Another Huge Week For Crypto! Key Developments For Bitcoin ETFs, XRP, Solana, And More
11/29/2024 06:47
We have a quick roundup of the top crypto headlines from Thanksgiving week! Major updates include the XRPL’s listing on Dexscreener, a dip in Bitcoin ETF inflows, and some big moves from Trump and Tron founder Justin Sun. Also, Morocco is preparing to unban crypto, and Solana and Coinbase’s Base network are setting new records. Meanwhile, Avalanche launched its largest upgrade, and Chainlink continues to play a crucial role in DeFi and tokenization.
We have some of the top crypto things you might have missed during Thanksgiving week!
The XRP Ledger (or XRPL) just got listed on Dexscreener, a top platform for decentralized trading insights. This move makes it easier for traders to track and analyze XRPL, plus, they now get to trade XRP memecoins.
Most of the crypto market was down earlier this week, and it could be due to the streak of inflows for spot Bitcoin ETFs coming to an end with $438 million in outflows on Monday. Key players like Bitwise’s BITB and Grayscale’s GBTC led the withdrawals, while BlackRock’s IBIT had positive flows with $267.8 million in inflows. Despite the dip to $94,500, Bitcoin trading volume reached $5.6 billion.
Donald Trump is reportedly holding $5.4 million in crypto, mostly Ethereum. And Tron founder Justin Sun is making headlines again, this time with a $30 million investment in World Liberty Financial, Trump’s family DeFi project.
Morocco is rewriting its crypto rules. After banning crypto in 2017, the country is now drafting a law to regulate them and make them legal. This comes at a time when the central bank is exploring a potential CBDC.
Some bullish news for SOL now, with Solana hitting a record 54 million daily transactions. Coinbase’s Base network isn’t far behind, clocking in at 9.1 million daily transactions. (30x growth since January!)
Pump dot fun’s livestream feature was temporarily deactivated following backlash due to certain streams. In a statement, the platform said streams will be unavailable until the moderation infrastructure is ready to deal with the heightened levels of activity.
Phantom just added support for Coinbase’s Layer 2 network, Base (I love this.) Plus, the daily transaction count on Base recently reached an all-time high of 9.1 million. The daily transaction count is up 30x from January 2024.
Avalanche just launched its biggest testnet upgrade yet, Avalanche9000. With lower deployment costs for devs and up to $40 million in rewards. And lastly, Chainlink released a new report which shows that it is continuing to power DeFi with its tech driving tokenized assets like real estate and Ethereum ETFs.