The crypto market remained under pressure last week after the Federal Reserve delivered a highly relatively hawkish interest rate decision. They also wavered even as the Securities and Exchange Commission (SEC) approved spot crypto ETFs like Solana, Hedera, and Litecoin.
This article looks at some key crypto news that will move the industry this week.
Ripple Swell Will be Deliver Key Crypto News
The first major crypto news of the week will be the upcoming Ripple Swell event in New York. This will be an important event bringing together senior Ripple executives and representatives from top companies like JPMorgan, BlackRock, CME, and Franklin Templeton.
These events are notable because companies tend to make major announcements in them. A potential notable one would be for BlackRock to announce an XRP ETF filing as its head of digital assets will be one of the speakers.
The event comes as Ripple has made some major announcements in the past few months. For example, it has made three major acquisitions, including Rail, Hidden Road, which is now known as Ripple Prime, and GTreasury.
READ MORE: Algorand Price Prediction as Transactions, Active Addresses Surge
BitWise XRP ETF Approval
Another potential crypto news of the week is the listing of the spot XRP ETF by Bitwise.
While the listing has not been confirmed, the company updated its filing to include the exchange (NYSE) and the fee, which will be 0.34%.
Eric Balchunas, the senior ETF strategist at Bloomberg noted this filing is one of the last boxes to tick. And based on the fact that the Bitwise Solana ETF has already started to trade, there is a likelihood that the XRP one will start to trade soon.
ADP Private Payrolls Data
The other notable crypto news to watch this week will come out on Wednesday when the ADP will publish the latest jobs report.
Economists polled by Reuters expect the data to show that the economy added 25,000 jobs in October after shedding 32,000 in the previous month.
This will be an important report because it will provide more color on the state of the economy. It will come a week after the Federal Reserve slashed interest rates by 0.25% for the second consecutive time.
Top Crypto Unlocks
The other key cryptocurrency news will be the unlocks of tokens worth millions of dollars.
Ethena will unlock tokens worth over $5.4 million tokens on Tuesday. These tokens are equivalent of 0.2% of the market capitalization
EigenLayer, the biggest player in the retaking industry, will unlock tokens worth over $1.1 million, equivalent to 0.29% of the supply.
The other top crypto unlocks this week will be Solayer, Flare, Stepn, and Aptos.
Sonic Mainnet Upgrade and Monad Airdrop Claims
Sonic, the crypto project launched by Andre Kronje, will have a mainnet launch on Monday. This is an important upgrade that will make it more compatible with Pectra.
Pectra introduced top features in the network, including enhanced scalability and layer-2 efficiency, account abstraction, and staking upgrades.
The other major crypto news will be opening of the Monad airdrop claims, an important process that will happen ahead of the official token listing and mainnet launch.
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