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.
MicroStrategy Boosts Bitcoin Holdings with $1.11 Billion
MicroStrategy recently acquired an additional 18,300 bitcoins for a total of $1.11 billion, bringing its holdings to 244,800 BTC. The purchase, made at an average price of $60,408 per bitcoin, solidifies the company’s position as the largest institutional holder of BTC in the world, 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. The acquisition had a positive impact on the market, with the price of BTC rising slightly, reflecting investor confidence in the company’s strategy. MicroStrategy founder Michael Saylor continues to promote BTC as an alternative to traditional currencies, inspiring other institutions to follow suit.
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BNB Chain Introduces Retaking
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 boost 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 drive up the price of BNB. An increase in TVL is often viewed positively by investors, as it reflects greater trust and usage of the network. If restaking succeeds in revitalizing engagement within BNB Chain, it could propel BNB to new heights.
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World ID comes to Solana for enhanced security
Worldcoin is integrating World ID on the Solana blockchain, giving developers new capabilities to secure their applications by verifying the authenticity of users. Facilitated by the Wormhole interoperability protocol, this integration enables the creation of more secure applications, reducing the risk of fraud by ensuring that interactions are between real people. For users, this means a more secure experience with guarantees on the protection of their data. This collaboration marks a step towards a more trustworthy crypto ecosystem and could transform various sectors such as decentralized finance, social networks and online gaming, by making identity verification simpler and more robust.
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Trump or Harris: Bitcoin will break $100,000 no matter what
Crypto analysts predict that Bitcoin will surpass $100,000 after the 2024 US presidential election, regardless of who wins. This prediction is based on overall economic conditions rather than US internal politics. Steven Lubka of Swan Bitcoin believes that BTC will reach six figures by 2025, whether under Trump or Harris. While a Harris presidency could usher in stricter regulation, the rise of Bitcoin ETFs and global institutional adoption will continue to support BTC. Bernstein analysts predict BTC will hit $90,000 with Trump, while Harris could cause a temporary drop to $40,000. However, the crypto market remains largely driven by global trends, suggesting a long-term bullish trajectory for Bitcoin.
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Ethereum at Risk of Collapse: Coinbase Reveals Why
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 appetite for altcoins, which are pooling capital into risky and often illiquid projects, depriving Ethereum of needed investment flows. The lack of a strong narrative and breakthrough innovations is also weakening its position against competition from smart contract blockchains. Ethereum’s TVL has fallen from $67 billion in June to $44 billion recently, reflecting a worrying disengagement. To regain momentum, Ethereum must rekindle interest from developers and investors and bet on the emergence of new use cases, with the hope that future Ethereum ETFs will finally attract institutional capital.
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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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