Top stories this week
- Bitcoin surges past $44,000 for the first time in 1.5 years
The price increase is fueled by growing optimism about the approval of Bitcoin exchange-traded funds (ETFs) in the US, triggering a FOMO effect. The rise represents a remarkable rebound for the cryptocurrency, which was trading in the mid $20,000 range just a couple of months prior.
- FTX Granted Permission to Sell Grayscale, Bitwise Assets
Crypto exchange FTX has won court approval to sell $870 million worth of Grayscale and Bitwise assets as part of efforts to repay creditors. - Brazil’s Largest Bank Launches Crypto Trading
Itau Unibanco, Brazil’s largest bank, has announced the launch of cryptocurrency trading services, including Bitcoin and Ethereum. - KyberSwap Hack Leads to Unusual Demands
The hacker behind the KyberSwap exploit has demanded full control of the company in order to return the stolen assets. - El Salvador’s Bitcoin Investment Turns Profitable
El Salvador’s Bitcoin investment has turned profitable, highlighting the viability of its decision to adopt the digital currency as legal tender. - Shiba Inu’s Layer-2 Solution, Shibarium, Sees Huge Increase in Transactions
Shiba Inu’s Layer 2, Shibarium, recorded 12 million transactions in two days, sparking enthusiasm as it led to an exponential increase in Shiba Inu’s burn rate. - ARK Invest Adjusts Portfolio, Sells Coinbase Shares
ARK Invest, led by Cathy Wood, sold $34M in Coinbase and $6M in GBTC shares, instead buying Robinhood shares as part of their portfolio adjustment. - US SEC Postpones Decision on Grayscale’s Ethereum ETF
The US Securities and Exchange Commission (SEC) has postponed its decision on Grayscale’s Ethereum ETF listing application and opened up the discussion for public comments. - Circle Cuts Ties with Justin Sun over Financing Claims
Circle, a global fintech firm, has terminated its ties with TRON’s Justin Sun, denying allegations of supporting illicit financial activities. - KuCoin Supports TON Foundation with $20K Grant
KuCoin Ventures has provided a $20,000 grant to the TON Foundation to foster ecosystem expansion.
Hottest coins of the week
The featured cryptocurrencies list was generated through our sophisticated AI-driven analysis that meticulously evaluated the market sentiment surrounding tokens within the 500 most prominent articles over the past week, in conjunction with a thorough AI-examination of their price trends.
- Algorand (ALGO)
Algorand’s price is surging, with a 4.77% rise in the last 24 hours and an 18.01% increase in the past week due to several key factors. Market analysts have projected a potential 5,543% price rally for Algorand resulting from an Elliott Wave formation. Furthermore, the Algorand Foundation’s strategic partnerships in India and collaborations with the United Nations Development Programme for Blockchain education are contributing to its upward trajectory. A spin-off Wrapped ALGO (XALGO) coin recently witnessed a 1,000% rise, indicating a promising future for ALGO.
Read more on: coindesk.com, cryptopolitan.com, cryptonews.com - VeChain (VET)
VeChain (VET) continues its upward trajectory, seeing a price increase of +1.89% in the last 24 hours and +14.18% this week, triggered by several factors. A surge in the user base, with nearly 160K new addresses since November, heightens demand and strengthens the coin’s market presence. Additionally, expert predictions earmark VeChain as a potential top contender in the forthcoming bull run, further bolstering investor confidence in the token’s future growth.
Read more on: thenewscrypto.com, invezz.com, thecryptobasic.com - JasmyCoin (JASMY)
JasmyCoin’s price is on a rising trend, with an increase of 11.64% in the last 24 hours and a remarkable 28.05% rise this week, outperforming top assets like stocks and commodities. This price surge is partially due to the formation of a golden cross in the crypto market, which tends to indicate an upcoming bull market, producing a beneficial influence on JasmyCoin. Furthermore, the price of JasmyCoin is also affected by double tops, which denotes positive fluctuations and potential for continued growth.
Read more on: invezz.com - eCash (XEC)
eCash (XEC) is showing impressive price momentum boosted by remarkable market dynamics and strategic moves from its executive board. With a leap of 11.58% in the last 24 hours and an impressive 18% growth over the week, the coin shows a bright future for investors. Key contributing factors include a harmonious blend of vigorous executive decisions, vibrant partnerships, and rapid tech advancements notably in the AI sector.
Read more on: investorsobserver.com
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