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 from October 16th to 20th.
📈 Weekly BTC and ETH Overview
After false reports claiming the approval of a spot Bitcoin ETF, there was a surge in the price, surpassing several key resistance levels. Nevertheless, this outlier event might not be indicative to what the price will look like in the upcoming weeks as $BTC has still not gone over $30K. Similarly, Ethereum showed bullish behavior, but this scenario will only materialize if demand substantially increases.
BTC is trading at $29.8K when writing, up 5.01% in the last 24 hours. ETH is trading at $1.6K, up 3.9% in the previous 24 hours.
🗞️ Top Market News
- Gensler has stated that the SEC is currently reviewing applications for spot BTC-ETFs and has negotiated with the companies that have submitted those applications. The SEC is going through around eight to nine applications. When asked, the SEC refused to talk about the Grayscale investment saga. Read more here.
- Coinbase has established a European hub in Ireland, taking advantage of the new MiCA regulations. This marks another important milestone in the company’s international expansion. By the end of 2024, Coinbase will be able to serve more European customers, given new MiCA regulations. Read more here.
- SEC drops charges against Ripple CEO Garlinghouse. The SEC dropped allegations that Ripple's CEO and Chairman aided the company in violating securities laws, canceling the upcoming trial. This marks a win for Ripple and brings the SEC closer to appealing the judge's ruling. Read more here.
🚀 New Project Developments
- Scroll has officially introduced the mainnet. Based on information from the block explorer, Scroll's testnet has attracted over 900,000 wallet addresses as active participants and has recorded approximately seven million transactions since August. Read more here.
- Helix, the perpetual decentralized exchange on Injective, announced pre-launch futures. The pre-launch allows users to trade tokens scheduled for official launch or exchange listings. Read more here.
- Binance onboard new partners to restore euro deposits and withdrawals. Due to regulatory challenges in the EU, Binance sought new banking partners after losing PaySafe's support in September. Read more here.
🔍 More Featured Stories
- The Digital Euro project has progressed to the 'Preparation' phase. The process will include completing the digital euro rulebook and choosing potential providers to develop a platform and infrastructure for the digital euro. Read more here.withdrawals
