After reaching a local top above the $99,000 mark last week, Bitcoin has seen an adjustment around the $90,000 region on November 26.
Since then, the price has started to recover, with investors hoping the leading asset will surpass the $100,000 mark in the near future.
Investors are starting to view Bitcoin as less risky due to its hawkish monetary policy and censorship resistance, increasing the likelihood of it reaching $100,000 before the end of the year. As some major economies around the world face growth challenges, investors may turn to scarce assets like Bitcoin to preserve value.
BTC is currently trading around the $96,000 region.
Let's review the top news stories of the week from November 25 to December 1, 2024 with Bitcoin Magazine.
MicroStrategy has just announced its latest Bitcoin purchase of 55,500 BTC, worth around $5.4 billion, at an average price of $97,862 per coin, added to its investment portfolio. This announcement came right after the company completed a convertible bond offering last Friday.
With the latest transaction, MicroStrategy has added over 130,000 Bit coins to its investment portfolio this month, marking the company's largest deal to date. Currently, MicroStrategy's total Bit coin holdings have increased to 386,700 BTC, worth around $38 billion at the current market price.
MicroStrategy buys an additional 55,500 Bit coins for $5.4 billion
Ripple is on track to launch its managed stablecoin, RLUSD, with approval expected soon from the New York Department of Financial Services (NYDFS).
According to a report from FOX Business, the company plans to launch it on December 4. This will be a significant step in Ripple's expansion into the tightly regulated digital finance space in New York.
Ripple's entry into the stablecoin market will put the company in direct competition with major US issuers like Circle, Paxos, and Gemini.
If approved, Ripple will be able to offer RLUSD as a stable and managed digital currency, providing a reliable alternative to XRP. This could attract customers looking to avoid the volatility and legal challenges associated with other cryptocurrencies.
New York to approve Ripple's stablecoin on December 4
Solana price recovers after a strong dump, will SOL reach $300?
BNB price is only 10% away from a new ATH: Here's what could happen next
These figures suggest Ripple (XRP) price could reach a 6-year high
Algorand (ALGO) price rises as open interest hits a record $81 million
Ether open interest hits an All-Time-High – Has the ETH price rally begun?
Worldcoin (WLD) breakout from a descending channel, bulls target $4
Blockchain payment company Ripple has announced the launch of the first tokenized money market fund on the XRP Ledger, including the $4.77 billion (around £3.8 billion) US Dollar Liquidity Fund managed by asset manager abrdn.
This was made possible through a strategic partnership between Ripple and Archax, the first UK-regulated crypto exchange, broker, and custodian. This collaboration provides access to abrdn's money market fund, a significant step in integrating traditional finance with blockchain technology.
Ripple launches the first tokenized money market fund on the XRP Ledger
XRP Ledger releases a new update after a node disconnection incident destabilized the network
Uniswap announces the largest bug bounty program in history ahead of the v4 launch
Starknet launches phase 1 staking on Ethereum Layer 2
Movement announces the launch of the MOVE token at an Ethereum token creation event
Sui is set to launch a Bitcoin staking service
Dogecoin Foundation reveals its plans for 2025
Pump.fun suspends its livestream feature indefinitely
Avalanche9000 launches on testnet, unlocking a $40 million reward pool
TON launches a Bitcoin (BTCFi) liquidity pool on Telegram with a cross-chain bridge
Hyperliquid airdrop 1.2 billion USD token, HYPE reaches FDV of 4.5 billion USD
Binance will officially launch BFUSD on November 27, a "margin asset with rewards" that allows users to earn passive rewards by holding or trading this asset on the futures market.
"BFUSD is designed as a margin asset for futures trading while also providing passive rewards," a Binance spokesperson said.
"BFUSD holders will earn a basic APY - annual percentage yield - that accrues daily even if they don't trade futures, and those with eligible USDⓈ-Margined Futures activity will earn a higher APY for that day."
Binance will officially launch BFUSD on November 27, promising an APY 'will never be below 0'
Leading crypto exchange Coinbase announced today that they will not support the upcoming migration of Celo from Layer 1 to Layer 2 in the Optimism Superchain ecosystem, sparking strong criticism from the Celo community.
