This Week in Crypto 11/28/22

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In RockItCoin’s effort to empower individuals in the cryptocurrency space, we have extracted top industry stories for your Weekly Digest. Cryptocurrency continues to dominate the news and here are some key happenings you should know.

Number of Bitcoin Wallet Addresses With at Least 1 BTC Nears 1 Million
The number of Bitcoin wallet addresses holding at least one BTC has risen to almost 1 million, amid rising concerns of keeping bitcoin on centralized exchanges. Data from blockchain analytics studio Glassnode shows the number to be around 950,000 following a large increase in the last month. Additionally, with market prices being relatively low, people are looking to accumulate bitcoin in the hopes of becoming a “whole-coiner”, or someone who owns an entire bitcoin. While mainstream news coverage may repeat “bitcoin is dead” once again, it’s important to remember that the value of bitcoin isn’t always the price, it’s the technology!

Number of BTC Wallets Addresses with Balance >1

Litecoin Experiences Bullish Spike of 43% to 6-Month High
Popular cryptocurrency Litecoin (LTC) has seen a remarkable rally despite the bear market. In the last month, the coin has risen over 43% from $55 to $79, with much of the increase in the past week. The rally is quite unprecedented, as the market has been down for months, and the collapse of FTX pushed prices even lower. Some have mentioned that the crypto’s halving is set to occur in approximately eight months, so people are looking to buy before the mining reward is cut in half, reducing the amount of LTC released into the blockchain.

Former FTX CEO Sam Bankman-Fried to Speak at Conference, Despite Investigation
The crypto community has been expressing their outrage with former FTX CEO Sam Bankman-Fried, after his announcement of speaking at a New York Times conference on Nov. 30th. The celebrity CEO, who is now largely blamed for the loss of $11 billion in FTX’s bankruptcy, is slated to speak among NYC mayor Eric Adams, Actor Ben Affleck, and RedBird Capital Partners Founder Gerry Cardinale. Crypto Twitter responded with fury, completely taken back by the fact that SBF is able to seemingly roam free and publicly speak. The New York Times has said that SBF will most likely be participating remotely from the Bahamas, where he awaits investigation by the U.S. Department of Justice.