Weekly Crypto Market News Round Up (OCT 10-16)

weekly Crypto Round Up oct 10 to oct 16
  • 1M in Waiting List for Coinbase NFT Launching
  • Ripple Invests $44M for a Greener Future
  • BTC Price Surges to over $62k

The crypto market is now shining brighter than ever, thanks to all the crypto assets that contribute to this surge. In detail, the crypto space market cap is now over $2.5 trillion with a 24-hour growth rate of +2%. Of course, Bitcoin, that favourite digital asset in the crypto world plays an important role in the uptrend position of the market.

However, Bitcoin cannot do this alone, it needs the power of altcoins and the other projects in the crypto space. These projects include NFT’s, Dapps, exchanges and many more. Indeed, we can say that the communities in the crypto world continue to act as one to achieve one common goal, to be the leader in the digital and financial world. 

With all these achievements of the crypto world, aren’t you curious about what is happening in the crypto world? In this CryptoNewsLand article we will discuss most of the highlights that happened in the crypto world in the past seven days.

Without further ado, here is the hottest news in the crypto world that you might have missed this week.

Coinbase CEO: 1M in Waiting List for Coinbase NFT Launching

Non-fungible tokens (NFTs) continue to define the 2021 crypto market. In fact, Coinbase is launching an NFT marketplace. According to CEO Brian Armstrong, more than 1 million users have already signed up since the marketplace has opened its waiting list on October 13.

Currently, persons 18 years old and above and those living in the US can join the waitlist. However, Coinbase said that the marketplace will cater to people from different countries later on.

Hello $60K: Bitcoin News and Development as BTC Price Surges

At the time of writing, Bitcoin price is at $62,262.86, according to CoinGecko.

Here are various mainstream Bitcoin news and developments that may have contributed to the strong market position of the crypto.

First Futures Bitcoin ETF to Start Trading

Various media outfits reported that the US Securities and Exchange Commission (SEC) may approve the first bitcoin futures exchange-traded fund (ETF) this coming week.

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Reese Witherspoon Gets Her First NFT Amid Bitcoin Recovery

Many industries have been exploring the use cases of NFTs. To name a few, the entertainment and sports industry has begun to fully commit to the NFT market. Athletes, musicians, artists, and sports brands alike are all flocking to this sector.  

Slowly but surely, more and more big names are starting to invest in NFTs. Reese Witherspoon is one such star who has just gotten into the NFT hype. The popular actress took to Twitter to share her excitement.


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Ripple Invests $44M With Nelnet for a Greener Future

Ripple, the leading crypto and blockchain solutions provider has chosen to invest in Netnet Renewable Energy to bring forth a greener and more sustainable future. The latter is a Nelnet business focused on solar energy projects. 

In detail, Ripple has put in $44 million in Nelnet’s solar energy investment fund. The clean energy brand is funding solar energy projects across the USA. Together, they hope to elevate the switch to a clean and stable energy source for the future. 

This joint investment, funded majorly by Ripple, will lead to the reduction of over 1.5 million tons of carbon emissions in the US. This accomplishment should come about in 35 years. To put this into perspective, statistically, this amount of carbon dioxide is equal to about 154 million gallons of gasoline.

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Binance Burns Bridges: China Punished for Banning Crypto

Binance — the global crypto trading exchange platform, made a bold announcement via a blog post. To specify, the exchange is delisting the CNY trading zone. This means that Binance will stop all services provided to users in mainland China. 

In detail, the blog post talks about Binance’s decision on the matter of regulatory requirements demanded by the local government. In response, Binance C2C decided to simply delist the CNY trading zone. 

To be exact, the delisting will go into action from 24:00 (East Eighth District Time) on December 31, 2021, onwards. For many crypto users across the world, there seems to be a unanimous agreement on Binance’s decision.

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Bull Market Already? Bitcoin Price $60K, Ethereum Price $3.8K

The crypto space is ecstatic, as the crypto prices of major assets are showing bullish performances. For a brief moment, Bitcoin price reached $60,000, a price that it has touched last May before going into a massive plummet. At the time of writing, BTC price is at $59,907.43, according to CoinGecko.

Currently, Bitcoin’s price action is well above the 50-day and 200-day Simple Moving Averages (SMA). This shows that the BTC price has performed satisfactorily in the last weeks. The asset may only be gaining enough support at the $60,000 level before aiming to achieve another all-time high (ATH) price in the near future.

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Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

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