Top stories this week
- London Stock Exchange Announces Launch of Crypto ETNs
The London Stock Exchange has announced it will launch exchange-traded notes (ETNs) for Bitcoin and Ether starting from May 28. - Bitcoin ETFs Experience Record Outflows
Bitcoin spot exchange-traded funds (ETFs) in the U.S. experienced record outflows, losing $740 million within three days. - SEC Postpones Decision on Ethereum ETF Applications
The Securities and Exchange Commission (SEC) has delayed its decision on Spot Ethereum ETF applications, creating uncertainty in the crypto market. - SEC Seeks $2B in Fines from Ripple
The U.S. Securities and Exchange Commission (SEC) is seeking $2 billion in fines and penalties from Ripple over alleged violations. - Ripple CEO Predicts SEC Losing Against Ethereum Lawsuit
Ripple CEO expresses confidence that the SEC will lose in its legal battle against Ethereum, similarly to its outcome with the XRP lawsuit. - Binance Ends Support for USDC on Tron Network
Cryptocurrency exchange Binance has discontinued its support for USDC on the Tron Network, following Circles’ decision to move away. - Nigeria Files Tax Evasion Charges Against Binance
Nigeria has filed charges against Binance for tax evasion after a detained executive escaped from custody. - ‘Rich Dad Poor Dad’ Author Encourages Bitcoin Investment
Author Robert Kiyosaki encourages people to buy as much Bitcoin as they can afford, instead of stocks and bonds.
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.
Ether.fi (ETHFI)
The Ether.fi token (ETHFI) attracted market attention for its variable performance recently. The token’s price fall post-debut on Binance and its large $210M airdrop reportedly led to market turbulence. However, its value managed to gain a significant boost, skyrocketing by up to 40% in a day, achieving an all-time high of $7.2. The massive 100.97% increase this week could be attributed to increased interest after the launch as well as the growing restaking activities on its platform. Long term prospects for the coin seem promising considering the noteworthy deposit of $480M by Tron founder Justin Sun, suggesting potential confidence in ETHFI.Core (CORE)
Over the past week, the Core coin has witnessed a strong upward momentum with an impressive 80.66% price surge. This bullish trend was primarily fueled by strategic financial initiatives undertaken by the Core Foundation, such as securing a $15 million funding for fostering global blockchain innovation. Moreover, Core’s advancements in blockchain technology and it’s pivotal role in underpinning the infrastructure of the crypto realm have further solidified its growing influence, fostering investor confidence.Mantle (MNT)
The soaring price of the Mantle (MNT) coin, with a remarkable increase of 26.78% in the last 24 hours and 46.81% this week, is attributed to a few key factors. The Layer 2 Blockchain coin reached a new all-time high following its listing on a Korean exchange – Upbit, coupled with the launch of a new rewards system. Moreover, MNT’s performance was bolstered by the unstable situation on KuCoin, causing investors to shift greatly towards Mantle.Gate (GT)
Gate (GT) is gaining traction as its price saw a sharp increase of +18.36% in the last 24 hours and a whopping +45.50% this week. User demand for the coin soared after Gate.io widened its trading options for GT, delivering new opportunities for holders. The strength shown by the GT token in the market indicates that investors see potential in its performance and are keen to join the rally.
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