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May 22, 2024
PI Global Investments
Bitcoin

Bitcoin ETFs Advance, Binance & Terra Propel Speculations


In a noteworthy gust of developments, the crypto realm appears to be marking a tempest of strides as this week ends. With the recent inception of spot Bitcoin ETFs within the broader crypto market, market sentiments appear to be taking an exciting turn. Whereas, Binance, a crypto exchange prominency, issued several substantial notices for its users this week. Meanwhile, the Terra classic community fostered additional efforts to jack up the LUNC and USTC tokenomics.

Aligning with these, some of the top headlines that sparked curiosity across the crypto horizon are as follows:

Bitcoin ETFs’ Burgeoning Popularity

Another week ends since the inception of spot Bitcoin ETFs within the U.S. trading landscape. Market charts illuminate a colossal surge in the popularity of these ETFs promptly, post-inception.

Aligning with this, the net inflows continued to surge this week, followed by an upswing noted in the ETFs’ collective trading volume. BlackRock, Fidelity, and Bitwise appear to be corking the best ETF service providers list, attracting investors across the United States.

Meanwhile, Hong Kong is setting its sights on seeking approval for the nation’s first Bitcoin ETF. Venture Smart Financial Holdings Ltd, a financial services provider, shared plans for the same this week.

Binance Sparks Inferences

Binance, the world’s leading cryptocurrency exchange, issued several important notices to its users this week. The platform recently added Manta Network to its collection as Manta Pacific’s TVL surpassed $800 million. Furthermore, it added a DOGE perpetual contract to its collection, offering 75x leverage.

Notably, the firm also delisted specific BTC, ETH, and BNB spot trading pairs, and on the other hand, announced listing ETC, ENS, and TIA in FDUSD & USDC pairs. Simultaneously, the firm announced its debut in Thailand, facilitated by Gulf Binance.

With this, another week ends for Binance with a cyclone of breakthroughs witnessed.

Also Read: PulseChain’s TVL Doubles in 7 Days; What is Up With the Ethereum Fork?

Terra Classic Fuels Speculations

As per numerous reports by CoinGape Media over the past week, the Terra community appears to be building additional support for its tokens. The community recently revealed plans to introduce an “investigate EVM functionality” proposal. With this, Terra eyed an advanced station wallet, garnering significant attention globally.

However, the community refused the proposal following a voting chronicle. Aligning with this, Allnodes stated in a memo, “Even with a focus on a compiler only, the near-term cost for research and development, but also potential long-term maintenance cost remains unclear. An assessment of this should be done before considering a positive signal for funding.”

Meanwhile, the community also announced a core security package upgrade.

Also Read: India Budget 2024: A Comprehensive Guide To Complex Financial Terms



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