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.
1ïžâŁ Mt. Gox: Creditorsâ 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.
2ïžâŁ 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 Ethereumâs position but requires a full network upgrade.
3ïžâŁ 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 Germanyâs Bitcoin holdings fueled the sell-off. This increased volatility left the marketâs short-term outlook uncertain.
4ïžâŁ Solanaâs 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.
5ïžâŁ 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 Rippleâs argument for clearer crypto regulations, challenging the SECâs approach of regulating through litigation.
Disclaimer: This post is for informational purposes only and should not be taken as financial advice.