Bitcoin, Binance, Ethereum, Solana, And Ripple: The Biggest Crypto News Of The Past Week
Between revolutionary announcements, technological advancements, and regulatory turbulence, the crypto ecosystem continues to prove that it is both a territory without limits and a battlefield of regulatory and economic battles. Here is a summary of the most notable news from the past week around Bitcoin, Ethereum, Binance, Solana, and Ripple.
MicroStrategy strengthens its Bitcoin holdings with $1.11 billion
MicroStrategy recently acquired an additional 18,300 bitcoins for a total amount of $1.11 billion, bringing its holdings to 244,800 BTC. This purchase, made at an average price of $60,408 per bitcoin, strengthens the company’s position as the world’s largest institutional holder of BTC, with a total value of its holdings estimated at $14 billion. Since 2020, MicroStrategy has adopted an aggressive accumulation strategy, viewing Bitcoin as a store of value and a hedge against inflation. This acquisition had a positive impact on the market, with a slight increase in BTC price, reflecting investors’ confidence in the company’s strategy. Michael Saylor, the founder of MicroStrategy, continues to promote BTC as an alternative to traditional currencies, encouraging other institutions to follow suit.
BNB Chain introduces Restaking
BNB Chain has just launched an innovative feature called “restaking,” allowing users to reuse their already staked assets to earn additional rewards. This mechanism aims to stimulate engagement in BNB Chain’s DeFi ecosystem, whose total value locked (TVL) has dropped from $5.8 billion in March to around $4.215 billion recently. By allowing users to maximize their gains, this initiative could attract new participants and potentially increase the price of BNB. An increase in TVL is often viewed positively by investors, as it reflects greater confidence and utilization of the network. If restaking succeeds in revitalizing engagement within BNB Chain, it could push BNB to new heights.
World ID arrives on Solana for enhanced security
Worldcoin integrates World ID on the Solana blockchain, offering developers new capabilities to secure their applications by verifying user authenticity. Facilitated by the Wormhole interoperability protocol, this integration allows the creation of safer applications, reducing fraud risks by ensuring interactions are between real people. For users, this means a more secure experience with data protection guarantees. This collaboration marks a step towards a more reliable crypto ecosystem and could transform various sectors like decentralized finance, social networks, and online gaming by making identity verification simpler and more robust.
Trump or Harris: Bitcoin will surpass $100,000 no matter what
Crypto analysts predict that Bitcoin will exceed $100,000 after the 2024 U.S. presidential election, regardless of the winner. This forecast is based on global economic conditions rather than U.S. domestic policies. Steven Lubka of Swan Bitcoin estimates that BTC will reach six figures by 2025, whether under Trump or Harris. Although a Harris presidency might introduce stricter regulation, the rise of Bitcoin ETFs and global institutional adoption will continue to support BTC. Bernstein analysts predict BTC at $90,000 with Trump, while Harris could cause a temporary dip to $40,000. However, the crypto market remains largely influenced by global trends, suggesting a long-term upward trajectory for Bitcoin.
Ethereum risks collapsing: Coinbase reveals the reasons
Ethereum, the world’s second-largest cryptocurrency, is struggling to keep up with its competitors. According to Coinbase, Ether’s underperformance is due to investors’ growing attraction to altcoins, which concentrate capital in risky and often illiquid projects, depriving Ethereum of necessary investment flows. The absence of a strong narrative and significant innovations also weakens its position against smart contract blockchain competition. Ethereum’s TVL has dropped from $67 billion in June to $44 billion recently, reflecting a worrying disengagement. To regain its momentum, Ethereum must rekindle the interest of developers and investors and focus on emerging new use cases, hoping that future Ethereum ETFs will finally attract institutional capital.
That’s the gist for this week. But if you want a more detailed summary and in-depth analysis directly in your inbox, don’t hesitate to subscribe to our weekly newsletter.
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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.
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.