CoinSwitch Kuber becomes crypto unicorn, Bitcoin returns to a $1T
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.
Top Stories This Week
Indian crypto exchange CoinSwitch Kuber raises $260M
Indian crypto exchange CoinSwitch Kuber closed a $260 million Series C funding round this week at a valuation of $1.91 billion, adding itself to the prestigious unicorn club.
The funding round was led by Coinbase Ventures and Andreessen Horowitz, the latter of which has emerged as a leading crypto venture capital firm. Following the $1.91 billion valuation, CoinSwitch Kuber is said to be India’s most valued crypto firm.
Speaking of funding, Sky Mavis, the developers of the immensely popular NFT game Axie Infinity, announced a $152 million Series B funding round on Tuesday. Unsurprisingly, Andreessen Horowitz backed the funding round along with participation from FTX.
Ethereum fractal from 2017 that resulted in 7,000% gains for ETH appears again in 2021
The same set of bullish indicators that sent Ether (ETH) surging 7,000% in 2017 has appeared again in 2021, suggesting that the asset is on track to reach the moon before Dogecoin (DOGE).
The fractal indicator from 2017 consists of at least four technical patterns that were instrumental in pushing the price up, including the relative strength index (RSI), stochastic RSI, bullish hammer, and a Fibonacci retracement level.
At the time of writing, Ether is worth $3,600, indicating that the price could hit $13,000 if history repeats itself.
Federal High Court of Nigeria approves eNaira CBDC rollout
The Nigerian Federal High Court has approved the rollout of the eNaira central bank digital currency (CBDC).
The CBDC was launched for beta testing on the nation’s 61st Independence Day celebration on Oct. 1 and has now been given the green light to circulate alongside its fiat counterpart. The CBDC is being touted as a faster, cheaper and more secure option for transactions. It will also be supported by an eNaira wallet.
The official eNaira website says that the digital version of the Nigerian naira will be made available universally, stating that “anybody can hold it.”
Judge rejects XRP hodlers’ bid to join SEC against Ripple case as defendants
The ongoing legal dispute between Ripple Labs and the United States Securities and Exchange Commission (SEC) has taken another turn as U.S. District Judge Analisa Torres ruled on Monday that individuals holding XRP tokens cannot act in Ripple’s ongoing lawsuit as defendants.
The ruling came after several ambitious XRP hodlers aimed to file “friends of the court” briefs which, if granted, would enable them to join the bloody battle as defendants, alongside Ripple, against SEC assertions of XRP being a security.
The judge said the ruling was for their own good, as it would compel the trigger-happy SEC to take…
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