Every Monday, we cover the latest developments and trends in the dynamic and ever-evolving world of cryptocurrency. From price movements, to industry news, and our favorite resources, we strive to provide our readers with a comprehensive overview of the crypto landscape.
It's Monday Ndaxers!
Last week:
Nasdaq filed a 19b-4 form with the Securities Exchange Commission on Thursday, November 9th on behalf of a certain $9-trillion asset management firm for a proposed Ether Spot ETF called the “iShares Ethereum Trust.” Care to guess who it's for? That’s right: Blackrock is at it again, confirming its intent to move beyond Bitcoin with its ETF aspirations. The price of Ether was up 8.9% on the news and continues to rise. (Ether closed its weekly candle up 9.9% according to CoinGecko, a price surge that has helped ETH regain some of its lost market share ground to BTC, which has significantly outperformed it in recent months.) ETH’s market share is now back at 17%, up 1.3% prior to the announcement. The Block
As part of the inaugural opening of a new Institute for Blockchain and Crypto Research—the first of its kind in the world, recently opened in Paris, France—two lectures were delivered (no wine?): Historian Jacques Favier spoke about the history of currencies up to Bitcoin, and cryptographer David Pointcheval waxed poetic on zero-knowledge proofs and anonymity. The institute will be holding regular public events, and according to its director Cyril Grunspan; their work will focus primarily on educational goals: “...not to lobby but to create a forum for discussion on crypto assets.” It has a board of 11 experts from major French educational institutions and a committee of six practitioners, including Ledger co-founder Nicolas Bacca and the founder of Paymium, Pierre Noizat, to supervise its work. Amid the market turmoil of H1 2023, the French crypto industry secured 27% of all new investment deals struck in the fintech sector. Decrypt
OK—so what do the Tortoise and the Hare have to do with Bitcoin? Everything and nothing (but if you’ve ever heard the aphorism “It’s not timing the market but time in the market” then perhaps you’ve got a clue). The media loved to dunk on MicroStrategy for their big bold bitcoin bet when BTC was trading sub-20K-per-coin, but Michael Saylor stuck to his guns and continued buying regularly, undeterred by market fluctuations; now his ‘ridiculous’ bet is up $1B (unrealized—which is just as well since they're not selling). This week, industry podcaster Scott Melker tweeted: “If you started dollar cost averaging into #Bitcoin at the dead top of the last cycle, buying $100 a week, then you have spent $10,000 and your position is worth $13,431.32. You’re up 34.31%. If you started at the DEAD TOP.” See the moral of the fable now? If you take consistent steps like the Tortoise, you win the race. CoinDesk Twitter
In the cryptocurrency community, there's always something going on. Here are a few events and happenings that you might be interested in:
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Disclaimer: This article is not intended to provide investment, legal, accounting, tax, or any other advice and should not be relied on in that or any other regard. The information contained herein is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of cryptocurrencies or otherwise.