crypto for all
Join
A
A

Bitcoin, Binance, Ethereum, Solana And Ripple: The Biggest Crypto News From The Past Week

Mon 09 Dec 2024 ▪ 5 min read ▪ by Luc Jose A.
Getting informed Altcoins

Amid revolutionary announcements, technological evolutions, and regulatory turmoil, the crypto ecosystem continues to prove that it is both an unbounded territory of innovations and a field of regulatory and economic battles. Here’s a summary of the most significant news from the past week surrounding Bitcoin, Ethereum, Binance, Solana, and Ripple.

Bitcoin, Ethereum, Binance, and Ripple: The major news of the week you can't miss

Bitcoin crosses $100,000!

Bitcoin has reached a historic threshold of $100,000, symbolizing a major transition from a speculative asset to a true global economic force. This spectacular rise, marked by a 126% increase since January, is supported by an explosion of institutional investments, with over $31 billion injected via ETFs. The effect of the halving in April 2024 has amplified the asset’s scarcity, enhancing its appeal. Donald Trump’s victory and the appointment of pro-crypto figures to the SEC promise a more favorable regulatory framework, further catalyzing investor enthusiasm. Now, with a market capitalization of over $2 trillion, Bitcoin transcends its initial role to become a strategic pillar of the global economy. Despite this momentum, market volatility and uncertainties persist, leaving one question hanging: how far will it go?

🔗 Read the full article here

The SEC blocks Solana ETFs

The SEC has rejected several applications for spot ETFs based on Solana (SOL). At least two of the five affected issuers have been informed that their proposals would not be approved. This blockage reflects ongoing regulatory concerns and amplifies the challenges faced by digital assets in the United States. The arrival of Paul Atkins at the head of the SEC in 2025 is seen as a hope for a more favorable regulatory approach and a revival of crypto ETF initiatives.

🔗 Read the full article here

Paul Atkins at the SEC: A new era for cryptos?

Paul Atkins’s appointment as head of the SEC by Donald Trump marks a critical turning point for the crypto sector in the United States. Atkins, known for his pro-innovation stance and advocacy for a balanced regulatory framework, succeeds Gary Gensler, whose restrictive policies generated strong opposition. His arrival comes after a period of heightened tensions marked by over 100 lawsuits against crypto companies under the previous administration. This change is seen as an opportunity to ease regulatory pressures, facilitate the approval of financial products such as crypto ETFs, and reposition the United States as a leader in blockchain innovation.

🔗 Read the full article here

Jerome Powell nuances his position on Bitcoin

During a NY Times conference, Fed Chairman Jerome Powell compared Bitcoin to “digital gold,” while highlighting its limitations as a means of payment or store of value. Acknowledging its volatility, he stated that Bitcoin competes more with gold than with the dollar. These remarks reflect a nuanced perception of Bitcoin’s role in the global monetary ecosystem. Although it is not suited for large-scale daily transactions, Bitcoin could play a strategic role as a reserve currency, attracting the attention of countries seeking to reduce their dependence on the dollar. The emergence of a Lightning Network, while promising, remains insufficient for widespread adoption in the short term.

🔗 Read the full article here

XRP under pressure!

After reaching $2.85 in early December, XRP has undergone an 18% correction, even as open interest on its derivative contracts hits a historic high of $3.44 billion. The proliferation of leveraged long positions raises concerns, especially in a context where Bitcoin’s dominance in the market (55.30%) could increase to 70%. Such a capital rotation from altcoins to Bitcoin could lead to a massive liquidation of positions, estimated at $104.4 million for a mere 7% price drop in XRP. Experts are calling for Bitcoin’s stabilization to avoid a potential collapse.

🔗 Read the full article here

That’s the essential takeaway for this week. But if you’d like a more detailed recap and in-depth analyses directly in your inbox, don’t hesitate to subscribe to our weekly newsletter.

Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.



Join the program
A
A
Luc Jose A. avatar
Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.