With the crypto market going up with a clear indication of the uptrend along with the most important announcements, partnerships, and controversies, TheCoinRise is back with the latest news roundup for November 30.
The market remains bullish after Monday’s booming start as the majority of the coins have helped investors grab their profits. On the other hand, Metaverse tokens seemed a bit weak as the day started but soon would be in recovery mode.
TheCoinRise today reported about an important indicator that shows that the pro-Bitcoin traders are bullish with mixed sentiments and the recent correction could be the bottom, but we should be premature.
Bitcoin, after a successful major rally, seems to be failing to breach the $60,000 mark. It has corrected itself, going down by around $2,000. This might be an invitation to Bitcoin’s bearish divergence on the weekly charts. However, the daily chart indicates the setting up of a bullish divergence.
Shiba Inu surges by over 30% as Kraken announces its listing
After some rough past weeks, the favorite meme coin Shiba Inu has resumed its upward rally, increasing its value by more than 30% in just 24 hours. The coin, after a heavy push, crossed the $0.000050 mark. Market pundits believe that the coin is going to follow the same steps as it did in October’s first week.
The surge came in between Kraken’s announcement of listing Shiba Inu in its platform for trading with at least 50,000 SHIB and a minimum deposit of 373,000 SHIB. The coin is sitting at the 11th position with a market cap of more than $28 million.
Invesco brings Bitcoin ETN to Europe
After withdrawing its application from the exchange-traded funds (ETFs) in the United States’, Invesco has made a mind-blowing entry by introducing spot Bitcoin (BTC) exchange-traded note or ETN on the German stock exchange Deutsche Boerse.
The stock exchange said that the physical Bitcoin ETN would be listed on Xetra, its digital stock exchange, with BTIC being the ticker symbol for the product.
Before this, Invesco explained why it dropped Bitcoin ETF plans in the United States and said that it wants to add more value and utility in the lives of investors rather than being 100% Bitcoin ETF.
Jack Dorsey resigns from Twitter CEO
Twitter founder and crypto lover Jack Dorsey has announced his farewell as the CEO position from the social media giant Twitter. He tweeted to his 5.9 million followers this Monday, saying that the board of directors of the company has appointed the current chief technology officer Parag Agarwal as the new CEO effective from November 29.
He also added that board member Bret Taylor has also agreed to serve as the new chair.
South Korea plans to delay crypto tax law
South Korea, with its massive involvement in crypto and its regulation, hints at a one-year delay in the implementation of the crypto tax law. The investors would have to pay 20% of the profits they make while crypto investment. The authorities voted for another postpone citing inconsistency in the data obtained.
The parliament of the country would approve the amendment by voting on December 2. If it gets approval, the tax will be imposed from January 1, 2023, instead of 2022.
Snoop Dogg’ launches his own NFT
The well-known hip-hop artist, Snoop Dogg, jumps into the NFT world as he has announced the launch of his first non-fungible token (NFT) with the partnership with Ryan Colditz (Coldie), the famous digital artist. The release is under the Decentral Eyes Portrait series and will be minted on the digital art marketplace SuperRare.
The portrait is created using ten images from Snoop Dogg’s life to portray the legend’s effect on the hip-hop industry. The NFT sale is going to be live for sale between November 29 and December 3. As of now, the highest bid of the Snoop Dogg NFT is 169 ETH, valued at around $747,127.
Before this, DJ Paul Oakenfold also launched his new album as an NFT on the Cardano blockchain.
Indonesia to ‘Combat’ Crypto?
The Central bank of Indonesia is planning to bring a digital rupiah as a crypto competitor. As per a senior official, the actions are a result of the country’s thoughts on issuing such a tender.
The assistant governor of the Central bank Juda Agung, during the parliamentary session, said that the digital currencies are traded in parallel with commodity futures. Despite these having a significant influence on the economy, the assets are controlled by the trade ministry of the country.
The market made many investors happy by surging many tokens today, with Shiba Inu being the star of the show. We can expect a good start with December after the recent correction. TheCoinRise will be back with another daily roundup tomorrow.