Many significant events have occurred in the world of cryptocurrencies and blockchain. Ethereum activated the Fusaka upgrade, enhancing the scalability of the network, while Binance launched a new prediction market, Predict.fun.
This is reported by Finway
Key Events of the Week
Last week was filled with notable events in the crypto industry. Ethereum underwent an important technological upgrade that improves the network’s efficiency, and several leading companies announced new products.
In particular, Binance founder Changpeng Zhao (CZ) presented the prediction market Predict.fun on the BNB Chain blockchain. The service allows users to place bets on various events and earn profits from locked assets.
Crypto Market: Trends and Predictions
Analysts at Galaxy Research warned about the entry of crypto custody companies into what they call the “Darwinian phase.” The decline in premiums and the shift in the credit cycle pose serious challenges to the business models of such companies.
At the same time, BlackRock CEO Larry Fink reported that some sovereign funds have started buying Bitcoin after the price drop, forming long-term positions.
“Funds are actively buying the asset when it drops into the $80,000 range,” Fink noted.
Bitcoin is currently trading around $89,400, showing high volatility. Bloomberg experts even predict a potential drop to $50,000 due to the asset’s overvaluation.
In the context of regulatory news, it is worth noting that the European Union fined the social network X €120 million for violating the Digital Services Act, further emphasizing the tightening of control over digital platforms.