XRP Back at $100B Market Cap | Weekly News Recap
GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. It’s time for the weekly news recap. In today’s news feature: It’s all about XRP!
Here are the top crypto news stories of the past week!
Table of Contents
Market Updates 📈
Here are the crypto highlights of the week:
- Bitcoin is down 2.2% vs the previous seven days, now at $96,077.41.
- The weekly top gainer in the top 100 coins is XRP ($2.43), up 66.6%.
- The weekly top loser in the top 100 is SOLANA ($22.8.84), down 9.2%.
- Noteworthy: HBAR ($0.2246) is up 70.9% vs the past week.
Feature Story: XRP Reclaims $100 Billion Market Cap
XRP surged past a $100 billion market capitalization late Saturday, reaching levels last seen in 2018. The token’s rally, fueled by legal and regulatory momentum, signals renewed strength for Ripple and the broader XRP ecosystem.
The numbers:
- XRP is currently trading at $2.43 per token, up 29% vs the previous day and up 66% vs the past week.
- Coindesk reported 2 billion tokens in open positions.
- At the current market capitalization of $138,883,470,175, XRP has eclipsed BNB, Solana, and USDT to become the third largest crypto by market cap.
What’s happening:
- Everyone is pointing to Ripple’s eventual legal clarity, especially with ongoing regulatory climate in the U.S. bolstering confidence in Ripple (the company), XRP, and XRP-linked products.
- One such product is Ripple’s RLUSD stablecoin, which could launch this week.
What’s next:
Optimism is increasing for XRP: Up next is a possible U.S.-based XRP ETF, which could unlock liquidity for more people who otherwise don’t have access to crypto exchanges where XRP can be purchased.
Local Crypto News 🇵🇭
- BitPinas article: Exclusive: Financial Auditor Flags ₱2.5B Capital Gap, XRP and Crypto Deficits at Coins.ph
- ICP Hub PH shared the winning projects of its iThink Hackathon RAITE 2024.
- Paytaca is set to deploy two new Bitcoin Cash vending machines in Tacloban City.
- PDAX powers PYUSD to Peso conversions in PayPal and Cebuana Lhuillier partnership for remittances.
Noteworthy 🌟
Key updates and announcements from around the crypto and blockchain world:
- Researchers uncovered a “typosquatting” scam where scammers exploit misspelled crypto wallet addresses, diverting funds irreversibly.
- Tron founder Justin Sun announced a $30 million investment in Trump’s World WLFI, and has been appointed as an advisor of the platform.
- Pantera Capital’s Dan Morehead predicts Bitcoin could hit $740,000 by 2028, driven by regulatory clarity and growing institutional adoption.
- Changpeng “CZ” Zhao advocates for the integration of AI tagging on blockchain to enhance crypto payments and remove bias.
Educational Corner 🎓
Last week, BitPinas published several informative and guide articles in various categories.
- Create memecoins in seconds with the creation toolMemepad.
- Check out the list of memecoins on Bitcoin Runes.
- Participate in airdrops with this list of low-cost airdrops.
- Earn more with PDAX’s Hold and Earn campaign.
Regulation Watch 📜
Stay informed about the latest regulatory updates from here and around the world and what they mean for you:
- Australia’s Treasury launched a consultation on implementing the OECD’s Crypto-Asset Reporting Framework (CARF) into its tax laws.
- The National Bank of Rwanda plans to regulate cryptocurrencies by early 2025.
- The UK plans to introduce crypto regulations by 2026.
- Tether ceased minting its euro-backed stablecoin EURT due to regulatory challenges in Europe.
Community Spotlight 🔦
The following people were feature in last week’s community spotlights:
- Gerome Lazaro, Co-Founder, 8Chain and San Lazarus Guild. (November 26)
- Atty. Robert De Guzman, General Counsel and Head of Legal and Compliance, Coins.ph (November 27)
- Vincent Tio, Head of Platform Solutions, PDAX. (November 30)
More Web3 and AI News 💡
Discover the latest in web3 and AI innovation.
- Sui partnered with Franklin Templeton to enhance DeFi growth.
- Phantom wallet expanded its multi-chain capabilities by adding support for Coinbase’s Base blockchain.
- Kraken will shut down its NFT marketplace by February 27, 2025, to refocus resources on new projects.
- DeFi protocol Cega Finance announced its acquisition by an undisclosed “leading platform” and will sunset operations by year-end.
Web3 Gaming Section 🎮
The future of web3 is gaming, and here are the latest news.
- Off The Grid by Gunzilla Games won “Game of the Year” at the 2024 GAM3 Awards.
- Immutable and YGG partnered to revolutionize web3 gaming, launching a $1M prize pool for players completing quests in games.
- Delabs revealed its upcoming Telegram-based games, Ragnarok and Boxing Star, at the YGG Play Summit, highlighting its focus on social gaming and web3 integration.
- Animoca Brands invested in Igloo Inc., the parent company of Pudgy Penguins, to support its expansion in the web3 ecosystem.
Upcoming Event 📅
Upcoming events:
- Tech VCs & Ph.ounders: December 3, 2024
- IC Hangout Mixer Q42024: December 6, 2024
- Bicol Blockchain Conference: December 7, 2024
- Rivalz ai.hack4PH: December 16, 2024
Stay Connected:
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This article is published on BitPinas: XRP Back at $100B Market Cap | Weekly News Recap
