Crypto News Roundup
If you’ve been following the crypto space this week, you’ll know that Exchange-traded funds (ETFs) have been the hot topic. Price fluctuations, due to expected approvals, new applications, and fake applications, left US investors exhausted. Meanwhile, those outside the United States are considering Bitcoin (BTC) halving prospects.
Schiff Predicts Early Bitcoin Crash
Investment manager BlackRock filed applications for two crypto funds, one of which was not genuine. This fake application for an XRP Trust resulted in $6.5 million in liquidations. Meanwhile, a similar application for an Ethereum ETF briefly lifted the asset’s price.
Bitcoin Halving Could Return 2,500%
The US Securities and Exchange Commission’s (SEC) decision to defer the ruling on the approval of spot Bitcoin exchange-traded funds disappointed investors. At the same time, social media was abuzz with Bitcoin ETF activity. Bitcoin skeptic Peter Schiff ran a Twitter poll asking when Bitcoin would crash, indicating a negative outlook.
Ripple XRP Liquidations Top $6 Million
XRP investors were hit hard following the false filing notice from BlackRock for a Ripple XRP Trust in Delaware. Although BlackRock confirmed it was fake, uncertainty remains about how it happened. The price of XRP experienced a brief spike followed by a fall.
Crypto – Socially Speaking
A Chinese board game company, Boyaa, committed $100 million to buy Bitcoin, Ethereum, USDC, and Tether. This move aligns with Hong Kong’s long-standing favoritism of Web3 and might tap into Asian play-to-earn communities that trade in-game items over the blockchain.
China Web3 Ambitions in Full View
The Cardano team announced a development to give developers efficient access to Cardano blockchain data. This is a significant step as the network grows and has more than nine million blocks. Cardano leads global blockchain development activity and is ahead of Polkadot and Kusama. The new tool will be built using the high-level programming language called Java.
Top 10 Crypto Performers This Week
Finally, the week saw various crypto performers, and current market trends were outlined to provide a full picture of the events. So, what do you think about the biggest news in crypto this week? If you have something to say, please write to us or join the discussion on our Telegram channel. You can also catch us on TikTok, Facebook, or Twitter.
Hot Take
This week was exhausting for US investors, as ETF rumors, fake applications, and price fluctuations dominated the crypto space. But for those who are focused on Bitcoin halving prospects, the potential for 2,500% returns offered some reprieve. The uncertainty caused by false filings and potential scams serves as a reminder of the volatility within the crypto market.
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