This Week in Crypto: December 01, 2023
Greetings, crypto enthusiasts! Welcome to another edition of “This Week in Crypto,” where we unravel the latest happenings in the ever-evolving world of digital assets.
Let’s dive into the highlights:
1- Bitcoin Eyes Best November Since 2020 as PCE Fails to Move BTC Price
2- 2024 Will Be the Year Tokenization Truly (Finally) Begins
3- Coinbase Might Be Forced to Share Your Bitcoin Trading Data With the CFTC
4- AXS 2.0.0 Update: What’s New?
1. Bitcoin Eyes Best November Since 2020 as PCE Fails to Move BTC Price
Bitcoin (BTC) is poised to secure its highest monthly close since May 2022, maintaining a resilient stance despite the Personal Consumption Expenditures (PCE) Index failing to ignite significant price movements. The day’s Wall Street open saw BTC trading in a narrow range below $38,000.
While the PCE results aligned with expectations, reflecting well on the Fed’s monetary tightening efforts, questions lingered about the possibility of interest rate cuts. The crypto community remained cautious, contemplating the Fed’s next moves in light of falling but still elevated inflation.
November has seen BTC gain nearly 10%, marking the first positive performance for the 11th month since 2020. As Bitcoin approaches a monthly close above $37,660, it could secure its highest close since May 2022, setting the stage for potential further gains.
Read more: Bitcoin Eyes Best November Since 2020 as PCE Fails to Move BTC Price
2. 2024 Will Be the Year Tokenization Truly (Finally) Begins
Colin Butler, Global Head of Institutional Capital at Polygon Labs, predicts that 2024 will witness the true takeoff of tokenization for real-world assets. While tokenization has been hailed as the next big thing for years, technical bottlenecks and trust issues have impeded its widespread adoption.
Recent progress in overcoming these challenges sets the stage for a surge in tokenization activities. Private equity funds, including industry giants like Hamilton Lane and JP Morgan, are showing intense interest in developing tokenized funds. The next wave of tokenized assets is expected to include bonds, equities, real estate, art, automobiles, commodities, and more.
As major financial players enter the tokenization market, 2024 promises to unlock the full potential of digitizing real-world assets on the blockchain.
Read more: 2024 Will Be the Year Tokenization Truly (Finally) Begins
3. Coinbase Might Be Forced to Share Your Bitcoin Trading Data With the CFTC
Coinbase users received emails indicating that their account information might be shared with the Commodities Futures Trading Commission (CFTC) following a subpoena related to crypto exchange Bybit. While Coinbase is considering protesting the subpoena, it is working with the CFTC to determine the data’s scope and limit its sharing as much as possible.
Some users questioned why they were targeted, speculating that only those who used both Coinbase and Bybit were affected. However, several Coinbase users who received the notice claimed they never used Bybit, raising concerns about the breadth of the subpoena’s impact.
Read more: Coinbase Might Be Forced to Share Your Bitcoin Trading Data With the CFTC
4. AXS 2.0.0 Update: What’s New?
Exciting news for AXS holders! The AXS 2.0.0 update has arrived with several enhancements:
Stay informed on zkEVM and AXS.
Toggle push notifications seamlessly.
Easy navigation for Documentation and Knowledge Hub.
Liquidity Pool rewards visualization.
Update now to experience a smoother and more informed AXS journey!
Read more: AXS 2.0.0 Update is Here: What’s New?
🌐 Stay Connected
As the crypto landscape continues to evolve, staying informed is key to navigating the dynamic shifts. Join us next week for more updates and insights. Remember, information provided here is for educational purposes only and should not be considered financial advice.
See you soon, for another edition of This Week in Crypto!
