Top stories this week
- US SEC Approves Bitcoin ETFs
The U.S. Securities and Exchange Commission (SEC) has given the historical green light to the first exchange traded funds (ETFs) on the stock market to monitor Bitcoin. Major firms such as BlackRock, Ark Investments, Fidelity, Invesco and VanEck received approval, with the products expected to start trading as early as today. - Bitcoin Price Surpasses $47,000 After ETF Approval News
Bitcoin’s price is steadily rising after the positive news, but seems muted, possibly due to the news already being priced in in the previous weeks. - VanEck will donate Bitcoin ETF Profits to Core Developers
Investment firm VanEck pledges to donate 5% of its Bitcoin ETF profits to Bitcoin core developers for at least ten years. - Honduras Special Zone Officially Recognizes Bitcoin
Special economic zone in Honduras, Próspera, officially recognizes Bitcoin as a unit of account. - Bitcoin Whale Accumulates 1,750 BTC Ahead of Bitcoin ETF Approval
A Bitcoin whale is reported to have accumulated 1,750 BTC ($76.9 million) ahead of the potential Bitcoin ETF approval. - South Korea Proposes Credit Card Ban for Cryptocurrency Purchases
South Korean regulators propose a restriction on the use of credit cards for cryptocurrency transactions in a new regulatory overhaul. - Ark Invest Sells $20M Of Coinbase Shares
Cathie Wood’s Ark Invest reportedly sold shares worth $20M of Coinbase, leading to speculation on profit-taking or portfolio shifts. - Shiba Inu Burn Rate Jumps Amid Soaring Whale Accumulation
The burn rate of Shiba Inu cryptocurrency has surged 27510% alongside a soaring accumulation by whales.
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.
- Bonk (BONK)
Bonk (BONK) has experienced substantial growth recently with a 2.76% price increase in the last 24 hours and a 39.25% rise this week. This upsurge has been fuelled by various factors such as Bonk’s listing on major exchanges, increased interest and spotlight on meme coins, and marked growth in the Solana ecosystem where Bonk is based. Despite some market volatility, Bonk has shown resilience, hinting at a promising future. Predictions suggest further potential surges, though the recent correction has sparked a healthy debate.
Read more on: crypto.news, fxstreet.com - Mantle (MNT)
The Mantle coin (MNT) seems to be on a surge as its price elevated by +16.69% in the last 24 hours, and an impressive +29.20% this week. Positive sentiment around U.S. taxation reform hinted by presidential aspirant Ron DeSantis could be fueling this upsurge. Additionally, the Chinese authorities crackdown on a multi-billion illegal forex operation might be redirecting investors to legitimate platforms, benefiting Mantle’s growth.
Read more on: investorsobserver.com, nftnow.com - Ethereum Name Service (ENS)
The Ethereum Name Service (ENS) coin has seen remarkable growth, with an increase of +23.96% in the last 24 hours and +27.27% this week. This surge is attributed to several factors, including the rise in market interest towards decentralised finance tokens, substantial token burns boosting value, and integrations with successful blockchain projects. Moreover, the anticipated approval of spot Bitcoin Exchange-Traded Funds (ETFs) has also contributed to an optimistic trading environment. Despite the uncertainty of regulatory outcomes, investors remain enthusiastic. Furthermore, notable transfers of cryptocurrency to investment platforms suggest an increased willingness for large-volume trading by key stakeholders.
Read more on: investorsobserver.com - Rocket Pool (RPL)
Rocket Pool (RPL) is generating interest because of increasing potential for a positive future, propelling the coin’s value up by +17.04% in the last day and +23.46% over the week. News about an international version of Binance indicates that RPL’s trading pair might be discontinued, which could disrupt trading patterns though. Still, RPL also showed remarkable double-digit growth triggered by Ethereum’s price spike, indicating a positive correlation that could drive RPL’s price higher.
Read more on: unchainedcrypto.com - Helium (HNT)
Helium (HNT) demonstrates substantial potential for growth, showing positive market movements with an increase of +4.26% in the last 24 hours and +21.96% this week. Despite some fluctuations and temporary retracements, market sentiment is optimistic, recognizing HNT’s groundbreaking decentralization tech and appreciating its successful mining undertakings. The rise in Helium’s value is also fueled by increased demand, enhanced by its stellar performance alongside top-performing coins in 2023 and positive price predictions eyeing the $10 mark and beyond.
Read more on: themerkle.com, coingape.com, cryptonews.com - Lido DAO (LDO)
Lido DAO (LDO) has experienced a significant uptick, attributing solid reasons behind its price surge. Notably, a strong market optimism around staking, Lido’s dominance in the liquid staking sector and the coin becoming a top gainer have fueled LDO’s price rally. However, the increasing interest from traders, recognition from industry analysts, and observed whale activity have further boosted the coin’s performance. Collectively, these factors have led to a significant price movement of +2.71% in the last 24 hours and +21.75% over the past week.
Read more on: cryptotimes.io, coingape.com, coinpedia.org
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