{"id":86926,"date":"2023-11-12T19:06:45","date_gmt":"2023-11-12T17:06:45","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=86926"},"modified":"2025-09-13T08:35:22","modified_gmt":"2025-09-13T05:35:22","slug":"week-in-review-bitcoin-nears-38000-as-binance-launches-a-crypto-wallet","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/week-in-review-bitcoin-nears-38000-as-binance-launches-a-crypto-wallet\/","title":{"rendered":"Week in review: Bitcoin nears $38,000 as Binance launches a crypto wallet"},"content":{"rendered":"

Bitcoin held around $37,000; Binance unveiled its own Web3<\/a>-wallet, a Moscow court fined Coinbase, and other events of the week just ended.<\/p>\n

Bitcoin nears $38,000<\/h2>\n

This week the price of the first cryptocurrency rose firmly above $35,000<\/a> again, and on Thursday, 9 November, approached the $38,000 mark<\/a>.<\/p>\n

On Binance, the rate at one point reached $37,972.<\/p>\n

BTCUSDT_2023-11-12_18-59-23
Data: TradingView<\/a>.<\/figcaption><\/figure>\n

By week\u2019s end, Bitcoin held above $37,000, and Ethereum \u2014 above the $2,000 level<\/a>.<\/p>\n

All top-10 assets by market capitalization ended the week in the green. The biggest gainers were Solana (+44.3%), Cardano (+14.7%), and Dogecoin (+12.8%).<\/p>\n

Week in review: Bitcoin nears $38 000, and Binance launches a crypto wallet
Data: CoinGecko<\/a>.<\/figcaption><\/figure>\n

The total market capitalization of cryptocurrencies reached $1.47 trillion. Bitcoin\u2019s dominance index stood at 49.3%.<\/p>\n

Binance launches its own crypto wallet<\/h2>\n

The cryptocurrency exchange Binance announced<\/a> the launch of a Web3-wallet, accessible to users through the platform\u2019s mobile app.<\/p>\n

The utility runs in the main Binance trading app and uses multi-party computation (MPC), which splits private keys into three parts and stores them on different servers.<\/p>\n

Two of them are tied to the user\u2019s account, while the third is held by the exchange. The encryption method reduces the risk of wallet compromise and lowers system vulnerability, the announcement said.<\/p>\n

Binance clarified that the app is not available to users in the United States.<\/p>\n

The documentation states that the wallet\u2019s terms of use are governed and construed in accordance with Hong Kong law. The company also complies with anti-money-laundering laws and intends to screen transactions for financing of terrorism, sanctions evasion, and suspicious activity, blocking undesired transfers.<\/p>\n

Trust Wallet launches Wallet-as-a-Service and names Binance its first client<\/h2>\n

The Binance-owned non-custodial wallet Trust Wallet introduced<\/a> the service Wallet-as-a-Service<\/span> (WaaS), which enables corporate clients to launch decentralized applications on the project\u2019s stack.<\/p>\n

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\u201cWaaS is designed for a broad audience: from Web3 users and centralized crypto exchanges to startups and traditional enterprises seeking to expand their offerings with blockchain solutions,\u201d the team explained.<\/p>\n<\/blockquote>\n

Among the advantages of the service are faster deployment of products and easier adoption of the technology, with improved navigation and security.<\/p>\n

As an implementation example of WaaS, representatives cited the Binance wallet.<\/p>\n

What to discuss with friends?<\/h2>\n