Story Highlights:
Bitcoin Pre-halving buzz
Over the last seven days, a series of noteworthy events surrounding Bitcoin have unfolded. A new theory about Satoshi’s Identity highlighted three researchers and provided compelling evidence to pique global attention. As the BTC token approached its halving date, ripple effects spread across the cryptocurrency market, and this week the cryptomarket witnessed turbulent changes.
Bitcoin’s token price movement mirrored an extremely volatile move, which was attributed mainly to the BTC halving. Investors continue to closely monitor the token, as it shows corrections and consolidations during its pre-halvingphases.
On the contrary, it appears that Bitcoin minerare rushing to produce more BTC in anticipation of the event. This makes the mining process harder than ever. BTC whales continue to accumulate BTC with no signs of selling off, which could pave the way for massive selloffs after halving. The most important event this week for BTC is Hong Kong approving Spot bitcoin ETFs. Hong Kong could allow ETFs for Bitcoin and Ethereum by Monday. This is fueling an excitement among participants in the crypto markets.
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Binance Sparks Speculations
Binance, the world’s leading cryptocurrency exchange, embarked upon a plethora of cryptographic-related chronicles this week that nabbed significant investor attention. Richard Teng, CEX CEOrevealed that Binance was looking to open a new headquarters in the near future. The firm is currently in discussions with several countries about possible locations. The firm made this decision to show its efforts in addressing concerns of regulators and courts about the exchange’s lack of headquarters despite handling large trading volumes. The exchange also revealed that it plans to stop trading certain crypto tokens including Uniswap, Optimism, and BakeryToken, . CEX announced that it would also be expanding support for Pepe Coin, Jupiter Exchange, Ethena, and Dogwifhat. Binace Launchpool also integrated Omni Network (OMNI), as its 52nd Project this week. It aims to revolutionize Ethereum scalability.
Read also: EigenLayer Crypto’s Biggest Project this Year Removes LST caps, Unpauses Restaking Deposits.
Whales Make Inferences.
Noteably, the whales are back in action across the entire crypto market as prices of cryptocurrencies fluctuate due to the BTC halves. Whales are accumulating more Bitcoin, but other tokens have also seen a lot of whale activity in the last seven days. These include Dogecoin, XRP, Shiba Inu, Ethereum, XRP and others.
Read also: Ben Armstrong is optimistic about the Bitcoin price rally to $100K, despite the crash
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