Between revolutionary announcements, technological developments and regulatory turbulence, the crypto ecosystem continues to prove that it is both a territory of limitless innovation and a field of regulatory and economic battles. Here is a summary of the most significant news of the past week around Bitcoin, Ethereum, Binance and Solana, and Ripple.
Bitcoin surpasses Visa and Mastercard in transaction volume
Bitcoin has reached a historic milestone by surpassing Visa and Mastercard in terms of daily transaction volume. According to Glassnode data, the flagship crypto asset recorded $46.4 billion in volume, compared to $6.5 billion for filtered economic transactions. This surge is driven by growing adoption and innovations such as the Runes protocol. With a market cap of around $1.3 trillion, bitcoin is redefining traditional payment systems.
Binance Can Invest in US Treasuries
The world’s leading crypto exchange, Binance, has been granted approval to invest its customers’ funds in US Treasuries. This strategic move allows the company to diversify investment options for its users, notably providing them with greater security and stability compared to more volatile crypto assets. The announcement has also led to a notable increase in the price of Binance Coin (BNB). This reflects investors’ confidence in Binance’s management of funds and paves the way for similar initiatives to follow.
JD Vance: Trump's Pro-Bitcoin Running Mate for 2024
Donald Trump has chosen Ohio Senator JD Vance as his running mate for the 2024 presidential election. Vance, known for his support for cryptocurrencies, owns between $100,000 and $250,000 in Bitcoin and has been pushing for a crypto-friendly legislative framework. The appointment is aimed at appealing to crypto-enthusiastic voters and marks a pro-crypto shift for Trump, who is now accepting cryptocurrency donations for his campaign.
Ethereum ETF hits the market on July 23
The long-awaited launch of the first Ethereum spot ETFs is set for July 23, 2024, according to a recent confirmation from the Chicago Board Options Exchange (Cboe). Among the funds listed are the 21Shares Core Ethereum ETF (CETH) and the Fidelity Ethereum Fund (FETH). These ETFs offer a regulated and secure option to invest in Ethereum. They could attract more institutional investors and strengthen the legitimacy of the crypto market.
Whale Transactions Destabilize XRP Price
Recent massive XRP transactions by whales have caused significant volatility in the token. After accumulating over 130 million, these investors managed to push the price of XRP up to 63 cents. However, the crypto asset’s price subsequently fell by 8% to around 55.8 cents. These significant movements by large holders demonstrate their direct impact on the market and the difficulty in maintaining price stability in the short term.
That's the bottom line for this week. But if you want a more detailed recap and in-depth analysis delivered straight to your inbox, feel free to sign up. to subscribe to our weekly newsletter.
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