This week in the world of cryptocurrency is filled with exciting news and positive developments. From the potential approval of Ripple’s Stablecoin, XRP’s market cap surpassing BNB, Stellar Lumens’ impressive surge following a Grayscale filing, to FIFA’s new NFT game, the industry is buzzing with activity. Additionally, Binance has announced the delisting of eight altcoin trading pairs, while MicroStrategy is gearing up to add more Bitcoin to its portfolio. Let’s take a closer look at the top crypto news of the week.
Stellar Lumens (XLM) saw a remarkable 58% surge this week, reaching $0.53, its highest price since 2021. This spike in price came after Grayscale Investments filed a 10-K for its Stellar Lumens Trust, reporting a 10% growth in the trust’s net assets over the past fiscal year. The positive sentiment surrounding the filing likely contributed to the strong market response for XLM, with experts predicting further growth in the near future.
Ripple is making headlines with its upcoming launch of the RLUSD stablecoin, pending approval from the New York Department of Financial Services. The regulated stablecoin is expected to debut on December 4, positioning Ripple as a major player in New York’s regulated digital finance market. Furthermore, Ripple’s XRP token has surpassed BNB in market cap, reaching over $100 billion for the first time in three years, with a price surge of over 230% this month.
In a surprising move, Binance has announced the delisting of eight altcoin trading pairs on December 10, citing periodic performance reviews and low liquidity as the reasons behind the decision. The affected tokens, including GFT and OAX, experienced a nearly 30% drop in price following the announcement, reflecting investor concerns. Users are advised to adjust their holdings before the removal date to avoid any inconvenience.
MicroStrategy, known for its aggressive Bitcoin strategy, hinted at new Bitcoin acquisitions after securing $3 billion through convertible debt issued to institutional investors. With plans to continue adding to its already substantial Bitcoin holdings of 386,700 BTC worth over $37.5 billion, MicroStrategy remains a key player in the corporate Bitcoin space. This development further solidifies the company’s commitment to digital assets.
FIFA has partnered with Mythical Games to develop FIFA Rivals, a mobile football game set to launch in mid-2025. The game will feature an NFT marketplace allowing players to trade digital collectibles of football stars. With a focus on accessibility and advanced features, FIFA Rivals aims to replicate the success of the NFL Rivals title by integrating NFTs into the gaming experience. This partnership marks an exciting collaboration between web3 games studios and major sports titles.
Chirp, operating on the Sui blockchain, introduced Kage, a play-to-earn game that rewards players for detecting nearby wireless networks using their smartphones. By integrating DePIN technology, Kage highlights the growing trend of blockchain-based P2E models with real-world applications. This innovative approach to gaming showcases the potential of blockchain technology to transform the gaming industry.
As the crypto market continues to evolve and expand, all eyes are on Bitcoin as it nears the $100,000 mark. Despite some brief corrections, BTC has maintained a steady price level around $97,000, bringing it closer to the significant milestone. With the holiday season approaching, it will be interesting to see if Bitcoin finally breaks the six-figure barrier. These top crypto news stories of the week reflect the ongoing growth and excitement in the cryptocurrency space, with promising developments on the horizon.
