Missed this week’s news? Here’s a roundup of information you shouldn’t miss about Bitcoin, Binance, Ethereum, and Ripple!
12:00 p.m
6
min reading ▪ acc
Between groundbreaking announcements, technological developments, and regulatory turbulence, the crypto ecosystem continues to prove itself to be a land of limitless innovation and a field of regulatory and economic battlegrounds. Here’s a roundup of the most notable news from the past week on Bitcoin, Ethereum, Binance and Solana, and Ripple.
Bitcoin ETFs continue their growth with an all-time high
Bitcoin ETFs are hitting new highs, crossing the $20 billion mark in cumulative net flows, an all-time high for these cryptocurrency-based investment products. In one week, these funds saw an injection of $1.5 billion, bringing total assets under management to $65 billion.
While players like BlackRock saw their ETFs (IBIT) attract $22.46 billion, others like Grayscale GBTC saw massive outflows of $20.14 billion. This momentum highlights the growing interest in Bitcoin, despite significant fluctuations in capital flows, and reflects renewed investor confidence supported by favorable macroeconomic conditions and political trends.
🔗 Read the entire article here
1 million Ethereum validators in 2024: Growing interest from large companies
The Ethereum network has seen impressive growth in the number of validators, surpassing one million for the first time in June 2024. In one year, the number of validators increased by more than 30%, from 824,300 in September 2023 to 1,071,590. This development is a symbol of the growing interest of large companies and financial institutions in Ethereum, especially for its use for smart contracts and decentralized applications (dApps ). Innovations such as restake and liquid staking have also made the validation process more attractive and allowed participants to maximize their returns while strengthening network security.
This increase in the number of validators contributes to the decentralization of the network, its increased security and supports the transition to the Proof of Stake model. The outlook for the future looks promising, with an ever-increasing number of validators attracted by the institutional adoption and technological development of Ethereum 2.0.
🔗 Read the entire article here
Binance crushes the competition with an unprecedented record
Binance, the world’s largest crypto exchange, has reached a historic milestone by reaching $100 trillion in cumulative trading volume. This impressive figure covers both the spot and derivatives markets and cements Binance’s dominant position in the market, well ahead of competitors such as OKX ($24.9 trillion) and Bybit ($13.2 trillion).
At the same time, the performance of Bitcoin, whose price exceeded 68,000 dollars, also contributed to the current dynamics of the crypto market. While some assets like Solana and memecoins saw dramatic increases, other cryptocurrencies like Curve and Arbitrum saw significant declines.
🔗 Read the entire article here
Bitcoin on its way to $70,000
Bitcoin is nearing the key $70,000 mark after breaking above $68,000. Experts believe that if this barrier is breached, it could trigger another major bull run for the rest of 2024. The move comes after a long consolidation phase since March when Bitcoin peaked at $72,100. Technical indicators such as higher lows and advancing highs predict an imminent explosive move.
Renewed investor confidence combined with favorable macroeconomic factors reinforces this upward momentum. However, caution is advised as previous attempts to break this $70,000 mark have shown it to be difficult to break. If Bitcoin succeeds, it could mark a turning point for the crypto market at the end of the year.
🔗 Read the entire article here
The SEC is going all out against Ripple
The legal battle between the SEC and Ripple is taking a new turn with a last-minute appeal filed by the SEC. The appeal reignites the debate over the classification of XRP sales as securities, which has been central to the case since Judge Analisa Torres’ decision in July 2023. While the SEC no longer challenges retail sales of XRP, it does challenge institutional sales and non-cash transactions.
Meanwhile, Ripple has also filed a cross-appeal, saying the SEC’s attempt will fail. This legal episode could well define the future of cryptocurrency regulation in the United States. If the appeals court rules in favor of the SEC, it could impose stricter regulations on institutional sales of cryptocurrencies. Conversely, a victory in Ripple would be a major blow to the SEC and strengthen the position of crypto companies in their fight against excessive regulation.
🔗 Read the entire article here
That’s the main thing to remember this week. However, if you want a more detailed recap and in-depth analysis delivered straight to your inbox, be sure to subscribe to our weekly newsletter.
Maximize your Cointribune experience with our “Read and Earn” program! Earn points for every article you read and get access to exclusive rewards. Register now and start reaping the benefits.
A graduate of Sciences Po Toulouse and holder of the blockchain consultant certification issued by Alyra, I joined the Cointribune adventure in 2019. Convinced of the potential of blockchain to transform many sectors of the economy, I made a commitment to raise awareness and inform the general public about this ever-evolving ecosystem. My goal is to enable everyone to better understand blockchain and take advantage of the opportunities it offers. I strive every day to provide an objective analysis of current events, decipher market trends, convey the latest technological innovations, and put into perspective the economic and social issues of this ongoing revolution.
DISCLAIMER OF LIABILITY
The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.
