December 8, 2023
5 min read

CryptoSpend Roundup - Weekly Newsletter (8 Dec 2023)

Author
Kevin J. Balighot

Welcome to the 2nd edition of CryptoSpend Roundup, your trusted newsletter for the latest, up-to-date and insightful crypto news. As the crypto landscape continues to evolve at a rapid pace, our mission is to keep you informed about some of the latest developments, market trends, and opportunities.

Before we get into the news, here's the current market prices for our listed currencies:

With that out of the way, grab a snack, get comfortable, and...

Let's go!

Bitcoin Rally Halts while Ether and Solana Surge: Ether and Solana have hit 19-month highs, while Bitcoin's rally pauses at $43,000. This halt in Bitcoin's rise brings Ether and Solana into the spotlight, with Ether reaching $2,372 and Solana peaking at $69, both their highest since May 2022. The surge in Ether also lifted the prices of other ETH-adjacent cryptocurrencies, while Solana's rise comes despite its association with the troubled FTX and multiple outages in 2022​​. Full article.

Solana's Astounding Recovery: Despite its close ties with FTX and experiencing numerous outages, Solana's native token SOL has soared by over 500% this year. Anatoly Yakovenko, Solana’s co-founder, credits the blockchain's recovery to the technological improvements and the discipline imposed by FTX's collapse, indicating a strengthened Solana ecosystem​​. Full article.

PayPal's Stablecoin Ambitions: PayPal plans to issue its own dollar-backed stablecoin, PYUSD, leveraging its vast customer base and global presence. Jose Fernandez da Ponte, the visionary behind this initiative, highlights the benefits of stablecoins in terms of cost, programmability, and speed. PayPal aims to bring crypto technology mainstream, offering faster, more useful internet-based payments worldwide​​​​. Full article.

Société Générale's Euro-Pegged Stablecoin: France’s third-largest bank, Société Générale, has launched its own euro-pegged stablecoin, EURCV. This move marks one of the first forays by a major European bank into the stablecoin market. EURCV is aimed at facilitating transactions in digital bonds, funds, and various assets, expanding the stablecoin's utility beyond Société Générale's platform​​. Full article.

Bitcoin Halving and Its Implications: The next Bitcoin halving, scheduled for April, is generating buzz, especially among investors. Post-halving, miners will receive half the current reward per block, affecting Bitcoin's supply and potentially its price. Historically, halvings have led to significant price surges, and many in the industry anticipate a bullish effect on Bitcoin's price, though opinions vary on the extent of this impact​​. Full article.

And that's a wrap!

This week's crypto landscape has been dynamic, marked by notable rallies in Ether and Solana, significant strides in stablecoin initiatives by major financial players, and the ever-growing anticipation of the Bitcoin halving.

These developments showcase the resilience and continual evolution of the cryptocurrency world, offering exciting prospects for investors and enthusiasts alike.

That's all for this week's edition of CryptoSpend Roundup. We hope you found the information valuable and that it helps you stay ahead in the ever-changing crypto landscape.

If you have any suggestions or feedback for us, please feel free to reach out to our team :)

Happy CryptoSpending!

**All information in this article is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained herein shall constitute a solicitation, recommendation, endorsement, or offer by CryptoSpend to invest, buy, or sell any coins, tokens, or other crypto assets. Any descriptions of CryptoSpend products or features are merely for illustrative purposes. Past performance is not a guarantee or predictor of future performance. The value of crypto assets can increase or decrease, and you could lose all or a substantial amount of your purchase price. It is essential for you to do your research and due diligence to make the best possible judgement, as any purchases shall be your sole responsibility.

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