Weekly Market Review - November 4th

Weekly Market Review - November 4th
Njani Ruetsch - Coin.fyi

Weekly Market Review - November 4th

We compile the top news stories weekly within the crypto, blockchain, metaverse, and NFT space. The weekly wrap-up covers everything from BTC & ETH updates, recent investments, developments of exciting new projects, and other relevant topics.

Here is everything you need to know for the week of October 31st to November 4th

📈  Weekly BTC and ETH Overview

Bitcoin (BTC) continued to push upwards throughout the week and defended $20k, showing an increase of 3.36% over the past week. Ethereum stays consistently bullish at around $1.5k, up 6.69% from last week. 
Towards the middle of the week, crypto traders shifted their attention to the FED, which raised interest rates by 75 BPS for the 4th time in a row. BTC and ETH saw volatility as the FED announced they would stick to their plan of keeping 2% inflation.

🗞️ Top Market News 

  • Elrond announces new name - MultiversX. On the first day of Elrond’s X Day conference, co-founder Beniamin Mincu announced they would be rebranding to MultiversX - a highly scalable, secure and decentralized blockchain network created to enable new business applications for users, businesses, and society structured around the metaverse. Read more about MultiversX here and follow the X Day live stream here.
  • Goldman Sachs teams up with MSCI and Coin Metrics to create datanomy - a digital asset classification system. The partnership aims to give investors in the industry a simplified way to track coins and tokens and monitor the space. Read more about the announcement here.
  • Instagram will support the NFT marketplace hosted by Polygon. Meta recently released a statement that it aims to host an NFT Marketplace on Instagram, which Polygon blockchain will support. Currently, the feature is available in the US and will soon be rolled out to other countries.
  • Twitter announces NFT beta feature after Elon Musk’s recent takeover. Selected users are currently testing the feature with NFT marketplaces Magic Eden, Rarible, Dapper Labs, and Jump.trade. Read more here
Here are last week’s top Gainers


🚀 New Project Developments

  • MOOAR Launchpad launches NFT Marketplace powered by StepN. Announced at the end of this week, the creator-centric and community-driven launchpad aims to catalyze NFT adoption to more mainstream companies in the future. Read more here.
  • Paradigm and Just in Roiland launched its new NFT Art Gobblers on Halloween and has taken Twitter by storm ever since the announcement. The collection has, since the launch, surged from a free mint to a floor price of 15 ETH and brought in more than 6,800 ETH in volume. Read more about Art Gobblers here

🔍 More Featured Stories

  • CZ offers Binance as an alternative Twitter payment. During the acquisition of Elon Musk’s Twitter takeover, Binance invested $500 million in the bid to acquire. The company announces that they are ready to help Twitter with a payment system. Read more about what Binance had to say here.
  • Nissan has filed 5 trademark applications. For some of the car manufacturers' most iconic car models like GTR, SKYLINE, and Z, the company plans to create NFTs and NFT-backed media, Online NFT marketplaces + Digital wallets, NFT minting, trading, and storing software. Read more here.