This week's crypto calendar includes potential Ripple stablecoin approval, XRP toppling $100 billion market cap BNB, XLM 50% rise after Grayscale Stellar Lumens Trust filing, FIFA's new NFT game, and more , packed with major events and bullish stories.
Additionally, Binance has delisted eight altcoin trading pairs from the spot market, and MicroStrategy plans to add more Bitcoin to its portfolio. Here are this week's top crypto news:
Grayscale filing increases Stellar Lumens (XLM) price by 58%
Stellar Lumens (XLM) soared 58% this week to $0.53. This is the highest value since 2021. The surge follows a 10-K filing for Stellar Lumen Trust from Grayscale Investments. The filing, filed Nov. 23, details a 10% increase in the trust's net assets compared to the previous year.
Stellar (XLM) price for the whole week. Source: BeInCrypto
A 10-K filing provides detailed financial information and risk factors for a publicly traded company. The positive sentiment surrounding this filing likely drove the strong market reaction to XLM.
“Stella recently closed above a major weekly horizontal resistance line. Retesting the broken structure, price broke through the resistance line of a descending wedge pattern on the 4-hour timeframe. It shows strong bullish potential and a very likely future move. We expect growth to at least the 0.6 level,” said popular crypto enthusiast Andrew Griffiths (formerly X). I wrote on Twitter).
Ripple stablecoin approval expected by December 4th
Ripple is preparing to launch a regulated stablecoin called RLUSD, pending approval from the New York Department of Financial Services (NYDFS). As reported by BeInCrypto, the stablecoin will likely debut on December 4th, marking Ripple's entry into New York's regulated digital financial market.
This move puts Ripple in direct competition with stablecoin issuers like Circle and Paxos. Partnerships with platforms like Bitstamp and Moonpay aim to ensure broad accessibility for RLUSD users.
Meanwhile, Ripple's XRP token surpassed BNB in market capitalization, surpassing the $100 billion mark for the first time in three years. XRP's value has risen more than 230% this month as investor optimism grows.
XRP price performance throughout November. Source: BeInCrypto
Binance delists 8 altcoin trading pairs
Another top crypto news this week was Binance announcing plans to delist eight altcoin trading pairs on December 10th. This includes GFT/USDT, IRIS/BTC, IRIS/USDT, KEY/USDT, OAX/BTC, OAX/USDT, and REN/. BTC, REN/USDT. The exchange cited regular performance reviews and low liquidity as reasons for delisting.
Prices of affected tokens, including GFT and OAX, fell nearly 30% after the announcement, reflecting investor concerns about their future viability. Binance advises users to adjust their holdings before the deletion date.
MicroStrategy eyes Bitcoin purchases with $3 billion funding
MicroStrategy co-founder Michael Saylor has hinted at another Bitcoin acquisition after the company secured $3 billion in convertible debt issued on November 22nd. The notes, offered privately to institutional investors, mature in 2029 and have a premium strike price of $672 per share.
Meanwhile, MicroStrategy remains the largest corporate Bitcoin holder. The company currently holds 386,700 BTC worth over $37.5 billion. Saylor's comments suggest the company may continue its aggressive Bitcoin strategy.
MicroStrategy's Bitcoin Buy List for 2024. Source: Bitbo
As reported by BeInCrypto, FIFA has partnered with Mythical Games to develop FIFA Rivals, a mobile soccer game scheduled to launch in mid-2025. Players can create and manage soccer clubs and compete in real-time matches.
“FIFA Rivals is designed to be extremely accessible, with a shallow learning curve and advanced features for hardcore players to explore. Our partnership with both the NFL and FIFA is a partnership between Web3 Game Studios and leading It should open the door to other collaborations between sports titles,” Mythical Games spokesperson Nate Nesbitt told BeInCrypto.
The game includes an NFT marketplace, allowing players to trade soccer stars for digital collectibles. Mythical Games aims to replicate the success of the NFL Rivals title by integrating NFTs into FIFA Rivals.
Chirp introduces DePIN Play-to-Ear games
Chirp has launched Kage, a play-to-earn game that runs on the Sui blockchain and combines entertainment with real-world practicality. Players use their smartphones to discover nearby wireless networks and earn CHIRP tokens for their activities.
As the first game to integrate DePIN (Decentralized Physical Infrastructure Network), Kage highlights the growing trend of blockchain-based P2E models delivering real-world applications.
Finally, all eyes will be on Bitcoin as it remains within reach of the $100,000 level. Despite the short-term correction, BTC has been consistently hovering around $97,000. It will be interesting to see if BTC finally reaches six digits before Christmas. These were the top crypto news of the week.
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