Forbes - Diamond hands 💎

CryptoCodex


	Happy Friday! This is Billy Bambrough with the latest news from crypto-land and what to look out for over the weekend.


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24-hour crypto market snapshot

$64,185

$4,634

$46.21

$0.00005289

Where next? 🤔


	Cryptocurrency prices are sinking further this morning, with the momentum evaporating from the market after U.S. inflation data spooked investors. All major cryptocurrencies are trading lower, with bitcoin, ethereum, Binance's BNB, cardano, solana, XRP, polkadot and dogecoin off by between 1% and 5%. A sole climber is "dogecoin killer" shiba inu, which is up 4% and again closing the gap on its memecoin rival. As well as a decision expected from the U.S. Securities and Exchange Commission (SEC) in the next few days over whether a fully-fledged bitcoin exchange-traded fund will be given the nod, traders are also eyeing the bitcoin taproot upgrade, due to be deployed over the weekend or early next week. The upgrade is the largest bitcoin upgrade since SegWit in 2017 and is expected to add various improvements to the bitcoin network. Now read this: Need an Inflation Hedge? Bitcoin Has Delivered 99.996% Deflation

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🇮🇳 Lobbying India lawmakers


	Crypto convene: Some of India's biggest cryptocurrency companies will sit down with lawmakers in India on Monday in an attempt to thaw the country's relationship with crypto, it was first reported by Business Insider. Why it matters: Earlier this year, the government in India looked set to introduce legislation to outright ban crypto and while plans have since appeared to soften the country remains hostile to the crypto industry. The popularity of the scam Squid Game-inspired cryptocurrency in the country recently sparked calls for a further crackdown on crypto trading in India, which is fast catching up to China as the world's most populous country. Who's going: Binance-owned crypto exchange WazirX, CoinSwitch Kuber and CoinDCX, were named as among the invitees, who will meet with India’s Parliamentary Standing Committee on Finance. The bottom line: India is too big to be ignored and the crypto industry will be looking to make it as easy as possible for its 1.4 billion people to buy, trade and develop crypto. Now read this: ‘Probably nothing’—why people still hate crypto

Binance freezes doge withdrawals 🐶



	Binance blamed the error on an upgrade SOPA Images/LightRocket via Getty Images

🙅 Binance, the world's biggest cryptocurrency exchange by volume, yesterday suspended dogecoin withdrawals following an upgrade that users had claimed resulted in dogecoin being erroneously credited to their account.

"We discovered a minor issue with doge network withdrawals on Binance after carrying out a version update on 2021-11-10,” Binance said in a post without specifying what the "minor issue" was. "As a result, we have temporarily suspended doge network withdrawals until this issue is resolved. Binance is actively working with the doge project team to resolve the issue."

🔒 According to a Coindesk report, Binance initiated the withdrawal of dogecoin without their consent, and is now asking these users to return the dogecoin that they do not currently have in their Binance accounts.

🎥 Meanwhile, dogecoin is definitely coming to AMC, after the movie theater chain chief executive announced it now accepts bitcoin, ether and some other cryptocurrencies for online payments—with "dogecoin next."

Now read this: $76 billion a day—how Binance became the world's biggest crypto exchange

Bitcoin exchange supply shrinks 💱


	📄 Investors are increasingly pulling their bitcoin from exchanges, according to Glassnode data which found just 12.9% of the circulating bitcoin supply, or roughly $163 billion, is currently sitting on trading platforms. ✍️ It's thought this is a sign the bitcoin price could continue to climb as demand outpaces supply. Analysts wrote that "despite hovering just below all-time highs, on-chain activity remains only marginally above bear market levels." 👐 The trend of moving bitcoin into storage for long-term holding, called having "diamond hands" by the crypto community, began in August after the bitcoin price soared back following a summer slump.

	Billy Bambrough
	Forbes Senior Contributor

I am a journalist with significant experience covering technology, finance, economics, and business. I write about how bitcoin, crypto and blockchain can change the world.

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