Top stories this week
- House Bill for Permanent Bitcoin Reserve
A proposed House bill aims to make Trump’s strategic Bitcoin reserve permanent, stirring political debate. Opponents, including some Democrat lawmakers, urge the Treasury to dismiss the plan, citing potential economic and security risks.
- Completion of Trump-backed Token Sale
Trump-backed World Liberty Financial concluded a significant token sale, raising $550 million. This sale optimistically positions the project within the decentralized finance (DeFi) sector and marks a notable financial milestone.
- Binance Secures $2 Billion Investment
Cryptocurrency exchange Binance received a $2 billion investment from Abu Dhabi-based MGX. The investment, which was reportedly paid in stablecoins, is significant for Binance’s expansion plans and positions the firm strongly in the crypto space.
- Trump Family’s Talks with Binance
Reports indicate the Trump family engaged in discussions to acquire a stake in Binance.US. The discussions highlight potential expansion and investment interests within the crypto sector by influential figures.
- TON Coin Surge Linked to Founder Leaving France
Toncoin’s value surged 20% following news that Telegram’s founder, Pavel Durov, received clearance to leave France and return to Dubai, contributing to a significant market reaction in the crypto space.
- Russia Uses Crypto for Oil Trades Amid Sanctions
Amid ongoing international sanctions, Russia is reportedly using Bitcoin and Ethereum for trading oil with BRICS nations, particularly China and India, showcasing a shift towards using cryptocurrencies to navigate economic restrictions.
- OKX Suspends DEX Aggregator Services
OKX suspended its DEX aggregator service to address security concerns and prevent further misuse by the Lazarus Group. This move reflects ongoing efforts to enhance platform security amid increasing threats.
- Canary Capital Files for Sui ETF
Canary Capital has filed an S-1 application with the SEC to launch what would be the first Sui-based ETF. This move could introduce new investment opportunities within the US financial markets.
Hottest coins of the week
doginme (DOGINME)
Doginme (DOGINME) has experienced a significant price increase, surging by 5.16% in the last 24 hours and an incredible 426.95% this week. This surge is mainly due to the addition of DOGINME to Coinbase’s listing roadmap, which has driven investor interest and prompted action from other exchanges like BitMart. As a trending meme coin alongside others like DRB and CLIZA, DOGINME is capturing attention with strong volume and momentum, making it a noteworthy token in the current market.
Plume (PLUME)
Plume’s price has surged by 12.10% in the past 24 hours and an impressive 57.44% this week, largely driven by strategic investments and growing interest in real-world asset (RWA) tokenization. Significant backing from YZi Labs for Plume Network highlights its potential to revolutionize the DeFi ecosystem by making RWAs as accessible as digital assets. This investment is a strong vote of confidence, indicating Plume’s promising future and contributing to the recent price increase.
Cheems Token (CHEEMS)
CHEEMS Token (CHEEMS) has managed to shine amidst a troubling week for meme coins, achieving a 7.08% increase in the last 24 hours and a remarkable 52.92% rise over the week. This upward momentum suggests strong investor confidence and growing interest, despite other meme coins like Gigachad and Brett experiencing sharp declines. The focus is currently on CHEEMS breaking its resistance level at $0.00000096, which could lead to further price increases.
Frax Share (FXS)
Frax Share (FXS) has seen a notable price surge, rising +14.91% in the last 24 hours and +47.89% this week. This increase is possibly due to growing interest and investment in stablecoins and decentralized finance ecosystems, where FXS plays a key role. Additionally, recent updates and developments within the Frax protocol may be attracting investor attention, highlighting FXS’s potential for future growth.
LayerZero (ZRO)
LayerZero (ZRO) is experiencing a significant price increase, rising by +4.55% in the last 24 hours and +40.71% this week. This growth is partly driven by investors seeking higher-risk assets amid concerns about an impending recession. The overall sentiment in the cryptocurrency market is bullish, contributing to the recent surge in LayerZero’s value.
Euler (EUL)
Euler’s recent meteoric rise of +19.20% in the last 24 hours and +34.86% this week can be attributed to its impressive recovery and innovation following a major security incident. The platform has regained trust and attracted attention by building on its V2 DeFi lending protocol, demonstrating resilience and a strong comeback story in the crypto industry. Euler’s ability to overcome past challenges and continue innovating has stirred interest among investors, driving up the price.
