Top stories this week
- FHFA Directs Mortgage Giants to Recognize Crypto as Assets
The Federal Housing Finance Agency (FHFA) has instructed Fannie Mae and Freddie Mac to include cryptocurrency as an asset in mortgage risk assessments. This move aims to expand the range of assets considered in home loan eligibility.
- Circle Seeks National Trust Bank Charter
Circle, the issuer of the USDC stablecoin, has applied for a U.S. national trust bank charter. The move is part of Circle’s strategy to enhance custody and management of its USDC reserves, boosting its institutional services.
- Metaplanet Increases Bitcoin Holdings to Strengthen Treasury
Metaplanet has raised $515 million to purchase more Bitcoin, adding 1,005 BTC to its treasury. This acquisition puts Metaplanet among the top six Bitcoin holders globally, showcasing a strong commitment to Bitcoin investments.
- Kraken Secures MiCA License in Ireland
Kraken, a major crypto exchange, has obtained a Markets in Crypto-Assets (MiCA) license in Ireland. This license allows Kraken to expand its crypto services within the European Union market.
- S&P 500 Sets Record Amidst Flat Bitcoin Market
The S&P 500 has reached a new all-time high while Bitcoin’s market price remains steady. This divergence underscores the evolving relationship between traditional and cryptocurrency markets.
- Galaxy Digital Launches $175M Fund for Crypto Startups
Galaxy Digital has closed a $175 million venture fund to support early-stage crypto startups. The fund focuses on DeFi, stablecoins, and blockchain applications, marking a significant step in its investment strategy.
- Trump-backed World Liberty Financial to Launch Stablecoin
World Liberty Financial, linked to the Trump family, has partnered with Re7’s Innovation Arm to scale the USD1 stablecoin. This initiative includes launching an app for investors and conducting a stablecoin audit.
- Procap Increases Bitcoin Holdings Significantly
Pompliano’s Procap has significantly increased its Bitcoin holdings to nearly 5,000 BTC. This move reflects a strategic decision to bolster cryptocurrency reserves in the face of market volatility.
- Coinbase Expands Wrapped Token Offerings
Coinbase has introduced wrapped Cardano and Litecoin (cbADA and cbLTC) on its Base network. This expansion aims to enhance trading options and liquidity for these cryptocurrencies on the platform.
- Bitcoin and Major Cryptocurrencies Experience Dip
Bitcoin, Ethereum, XRP, and Dogecoin have experienced slight market dips ahead of significant economic data releases. Traders are closely watching these movements for potential opportunities in the market.
Hottest coins of the week
AI Companions (AIC)
AI Companions (AIC) has shown remarkable resilience by defying broader bearish market trends, experiencing an impressive price surge of 4.65% in the last 24 hours and 74.85% over the week. The increasing Long/Short Ratio and a key liquidity cluster at $0.19 suggest the potential for further upward movement. This performance distinguishes AIC from most AI tokens currently facing price declines.
Useless Coin (USELESS)
Useless Coin (USELESS) has been gaining significant attention and momentum, experiencing a noteworthy price surge of 23.12% in the last 24 hours and an impressive 69.73% this week. The surge is driven by its rising volume and strong performance among other meme coins, coupled with viral buzz and increasing community support, particularly from Korean crypto enthusiasts. As traditional market narratives are being shrugged off, USELESS is also nearing its all-time high despite broader market volatility, indicating strong interest and potential for future price breakouts.
Prom (PROM)
Prom’s (PROM) significant price increases of +3.49% in the last 24 hours and +45.05% over the week can be attributed to a surge in market interest and investor optimism. This optimistic outlook may be stirred by recent adoption and integration developments globally, which increase confidence in its potential as a promising digital asset. The sustained interest and upward momentum in Prom suggest it’s gaining favor in the crypto community, potentially enhancing its valuation further.
SQD (SQD)
OceanStream by SQD’s strategic partnership with Rose AI is making waves in the crypto market, providing institutional investors with advanced, real-time blockchain insights. This collaboration leverages Rose AI’s expertise in generative AI technology, revolutionizing data accessibility and possibly driving increased interest and investment in SQD. This momentum is reflected in SQD’s significant price surge, with a +12.26% rise in the past 24 hours and an impressive +25.56% this week.
AWE Network (AWE)
The AWE Network (AWE) is experiencing a remarkable price surge, climbing +29.04% in the last 24 hours and gaining +23.00% over the week. This impressive growth likely stems from increased market interest and possibly strategic partnerships or advancements within the AWE ecosystem, offering unique solutions to blockchain challenges. As interest continues to bloom, the coin attracts both investors and developers seeking innovative opportunities in decentralized networks.
ALEO (ALEO)
Over recent days, ALEO (ALEO) has experienced a significant price surge of +26.80% in the last 24 hours and +20.46% this week. This rally might be fueled by increased attention and investor speculation regarding developments in the cryptocurrency market and potential upcoming announcements or partnerships involving ALEO. The bullish momentum suggests growing interest and confidence in the project, attracting new and existing investors to explore its potential.