"The Celo blockchain L1 will migrate to Celo L2 on January 16, 2025," the exchange posted on X. "Coinbase will not support this migration. Due to the hard fork, customers must withdraw CGLD from Coinbase before January 13, 2025 to avoid assets being locked and inaccessible."
Coinbase's decision not to support the Celo Layer 2 upgrade causes a stir in the community
Crypto product company 21Shares has just launched a new suite of exchange-traded products (ETPs) focused on four leading digital assets.
In a series of new posts on the X platform, the world's largest ETP provider announced the launch of ETPs for ONDO, PYTH, RENDER and NEAR.
"Big News: Four breakthrough ETPs just launched! We're proud to introduce our newest products focused on oracles, tokenization, decentralized computing, and artificial intelligence."
According to the product descriptions from 21Shares, each ETP is 100% physically backed by the respective tokens.
21Shares launches four new crypto ETPs for ONDO, PYTH, RENDER and NEAR
Valour launches the world's first DOGE ETP
VanEck extends free waiver for Bitcoin ETF fund up to $2.5 billion or until 2026
WisdomTree files for XRP ETF in the U.S. state of Delaware
Tether, the stablecoin giant, is once again causing a stir by carrying out a massive issuance, pumping over $5 billion into the market within just 72 hours.
This explosive growth not only caught the attention of the crypto community but also raised concerns in the financial world, especially given Tether's crucial role in providing liquidity to the market.
One of the central figures in this event is Howard Lutnick, the CEO of financial services conglomerate Cantor Fitzgerald and a influential figure in Donald Trump's power transition team.
Tether's issuance of $5 billion USDT and its political connections raise suspicions
Coinbase suspends USDC Earn program in Europe due to MiCA regulations
Stablecoins reach a record market capitalization of $190 billion as USDT, USDC grow over 10%
Non-USD stablecoins could drive adoption
Peanut the squirrel's owner launches his own token, threatens to sue the crypto community
Elon Musk says xAI is about to set up a dedicated AI gaming studio
OpenAI secures $1.5 billion funding from SoftBank, allowing employees to cash out stock
Investor just borrowed $2.75 million from this one-of-a-kind CryptoPunk NFT
Kraken shuts down its NFT marketplace just over a year after launch
Does the Metaverse space still exist?
According to Scam Sniffer, a web3 anti-fraud company, the latest scam incident in the Solana ecosystem appeared in the form of seemingly legitimate signature requests.
The issue stems from Solana's fast transaction speed, leading to a discrepancy between the simulated wallet state and the actual state. This creates an opportunity for scammers to conceal their malicious actions and silently steal funds from users' wallets.
This form of attack appears in the form of phishing websites that make standard signature requests. However, after signing, these requests are designed to transfer the victim's account ownership to withdrawal tools from the wallet. This is not a new tactic, but it has become increasingly sophisticated. The Blowfish security company has previously reported similar incidents in the past. Malicious parties exploit Solana's characteristic transaction processing behavior to avoid detection through wallet emulators. Solana caught in signature fraud attack Crypto losses reach the second lowest level at $71 million in November 2024 DeSci Pump Science platform apologizes after fraudulent token outbreak Russian President Vladimir Putin has officially signed a new law recognizing digital currencies as a legal asset in international commercial transactions, under an experimental legal regime (ELR). Accordingly, cryptocurrency mining and trading activities will be exempt from value-added tax (VAT), TASS reported on Friday. The report also states that cryptocurrency transactions within the ELR framework will be tax-exempt. However, mining facility operators have an obligation to report information to the tax authorities through their services. Organizations that fail to fulfill the reporting obligation on time will face fines of up to 40,000 rubles (375.5 USD). Putin signs law recognizing digital currencies as assets, exempting crypto mining and trading from VAT Hong Kong proposes tax exemption on digital currencies to compete with Singapore Bern, Switzerland passes law to research Bitcoin mining with surplus energy FCA waits until 2026 to introduce official crypto policies with 12% of the UK population owning digital assets You can view coin prices here. The "Weekly News Roundup" will be updated at 9:30 am on Sunday each week with a summary of market news. Please follow along. Join Telegram: https://t.me/tapchibitcoinvn Follow Twitter (X): https://twitter.com/tapchibtc_io Follow Tiktok: https://www.tiktok.com/@tapchibitcoin Viet Cuong Bitcoin Magazine
