Bitcoin, Ethereum, Binance And Ripple: The Major Crypto News Of The Week Not To Be Missed

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

Bitcoin ETFs on the cusp of one million BTC under management

Bitcoin ETFs are on the verge of reaching a historic milestone, having already accumulated 97% of their target of one million BTC. BlackRock, the world leader in asset management, dominates the market with nearly 400,000 BTC under its management, closely followed by Grayscale and Fidelity. This institutional appetite marks a turning point for the flagship crypto, with a rapid accumulation that surpasses initial forecasts by analysts. The rising demand for Bitcoin from ETFs has a notable effect on reducing the available supply, which could lead to an increase in its price. This institutional rush also helps legitimize Bitcoin as an asset class integrated into the traditional financial system. With the improvement of the regulatory framework and the increase in investment options, analysts anticipate an acceleration of institutional adoption, likely to soon cross the symbolic threshold of one million BTC under management.

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Ethereum: gas fees soon to be reduced by four!

Vitalik Buterin, co-founder of Ethereum, recently unveiled a major proposal aimed at reducing gas fees on the Ethereum network by four. This ambitious plan reduces costs for certain opcodes of the Ethereum virtual machine, lowering transactions in the highest gas cost ranges. This initiative, in addition to making transactions more accessible for users, aims to improve the overall efficiency of the network by increasing the number of transactions per second (TPS) it can support. With more affordable fees, smart contracts will become cheaper to deploy and execute, thus fostering the development of decentralized applications. By collaborating with other players in the ecosystem, Buterin hopes to make Ethereum an even more attractive and innovative network.

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XRP ETF: Ripple ready for imminent takeoff

Ripple, under the direction of Brad Garlinghouse, may soon see its asset XRP reach a new high with the potential introduction of an ETF. As the legal battle with the SEC continues, the market remains optimistic about the approval of an XRP ETF, which is expected to enhance institutional appeal for the crypto. Garlinghouse calls this ETF “inevitable.” Moreover, Bitwise has already taken the lead by filing a request with the SEC. In parallel, Ripple continues its investments with the launch of its stablecoin RLUSD, designed to attract institutions seeking transparency and compliance. If this XRP ETF comes to fruition, it could catalyze a new phase of adoption and legitimacy for Ripple, marking a decisive turning point for the crypto market.

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Bitcoin crushes Ethereum: a dominance without sharing?

Bitcoin strengthens its dominant position with a market share reaching 57%, relegating Ethereum to 13.5%, its lowest level in several years. While BTC enjoys growing institutional popularity, Ethereum struggles to maintain its status and suffers from high transaction fees and competition from faster blockchains. However, Ethereum retains its relevance with its numerous dApps and smart contracts, not to mention the transition to Ethereum 2.0, which is expected to improve scalability.

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Solana reaches unmatched activity peaks!

Solana records unprecedented economic activity, generating $8.7 million in daily revenue as of October 23, 2024. This explosive success, with a TVL (total value locked) surging from $250 million to $6.8 billion in less than a year, positions Solana as a serious challenger to Ethereum. The rise of memecoin trading platforms like Pump.fun and Moonshot, which largely rely on Solana, has contributed to this surge in activity by attracting a wide audience. Additionally, the potential integration of SOL into ETFs in the United States could pave the way for greater institutional adoption. In just a few months, Solana is establishing itself as a rising force in DeFi, ready to redefine the crypto ecosystem in the face of Ethereum.

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Here’s the key takeaway for this week. But if you want a more detailed summary and in-depth analyses directly in your inbox, feel free to subscribe to our weekly newsletter.