Welcome to XEROF’s weekly newsletter. In this edition, our European research desk reports on the week’s most significant updates in the digital currency and luxury real estate sectors.
Here are our featured cryptoasset news pieces this week:
- Bitcoin's Impressive Rally: $26,000 and Beyond
- AXS Token Gains 20% Amidst Growing Number of Unique Wallet Holders
- Rival Telegram Implements Cryptoasset Wallet
We also feature the latest developments in high-end living, including:
- Houston's Million-Dollar Home Market: August Sales Soar 20%
- Global HNWIs Set to Invest $2.5 Billion in Dubai Property Market
- Fendi, Missoni, and More: Miami's Luxury Condo Scene Expands
Bitcoin's Impressive Rally: $26,000 and Beyond
Bitcoin's breach of the $26,000 mark has sparked speculation among investors regarding its next moves. On Sunday, Bitcoin's price stood at $26,584, accompanied by a 24-hour trading volume of $12.6 billion, resulting in a 1.25% growth within a day. XEROF finds that Bitcoin displays a moderately bullish sentiment by hovering just above the $26,000 resistance level and maintaining stability close to the double-top resistance at $26,500.
AXS Token Gains 20% Amidst Growing Number of Unique Wallet Holders
On Friday, Axie Infinity (AXS) traded at approximately €4.50, marking an 11% surge within 24 hours. The altcoin's ascent rallied after a 21% intra-day increase. Additionally, XEROF reports a rapid 77% surge in unique active wallets within the DeFi application in a single day; this could be a factor that encouraged AXS holders to adopt a bullish stance, leading to the price increase.
WhatsApp Rival Telegram Implements Cryptoasset Wallet
Telegram has unveiled an integrated cryptoasset wallet feature, allowing users to manage their digital currency holdings. Those who have previously interacted with the wallet bot will notice a new dedicated wallet section within their Telegram menu. The revelation came amidst the TOKEN2049 conference, where the TON Foundation and Telegram publicly announced their partnership. Starting in November, TON Space will be available to Telegram’s global users without wallet registration. XEROF comments that the self-custodial wallet has excluded certain jurisdictions for now, including the US.
Luxury Real Estate News
Houston's Million-Dollar Home Market: August Sales Soar 20%
Home sales dipped in all price brackets in Houston in August except those exceeding $1 million. The luxury home sector, accounting for 3.7% of the market with nearly 300 sales citywide, witnessed a remarkable 20% increase. The Spring Branch area experienced the most significant surge in million-dollar home sales, jumping from two in August 2022 to 12 in August 2023.
Global HNWIs Set to Invest $2.5 Billion in Dubai Property Market
According to a recent Knight Frank report, Dubai led the world in residential sales, exceeding $10 million in Q2 2023, propelled by surging luxury home demand. The report revealed that globally, high-net-worth individuals (HNWIs) intend to invest $2.5 billion in Dubai's property market this year. In addition, 22% of these HNWIs plan to allocate $5 million to $10 million for real estate in the emirate, while 8% are ready to invest over $80 million.
Fendi, Missoni, and More: Miami's Luxury Condo Scene Expands
Knight Frank's latest report on luxury condos predicts a steady 12% annual growth in the market until 2026. Miami is the focal point for crossover luxury branded real estate featuring renowned names such as Porsche, Bentley, Armani, and Aston Martin. Additionally, the city boasts the Fendi Chateau, a 58-unit building situated between Miami Beach and Sunny Isles in Surfside, as well as the Missoni Baia residences, comprising 249 units with one to five bedrooms, located on a vibrant, resort-style campus overlooking Biscayne Bay.
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