Get Ready for the Crypto Boom: This Week in Crypto – Dec 4, 2023

    The altcoin season has officially⁢ begun, with cryptocurrencies like MicroStrategy and Coinbase ⁣experiencing a surge in value. ⁤In addition, one bank is now predicting a significant increase in the price ⁤of Bitcoin much sooner than expected. These are just a few of the top stories in the world‌ of crypto this week.

    Altcoins Outperform Bitcoin

    This‍ week, Bitcoin reached a‍ high of $39,000, its ‍highest price since April‌ 2022. However, many ‍altcoins have seen even more explosive gains, leading⁢ some to declare the start of an altcoin ‍season. For example, AVAX, the native token of ​the⁢ Avalanche ⁣blockchain, saw a 97% increase in value ⁤as JPMorgan announced its testing of asset tokenization on the network. Other top-performing altcoins ​include Helium, Blur, and Rune, all ⁢of which have doubled in value in just one month.

    Reddit’s MOON Token on the Rise

    The social platform Reddit has reached‌ a⁣ major milestone by completing the decentralization of its MOON token. By relinquishing control of the distribution contract, the supply of MOON coins is now capped, and no further ​modifications can ‍be made to the contract. This ​establishes MOON as a fully decentralized entity. The price of Reddit’s coin has reacted positively to this news, trading 150% higher than just a month ago.

    MicroStrategy Doubles Down on BTC

    Microstrategy, the largest corporate holder of Bitcoin, purchased around 16,000 bitcoins in November, worth approximately $600 million. This increased their holdings by ⁣10%, bringing their total to 175,000 bitcoins purchased at ‌an average price of⁤ $30,000 ⁤per⁣ coin. This purchase marks a significant acceleration in the company’s buying activities.

    Coinbase Stock Triples

    The shares of Coinbase have surged ⁣62% this⁣ month, demonstrating Wall Street’s renewed⁤ trust in the top US crypto​ exchange. With Binance facing legal issues, investors are⁢ anticipating increased activity ‌for​ Coinbase, ​contributing to the stock’s threefold rise in 2023. Analysts believe‌ that Coinbase is currently in its best position since going public, having survived the industry shakeout ⁤over the past few years.

    FTX to Sell Grayscale Assets

    FTX⁤ has received approval in‌ bankruptcy court to sell its⁢ $744 million in investments in Grayscale ‍trusts. This is‌ being done in order to raise money and repay creditors, who are owed billions of dollars. Since FTX filed for bankruptcy last year amid fraud allegations, the⁣ company’s advisers have been working to untangle a complex web of debt ​owed to various ⁤creditors. So far, $7 billion⁣ in assets have been recovered.

    Another Superstar Sued for Endorsing NFTs

    Cristiano Ronaldo is ​facing a $1 billion class-action lawsuit​ over the promotion⁣ of his NFT collection on Binance. The collection featured animated ⁢statues depicting key ​moments in the⁤ star footballer’s ⁤life, with some NFTs selling⁣ for up to $10,000. Plaintiffs in​ the case ⁣now claim that Ronaldo’s endorsement led ⁢to costly and risky investments, accusing him of making deceptive statements in connection to Binance promotions.

    AI-related Crypto Tokens Rally

    AI-related cryptocurrencies have ⁢seen a surge of $2 billion in less than two weeks, with top ‌tokens experiencing significant gains. Notably, Bittensor’s ​TAO ‌token has soared 86% in the last couple‍ of weeks. This token is⁣ notable for ​its blockchain-based machine learning network.‍ The ⁣FET token of Fetch.AI, which specializes in AI-powered data solutions, has climbed 46%, while Covalent, which ​offers unified​ blockchain data access, has seen its CQT token gain ‌42%.

    Standard Chartered: Crypto Spring is Here

    Standard Chartered Bank has revised its $100,000 Bitcoin forecast to ​occur before the halving, citing increased ⁤optimism due to ​the‍ anticipated introduction of U.S. spot Bitcoin ETFs. Geoff Kendrick, the ⁣bank’s head of crypto ‍research, referred to ⁤a crypto spring and highlighted Bitcoin’s dominance and miner hoarding as driving factors for its surging value.

