What Happened in the Web3 World This Week?
This week brought notable developments in the Web3 world. Many platforms introduced innovative features to offer users greater freedom and new earning opportunities. Additionally, NFT and gaming-based projects launched new reward systems and airdrop campaigns to attract more users and boost engagement.
Visa and Coinbase Launch Real-Time Crypto Purchases
Visa and Coinbase have announced a new integration allowing users to buy cryptocurrencies using Visa debit cards. With this partnership, Coinbase users can make transactions in real time, without waiting for funds to be withdrawn from their bank account. This feature aims to make using cryptocurrencies faster and easier for users.
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Bitcoin Price Drop Leads to $250 Million in Bullish Liquidations
The recent decline in Bitcoin's price has led to the liquidation of approximately $250 million in bullish positions. This situation has created uncertainty among cryptocurrency investors, while a market sentiment indicator has reached peak levels. This fluctuation in Bitcoin is reported to have impacted other major cryptocurrencies as well.
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NFT Trading Volume Increases in October 2024
NFT market trading volume recorded a noticeable increase in October 2024. This rise is thought to be linked to the launch of new NFT projects and the growing demand for existing collections. The increase indicates a renewed interest in the crypto and digital collectibles market.
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MicroStrategy Surpasses Coinbase!
MicroStrategy, one of the top institutional Bitcoin investors, has surpassed Coinbase in market capitalization. With around 250,000 Bitcoin, MicroStrategy's value exceeded Coinbase’s due to Bitcoin’s price volatility and the decline in Coinbase shares.
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Crypto Projects Set to Unlock $2.6 Billion Worth of Tokens in November
Among the most notable token unlocks in November are Memecoin, Aptos, Arbitrum, Avalanche, and Optimism. Approximately $2.68 billion worth of crypto assets will be released. Memecoin will unlock around $37.8 million, Aptos $93 million, Avalanche $39 million, Optimism $44 million, and Arbitrum $45 million.
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Tether Releases Financial Report, Sets Record in Profitability
Tether posted a record profit of $2.5 billion in the third quarter of 2024. Its total consolidated profit reached $7.7 billion, equity rose to $14.2 billion, and total assets reached $134.4 billion.
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Immutable on SEC’s Radar
Web3 gaming company Immutable has announced receiving a Wells Notice from the U.S. Securities and Exchange Commission (SEC). The SEC considers the IMX token a security and has opened an investigation into the token, which was issued in 2021. Immutable’s CEO and related organizations also received notice, while the company clarified that legal processes with the SEC have not yet begun. Following this news, the IMX price dropped significantly.
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