Crypto Scoop: BTC, alts reach new ATHs, AXA to accept bitcoin

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November, 8 2021

Crypto Scoop

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Bitcoin crosses $64k following Coinbase's public listing, ETH sets new ATH, DOGE gains over 80% and AXA to accept bitcoin.

Here are the updates for the week:

  • BTC reaches new ATH following Coinbase (COIN) public listing
  • ETH soars above $2,200 after Berlin hard fork
  • DOGE becomes 10th largest crypto market
  • AXA to accept bitcoin as payment

Bitcoin reaches new ATH against resistance

On Tuesday, bitcoin hit a new ATH at $63,729.5, soaring past the supposed $60,000 resistance. Following the public listing of cryptocurrency exchange Coinbase (COIN) on Wednesday, bitcoin gained more momentum and peaked at $64,854 on Binance Exchange.

As the hype around Coinbase’s listing began to die down, bitcoin price also retraced and has lost 2.38% within the last 24 hours as of 3:30 PM (UTC +1) on Friday, with price at $61,400.

Read Also: Crypto Scoop: Coinbase joins DeFi Alliance, BNB moons

Ether soars above $2,200 after Berlin hard fork

For the first time, after the much anticipated Berlin hard fork ethereum broke above $2,500. This upgrade would enable the ETH to participate in the much more rigid London fork, incorporating about four Ethereum Improvement Proposals (EIP). The ethereum rally had it outperforming bitcoin on Thursday as bitcoin hit as low as $61,322.67 (-2.44%)

DOGE becomes 10th largest crypto market as it hits new ATH

Dogecoin's market cap soared over 80% during the week, bringing it to about $33.32 billion. The popular meme currency experienced a surge in sales, trading about $0.26, a whopping 88% increase from its initial price. This new surge in its sales has earned its position as the tenth-largest crypto in market cap. Yet, this surge in sales and value could reflect its continuous endorsements by celebrities like Elon Musk, Gene Simmons, and Snoop Dog, among other notable celebrities.

AXA announces intentions to accept bitcoin as payment

On Thursday, AXA, the largest insurer in Switzerland, took to the news to announce its intentions of accepting bitcoin as payment. The firm noted that this privilege was provided to its private clients to use bitcoin as payment for only non-life products for regulatory reasons. It further stated that bitcoin payments would incur an extra charge of 1.75% and after payment would be converted to Swiss francs.

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