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

Amid revolutionary announcements, technological advancements, and regulatory turbulence, the crypto ecosystem continues to prove that it is both a territory of limitless innovations and a battlefield of regulatory and economic conflicts. Here is a summary of the most notable news from the past week surrounding Bitcoin, Ethereum, Binance, Solana, and Ripple.

El Salvador Strengthens Its Crypto Treasury with 6,000 BTC

El Salvador, under the leadership of President Nayib Bukele, has reached a symbolic milestone by accumulating 6,000.77 BTC in its national reserve, valued at approximately 569.3 million dollars. Since 2021, the year Bitcoin became legal tender in the country, the government has been pursuing a strategy of gradual purchases at an average cost of 45,450 dollars per unit. This policy, supported by the National Bitcoin Office, currently generates an impressive yield of 108%. However, it has attracted international criticism, particularly from the IMF, which warns about the risks of such exposure. Despite these warnings, El Salvador aims to become a key player in the global crypto sphere, multiplying strategic partnerships to strengthen its crypto infrastructure and attract foreign investors. However, questions remain about the long-term viability of this strategy due to tensions with international financial institutions and challenges related to local adoption.

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Solana Dominates Ethereum on DEX for the Third Consecutive Month

In December 2024, Solana reinforced its dominance over decentralized exchanges (DEX) with a transaction volume reaching 97 billion dollars, once again surpassing Ethereum and its 74 billion dollars. This performance marks the third consecutive month where Solana outperforms Ethereum, supported by the rise of memecoins like Bonk, Dogwifhat, and Popcat, which total over 14.1 billion dollars in capitalization. Solana has benefited from the popularity of Pump.fun, a token generator, and its reduced transaction fees, thereby attracting a massive influx of projects and capital. In November, Solana applications generated a record revenue of 365 million dollars, highlighting the robustness of its ecosystem. With such momentum, Solana is emerging as a potential leader against Ethereum in the DEX sector.

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Runes on Bitcoin Plunge to Historic Lows

Transactions of Runes on the Bitcoin network have dropped to a historically low level, now representing only 1.67% of daily transactions. This decline marks a sharp contrast to the period from April to November 2024, where they frequently exceeded 50%. The fees associated with Runes transactions have also remained below 250,000 dollars per day, evidencing minimal activity. Several factors explain this trend: the volatility of Bitcoin’s price, which diverts investors towards less risky assets, and the growing interest in sectors like Ethereum NFTs, memecoins, and artificial intelligence projects. Nevertheless, a stabilization of BTC prices or the festive year-end rally, where Bitcoin approaches 100,000 dollars, could reignite momentum for these experimental protocols.

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Ripple’s RLUSD Revolutionizes Stablecoins with Explosive Growth

The RLUSD, Ripple’s stablecoin pegged to the US dollar, is experiencing spectacular growth, recording a trading volume of 39 million dollars in 24 hours, representing a 106% increase. Available on XRP Ledger and Ethereum, this stablecoin stands out for its versatility and fuels various use cases such as fast cross-border payments, decentralized banking solutions, and intensive trading on platforms like Bullish and Independent Reserve. The RLUSD/USDC, BTC/RLUSD, and XRP/RLUSD pairs dominate these trades. By integrating major platforms such as Uphold, MoonPay, and Bitso, Ripple aims to broaden the adoption of its stablecoin beyond trading, targeting a comprehensive ecosystem encompassing decentralized finance and global payments. This success could encourage other players to adopt similar strategies, thereby reinforcing the role of stablecoins in modern financial markets.

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Bitcoin Reserves on Binance Reach Historic Lows

Bitcoin reserves on Binance have plunged below 570,000 BTC, their lowest level since January 2024. This phenomenon, associated with the withdrawal of BTC to cold wallets, reflects growing investor confidence in the long-term prospects of the flagship crypto. Historically, such movements have often preceded significant bullish rallies, as seen earlier this year when a similar decline led to a surge in BTC prices, reaching up to 73,679 dollars. While Bitcoin’s dominance stagnates at 58.4%, the market anticipates a potential rebound beyond 100,000 dollars, especially as investors seem to position themselves for a post-holiday recovery. If history repeats itself, Bitcoin could well set new highs in the coming months.

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