Bitcoin, Binance, Ethereum, Solana, and Ripple: The Biggest Crypto News of the Past Week – Cointribune EN

12h00 4 min of reading by Luc Jose A.

Between revolutionary announcements, technological evolutions, and regulatory turbulence, the crypto ecosystem continues to prove that it is both a territory of limitless innovations and a battleground of regulatory and economic issues. Here is a summary of the most significant news from the past week around Bitcoin, Ethereum, Binance, Solana, and Ripple.

The Industrial and Commercial Bank of China (ICBC), the worlds largest bank by assets, recently published a groundbreaking report that compares Bitcoin to digital gold and Ethereum to digital oil. Bitcoin is praised for its scarcity and robustness, thus becoming a safe haven similar to gold. Ethereum, on the other hand, is recognized for its central role in powering Web3 applications and programs, as well as its continuous technological innovations in security, scalability, and sustainability. This recognition marks a significant step in the acceptance of cryptos by traditional financial institutions and underscores their growing importance in the global economy.

Solana Pay has expanded its plugin for Shopify, now allowing the acceptance of over 100 cryptos. This update, facilitated by Helio, offers merchants a decentralized payment solution with reduced fees, including real-time conversion to stablecoins like USDC, EURC, PYUSD, and USDY. The plugin aims to integrate millions of merchants into crypto commerce, improving the payment experience, loyalty programs, and Web3 features. With competitive transaction fees at 0.75% and an on-ramp via the Helio dashboard, Solana Pay simplifies the mass adoption of crypto payments, making transactions faster and more flexible for Shopify users.

The United States Federal Reserve (Fed) announced the maintenance of its monetary policy, planning only a quarter-point rate cut before the end of the year. This decision, disappointing to investors hoping for several reductions, has generated an atmosphere of uncertainty around Bitcoin. Regarded as an inflation hedge, Bitcoin reacts strongly to the Feds monetary policies. A restrictive policy strengthens the US dollar, exerting downward pressure on Bitcoins price, while a rate cut could reverse this trend. In the short term, Bitcoins moderate volatility suggests that the market had anticipated this decision. However, the long-term outlook remains complex, as future rate cuts might signal a recession, prompting investors to turn to safe-haven assets like Bitcoin.

The SEC chairman, Gary Gensler, recently reignited investors hopes by suggesting that Ethereum ETFs could receive final regulatory approval by the end of summer. This prospect promises to facilitate investment in Ethereum, the second-largest crypto by market capitalization. Several major financial players like VanEck and BlackRock have already received initial approval for their Ethereum ETFs, and a final validation would allow these new products to be traded on the markets. Analysts anticipate a positive impact on the crypto market, supported by signs of slowing US inflation and a possible easing of monetary policy. Despite the current market volatility, the approval of Ethereum ETFs could usher in a new era for digital assets and financial markets.

Thats the essential to remember for this week. But if you want a more detailed recap and in-depth analysis directly in your inbox, do not hesitate to subscribe to our weekly newsletter.

Maximize your Cointribune experience with our 'Read to Earn' program! Earn points for each article you read and gain access to exclusive rewards. Sign up now and start accruing benefits.

Diplm de Sciences Po Toulouse et titulaire d'une certification consultant blockchain dlivre par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'conomie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet cosystme en constante volution. Mon objectif est de permettre chacun de mieux comprendre la blockchain et de saisir les opportunits qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualit, de dcrypter les tendances du march, de relayer les dernires innovations technologiques et de mettre en perspective les enjeux conomiques et socitaux de cette rvolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

See the original post:

Bitcoin, Binance, Ethereum, Solana, and Ripple: The Biggest Crypto News of the Past Week - Cointribune EN

Related Posts

Comments are closed.