Meanwhile, Ethereum achieved a milestone by reaching the $3,000 level for the first time since April 2022. The speculation surrounding the potential approval of Ether exchange-traded funds (ETFs) in May played one of factors driving the recent surge in Ethereum’s price.
In a noteworthy development, Reddit has divulged its strategic investment in Bitcoin (BTC), aligning itself with the likes of MicroStrategy and Tesla in acquiring digital assets. Additionally, Reddit disclosed the inclusion of Ether and MATIC in its portfolio, accepting them as forms of payment for certain virtual goods. Furthermore, Reddit has filed with the U.S Securities and Exchange Commission (SEC) for a listing on the New York Stock Exchange under the ticker symbol ‘RDDT’.
The recent airdrop of STRK tokens on Starknet saw an impressive uptake, with over 70% of the newly distributed tokens claimed within the initial 24 hours. A staggering 490,000 individual users participated in claiming 420 million tokens, resulting in a record-breaking 1.06 million daily transactions on Starknet, reaching 45.2 transactions per second during the peak of the airdrop claim.
In Hong Kong, a government official reiterated the administration’s commitment to passing legislation pertaining to stablecoins and over-the-counter (OTC) services for virtual assets. This statement followed the public consultation period announced in December by the Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) regarding stablecoin regulations. Notably, the city has also issued guidelines for firms providing crypto custodial services and is exploring the potential approval of spot bitcoin exchange-traded funds (ETFs).Coming to the price action, among the top 100 cryptos by market cap, here are the best and worst-performing cryptos over the past week:As per prices on Friday.
Top 5 crypto gainers during the week:
1. Worldcoin is up by 110%
2. SingularityNET is up by 90%
3. Siacoin is up by 67%
4. Fetch.ai is up by 55%
5. The Graph is up by 43%
Top 5 crypto losers this week:
1. Sei is down by 16%
2. THORChain is down by 16%
3. Starknet is down by 13%
4. Helium is down by 12%
5. Arbitrum is down by 12%
(The author is CEO & Co-founder of Mudrex, a Global Crypto Investment Platform)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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