Top stories this week
- SBI Holdings Partners with Circle to Circulate USDC in Japan
Japanese financial services giant, SBI Holdings, a known Ripple and XRP believer, is collaborating with Circle to increase the circulation and adoption of USDC (USD Coin) stablecoin in Japan. - Standard Chartered Joins China’s CBDC Pilot Testing
Standard Chartered has become the first foreign bank to join the pilot testing of China’s Central Bank Digital Currency (CBDC), the e-Yuan. - Bitcoin User Pays a Record-Breaking Transaction Fees
A Bitcoin user has accidentally paid a transaction fee of $3.1 million, the largest in the crypto’s history, for a transfer of 139 BTC. - Extradition of Terra Founder Do Kwon Approved
The extradition of Do Kwon, the co-founder of Terra (LUNA), to the US and South Korea has been approved by a court in Montenegro. - Cristiano Ronaldo Faces Lawsuit Over Binance Promotion
Football star Cristiano Ronaldo is facing a lawsuit for promoting the crypto exchange Binance, raising concerns about compliance with financial regulations. - Grayscale Updates Bitcoin ETF Filing With SEC
Crypto investment company Grayscale has updated its proposal for a spot Bitcoin ETF with the US SEC, after discussing market developments. - Tether and Bitfinex to Stop Opposing Freedom of Information Law Request
Crypto firms Tether and Bitfinex are ceasing opposition to a Freedom of Information Law request, strengthening their commitment to transparency. - Bitcoin and Ethereum Drive Coinbase Stock To 18-Month High
Coinbase’s stock value hit an 18-month high as Bitcoin and Ethereum rallied to significant highs. - Animoca Brands Becomes Major TON Blockchain Validator
Animoca Brands has expanded its investment in the TON Blockchain network, becoming its largest validator. - Binance Warned by Philippines SEC for Operating Without a License
The Philippines Security and Exchange Commission has warned that crypto exchange Binance is operating in the country without a license.
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.
- IOTA (IOTA)
IOTA has recently partnered with the UAE Abu Dhabi authorities to foster its ecosystem growth. To facilitate its expansion in the Middle East, IOTA has launched a $100M Abu Dhabi foundation with Abu Dhabi Global Market (ADGM), local financial center and the institution responsible for regulating virtual currency transactions, making it the first decentralized entity to receive approval from regulative authorities in the city. This strategic alliance and regional development have certainly fueled IOTA’s price movement, with an increase of 38.26% in the last 24 hours and 31.51% this week.
Read more on: ourbitcoinnews.com, cointelegraph.com
- Axelar (AXL)
Axelar (AXL) has accrued significant gains of +9.65% in the last 24 hours and +11.38% this week, following significant collaborations and partnerships. A major boost came from the interoperability proof-of-concept project of J.P. Morgan’s Onyx Digital Assets, Apollo, Oasis Pro, Provenance Blockchain and Axelar. Additionally, the partnership with Ondo Finance, which resulted in the creation of the cross-chain mechanism ‘Ondo Bridge’, also influenced the upward trend, indicating Axelar’s significance in tokenizing and facilitating transfers across different blockchains.
Read more on: thenewscrypto.com, thenewscrypto.com, cryptonews.com - Stacks (STX)
The recent surge in the price of the Stacks (STX) coin, posting gains of 15.88% over the last 24 hours and 20.35% this week, can be attributed to various significant factors. Prominent among these is the predicted future movement of the cryptocurrency indicating promising returns for traders. Additionally, the price recovery phase of STX, marked by breaking multiple resistances and exceeding the $0.70 mark, signals a bullish market, pointing to a potential massive rally and further upliftment in its value.
Read more on: thenewscrypto.com, coinpedia.org
- Terra Luna Classic (LUNC)
Terra Luna Classic (LUNC) is re-gaining traction, with a notable 56.18% rise over the week, and a 9.12% increase in the past 24 hours. Fueling this bullish trend are diverse elements, including support from Binance for a new network upgrade, Terra Community showing unity by passing critical proposals aimed at resolving technical issues and efforts to repeg TerraClassicUSD (USTC), and impressive staking activity. Additionally, Terra Labs’ acquisition of Pulsar Finance further bolstered the coin’s market standing. The coin’s recent rally has piqued investor interest, signaling possible sustained growth.
Read more on: coinpedia.org, coinpedia.org, thenewscrypto.com
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