Market Snapshot: Your Midweek Momentum Report

What Is A Bitcoin Extractor And How Do Cybercrime Units Use It

Key Takeaways:

  • Top Performers:
    • BAT: Increased by 7.52%
    • APE: Gained 7.00%
    • SUSHI: Recorded a rise of 6.94%
  • Assets Showing Declines:
    • CRV: Experienced a 4.49% decrease
    • 1INCH: Saw a decline of 3.38%
    • RNDR: Declined by 3.37%
  • Market Momentum:
    • BTC holds above $37,000 USD.
    • BTC traded between $36,800 USD and $38,400 USD.
    • BTC grew around 9.2% in one month, while ETH surged by 12.97%.
    • November proves bullish, signaling optimism for the remainder of 2023.
  • Bitcoin Trends:
    • 74% of BTC addresses hold less than 0.01 BTC.
    • Increasing trend of investors buying and holding BTC.
  • Regulatory Shifts:
    • Binance discontinues BUSD support by December 15th.
    • Paxos stops BUSD minting due to NYDFS scrutiny.
    • Canadian CEXs restricted from trading USDT, leading USDC to dominate.
    • Expectations for further developments in stablecoin regulations.


Your Midweek Momentum Report

During another exciting week in the crypto market, a few altcoin frontrunners have showcased substantial gains. AXS, BAT, and MANA have notably attracted attention for their impressive performances.

AXS ↑ 9.04%

BAT ↑ 8.41%
MANA ↑ 8.18%

This week witnessed some downward trends among certain assets. CRV, 1INCH, and RNDR have observed modest declines over the past 7 days.

CRV ↓ 6.50%
RNDR ↓ 3.27%
1INCH ↓ 2.28%

All three top cryptocurrencies by market cap encountered declines this week. BTC decreased by 0.33%, ETH faced a decline of 3.04%, while XRP also dropped by 0.73% over the past 7 days.

How have these fluctuations impacted your portfolio in this dynamic crypto landscape?


OTC Desk Insights

The momentum in the crypto markets remains strong this week, with BTC maintaining its position above the $37,000 USD level, trading within a range from $36,800 USD to $38,400 USD during the first part of the week. Reviewing the one-month chart, BTC shows a growth of roughly 9.2%, while ETH exhibits a 12.97% increase for the month. November has proven bullish for the crypto market, signalling a positive trend with one month remaining in 2023.

Recent on-chain data reveals that a significant majority of Bitcoin holders are small investors, with around 74% of BTC addresses holding less than 0.01 BTC. My take on this suggests an increasing trend of investors entering the market to buy and hold BTC.

In a recent report from Coindesk, Binance announced the discontinuation of BUSD support by December 15th. The move was previously anticipated, as they had indicated this plan earlier in the year. Paxos, the stablecoin issuer, was instructed to halt BUSD minting following regulatory scrutiny from the New York Department of Financial Services (NYDFS). There’s a noticeable trend of regulatory scrutiny on stablecoins; currently, no Canadian CEXs can trade Tether (USDT), making Circle (USDC) the dominant stablecoin in Canada. Expect further developments in stablecoin regulations in the upcoming months.

Happy Trading,

Andrew Bulman
Head of Sales & OTC Trading
[email protected]

Netcoins User Testimonials


Clint U
Clint U
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Natalie Tavangari
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Martin Mobile
Martin Mobile
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Yvonne St-Louis
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Newman Obossou
Newman Obossou
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Saeed Eghbal
Saeed Eghbal
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Ian Davenport
Ian Davenport
Although I very rarely leave reviews good/bad this one I felt needed too! I have found previously applying to sites frustrating especially when you get into verification processes etc. so several times today I called to verify because "big surprise" I was uncertain of a certain task that needed to be completed and I didn't want to make a mistake and hold my verification up . Customer service was probably the best I have ever encountered , knowledgeable, prompt, friendly and just overall really helpful ; no bouncing you from dept. to another dept. no endless prompts" for this problem press 1" all the way thru to "for this problem press 9" , no "were experiencing higher than usual calls your expected wait time is 90 minutes". I'm new to crypto; but knowing that the help I received today is less than 5 minutes away if needed , made this experience awesome .

Written by: John Pawlak

Cryptocurrency expert, content marketing at Netcoins.

John has been mining cryptocurrency as a hobby since 2015, from securing thousands of dogecoin, to minting NFT’s, John has been in the thick of cryptocurrency for many years.



The information provided in the blog posts on this platform is for educational purposes only. It is not intended to be financial advice or a recommendation to buy, sell, or hold any cryptocurrency. Always do your own research and consult with a professional financial advisor before making any investment decisions.

Cryptocurrency investments carry a high degree of risk, including the risk of total loss. The blog posts on this platform are not investment advice and do not guarantee any returns. Any action you take based on the information on our platform is strictly at your own risk.

The content of our blog posts reflects the authors’ opinions based on their personal experiences and research. However, the rapidly changing and volatile nature of the cryptocurrency market means that the information and opinions presented may quickly become outdated or irrelevant. Always verify the current state of the market before making any decisions.


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