Biggest Crypto News of the Week: Bitcoin, Binance, Ethereum, Solana, and Ripple
Between groundbreaking announcements, technological advancements, and regulatory turbulence, the crypto ecosystem continues to prove that it is both a limitless territory of innovation and a battlefield of regulatory and economic conflicts. Here is a summary of the most notable news of the past week surrounding Bitcoin, Ethereum, Binance, Solana, and Ripple.
1️⃣ Mt. Gox: Creditors’ Reimbursement After Ten Years
Mt. Gox, once the top Bitcoin exchange, is finally starting to reimburse creditors after a decade. With 47,288 BTC already transferred for repayments, this news caused a market shake-up, leading to $675 million in liquidations in 24 hours due to the sale of reimbursed BTC.
2️⃣ ETH Introduces EIP-7732
Ethereum developers proposed EIP-7732 to improve block validation. This proposal, supported by Vitalik Buterin, aims to increase transaction efficiency and speed. It could strengthen Ethereum’s position but requires a full network upgrade.
3️⃣ Market Panic: BTC and ETH Collapse
Bitcoin and Ethereum saw sudden drops of 8% and 10% respectively, causing $580 million in liquidations. The Mt. Gox reimbursement and the sale of Germany’s Bitcoin holdings fueled the sell-off. This increased volatility left the market’s short-term outlook uncertain.
4️⃣ Solana’s Memecoin Surge
Solana's memecoins, like Dogwifhat (WIF), Bonk (BONK), and Billy (BILLY), have shown impressive gains. Solana surpassed Ethereum by 800% in memecoin growth this year, thanks to its strong developer community and celebrity support.
5️⃣ Ripple and Binance vs. SEC
Ripple is teaming up with Binance to strengthen its defense against the SEC. Recent court decisions favoring Binance have bolstered Ripple’s argument for clearer crypto regulations, challenging the SEC’s approach of regulating through litigation.
Disclaimer: This post is for informational purposes only and should not be taken as financial advice.
