform. Read more here.
- StepN partners with Steve Aoki to launch a limited edition co-branded Genesis Sneaker. The project will raffle 240 sneakers on Solana, the competition ends November 3rd. Read more here.
🔍 More Featured Stories…
- PayPal Gains Approval from the UK Regulator for Crypto Services. The approval from the Financial Conduct Authority allows the payment company to provide specific cryptocurrency services and promote them to local customers. Read more here.
Related Market Updates
Market Updates: May 13 - May 17
The market is slowly gaining momentum again after the downward trends shortly following the halving. Given the positive spot Bitcoin ETF results of the last week, and movement across multiple projects within the space, Bitcoin broke through the $60K support level, reaching $66K at the end of this week. On the other hand, Ethereum is trading around the $3K level, which is located near the $2.8K support zone.