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 December 18th to 22nd.
📈 Weekly BTC and ETH Overview
Bitcoin reached a roadblock at $45K, and it's currently hanging around that price. There's a kind of balancing act between $45K (where it struggles) and $40K (where it's got some backup). The price might stay like this for a bit, but there could be a step back towards $40K because of a mismatch between the price and the Relative Strength Index (RSI).On the other hand, Ethereum is trailing Bitcoin, and the overall market lacks momentum. It's now at $2.1K, down 2% this week. Despite being a slow altcoin to rally, the stagnant price is concerning. There's strong resistance between $2.4K and $2.5K. In case of a bearish trend, ETH has support at $2K if $2.15K doesn't hold.
At the time of writing, BTC is trading at $43.7K, without movement at 0% in the last 24 hours. Similarly, ETH is trading at $2.28K, without movement at 3.50% in the previous 24 hours.
🗞️ Top Market News
- The S&P 500 Index has surged to $4750, achieving a record peak for 2023. On Tuesday, the S&P 500, Dow Jones, and Nasdaq each rose by around 0.6%, setting new records for the Dow and the highest closes for the S&P and Nasdaq since January 2022. The index has surged 16% since late October, driven by positive sentiments about interest rates and further boosted by the Fed's announcement of an expected 75 basis points rate cut next year. Read more here.
- Coinbase shares experienced a growth of over 400% throughout 2023. Coinbase, the primary U.S. platform for cryptocurrency trading, has experienced an astonishing increase in its stock performance, exceeding 400% in 2023. On December 19, the COIN stock reached $162, hitting a 20-month peak and reinforcing its status as the standout crypto investment of the year. Read more here.
🚀 New Project Developments
- Fusionist [ACE] has gained Binance, OKX, and other exchange listings. Blockchain game Fusionist (ACE) has surged over 30% in the last 24 hours after being listed on Binance. Analysts are optimistic about the token's potential due to the game's impressive visuals powered by the Unity engine. Read more here.
- AIT Protocol [AIT] has initiated the NFT Raffle Event. The raffle aims to provide unique digital assets and introduces participants to the intersection of AI and NFTs. Read more here.
- Moove Protocol successfully concluded its Seed funding round, with Morningstar Ventures leading the investment.MOOVE Protocol, a social initiative by Two3 Labs and CowCow fostering a community through community-oriented tokens, has secured its seed round led by Morningstar Ventures. Other investors include ZBS Capital, Let’s Go Capital, NXGen, Alpha Protocol Ventures, and notable angels, including Vijay Pravin. Read more here.
- bitsCrunch [BCUT] has revealed a strategic partnership with Ethernity [ERN]. This partnership aims to revolutionize NFT-Fi through advanced IP protection and blockchain analytics, shaping the future of safeguarding valuable IP in the NFT ecosystem. Read more here
🔍 More Featured Stories…
- Coinbase achieved significant progress in Europe by acquiring a crucial French registration, enabling an expansion of crypto services. The authorization marks a "significant milestone" in the exchange's efforts to broaden its services across Europe. With the VASP license, Coinbase can now provide digital asset custody and trading services to retail and institutional customers. Read more here.
- Despite the ban on cryptocurrency trading, China pledges to accelerate the development of NFTs and decentralized applications. China is pushing to develop non-fungible tokens (NFTs) and decentralized applications (DApps), reaffirming its commitment to blockchain technology despite the cryptocurrency ban. The Ministry of Industry and Information Technology plans to create strategy documents for the future of Web3. Read more here.