Last week in the crypto world was filled with events and unexpected decisions from leading companies and investors.
This is reported by Finway
Key Events in the Cryptocurrency Market
Over the past week, Bitcoin exhibited significant volatility. The price fluctuated between $108,000 and $113,000, accompanied by large-scale liquidations totaling over $940 million.
Institutional investors continue to show activity in the market. In particular, Japanese Metaplanet acquired an additional 103 BTC for approximately $11.7 million, while JPMorgan analysts consider a fair price for Bitcoin to be around $126,000.
Innovative Solutions in the Crypto Industry
This week, several significant companies announced ambitious plans regarding cryptocurrency assets. Galaxy Digital, Jump Crypto, and Multicoin Capital are discussing the creation of a fund based on Solana with a budget of $1 billion. Meanwhile, Pantera Capital plans to raise $1.25 billion to form Solana Co.
The U.S. Department of Commerce will begin publishing data on real GDP on the blockchain, covering nine different crypto networks, including Bitcoin and Ethereum.
An important event was the emergence of new cryptocurrency ETFs. In particular, Grayscale Investments applied to convert the Avalanche trust, Bitwise applied to create a spot LINK ETF, and REX Shares and Osprey Funds are working on a BNB ETF.
MetaMask introduced a new Social login feature that allows users to create wallets through Google and Apple accounts without saving a seed phrase.
The U.S. Commodity Futures Trading Commission (CFTC) also released clarifications that will allow foreign crypto exchanges to serve American clients upon registration.
At the same time, CryptoQuant experts noted the capitulation of new investors and indicated that the market is entering the final phase of the cycle with potential growth in the fall of 2025.