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 November 6th to 10th.
📈 Weekly BTC and ETH Overview
The recent price action of Bitcoin reflects an ongoing battle between sellers and buyers near the crucial $35K resistance zone, leading to a period of consolidation with modest volatility. Nonetheless, a positive breakout at this level carries the prospect of a notable uptrend. Similarly, ETH price prediction targets $3K after hitting $2K this week. Regarding on-chain dynamics, the pivotal factor for Ethereum's price rebound on Thursday has been the movement of ETH holders transferring their coins into long-term storage this week. If this trend continues and demand stays robust, the Ethereum price will probably break through the $2K resistance in the upcoming days.
At the time of writing, BTC is trading at $37.14K, up 0.12% in the last 24 hours. Similarly, ETH is trading at $2.09K, up 8.9% in the previous 24 hours.
🗞️ Top Market News
- BlackRock Advisors takes a decisive step by filing for the iShares Ethereum Spot ETF. This development underscores the increasing interest of institutional players in the cryptocurrency space. Read more here.
- Nomura, the Japanese banking giant, introduced an Ethereum fund. The introduction will broaden the array of cryptocurrency investment options available to investors. Read more here.
- UBS breaks new ground with its Crypto Avenue. Allowing affluent clients in Hong Kong to trade crypto ETFs, marking a notable stride toward mainstream adoption. Read more here.
🚀 New Project Developments
- Polygon Labs partners with NEAR Foundation to build a ZK solution. The partnership will allow for better interoperability across chains and maximize developer customizability. Read more here.
- Ingonyama successfully secures $20 million in a Seed funding round, with backing from StarkWare and other investors. Other notable investors include Samsung Next and Walden Catylst. The project will create a programmable parallel computing processor, similar to a GPU, specifically focusing on enhancing zero-knowledge proof. Read more here.
- Polygon Labs (MATIC) initiates a $85 million grant program. The program aims to attract new ecosystem builders and foster further development in the cryptocurrency space. Read more here
- Renowned Japanese gaming magazine Famitsu announces Fusionistio's second beta test on Steam and a raving review. Famitsu Magazine praised Fusionist's gameplay and visual quality in the article, granting it an outstanding expectation rating of 9/10. Read more here.
🔍 More Featured Stories…
- The European Parliament greenlights the Data Act with a provision for a smart contract. The news reflects a forward-looking approach to legislative measures in technology. Read more here.
