Welcome to the latest review of key cryptocurrency market news from the Tradex.by team! We have compiled all the most important and interesting events that have taken place in the industry over the past week.
Bitcoin: new high and institutional demand
- Bitcoin (BTC) set a new historical record, exceeding $111,000 for the first time, but then corrected and settled just below $110,000.
- Institutional players continue to build up their positions: MicroStrategy (MSTR) purchased another 4,020 BTC for $427 million, bringing its total holdings to 580,250 BTC.
- Spot ETFs on Bitcoin and Ethereum continue to see net capital inflows, supporting the bullish sentiment in the market.
Altcoins and DeFi: growth, volatility, and new records
- Dogecoin (DOGE) and Cardano (ADA) are the leaders among the top 10: DOGE rose 6.4% in a day, ADA rose more than 3%.
- Shiba Inu (SHIB) was notable for its volatility, but recovered by the end of the week, setting a new resistance level.
- Uniswap (UNI) showed growth amid record transaction volumes ($73 billion per month).
- Hyperliquid became the top grower of the week in the top 100 (+48% in 7 days).
DeFi news, regulation, and security
- Thai banks are preparing to launch custodial services for cryptocurrencies, while a bill on stablecoins is being discussed in the US.
- China tightens restrictions on cryptocurrency storage.
- Major hack of decentralized exchange Cetus: hackers stole $223 million, but some of the funds were frozen.
- Investors file class action lawsuits against Coinbase after stock decline and data leak.
Technologies and new products
- VanEck launches an Avalanche-based fund, Binance adds a new stablecoin, USD1.
- Solana Mobile is preparing to launch the second generation of Seeker smartphones with its own token.
- $451 million in positions were liquidated in one day, of which $262 million were short positions.
Trends of the week
- Institutional investors are returning to the market, and interest in DeFi and AI projects is growing.
- Memecoins and altcoins are back in vogue, but technological innovation and project reliability are coming to the fore.
- Regulation is becoming an increasingly important factor for the market.
Follow the news, analyze trends, and don't forget about the risks! The cryptocurrency market is dynamic, and timely information is your main tool for making decisions. Stay with Tradex.by to always be in the know!
*Note: Digital tokens are not legal tender and are not backed by the government. The purchase of tokens involves the risk of complete loss of funds and other civil rights transferred in exchange for tokens, including due to the volatility of their value, technical failures, errors, or illegal actions, including theft.