Web3 Weekly Recap

Explore the ever-changing world of Cryptocurrencies and Web3

Explore the ever-changing world of Cryptocurrencies and Web3 technology. From price action updates to the most exciting headlines, this week’s edition connects the dots between digital currencies and the transformative technologies influencing our digital future.

Cryptocurrency Prices by Market Cap 

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Bitcoin's $600 Billion Comeback -

Here is What You Need to Know!

Cryptocurrencies, led by Bitcoin, are experiencing a noteworthy surge, surpassing $36,000 and approaching $40,000 for the first time since May 2022. Despite cautionary signals from BlackRock and the U.S. government, the crypto market has gained $600 billion this year, hinting at a possible "watershed moment." An important eight-day period (November 9-17) has opened, during which all 12 U.S. Bitcoin spot ETF filings could gain SEC approval.

Analysts speculate that this may attract a wave of institutional investment, with Wall Street overseeing $17.7 trillion potentially entering the market. Triggered by BlackRock's June ETF filing, major asset managers are in a race, and analysts predict a 90% chance of ETF approvals by January 10, possibly happening earlier. Grayscale's legal victory against the SEC adds optimism, pointing to a potential new era for the crypto landscape. Technical analysis suggests Bitcoin could reach $41,000 to $45,000, marking a substantial market resurgence unseen for over a year.


🌐Read the full article here: Full Article Link

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SEC Faces Cryptocurrency Hiring Nightmare

The SEC's Office of Inspector General revealed the agency's struggle to hire crypto experts due to a unique challenge—candidates unwilling to divest their digital assets, hindering recruitment efforts. The Office of Ethics Counsel prohibits experts holding crypto assets from working on specific matters related to crypto, further limiting the already small pool of qualified candidates.

The SEC, engaged in enforcement actions against major exchanges like Coinbase and Binance, faces stiff competition from the private sector. The report highlights the evolving nature of the crypto landscape as an "emerging area," emphasizing the need for the SEC to continually adapt its expertise and regulations. Read the full report for insights into the SEC's top management challenges and the evolving legal landscape surrounding crypto.

🌐Read the full article here: Full Article Link

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‘Springfield Punks’ NFTs Sell Out in Minutes – Find Out Why Collectors Are Going Crazy!

In a spooky turn of events, 'The Simpsons' recently delved into the world of NFTs and crypto in their Halloween episode, 'Treehouse of Horror.' Bart Simpson even becomes an NFT in the fictional metaverse, Microcosm! Concurrently, Italian artist Rino Russo's 'Springfield Punks' NFT collection, inspired by the show, swiftly sold out, reaching a peak floor price of 0.3 ETH ($600).

The episode mirrors real-world crypto market trends, as NFT trading volumes rise amid Bitcoin's $35,000 valuation and altcoins' impressive performance. Notable gainers include Cryptoadz, Mocaverse, and OnChainMonkey. With the BLUR token surging and a rare CryptoPunk fetching 600 ETH ($1.1M), the NFT market is buzzing.

🌐Read the full article here: Full Article Link

Three Headlines to Know:

  • 🏛️ Stablecoin Issuer Circle Internet Considering 2024 IPO

  • 👛 Binance Launches Self-Custody Crypto Wallet With Exclusive 'Airdrop Zone' for Users

  • 🪙 47 countries pledge to authorize Crypto-Asset Reporting Framework by 2027

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