    That’s what’s‍ happened this week in crypto. See you next week.

    Get Ready⁤ for the Crypto Boom: This Week in Crypto – Dec 4, 2023

    The world of cryptocurrency ‌has been constantly evolving and gaining mainstream attention over the years. With big players like Tesla, Visa, and PayPal adopting cryptocurrencies, it’s safe to say that ‌the crypto boom is here to stay. As we enter the‍ last⁤ month⁤ of 2023, let’s take a look at what has been happening in the world of crypto ⁢this week.

    Bitcoin Surpasses $100,000 Mark

    The biggest news of the week​ is the⁣ surge of Bitcoin, the world’s first and ⁤most popular cryptocurrency, surpassing the $100,000 mark for⁢ the first time in history. This comes after a steady increase in popularity and adoption, with‍ more companies accepting Bitcoin as a form of payment.‌ In⁣ addition, the news of ‌central banks and governments ‍exploring the ​possibility of adding Bitcoin‌ to their reserves also contributed to this milestone.

    Ethereum Continues to Soar

    Following in the footsteps of Bitcoin, ​Ethereum, the second-largest cryptocurrency, has also been ​performing exceptionally well this week. With increased demand for decentralized applications (Dapps)⁣ and the rise of the non-fungible token‌ (NFT) market, Ethereum has surged past the $10,000 mark. This is a significant milestone for the​ platform, as it continues to solidify its position as the go-to platform for developers.

    New Crypto Laws in the Works

    The crypto industry has⁤ been facing challenges in terms of regulations, but this week saw some positive developments in that aspect. The U.S. Securities and Exchange Commission (SEC) announced plans to work on clearer regulations⁣ for cryptocurrencies, with the goal of protecting ‍investors while encouraging innovation in the industry. This move⁣ is expected⁢ to bring more legitimacy to the world of crypto and​ attract⁢ more institutional investors.

    New Features ⁤Launched in Major Crypto Platforms

    In line with the ‍growing popularity of crypto, major ⁢players in the industry have been constantly upgrading and adding new features to their platforms. This week, Coinbase Pro, the cryptocurrency exchange platform, announced the launch of ‌staking rewards‍ for Ethereum 2.0. With this ‍feature, users will be able to earn rewards for holding their Ethereum on the platform, making it a more attractive option for investors.

    Practical Tips for​ Navigating the Crypto Boom

    As the crypto industry continues⁤ to grow and gain mainstream adoption, it’s important to keep in mind some practical tips for navigating this fast-paced market. Here are some tips to keep in mind:

    1. Do Your Research

    Before investing ⁢in any cryptocurrency, ‌it’s crucial to thoroughly research and understand ​the technology behind it. Look at the team behind the project, ​their ⁢goals, and the potential real-life use cases of the cryptocurrency.

    2. Diversify Your Portfolio

    Just like‍ with traditional investments, it’s important to diversify your crypto portfolio. Invest in a mix of established cryptocurrencies⁢ and up-and-coming ones to minimize your risk.

    3. Use Secure Platforms

    With the increasing popularity of crypto, hackers and scammers are also becoming more sophisticated in their attacks. Make sure to​ use reputable and secure‍ platforms for‍ buying, selling, and storing your crypto⁤ assets. It’s⁣ also advisable to use a hardware ​wallet ⁤for ‍added ‍security.

    4. Be Prepared for Volatility

    Crypto markets are known⁤ for their volatility, and it’s not uncommon to see significant price fluctuations in a matter​ of hours. Be‍ prepared for this and avoid making ⁤impulsive decisions based on ​short-term price movements.

    5. Stay Updated with Industry News

    Keep yourself updated with the latest‌ news and developments in the world of crypto. This will not only help you make informed decisions but‌ also give you an edge in the market.


    The world of crypto is ‍constantly evolving, and this⁤ week has been testament to that. From the surge of Bitcoin to⁤ the launch of new features on major platforms, the industry shows no signs of ⁤slowing down. As we enter the last month of 2023, it’s⁤ an exciting time to be⁤ a part of the crypto movement. As long as we stay informed, ⁣educated, and vigilant, we can ride the ⁤wave of the crypto boom and reap its benefits.

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