A weekly digest of the news that matters
The past week in the cryptocurrency market was marked by fluctuating trends and significant movements in key digital assets. Bitcoin (BTC) began the week trading in a tight range around $35,140, with technical indicators showing potential for growth. It briefly dipped below $35,000 before surging past $36,000 mid-week. Ethereum (ETH) also showed strength, maintaining a position above $1,800 and even surpassing $1,900 at times. Both cryptocurrencies were influenced by anticipation of US economic data and Federal Reserve policy decisions. Altcoins experienced notable movements, with Solana (SOL) surging 19% amid market consolidation and memecoin (MEME) leading with a 44.28% rally. XRP saw volatility due to rumors about Blackrock, while Cardano (ADA) fluctuated throughout the week.
Towards the end of the week, the market saw significant activity in certain altcoins. Celestia (TIA) and Yearn Finance (YFI) soared, recording substantial gains against the US dollar, while others like Gas (GAS) and Tellor (TRB) struggled. Bitcoin faced resistance at $38,000 while Ethereum fell below $2,000, finding support at $1,900. Overall, the week was characterized by cautious optimism.
Javier Milei, a libertarian and free-market advocate, has been elected President of Argentina, garnering support from Bitcoin and crypto enthusiasts and advocating for dollarization and the abolition of the central bank.
Robert Kiyosaki advises investing in gold, silver, and Bitcoin to protect against the risks posed by central bankers and fiat money.
In 2023, inflows into digital asset investment products surpassed $1 billion, with Bitcoin ETPs accounting for 20% of total Bitcoin trading volumes.
R100K, led by CEO Martin Lunger, aims to maximize Bitcoin profits using AI and rebalancing strategies as Bitcoin approaches $100,000.
Dapper Labs collaborates with Disney to launch an NFT pin-collecting platform, Disney Pinnacle, on iOS devices.
Over 40 countries are adopting the OECDs Crypto-Asset Reporting Framework to enhance tax compliance and combat evasion in the crypto market.
A string of robberies targeting Swedish Bitcoin owners is attributed to inadequate privacy laws that expose personal and financial data.
The AI-driven crypto market has recovered to $3 billion in value, led by growth in top AI-related cryptocurrencies.
In 2023, the privacy cryptocurrency sector saw a $440 million drop in market value, with a 6.83% decrease in tokens like Monero, Zcash, and Dash, amid declining social media interest.
Decentralized finances total value locked rose by $9.3 billion in 30 days, led by Rocket Pool, with Ethereum dominating over 54% of the market.