Bitcoin and cryptocurrencies ended the week strongly, and the overall market rose 11. 9% over the past seven days.
However, the rally will slow down.
Bitcoin is trading below its recent high of $40,917. 55, turning hands to $38,802 at 9:04 a. m. ET, down 2. 4% in the past 24 hours but up 20. 2% on the week, according to Coinbase. more than 40,000 expired feature contracts per month worth $1. 6 billion.
Ether and the other members of the 10 most sensitive also remain stable. The local Ethereum token is at $2,338, with a yield of 2. 05% on the day. BNB, Cardano and XRP are respectively -1. 7%, -1. 8% and 1. 9%.
“The existing bitcoin market is at least in a sideways state and is about to enter a phase of falling over value, with a total value of $37,000,” writes Philip Gradwell, lead economist at blockchain intelligence and analytics company Chainalysis. investors have been buying more and more over the past week, which has returned their assets to mid-May levels.
Among the main players of the day is Solana, who posted gains of 7. 5% in 24 hours. Recently, the ecosystem has noticed many developments. Yesterday, Solana-based solid currency exchange Sabre raised $7. 7 million from leading investors, adding billionaire Chamath Palihapitiya’s percentage of capital. , Jump Capital and the Solana Foundation, and last month blockchain developer Solana Labs raised $314. 15 million in a round of personal tokens through Andreessen Horowitz (a16z) and Polychain Capital.
In the broader market, the world’s largest cryptocurrency exchange, Binance, is preparing to scrap futures and derivatives across Europe, starting with Germany, Italy and the Netherlands, according to the company’s statement on Friday. be able to open new accounts for those products, while existing accounts will have to be closed by a date to be determined. Buoyed by regulatory pressure, Binance announced plans to suspend crypto margin exchanges involving the Pound Sterling, euro and Australian dollar before this week The inventory market is also restricting leverage on its platform from 100x to 20x.
Meanwhile, Binance. US, led by Brian Brooks, former head of the U. S. Office of the Comptroller of Currency (OCC). U. S. , It is taking concerted action to achieve its independence from its troubled namesake.
I’m doing a report on cryptocurrencies and using blockchain instances. Born and raised in Russia, I graduated from NYU Abu Dhabi with a bachelor’s degree in Economics and Colombia.
I’m doing a report on cryptocurrencies and instances of emerging blockchain use. Born and raised in Russia, I graduated from NYU Abu Dhabi with a bachelor’s degree in Economics and graduated in journalism from Columbia University, where I focused on knowledge and business reporting.