RLUSD, XLM Surge, FIFA NFT game

This week’s crypto calendar is packed with major events and bullish stories, including the possible approval of Ripple’s stablecoin, Trust and FIFA’s new NFT game.

Additionally, Binance has removed eight altcoin trading pairs from its spot market, while MicroStrategy plans to add more Bitcoin to its portfolio. Here are this week’s top crypto news:

Grayscale Filing Increases Stellar Lumen (XLM) Price by 58%

Stellar Lumens (XLM) rose 58% this week to hit $0.53 – its highest price since 2021. This sharp rise follows a 10-K filing from Grayscale Investments for its Stellar Lumens Trust. The Nov. 23 filing listed a 10% growth in the trust’s net assets over the last fiscal year.

A 10-K filing provides detailed financial information and risk factors for publicly traded companies. The positive sentiment surrounding the filing likely fueled the strong market reaction for XLM.

“Stellar recently broke and closed above key weekly horizontal resistance. Retesting the broken structure, price broke the resistance line of a falling wedge pattern on a 4-hour time frame. This indicates strong upside potential and a move that is most likely imminent. I expect growth of at least 0.6,” wrote popular crypto enthusiast Andrew Griffiths on X (formerly Twitter).

Approval of the Ripple stablecoin is expected by December 4th

Ripple is preparing to launch its regulated stablecoin RLUSD, subject to approval from the New York Department of Financial Services (NYDFS). As BeInCrypto reported, the stablecoin is expected to launch on December 4th, marking Ripple’s entry into New York’s regulated digital financial market.

This move puts Ripple in direct competition with stablecoin issuers such as Circle and Paxos. Partnerships with platforms such as Bitstamp and Moonpay aim to ensure widespread accessibility for RLUSD users.

Meanwhile, Ripple’s XRP token surpassed BNB’s market cap and crossed the $100 billion mark for the first time in three years. The value of XRP has risen over 230% this month due to growing investor optimism.

Binance removes eight altcoin trading pairs

Another top crypto news this week is that Binance has announced plans to delist eight altcoin trading pairs on December 10th. These include GFT/USDT, IRIS/BTC, IRIS/USDT, KEY/USDT, OAX/BTC, OAX/USDT, REN/BTC and REN/USDT. The exchange cited regular performance reviews and low liquidity as reasons for the delistings.

Prices of affected tokens, including GFT and OAX, fell nearly 30% following the announcement, reflecting investor concerns about their future viability. Binance recommends users adjust their holdings before the removal date.

MicroStrategy plans to buy Bitcoin with $3 billion in funding

MicroStrategy co-founder Michael Saylor hinted at new Bitcoin acquisitions after the company secured $3 billion through convertible notes on November 22. The notes, which will be offered privately to institutional investors, mature in 2029 and have a premium exercise price of $672 per share.

Meanwhile, MicroStrategy remains the largest corporate Bitcoin holder. The company currently holds 386,700 BTC, worth over $37.5 billion. Saylor’s comments suggest that the company could continue its aggressive Bitcoin strategy.

As BeInCrypto reported, FIFA has partnered with Mythical Games to develop FIFA Rivals, a mobile soccer game expected to launch in mid-2025. Players can create and manage football clubs and participate in real-time games.

“FIFA Rivals is designed to be easily accessible and offer a short learning curve, coupled with advanced features for hardcore players to explore. The partnerships we have with both the NFL and FIFA should open the door for further collaborations between Web3 game studios and major sports titles,” Mythical Games spokesperson Nate Nesbitt told BeInCrypto.

The game will feature an NFT marketplace that allows players to trade soccer stars as digital collectibles. Mythical Games wants to replicate the success of its NFL Rivals title by integrating NFTs into FIFA Rivals.

Chirp introduces the DePIN play-to-earn game

Chirp, which operates on the Sui blockchain, has launched Kage, a play-to-earn game that combines entertainment with real-world utility. Players use their smartphones to discover nearby wireless networks and earn CHIRP tokens for their activity.

As the first game to integrate DePIN (Decentralized Physical Infrastructure Networks), Kage highlights the growing trend towards blockchain-based P2E models that offer real-world applications.

Finally, all eyes will be on Bitcoin as it remains within striking distance of the $100,000 mark. Despite the brief corrections, BTC was consistently hovering around $97,000. It will be interesting to see BTC finally hit six figures before Christmas. These were the top crypto news this week.