The DeFi sector shaken by massive fund outflows! Leading to massive sales and a drop in crypto prices!
Amid revolutionary announcements, technological developments, and regulatory turbulence, the crypto ecosystem continues to prove that it is both a realm of limitless innovations and a battleground for regulatory and economic battles. Here is a summary of the most notable news from the past week surrounding Bitcoin, Ethereum, Binance, Solana, and Ripple.
The crypto market has just experienced a spectacular drop, losing nearly 500 billion dollars in just three days. This plunge, the largest in a year, comes in the context of weak employment data and recession fears. Let's dive into the reasons and consequences of this brutal crash.
Bitcoin consolidates its dominant position in the cryptocurrency market, reaching 58% market share, while financial markets undergo a severe correction. This increase in dominance comes amid a context of high volatility and risk aversion among investors.
The regulation of cryptocurrencies in France has taken a significant new step. Indeed, the French regulator, the Financial Markets Authority (AMF), has begun accepting applications from service providers on crypto assets. This initiative precedes the implementation of the European Union (EU) rules on crypto asset markets (MiCA).
Elon Musk shares a coded message on X (Twitter), sparking speculation about his accumulation of Bitcoin!
The price of Ethereum, the second cryptocurrency in the world, has experienced a sharp decline in recent days. Experts point to a phenomenon of investor capitulation, amplified by macroeconomic factors.
On August 5th will go down in Asian financial history as a day of turmoil. Following the Wall Street earthquake, Asian stock markets followed suit, plunging into an abyss of losses. The Nikkei, the flagship index of the Tokyo Stock Exchange, fell by 12.4%, closing at 31,458.42 points. This dizzying plunge comes after a significant 5.8% decline the previous Friday, marking one of the darkest weeks for Asian financial markets.
Freefall for Bitcoin and Ethereum: blame it on Japanese interest rates. Other economic events could worsen the situation.
BlackRock, Fidelity, Grayscale, and MicroStrategy maintain their positions despite crypto market volatility!