Bitcoin, Binance, Ethereum, Solana and Ripple: The biggest crypto news of the past week
With its disruptive announcements, technological advancements, and regulatory upheaval, the cryptocurrency landscape keeps demonstrating that it is a place of boundless creativity as well as a battleground for laws and policies.
The most important stories from the previous week pertaining to Bitcoin, Ethereum, Binance and Solana, and Ripple are outlined below.
In terms of daily transaction volume, Bitcoin has surpassed both Visa and Mastercard, marking a significant historical milestone. The flagship cryptocurrency asset registered a volume of $46.4 billion, according to Glassnode data, while filtered economic transactions recorded a volume of $6.5 billion.
Growing usage and developments like the Runes protocol are the main causes of this upsurge. With a roughly $1.3 trillion market capitalization, bitcoin is revolutionising conventional payment methods.
The top cryptocurrency exchange in the world, Binance, has received permission to invest client money in US Treasury bonds. By diversifying its investment alternatives, the company is able to provide its users a higher level of security and stability in comparison to more volatile cryptocurrency assets. This is a calculated strategic decision.
The price of Binance Coin (BNB) has also significantly increased as a result of the announcement. This indicates the trust that investors have in Binance's money management and opens the door for more projects along these lines.
Senator JD Vance of Ohio has been selected by Donald Trump to be his running partner in the 2024 presidential contest. Vance, who is well-known for his support of cryptocurrencies, has been advocating for a legislative framework that is favourable to them and he currently owns between $100,000 and $250,000 in Bitcoin.
The move is a pro-crypto turnabout for Trump, who is now taking bitcoin contributions for his campaign in an effort to court supporters who are passionate about cryptocurrencies.
The much-anticipated debut of the first Ethereum spot ETFs is scheduled for July 23, 2024, the Chicago Board Options Exchange (Cboe) has confirmed. The Fidelity Ethereum Fund (FETH) and the 21Shares Core Ethereum ETF (CETH) are two of the listed funds.
An regulated and safe way to invest in Ethereum is through these ETFs. They might draw in more institutional money and bolster the cryptocurrency market's legitimacy.
Whales' recent large-scale XRP transactions have significantly increased the token's volatility. With a total of more than 130 million, these investors succeeded in driving up the price of XRP to 63 cents. But after that, the value of the cryptocurrency asset dropped by 8% to about 55.8 cents.
These noteworthy changes by major holdings show how directly they affect the market and how challenging it is to keep prices stable in the near term.