The crypto market wheels spun round and round through frequent price dips, major developments, liquidations, ETF moves, celebrity token launches, and much more. As the market cups its chin in its hands, waiting for the US Fed interest cut, crypto traders are watching for a significant price change in Bitcoin and other altcoins.
Bitcoin dips to $108K
Last week, the crypto market was swinging back and forth, within the $108 -$115 price range, amid mixed incidents like $15 billion worth of options expiry, faded hopes for aggressive rate cuts, massive whale sell-off, and amplified selling pressure. A the time of reporting, BTC was trading at $108,760.
Solana Policy Institute backs Tornado Cash developers
The Solana Policy Institute (SPI), a nonprofit organization advocating for blockchain and legal clarity in crypto, donated $ 500,000 to support legal defense funds for Tornado Cash developers Roman Storm and Alexey Pertsev. Storm and Pertsev are two of the developers who developed Tornado Cash, which was subsequently exploited by malicious actors. However, arguments have arisen as the US authorities allege that the developers facilitated money laundering by allowing criminals to use the protocol. Meanwhile, supporters argue that the developers merely wrote the code and cannot be accused of exploitation.
Celebrity tokens on SOL face a dip
More than thirty celebrity tokens launched on the Solana blockchain in 2024 reportedly nosedived by nearly 73%.
21Shares files with the SEC for an SEI ETF
Crypto investment firm 21Shares has filed for an SEI Exchange-Traded Fund (ETF) launch with the Securities and Exchange Commission (SEC).
Offshore crypto gets green light in the US
The U.S. Commodity Futures Trading Commission (CFTC) issued a new advisory enabling the US crypto traders to access offshore crypto exchanges.
Ether eyes the moon by year-end
Market research firm Fundstrat signalled a bullish forecast, predicting Ethereum could reach between $12,000 and $15,000 by the end of this year.
Bitcoin < Gold: JPMorgan
JPMorgan analyst showed up, saying Bitcoin is undervalued compared to Gold.
Medical device company, Sharps Technology, has closed a $400 million private investment aimed at launching the Solana treasury strategy.
Besides these overwhelming crypto news, the market went through notable shifts: Kanye West’s YZY token crashed, the US uploads GDP data on blockchain, Binance resumes futures trading, MetaMask’s social login feature, and a whole lot more.
More to come, more to develop, and more to impact as crypto never sleeps. Hold on tight as you travel through crypto space to know more and learn more about crypto.
