Top stories this week
- Major Hack on Japanese Crypto Exchange DMM Bitcoin
Japanese cryptocurrency exchange DMM Bitcoin was recently hacked, resulting in the theft of $305 million worth of Bitcoin. The exchange has pledged to repay affected users and plans to raise $320 million to recover funds. - Mastercard’s New Crypto Credential Service
Mastercard has launched its ‘Crypto Credential’ service aimed at simplifying Bitcoin transactions. This new service will replace wallet addresses with usernames to make cross-border crypto transfers easier and drive broader crypto adoption. - PayPal’s PYUSD Stablecoin Expands to Solana
PayPal has announced the expansion of its stablecoin PYUSD to the Solana blockchain. This move is expected to offer cheaper and more efficient transaction options for users. - Singapore’s DBS Bank Identified as Major Ethereum Whale
Nansen has revealed that Singapore’s largest bank, DBS, holds approximately $650 million in Ethereum. This positions DBS as a significant player in the Ethereum market. - Bitcoin Struggles to Break $72,983 Resistance
Bitcoin has failed to break through the crucial resistance level of $72,983. Although the price remains stable around $69,000 due to strong demand, the next rally may be delayed. - Terrain Labs and Do Kwon Settle with SEC
Terraform Labs and its founder Do Kwon have reached a preliminary settlement with the SEC over fraud charges related to the collapse of TerraUSD. Specific terms of the settlement are yet to be disclosed. - Ark Invest Withdraws Ethereum ETF Application
Ark Invest and Hashdex have both withdrawn their applications for Ethereum ETFs. This decision follows the SEC’s approval of competing proposals, signaling regulatory challenges for Ethereum ETF filings. - Ripple CEO Predicts ETFs for XRP, Solana, and Cardano
Ripple CEO Brad Garlinghouse has stated that ETFs for XRP, Solana, and Cardano are ‘inevitable’. He believes these ETFs will soon follow the approval of Bitcoin and Ethereum ETFs.
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.
MANTRA (OM)
The price of MANTRA (OM) has witnessed a significant increase of +2.07% in the last 24 hours and an impressive +37.85% this week. This bullish movement can be attributed to recent strategic partnerships and innovative developments within the MANTRA ecosystem. Additionally, heightened investor interest driven by the project’s utility and robust community support has contributed to the positive price momentum.Brett (BRETT)
BRETT (CRYPTO: BRETT) has been making waves in the crypto market with its rapid ascent, surpassing a $1 billion market capitalization in just a few months since its launch. The coin has seen a 29.61% increase this week alone, partly due to its strong performance on the Base Blockchain’s ecosystem, and maintaining popularity despite a general dip in the memecoin market. Investors are optimistic about BRETT’s future, as it continues to outperform older and more established memecoins.Stacks (STX)
Stacks (STX) has seen a remarkable price increase, up +13.25% in the last 24 hours and +22.17% this week. A significant factor in this growth is the launch of a Grayscale investment trust for Stacks, attracting more institutional and individual investors. Additionally, growing interest in Layer-2 solutions and a surge in active projects utilizing Stacks’ technology are contributing to its rising value and investor enthusiasm.FLOKI (FLOKI)
FLOKI has experienced a remarkable price surge of +5.48% in the last 24 hours and an impressive +19.27% this week, driven largely by several bullish developments. Among these are strategic moves such as integration into Coinbase perpetual futures, extensive marketing campaigns, and the introduction of a new Telegram-based trading bot. Additionally, significant investments like the $12 million injection from DWF Labs, a successful 15.2 billion token burn, and the launch of staking and play-to-earn features have fueled investor optimism and demand, contributing to the coin’s recent all-time highs.Monero (XMR)
Monero (XMR) has experienced a +3.76% price increase in the last 24 hours and a notable +14.18% rise this week. This surge is primarily driven by Monero’s resilience amidst exchange delistings and ongoing regulatory scrutiny, highlighting its robustness as a privacy-focused cryptocurrency. Additionally, Monero’s inclusion in lists of promising altcoins and its potential for further gains is attracting investor interest, contributing to its bullish trajectory.Axie Infinity (AXS)
Axie Infinity (AXS) has shown a notable increase of +5.99% in the last 24 hours and +12.92% this week, driven by exciting developments and positive market sentiment. Technical analysts and crypto traders are spotting major bullish breakout patterns, predicting potential surges up to 194% and a bullish trend with targets possibly reaching $22. Additionally, the end of Axie Infinity Origins Season 8 and upcoming Elite 8 tournament with giveaways is creating further buzz and optimism around the coin.
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