Crypto Weekly Roundup: Bitcoin Soars, Ethereum ETFs Debut, and More
The crypto world saw a flurry of activity last week, with Bitcoin hitting a new high and Ethereum ETFs making their debut. Here’s a rundown of some of the key events:
Bitcoin’s Bull Run
Bitcoin’s price soared to $69,000 last week, fueled by investor interest and speculation. This came alongside Mt. Gox’s ongoing Bitcoin transfers and outflows in Bitcoin ETFs. The Bitcoin Nashville conference also generated buzz, with U.S. Senator Cynthia Lummis teasing a potential Bitcoin Bill and Senator Bill Hagerty announcing plans for pro-Bitcoin legislation.
Ripple’s Lawsuit Update
The Ripple vs. SEC lawsuit saw more developments, with pro-XRP lawyers Bill Morgan and Marc Fagel weighing in on a potential settlement. Morgan hinted that a settlement wouldn’t be ideal for either party, while Fagel clarified the nature of closed-door meetings. Ripple CEO Brad Garlinghouse also called for a clear crypto stance from presidential candidate Kamala Harris amid the controversy.
WazirX Hack Aftermath
Indian exchange WazirX, following a hack that resulted in the loss of $230 million, announced a 55/45 approach to help users recover their funds. This plan proposes allowing users to trade or withdraw 55% of their remaining assets, while the remaining 45% will be converted to USDT and locked.
Other Notable Crypto News
- Senator Cynthia Lummis unveiled a major pro-Bitcoin bill at the Bitcoin Nashville conference.
- Donald Trump renewed his promise to free Ross Ulbricht, the founder of Silk Road.
- The Federal Reserve’s interest rate cut talks and Jerome Powell’s speech are key factors to watch in the crypto market.
- Cantor Fitzgerald is launching a $2 billion Bitcoin financing fund.
- ETHFI is migrating funds to separate multi-sig wallets.
- Solana’s price target of $250 is fueled by growing network activity and 2 million active users.
- XRP’s price analysis hints at a major breakout as whale-to-exchange metrics drop.
- Uniswap’s price analysis suggests a potential crash ahead, with an insider wallet likely to sell nearly $10 million in UNI.
- Ethereum’s price is stalling despite the approval of ETH ETFs.
- Ethereum’s post-ETF crash echoes Bitcoin’s, suggesting a potential rally ahead.
Stay tuned for more developments in the exciting world of crypto.
