Weekly Crypto Roundup: Bitcoin, Ethereum & More Shocking News!
12h35 ▪ 6 min read ▪ by
In a week bursting with groundbreaking announcements, tech breakthroughs, and regulatory shake-ups, the crypto universe proves it’s a realm of infinite innovation and a hotbed of economic debates. Buckle up as we dive into this week’s highlights surrounding Bitcoin, Ethereum, Binance, Solana, and Ripple—essential reading for any crypto enthusiast!
Bitcoin Takes a Breather, Altcoins Soar!
Bitcoin made waves with a staggering 9% surge last week, yet its reign in the crypto kingdom is showing signs of weakening, dipping from 62% to 59% market dominance in just 48 hours. This shift ignites the potential for an “altseason”—a thrilling time when altcoins like Stellar (XLM), Ripple (XRP), and Polkadot (DOT) shine brighter than Bitcoin. Powerhouses like Elon Musk and Larry Fink are rallying behind this crypto ecosystem, fueling excitement and encouraging investors to diversify into alternative cryptocurrencies.
🔗 Dive into the full story here
Ethereum’s Inflation Rate Makes Headlines
Ethereum finds itself at a crossroads as inflation rates spike to 0.35%, swelling its total supply to an eye-watering 120.4 million ETH. The culprit? The recent Dencun upgrade rolled out in March, introducing complex innovations like proto-danksharding designed to enhance data availability while trimming base fees. However, with 78,676 new tokens minted in just a month, and the burning of 45,022 ETH barely making a dent, concerns about the sustainability of Ethereum’s monetary policy are surfacing—especially as staking grows with 34.7 million ETH locked up.
Binance Gears Up for the Upcoming Bull Run
With crypto adoption on the rise, Binance is gearing up for an exhilarating Bull Run. The exchange plans to bolster its compliance team by 34% by year’s end, reaching a total of 645 employees, and enhancing its risk management squad, which is nearly fully staffed. This proactive approach aims to navigate the complex landscape of global regulations while ensuring the safety of its 240 million users. Despite regulatory hurdles from the SEC, Binance stands strong, focusing on quality and expertise to uphold security and foster sustainable growth in the crypto arena.
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Bitcoin Eyes a $2.5 Trillion Market Cap Before January
Bitcoin is on a roll, recently hitting $98,500 after a jaw-dropping 45% climb since early November. While fluctuations are part of the game, predictions are looking bright: analysts suggest there’s a 95% chance BTC could soar past the $100,000 milestone before the year wraps up. Some bold predictions even hint at a 13% likelihood of reaching $150,000 by the end of 2024. If these projections hold true, Bitcoin’s market cap could skyrocket to over $2.5 trillion, marking a stunning 42% increase from its current $1.95 trillion. Still, the unpredictable market keeps traders on their toes, swinging between excitement and caution.
Solana Hits Record High of $264.31
On November 22, Solana (SOL) achieved a remarkable milestone, reaching a historic high of $264.31, an 11% rise in just 24 hours. This surge stands testament to Solana’s resilience, especially following the setbacks from the FTX collapse two years ago. The recent spike is attributed to Solana overtaking Ethereum in transaction volume on decentralized exchanges, driven by its efficiency and cost-effectiveness. With technological innovations and strategic partnerships in play, plus the potential for a Solana ETF approval by the SEC, the buzz around Solana continues to grow.
Gary Gensler Announces His Departure from the SEC
In a significant shake-up, SEC chairman Gary Gensler confirmed his departure will take place on January 20, 2025. His tenure, which began in April 2021, has been characterized by stringent crypto regulations and major reforms impacting the American Treasury markets. While his strict stance has faced backlash, particularly from the crypto community, his exit opens the door for a potentially more crypto-friendly regulatory environment—especially in light of Donald Trump’s anticipated election.
Conclusion
So there you have it—a whirlwind week in the crypto world. For those looking to dive deeper into the trends and analysis, feel free to subscribe to our weekly newsletter and stay ahead of the curve.
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A graduate of Sciences Po Toulouse and a certified blockchain consultant from Alyra, I joined the Cointribune team in 2019. I am passionate about the potential of blockchain to transform various sectors of the economy, and I strive to educate the public about this ever-evolving ecosystem. My mission is to empower everyone to grasp blockchain technology and seize the opportunities it presents. Every day, I aim to provide objective analyses of current events, unpack market trends, highlight the latest technological innovations, and contextualize the economic and societal implications of this ongoing revolution.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author and should not be interpreted as investment advice. Always conduct your own research before making any investment decisions.
