Below are the crypto top news highlights for the week. Click the links to see the full news.

The Crypto Top News Highlights

Monday, 23rd October 2023

Topic: Bitcoin Skyrocketed Back to the $31,000 level, Propelling 5 Altcoins Higher

Key Takeaways

  • The cryptocurrency markets had a huge upswing over the weekend, with Bitcoin surging to a new multi-month high of almost $31,000.
  • Bitcoin now controls more than 52% of the market, a level not seen since April 2021.
  • Nevertheless, compared to the double-digit increases seen in several altcoins, Bitcoin’s daily gain of 2% is negligible.

Topic: Bitget Has Released the New ⅔ Private Sharding MPC Wallet

Key Takeaway

  • Bitget’s release of an MPC wallet with 2/3 private key sharding is a significant step towards enhancing the security and usability of cryptocurrency wallets.
  • The initiative is intended to replicate the user experience commonly found in conventional Web2 products and services, according to the exchange.
  • Technically speaking, Bitget’s MPC wallet has a 2/3 threshold configuration, secure “large prime numbers,” and a threshold signature technique.

Crypto Top News Highlights for The Week

Tuesday, 24th October 2023

Topic: XRP Price Has Shown a New Price Increase Within the Last 24 Hours

Key Takeaways

  • The price of XRP has significantly increased during the past several hours, reflecting the overall upward trend in the cryptocurrency market.
  • Temporarily rising by more than 5%, XRP is now getting closer to a crucial resistance level that, if broken, could set off a strong and swift price movement known as a “god candle.”
  • Egrag, a renowned crypto analyst, has detected major indicators that point to an impending bullish rise using the 3-day XRP/USDT price chart.

Topic: A New Gold-Backed Crypto and NFT Ecosystem

Key Takeaways

  • The use of blockchain technology has made it possible to publicly prove and trace the digital ownership of any asset, including gold reserves, which may now be represented by tokens backed by physical gold.
  • International Precious Metals (IPM) has developed a traceable method, from the mining of gold to the minting of tokens backed by gold on the blockchain.
  • This method will result in a vertically integrated coin.

Crypto Top News Highlights for The Week

Wednesday, 25th October 2023

Topic: Coinbase Contested the SEC’s Jurisdiction Over Cryptocurrency in a Fresh Response

Key Takeaways

  • In its last attempt to get a lawsuit filed by the securities regulator dismissed, Coinbase is contesting the SEC’s jurisdiction over cryptocurrency.
  • It has claimed that the US Securities and Exchange Commission overreached its jurisdiction by classifying cryptocurrencies that are listed on the exchange as securities.
  • Coinbase has gotten approval from the Commodity Futures Trading Commission (CFTC) to launch crypto futures trading in the United States.

Topic: Binance Intends to Migrate Merit Circle Token (ERC20 and BEP20) to BEAMX

Key Takeaways

  • Binance recently released a statement stating that it will support the Merit Circle token swap, redenomination, and branding to Beam (BEAMX).
  • The DAO launched the initiative with the goal of bringing the Merit Circle Ecosystem’s present practices and activities into conformity.
  • The company has informed its users that starting on November 7, 2023, at 03:30 (UTC), deposits and withdrawals involving the MC (ERC20 and BEP20) token will be halted.

Crypto Top News Highlights for The Week

Thursday, 26th October 2023

Topic: “Magnificent Seven” Tech Stocks Lost More Than $280 Billion as Crypto Surges

Key Takeaways

  • Google search statistics have also shown fears of a “stock market crash,” with the three-word term up 233% in the past week.
  • The “magnificent seven” tech stocks lost more than $280 billion in value after multiple earnings reports were made public on October 25, raising concerns about an impending tech recession.
  • The top seven blue-chip tech companies are Apple, Microsoft, Meta, Amazon, Alphabet, Nvidia, and Tesla.

Topic: The New Partnership Between Mastercard and Moonpay Will Blend Traditional Finance and Web3 Services

Key Takeaways

  • On October 25, Mastercard announced a groundbreaking partnership with MoonPay, a prominent cryptocurrency payment firm.
  • This strategic alliance marks a significant step in advancing the integration of Web3 services into the traditional financial ecosystem.
  • The collaboration between Mastercard and Moonpay reflects a broader shift in the financial landscape, where traditional financial institutions recognize the significance of cryptocurrencies and blockchain technology.