Crypto market rally: The crypto market experienced a significant rally, attributed to increased institutional interest and investment.
Bitcoin (BTC) surpassing $31,000 after months has sparked concerns about its future trend and the possibility of a price correction.
Ethereum updates: Ethereum developers are considering raising the maximum stake for validators to 2048 ETH per validator.
This proposal has sparked mixed reactions, as it could make Ethereum more centralized but also more convenient for institutions.
Additionally, concerns have arisen regarding Ethereum’s origins and its connection to Wang Xiang Blockchain, a Chinese non-profit organization believed to have ties to the Chinese Communist Party (CCP).
Stablecoin concerns: TrueUSD (TUSD) faced speculation about its ability to mint and redeem due to issues with Prime Trust, a US crypto custodian.
TUSD denied any exposure to Prime Trust and assured the community that it has multiple banking partners for stablecoin services.
Regulatory scrutiny and offshore banking arrangements have raised concerns about stablecoin stability, with USDC considered the safest due to its backing by BlackRock.
Bitcoin ETF frenzy: Asset managers, including BlackRock, have lined up with spot Bitcoin ETF applications, following the SEC’s approval of a leveraged futures Bitcoin ETF.
This development could have implications for BTC and signal increased institutional interest in cryptocurrency.
Top-performing cryptos: A closer look was taken at last week’s top-performing cryptocurrencies and their potential future trajectories.