Top stories this week
- Spot Bitcoin And Ethereum ETFs Approved In Hong Kong
Hong Kong’s Securities And Futures Commission has given the green light for the first Bitcoin and Ethereum Exchange Traded Funds (ETFs), setting a precedent in the crypto industry. - Significance of Bitcoin Halving
The bitcoin halving, a process where the rewards for mining Bitcoin are halved, is generating excitement and discussion about its potential impact on the cryptocurrency market. - LBBW to Launch Crypto Custody Services
Germany’s primary federal bank, Landesbank Baden-Württemberg (LBBW), is planning to offer cryptocurrency custody services, targeting a mid-2024 launch in cooperation with Bitpanda. - Solana Releases Update to Address Network Congestion
Solana has released a new update to tackle network congestion issues, a move that has seen the Solana price jump by 7% amid Bitcoin and Ethereum ETF approvals. - Preparations for the Bitcoin Halving Event
As the blockchain community prepares for the Bitcoin halving event, Bitcoin miners are reportedly strengthening their reserves and remain optimistic despite declining stock prices. - Binance Converts SAFU Fund to USDC
Binance has converted its entire Secure Asset Fund for Users (SAFU) to USDC in an effort to bolster further stability and enhanced reliability of the fund. - Coinbase Challenges SEC Over Crypto Regulation
Coinbase challenges the U.S. Securities and Exchange Commission (SEC) over the definition of ‘investment contracts’ in a court of appeal over cryptocurrency regulation. - TON Foundation Partners with HashKey
The TON Foundation has formed an alliance with HashKey to improve accessibility for Telegram Wallet Access for the Asia-Pacific market.
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.
- Axelar (AXL)
The Axelar (AXL) cryptocurrency is enjoying a significant rise, with price movement surging by +3.94% in the last 24 hours and +11.55% this week. These gains are linked to a variety of news reports signaling positive developments and growth for the Axelar network. This includes strategic partnerships, tech advancements and growing user-adoption that all contribute to the growing interest and investment in AXL coins. - Injective (INJ)
Injective (INJ) has experienced a significant upswing in its price over the past 24 hours, gaining 10.98%, and showing positive week-to-week momentum with a 9.87% jump. This is primarily due to fresh collaborations, like the one with mobile service provider Jambo, aiming to enhance mobile-based decentralized finance (DeFi) adoption in emerging markets. The prospect of INJ price pushing towards $40 has been spurred by growing network activity and a company proposal to reduce the INJ token supply to make it more deflationary. - Sui (SUI)
Sui (SUI) has gained significant attention as potential investment in the cryptocurrency market, making substantial strides in recent weeks. The coin has seen a price movement of +2.82% in the last 24 hours, and a weekly surge of +7.74%. This positive trend can be attributed to the optimistic price predictions as well as strategic partnerships like the one with dWallet for native Bitcoin and Ethereum bridging, and the integration of the fourth-largest stablecoin on Ethereum and BNB, FDUSD, as the first native stablecoin into the SUI network. Furthermore, Sui’s move into the gaming industry with the launch of a Web3 enabled Gaming Handheld, SuiPlay0x1, and its collaboration with TikTok subsidiary BytePlus to explore AI and Web3 gaming projects boost its market prospects. - Beam (BEAM)
The BEAM token is showing positive signs of growth with an increase of 4.79% in the last 24 hours and 5.59% over the week. This growth is driven by a combination of factors including positive predictions from prominent crypto traders and analysts who are bullish on BEAM. Additionally, significant news such as Merit Circle’s destruction of over 37 Billion BEAM tokens and the increasing active addresses on the Polkadot blockchain ecosystem, where BEAM is a major contributor, are adding further strength and credibility to the coin’s rising value.
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