Welcome to this week’s Crypto Weekly Roundup, where we dive into the latest highs, lows, and everything in between. From Bitcoin’s historic price surge to drama on Crypto Twitter, this week has been packed with news shaping the future of digital assets. Let’s break it down.
🚀 1. Bitcoin Hits a Record High of $77,000
Bitcoin smashed through its previous all-time high, reaching a jaw-dropping $77,000, marking a 10.6% weekly gain.
Ethereum followed suit with a 14% increase, while Solana climbed 15%.
XRP gained 10%, and Dogecoin rallied an impressive 20%, largely due to yet another Elon Musk-driven hype wave.
The crypto market’s upward momentum reflects increasing investor confidence, fueled by significant macroeconomic and geopolitical events.
🏛 2. Donald Trump Wins U.S. Presidential Election
Donald Trump’s return to the White House has sparked optimism in the crypto markets. Investors anticipate regulatory relief and a bullish market under his administration.
Interestingly, prediction platforms like Polymarket accurately forecast the election outcome, once again proving the value of blockchain-based prediction markets.
💹 3. Bitcoin Surpasses Meta in Market Cap
Bitcoin’s market cap surged to $1.46 trillion, officially overtaking Meta (formerly Facebook) to claim the 9th spot globally.
This milestone underscores the growing dominance of digital assets in the global financial ecosystem.
🇺🇸 4. Senator Lummis Proposes U.S. Bitcoin Reserve
In a groundbreaking proposal, U.S. Senator Cynthia Lummis suggested that the U.S. government acquire 1 million Bitcoin over the next five years.
At current prices, this would cost around $80 billion, a bold move aimed at strengthening the U.S. dollar and tackling national debt.
The idea has ignited debates about Bitcoin’s role as a global reserve asset.
💼 5. Record Inflows to Digital Asset Products
Institutional interest in crypto continues to soar:
Last week alone, digital asset products saw $2.2 billion in inflows, bringing the year-to-date total to $29.2 billion.
BlackRock’s Bitcoin ETF made headlines with its largest trading day ever, clocking in at $4.1 billion in volume following Trump’s election win.
🇫🇷 6. French Gambling Regulator Eyes Polymarket Ban
A French trader turned $30 million into $48 million betting on Trump’s win using “Neighbor Theory.”
This success story has caught the eye of regulators, who are now considering a ban on Polymarket in France.
The move raises concerns about the future of decentralized prediction markets.
🕊 7. Justin Sun Accuses Coinbase of Pay-to-Play
Crypto Twitter exploded as Justin Sun alleged that Coinbase demanded a staggering $80 million in TRX and $250 million in BTC to list TRON.
The accusations have reignited debates over the ethics of listing fees in the crypto industry.
Coinbase has yet to respond to the claims, leaving the community speculating.
🐿 8. Solana Meme Coin Craze: Squirrels Go Viral
After a viral story about “Peanut the Squirrel,” , a squirrel that was euthanized in the USA, the Solana blockchain saw over $150 million worth of squirrel-themed tokens enter the market.
The phenomenon highlights the enduring appeal of meme coins, even in a market dominated by serious institutional developments.
🎨 9. NFT Market Sees a Revival
After seven months of decline, the NFT market is bouncing back:
October saw an 18% increase in sales, totaling $356 million.
Solana emerged as the leading blockchain for NFT growth, further cementing its position as a key player in the space.
🔄 10. OpenSea Plans a Comeback
With trading volumes declining, OpenSea announced plans to rebuild its platform from scratch, targeting a December relaunch.
The move signals OpenSea’s commitment to maintaining its position as a leader in the NFT ecosystem.
🌍 11. Huawei Embraces Blockchain with Digital Yuan Integration
Huawei’s HarmonyOS NEXT now supports the Digital Yuan, a move that could potentially impact 1 billion users.
This integration marks a significant step toward mainstream blockchain adoption, particularly in emerging markets.
🔥 12. Ethereum Activates Fee Burning Again
Ethereum’s fee burning mechanism is back in action, reducing the circulating supply of ETH and contributing to its deflationary model.
The network’s Base layer-2 solution also hit its first major milestone, showing promising scalability improvements.
⚖️ 13. Tornado Cash Trial Delayed
The trial of Roman Storm, co-founder of Tornado Cash, has been pushed to April 2025.
The delay extends the uncertainty surrounding the project, which remains a focal point in debates over privacy versus compliance in crypto.
💵 14. Tokenized Real-World Assets Hit $3 Billion
The total value of tokenized real-world assets (RWAs) has crossed the $3 billion mark, highlighting a growing trend of tokenizing traditional assets like real estate and bonds.
RWAs are gaining traction as they bring liquidity and accessibility to otherwise illiquid markets.
🇳🇬 15. Nigeria Tightens Crypto Regulations
Two Nigerian crypto firms were fined $30,000 for unauthorized USDT-to-Naira transactions.
The crackdown is part of Nigeria’s efforts to enforce compliance in the burgeoning crypto space.
Despite stricter regulations, Nigeria remains one of the most crypto-active nations globally.
🌍 16. Ethiopia Mines Bitcoin to Boost Economy
Ethiopia has generated $55 million from Bitcoin mining over the past 10 months.
The country now contributes 2.25% to the global Bitcoin hash rate, showcasing its ambitions to use crypto for economic growth.
📉 17. U.S. Federal Reserve Lowers Rates
The U.S. Federal Reserve reduced its benchmark interest rate by 25 basis points to a new range of 4.5%-4.75%.
The decision was widely anticipated and has provided relief to risk-on assets, including cryptocurrencies.
🌟 18. BlackRock’s Spot Bitcoin ETF Sees Massive Inflows
BlackRock’s spot Bitcoin ETF recorded a stunning $1.1 billion in inflows on its first day, a major milestone that signals growing institutional interest in crypto.
🔮 What Lies Ahead?
The crypto market continues to ride a wave of optimism, fueled by institutional interest, innovative developments, and global adoption. However, challenges in regulation and market volatility loom large.
Stay tuned for next week’s roundup as we continue to track the ever-evolving crypto landscape!
What was your favorite story this week? Let us know in the comments or join the conversation on TawkCrypto’s Telegram channel! 🚀
