Weekly News Digest for Nov 6-Nov 12 | by Bitcoin.com | Nov, 2023

A weekly digest of the news that matters

Last week the cryptocurrency market was marked by robust growth and a few significant milestones. Bitcoin exhibited strong performance, starting the week steady above $35,000 and showing indicators of potential growth. Notably, it surpassed $37,000, reaching an 18-month high due to market optimism and a short-squeeze frenzy. This bullish trend persisted despite low trading volumes over the weekend, with the market seeming cautiously optimistic as technical indicators hinted at possible overbought conditions. Ethereum paralleled this upward trajectory, consolidating just under $1,900 midweek and displaying bullish trends with overbought signals.

In the altcoin sector, Cardano (ADA) experienced notable fluctuations, starting the week with a significant increase, then undergoing a slight drop before recovering again towards the end of the week. Solana (SOL) notably surged by 28%, reflecting the overall bullish sentiment in the altcoin markets. VERSE token, which ended the week up more than 11%, experienced a one day increase on Thursday of 9%. Another standout was Polygon (MATIC), which saw an impressive 20% increase on Sunday alone, culminating in a total weekly gain of 30%.

Buy, sell, trade, earn, use, and manage cryptocurrencies with the multichain Bitcoin.com Wallet app.

Blackrock filed with the SEC to list its Ishares Ethereum Trust ETF on Nasdaq, offering US investors a regulated option to invest in Ethereum.

Robert Kiyosaki continues investing in Bitcoin, gold, and silver, seeing them as secure assets amid global instability and potential war.

Senator Ted Budd proposed the Keep Your Coins Act to safeguard individuals rights to use self-hosted cryptocurrency wallets.

October saw a 32% increase in decentralized exchange trade volumes, with Uniswap leading the market.

The Simpsons Treehouse of Horror episode humorously depicted NFT mania through Bart accidentally becoming a highly valued NFT.

Bitcoins NFT sales exceeded Ethereums in a 24-hour period for the first time, marking a notable shift in the NFT market.

Tether reached a record $86.51 billion valuation, with its Tron-based version surpassing Ethereum in supply and transaction metrics.

Convicted Sam Bankman-Fried faces continued legal challenges, including SEC and CFTC charges and a class-action lawsuit seeking reparations.

Bitcoin mining profitability spiked towards the end of 2023, with daily earnings per petahash reaching new highs.

Fidelity responded to nine widespread Bitcoin criticisms, countering them as either unfounded or not serious concerns.