Top stories this week
- Terraform Labs Launches Claims Portal for Terra Crash Victims
Terraform Labs has launched an online portal for creditors affected by the TerraUSD and LUNA collapse. This portal will allow claimants to file their losses in the ongoing bankruptcy proceedings, with a reimbursement plan of $185 million expected by April.
- Trump Family Ventures into Bitcoin Mining with American Bitcoin
Eric and Donald Trump Jr. have taken a 20% stake in a new Bitcoin mining venture called American Bitcoin. This initiative, undertaken in partnership with Hut 8, involves the operation of 61,000 ASIC mining rigs.
- Elon Musk Debunks Rumors of U.S. Government Using Dogecoin
Elon Musk clarified that the U.S. government has no plans to adopt Dogecoin for any operations. This announcement led to a dip in Dogecoin’s value, indicating market reactions to his statements.
- GameStop Plans to Raise $1.3 Billion for Bitcoin Investments
GameStop is proposing to raise $1.3 billion through convertible debt issuance to increase their Bitcoin holdings. This move is seen as part of the retailer’s broader strategic pivot involving digital assets.
- Nasdaq Files for Grayscale Avalanche ETF
Nasdaq has submitted a filing to the SEC for the listing of Grayscale’s Avalanche (AVAX) Exchange-Traded Fund. This ETF would allow more traditional investors to participate in Avalanche’s development and value.
- Sei Foundation Explores Putting Genetic Data on Blockchain
The Sei Foundation plans to acquire 23andMe with an interest in integrating genetic data onto the blockchain. This move could potentially innovate the way genetic data privacy is managed and shared.
- BlackRock CEO Warns of U.S. Dollar’s Reserve Status at Risk
Larry Fink, the CEO of BlackRock, warned that the U.S. dollar’s status as a global reserve currency could be challenged by Bitcoin amid rising debt concerns. This highlights potential shifts in global economic power.
- Grayscale Moves to Launch Crypto Index ETF with Secure Asset Range
Grayscale has filed with the SEC to create a Digital Large Cap Fund ETF that includes various cryptocurrencies like XRP. This represents an effort to formalize crypto investment within mainstream financial markets.
- SEC Drops Major Crypto Lawsuits, Excluding Ripple Case
The SEC has dismissed lawsuits involving Kraken, ConsenSys, and Cumberland DRW, but notably omitted the Ripple case. This raises questions about regulation strategies and signals a potential shift in crypto legal focus.
- XRP Market Movement and Broad Cryptocurrency Trends
XRP has experienced a 7% decline, reflecting broader market fluctuations that also saw other cryptocurrencies like Dogecoin and Shiba Inu experiencing inversely positive trends over the past few days.
Hottest coins of the week
EOS (EOS)
The price of EOS has experienced a significant rise, jumping by 16.83% in the last 24 hours and a remarkable 37.61% over the past week. The recent surge is attributed to multiple factors, including a rebrand to ‘Vaulta’ and a strategic pivot towards Web3 banking, which have invigorated investor confidence. Furthermore, EOS’s strong bullish momentum has propelled it past a $1 billion market cap, making it one of the better-performing assets amidst a period of renewed interest and potential future growth in decentralized applications (dApps).
Grass (GRASS)
Grass (GRASS) has experienced substantial growth, with a 9.40% increase in the past 24 hours and a remarkable 22.03% rise this week. This surge is attributed to strong trend indicators and the potential of a golden cross, suggesting that the momentum behind GRASS may drive further gains. The coin’s rally to multi-week highs indicates robust market interest, although observers note that some cooling off might be on the horizon.
CARV (CARV)
CARV (CARV) has seen a notable price surge of +12.51% in the last 24 hours and +7.76% this week, attributed to the rising intrigue in ongoing airdrop strategies that are resonating well with the community. This innovative approach may be increasing investor confidence, suggesting potential growth opportunities despite fluctuating markets. The recent excitement around these developments could be a key factor driving the current increase in CARV’s price.
Pendle (PENDLE)
Pendle (PENDLE) has been innovating the decentralized finance (DeFi) space by enabling the trading of future yield, which has helped drive its recent price increase of 5.54% in the last 24 hours and 5.64% over the week. This unique approach involves utilizing advanced smart contracts and integrating seamlessly with other DeFi platforms, which appears to be attracting more investors as they seek to maximize their returns. These factors contribute to a favorable outlook for Pendle as a promising investment in the cryptocurrency market.
Infinitar Governance Token (IGT)
Infinitar Governance Token (IGT) has seen positive growth with a +6.70% increase in the last 24 hours, continuing its upward trend of +4.76% over the week. This price surge may be attributed to increased investor confidence and strategic partnerships that are enhancing the network’s utility. IGT’s technological advancements and community support seem to be driving optimism among traders, making it an attractive option in the cryptocurrency market.
JUST (JST)
The price of JUST (JST) experienced a notable increase, climbing +4.14% in the past 24 hours and +3.87% over the week. This positive movement is likely driven by a combination of favorable market conditions and increased investor interest. The cryptocurrency’s rise may be influenced by potential strategic partnerships and developments within its ecosystem, enticing traders looking for solid investment opportunities amidst a dynamic market landscape.
