Continuing Altcoin Slump encourages traders to invest in Bitcoin's Pre-Sale, identifies top Cryptocurrency for purchase at present
In the ever-evolving world of cryptocurrency, the market has seen a mix of gains and losses over the past week. Here's a roundup of some key developments.
Leo Token, a prominent player, has emerged as the second biggest gainer, recording a 1.2% rise today and a significant 4% increase this week. OKB, on the other hand, has been the week's biggest gainer, with a 2.7% increase today and an impressive 25.2% gain this week.
Bitcoin Hyper, a Bitcoin layer 2 blockchain currently in a presale, continues to attract record-breaking inflows. Over the past 24 hours, about $300,000 has been poured into Bitcoin Hyper, adding to the $10.8 million it has raised so far in its presale, with $1 million coming in within the past three days.
Meanwhile, the Federal Reserve has made a move that could potentially impact the crypto market. The central bank has cut interest rates by 25bps, a decision that some analysts believe could devalue the dollar, sending cryptocurrencies to new all-time highs.
The Federal Reserve's decision comes as markets brace for a potential rate cut, with XRP, BNB, and Hyperliquid surging in anticipation. However, Ethereum has experienced a 2% drop in the past 24 hours, bringing its price down to $4,200, and a 10.7% weekly selloff.
In other news, CME Group will launch options on XRP and Solana futures, and DBS Bank will offer institutional investors tokenized structured notes on Ethereum.
The cryptocurrency sector has also seen its fair share of challenges. Hackers have seized the FBI's botnet takedown targets and built a stronger cyberweapon from it. Additionally, one user lost $1M USDC to a MEV bot after a mistaken transaction.
On a more positive note, American oilfield giant Weatherford has grown its Russia business despite Trump's sanctions. And in a surprising turn of events, a golden Trump statue holding Bitcoin has appeared outside the U.S. Capitol.
In the UAE, an M2 crypto exchange has dropped its business model. Meanwhile, Ethereum's boss, Vitalik Buterin, presented a new roadmap at the Japan Dev Conference.
Lastly, XRP, Dogecoin ETFs are set to launch this week, adding to the diversity and potential growth in the crypto market. Despite the recent market fluctuations, the cryptocurrency sector continues to show resilience and innovation.
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