Cryptocurrency prices bounced back on Friday’s work report to finish the week on a high note and recover key technical levels. Bitcoin and Ethereum are trading at their highest levels since late August. Still, the current price has fallen in the last three months. From Coinbase’s latest earnings report and Funko doubling NFT sales, to GameStop’s crypto initiative, Elon Musk pumping up Dogecoin and Binance’s potential role on Twitter – here’s the top cryptocurrency news from the past week.
Be sure to check out this week’s coverage as well cryptocurrency ETFs like BITQ, BLOCK and BITS.
Click here for the latest Cryptocurrency Prices and News. And if you’re new to the world of Bitcoin, Ethereum, blockchain and more, stop by What is Cryptocurrency glass.
Cryptocurrency News: Price action
Bitcoin recovered $21,000 on Monday after nearly dropping to $20,000 Thursday morning following the Fed’s rate hike. The world’s largest crypto rose from about $19,300 last Monday. Meanwhile Ethereum rebounded above $1,640 after sliding to $1,500 on Thursday. ETH is still above the $1,340 level at the start of last week.
Cryptocurrency Price Heat Map:
Investing in digital assets is highly volatile. While cryptocurrency fundamentals and technical indicators may differ, investors should focus on the same primary goal. First, stay protected by learning when it’s time to sell, loss loss or get a profit. Second, prepare a profit if cryptocurrency starts to rebound.
Despite its original promise, cryptocurrencies have not yet acted as a hedge against inflation. However, they have trended with the broader index. read The Big Picture and Market Pulse to track daily market trends.
See IBD Best Cryptocurrencies and Crypto Stocks to buy and watch page to help you navigate the world of digital asset investing.
Want to dive deeper into crypto? Check it out What is Cryptocurrency? explanatory page.
Coinbase Records other earnings Miss
Funko Ganda NFT Sales
Binance Wants An Active Role On Twitter
Galaxy Digital Cuts Staff
Crypto financial services company Galaxy Digital plans to cut about 20% of its global workforce, the Wall Street Journal reported.
Celsius Network Investigated For Potential Ponzi Schemes
A New York judge on Tuesday evening ordered an investigation into the Celsius Network to determine whether the bankrupt crypto lender was operating as a Ponzi scheme. A court-appointed examiner and Celsius’ creditors’ committee will meet to determine who will lead the investigation.
Visa Kicks It With Crypto.com
visa (V) is partnering with Crypto.com on a line of soccer-related NFTs to auction ahead of the 2022 FIFA World Cup, the company announced Tuesday. The payment giant is one of the companies involved in the crypto space. Last Thursday, Visa filed for a trademark for a cryptocurrency-transaction wallet and software for virtual environments, signaling a metaverse push.
Coinbase Joins Ripple Against SEC
Coinbase (coins) filed a petition in support of Ripple Labs in Ripple’s case with the Securities and Exchange Commission Monday night. Ripple Labs, the creator of the Ripple payment protocol and the XRP token, is fighting a lawsuit alleging that cryptos are being sold as unregistered securities.
Elon Musk Keeps Pumping Dogecoin
Elon Musk’s Dogecoin Tweet from Halloween night inspired wave of cryptos scam triggering another price increase for DOGE.
Apollo, Anchorage Partner On Crypto Services
Apollo Global Management (APO) partnered with institutional infrastructure provider Anchorage Digital to offer cryptocurrency custody service for its clients. One of the world’s largest asset managers, Apollo has more than $500 billion in assets under management. Meanwhile, Anchorage’s crypto unicorn has target institutional investors to build around the bear market.
GameStop is Crypto
On Tuesday evening, GameStop (GM) announced the launch of FTX gift cards online and in selected stores through a partnership with crypto exchange FTX. And, on Monday, the video game retailer launched its own NFT marketplace after teaming up with Web 3 game maker Immutable.
Another Crypto Miner In Trouble
Argo Blockchain (ARBK) shares tumbled 40% premarket on Friday after the London-based crypto miner announced financing from strategic investors fell through. Argo seeks to raise $ 27.9 million through subscriptions for ordinary shares, disclosed October 7. The company warned that it is necessary to curtail or cease operations if it cannot secure other financing options.
NFT Marketplaces Eliminate Royalties
The LooksRare NFT market announced that it does not support creator royalties by default, and will share 25% of protocol transaction fees with non-usable token producers. The industry is trending towards zero-royalty transactions, LooksRare said, instead of sharing the 5% to 10% of the secondary sales price that creators usually offer. Last month, Magic Eden, the largest NFT marketplace on the Solana blockchain, declare it makes royalties optional.
Read More Cryptocurrency News
Want market driving info sent straight to your inbox? Sign up for IBD’s new daily newsletter by clicking the image below.
You may also like: