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Bitcoin, Binance, Ethereum, Solana, and Ripple: The Biggest Crypto News of the Last Week
2.00pm ▪ 4 min read ▪ by Luc Jose A.
Between game-changing announcements, technological developments, and regulatory turmoil, the cryptocurrency ecosystem continues to prove itself to be both a boundless territory of innovation and a battleground of regulatory and economic battles. Here’s a recap of the last week’s biggest news stories from Bitcoin, Ethereum, Binance, Solana, and Ripple.
Bitcoin Surpasses Visa and Mastercard in Transaction Volume
Bitcoin has reached a historic milestone surpassing Visa and Mastercard in terms of daily transaction volume. According to Glassnode data, the leading cryptocurrency recorded a volume of $46.4 billion, compared to $6.5 billion in filtered economic transactions. This surge is due to growing adoption and innovations such as the Runes protocol. With a market cap of around $1.3 trillion, Bitcoin is redefining traditional payment systems.
Binance can invest in US Treasuries
Binance, the world’s leading cryptocurrency exchange has received approval to invest customer funds in US Treasury bonds. This strategic decision allows the company to diversify investment options for its users. It offers greater security and stability than more volatile cryptocurrencies. The announcement also led to a significant increase in the price of Binance Coin (BNB). This reflects investor confidence in Binance’s management of funds and paves the way for similar initiatives.
JD Vance: Trump’s Pro-Bitcoin Running Mate for 2024
Donald Trump chose Ohio Senator JD Vance as his running mate for the 2024 presidential election. Vance, known for his support of cryptocurrency, holds between $100,000 and $250,000 in Bitcoin and advocates for a crypto-friendly legislative framework. The appointment is intended to appeal to a crypto-loving electorate and marks a pro-crypto shift for Trump, who now accepts crypto donations for his campaign.
Ethereum ETF to hit the market on July 23
The long-awaited launch of the first spot Ethereum ETFs is scheduled for July 23, 2024, according to a recent confirmation from the Chicago Board Options Exchange (Cboe). Listed funds include the 21Shares Core Ethereum ETF (CETH) and the Fidelity Ethereum Fund (FETH). These ETFs offer a regulated and secure option to invest in Ethereum. They could attract more institutional investors and strengthen the legitimacy of the cryptocurrency market.
Whale Trades Destabilize XRP Price
Recent Massive XRP Transactions whales have caused significant volatility in the token’s price. After accumulating more than 130 million, these investors managed to push the price of XRP to 63 cents. However, the cryptocurrency’s price then fell by 8% to around 55.8 cents. The significant movements of these large holders demonstrate their direct impact on the market and the difficulty in maintaining price stability in the short term.
Here are the essential things to remember for this week. But if you want a more detailed summary and in-depth analysis delivered straight to your inbox, feel free to Sign up for our weekly newsletter.
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Luke Jose A.
A graduate of Sciences Po Toulouse and holder of a 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 am committed to raising awareness and informing the general public about this ever-evolving ecosystem. My goal is to enable everyone to better understand blockchain and seize the opportunities it offers. Every day, I strive to provide an objective analysis of the news, decipher market trends, convey the latest technological innovations and put into perspective the economic and social issues of this ongoing revolution.
DISCLAIMER
The views, thoughts and opinions expressed in this article are solely those of the author and should not be construed as investment advice. Do your own research before making any investment decisions.