Ethereum
Bitcoin, Binance, Ethereum, Solana and Ripple: The biggest crypto news of the past week
2:00 p.m. ▪ 4 min read ▪ by Luc Jose A.
Between groundbreaking announcements, technological advances, and regulatory turbulence, the crypto ecosystem continues to prove that it is both a territory of limitless innovation and a field of regulatory and economic battles. Here is a summary of the most significant news from the past week around Bitcoin, Ethereum, Binance, Solana, and Ripple.
Assassination attempt against Trump: Bitcoin soars
Last Saturday, an assassination attempt against Donald Trump during a rally in Pennsylvania shook the political and financial scene. The shooter, Thomas Matthew Crooks, was neutralized after wounding Trump in the ear. This attack triggered an immediate reaction in crypto markets, with the price of Bitcoin rising 5.5% to $62,450. Donald Trump’s support for the cryptocurrency industry stands in stark contrast to that of his opponent Joe Biden, who has bolstered investor confidence in a potential pro-crypto administration. Bitcoin’s rise has been followed by other cryptocurrencies like Ethereum and Solana, driven by public support from influential figures like Elon Musk.
XRP Takes Another Step Towards Institutional Recognition
Ripple has taken a crucial step in integrating XRP into the institutional market with the announcement by the Chicago Mercantile Exchange (CME) to launch real-time price indices for the crypto. The move, backed by Ripple CEO Brad Garlinghouse, marks a significant step forward for XRP and provides institutional investors with reliable and accurate price references. The launch of these indices by CME, in partnership with CF Benchmarks, includes continuous updates based on the activities of major trading platforms such as Coinbase and Kraken. This could pave the way for future developments such as an XRP-based ETF, further strengthening its position in the traditional financial market.
Bitcoin joins French retirement savings plans
Bitcoin made a notable entry into Retirement Savings Plans (PER) via an innovative partnership between VanEck Europe and Inter Invest. This partnership introduces a Bitcoin ETN, allowing French savers to diversify their portfolios with the leading crypto. This ETN, backed by real bitcoins and held by a regulated custodian, ensures secure and controlled exposure to this emerging asset class. Jean-Baptiste de Pascal, Deputy CEO of Inter Invest, underlines that this initiative is part of a strategy to democratize innovative financial assets. Martijn Rozemuller, CEO of VanEck Europe, adds that while Bitcoin is currently volatile, it represents an innovative asset in the long term. This integration of Bitcoin into the PER opens up new opportunities for savers while modernizing the retirement savings sector in France and meeting the expectations of investors seeking diversification.
USDT surpasses Bitcoin, Ethereum and Solana in trading volume
Tether (USDT) recently reached daily transaction volume exceeding $55 billionoutperforming Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and Solana (SOL) combined. This performance underscores the growing role of stablecoins in the crypto ecosystem, especially during periods of high volatility. The increased demand for more stable assets like USDT, coupled with its growing use in trading, is behind this trend. The increased liquidity provided by USDT boosts investor confidence and stabilizes trading. The outlook for USDT and stablecoins, in general, is promising but depends on regulatory developments and market adoption.
That’s the main takeaway from this week. But if you’d like a more detailed summary and in-depth analysis delivered straight to your inbox, feel free to Subscribe to our weekly newsletter.
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Luc José 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 constantly 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 current events, decipher market trends, relay the latest technological innovations and put into perspective the economic and societal challenges of this ongoing revolution.
DISCLAIMER
The views, thoughts and opinions expressed in this article are solely those of the author and should not be considered investment advice. Do your own research before making any investment decision.