Top stories this week
- White House Struggles to Resolve Stablecoin Rewards Issue
The White House has been involved in ongoing discussions with banks and crypto groups to address stablecoin yield disputes. Despite hosting a series of meetings, including the latest one which showed some progress, a resolution has yet to be reached as the March 1 deadline approaches.
- Crypto.com Gains Conditional Approval for U.S. National Trust Bank
Crypto.com has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter. This development allows it to move toward becoming a federally regulated crypto custodian bank in the United States.
- Bitcoin and Major Cryptos Face Market Challenges
Bitcoin’s price has been fluctuating between $65,000 and $67,000, facing downward pressure alongside other major cryptocurrencies like Ethereum, XRP, and Dogecoin. The market appears to be strained, with traders closely watching key levels amid recent declines.
- Société Générale Expands Euro Stablecoin to XRP Ledger
Société Générale-FORGE has expanded its Euro-based stablecoin, EUR Coinvertible, to the XRP Ledger. This move aims to support a multi-chain approach for stablecoin distribution, leveraging XRP Ledger’s capabilities to enhance cross-border settlement efficiency.
- US Supreme Court Overturns Trump Tariffs, Impact on Bitcoin
The U.S. Supreme Court has ruled against tariffs imposed by the Trump administration. This decision has been linked to a positive reaction in the crypto market, particularly influencing Bitcoin, as it reflects broader tensions in international trade policy.
- Bitdeer Liquidates Entire Bitcoin Holdings Amid Mining Pressures
Bitdeer, a cryptocurrency mining company, has sold off its entire Bitcoin treasury. This strategic move is in response to challenging mining economics and part of their pivot towards AI data centers.
- CME Group to Launch 24/7 Trading for Crypto Futures
CME Group has announced plans to introduce 24/7 trading for cryptocurrency futures and options, including BTC, ETH, XRP, and SOL, starting May 29. This move aims to provide more flexibility and accessibility in the crypto derivatives market.
- Bitcoin Market Weakness Amid Global Economic Risks
Bitcoin’s market structure shows signs of weakness, dropping below critical support levels. The cryptocurrency’s performance is being tested by global economic factors, including tensions with Iran and concerns about market volatility.
- Exploring a Dollar-Backed Stablecoin for Gaza
Former Trump officials are exploring the idea of launching a dollar-backed stablecoin to facilitate reconstruction in Gaza. The aim is to provide financial stability and economic support for the region amid ongoing tensions.
Hottest coins of the week
Power Protocol (POWER)
Power Protocol (POWER) has experienced significant price surges, with a +103.48% increase in the last 24 hours and a +129.80% rise this week. The driving factors behind this bullish trend include market speculation around its unique applications in powering AI payments and decentralized operations, as well as strategic partnerships and integrations that enhance cross-chain interoperability. The optimism in the Power Protocol’s potential role in the next evolution of decentralized finance and AI has likely boosted investor confidence, leading to its notable price increases.
AI Rig Complex (ARC)
AI Rig Complex (ARC) has seen an impressive +34.44% price surge in the last 24 hours and a remarkable +60.08% increase this week. The rising interest in ARC may be attributed to growing recognition of the coin’s potential, particularly in integrating artificial intelligence with blockchain technology, an area that is gaining traction among investors. Additionally, the overall altcoin market’s momentum and anticipation of regulatory clarity could be boosting confidence and investment in promising projects like the AI Rig Complex.
pippin (PIPPIN)
Pippin (PIPPIN) has seen a remarkable surge in value, maintaining a strong upward momentum despite broader market fluctuations. The coin has rallied by 50.51% this week and 6.54% in the past 24 hours, driven by a growing interest in low-cap altcoins, resilient market demand, and its ability to overcome former resistance levels. Traders have been capitalizing on its ascent, and it has recently achieved an all-time high, positioning PIPPIN as one of the most promising tokens in the market.
Everlyn (LYN)
Everlyn (LYN) is experiencing a notable price increase, up +4.24% in the last 24 hours and +30.64% this week. The surge can be attributed to a few key factors. Firstly, recent closures of DeFi platforms like Polynomial and Zerolend may have shifted interest and flow towards LYN. Additionally, as macro economist Lyn Alden suggests the potential peak in AI stocks, investors might be diversifying into alternative assets like LYN. These events, combined with an overall optimism in the market, are driving the heightened demand and price appreciation of Everlyn.
Morpho (MORPHO)
Morpho (MORPHO) has experienced a significant price increase of +19.25% in the last 24 hours and +25.87% this week, driven by expanding trading volumes and high-profile partnerships. Key collaborations with financial giants like Apollo, which plans to purchase up to 90 million MORPHO tokens, along with Morpho’s role in Coinbase’s USDC lending product, are contributing to its rising appeal and investment potential. This strengthened investor confidence, coupled with the growing interest in decentralized finance (DeFi) lending markets, positions Morpho for continued momentum in the financial landscape.
Synthetix (SNX)
Synthetix (SNX) has experienced a significant price increase, with a 5.78% rise in the past 24 hours and a notable 20.63% gain this week. This bullish momentum is driven by its strong presence on major exchanges like Binance and Coinbase, allowing for greater accessibility and liquidity. The decentralized nature of the Synthetix protocol, which facilitates synthetic asset creation, also enhances investor confidence, contributing to the upward trajectory of SNX’s value.
