Crypto Weekly Update | Bing

Bitcoin prices soar

Nov. 4, 2023 (Bing) -- The past week was eventful for the crypto space, with several developments and announcements that could have an impact on the market. Some of the highlights include:

Marathon Digital, a BTC mining company, launched a pilot mining initiative in Utah, using methane gas from landfill waste to power their operations. This could reduce the environmental impact of BTC mining and lower the operational costs.

WadzPay, a crypto payment platform, achieved initial approval from the Dubai Virtual Assets Regulatory Authority (VARA), allowing it to offer transfer, settlement, and broker/dealer services in Dubai. This could boost crypto adoption in the region and attract more investors and users.

Immutable, a blockchain gaming platform, announced that games backed by Disney, Alibaba, Google, and Square Enix will build on its zkEVM technology, which enables scalable and secure transactions on Ethereum. This could make blockchain gaming more accessible and popular, as well as increase the demand for NFTs and gaming tokens.

Three Bitcoin wallets from the Satoshi era, containing about 230 million USD worth of BTC, moved their funds to new addresses after almost six years of inactivity. The reason for this movement is unknown, but it could indicate that some early adopters are preparing to sell or use their coins.

Several low-cap altcoins saw significant gains in the past week, such as PEPE2, WEALTH, SIMPKU, Kaspa, and The Graph. These coins benefited from increased attention and trading volume on DEXTools, a platform that provides analytics and insights for decentralized exchanges.