Solana
The biggest crypto news of the past week
1:00 p.m. ▪ 5 min reading ▪ by Luc Jose A.
Amid groundbreaking announcements, technological developments, and regulatory turbulence, the crypto ecosystem continues to prove that it is both a territory of limitless innovations and a battlefield of regulatory and economic struggles. Here is a condensed overview of the most notable news from the past week regarding Bitcoin, Ethereum, Binance, Solana and Ripple.
Bitcoin Whales Control 40% of Supply
Bitcoin whales, these investors holding significant quantities of BTC, have now accumulated over 40% of the total crypto supply. This trend, observed since mid-March, reveals increased confidence among these entities in the long-term potential of Bitcoin, despite market concerns about price fluctuations. However, such concentration could lead to price manipulation and increased volatility, which would pose significant risks to market stability.
Binance reaches 200 million users
Binance has surpassed the 200 million user mark. Since its creation in 2017, Binance has innovated by offering diversified services, from spot trading to futures contracts, including decentralized finance (DeFi). This milestone reflects user loyalty and trust and highlights Binance’s commitment to making crypto accessible to everyone. Beyond just trading, Binance promotes education and innovation in the blockchain industry through initiatives such as Binance Academy and Binance Research. This impressive growth highlights the success of Binance’s vision and its key role in the global adoption of cryptocurrencies.
The ECB reopens the floodgates: good news for Bitcoin
The European Central Bank (ECB) has decided to lower its key rate from 4.50% to 4.25%, a first in five years, despite a recent increase in annual inflation. This decision aims to revive the European economy by facilitating access to credit, even if Christine Lagarde, president of the ECB, highlighted the geopolitical and economic uncertainties which could affect inflation and energy prices. This rate cut is viewed favorably for Bitcoin, providing a refuge from the volatility of fiat currencies. In addition, the ECB will gradually start selling the 1.85 trillion euros of debt accumulated during the pandemic from July, a process that will take two decades.
Robinhood acquires Bitstamp for 200 million
Robinhood announced the acquisition of Bitstamp, one of the oldest cryptocurrency exchange platforms, for $200 million. The strategic move aims to expand Robinhood’s influence in the crypto sector, despite regulatory pressure from the US SEC. Bitstamp, with more than 50 licenses and registrations worldwide, represents a significant opportunity for Robinhood to expand its user base and attract institutional clients. This acquisition could strengthen Robinhood’s position in the global crypto market, even as regulatory challenges persist. Robinhood users will benefit from a more secure and robust platform thanks to the Bitstamp integration.
Ethereum ready for Pectra in Q1 2025
Ethereum plans to launch a major update, Pectra, in the first quarter of 2025, promising significant improvements for users and developers. This update includes innovations such as the EVM Object Format (EOF) and EIP-7702, aimed at improving the security and efficiency of smart contracts while providing greater transaction flexibility. Pectra will integrate approximately 19 EIPs to address issues such as high transaction fees on Layer 2 platforms. The release schedule was carefully chosen to avoid rushing ahead of Devcon, ensuring full feature integration and efficient tracking of the deployment. This update is part of a broader roadmap, with planned future enhancements such as the Osaka upgrade and PeerDAS integration to improve scalability and decentralization.
Here’s this week’s essential recap. But if you want a more detailed summary and in-depth analyzes directly in your inbox, do not hesitate to subscribe to our weekly newsletter.
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Luc José A.
A graduate of Sciences Po Toulouse and holder of a blockchain consultant certification issued by Alyra, I joined the Cointribune adventure in 2019. Convinced of the potential of blockchain to transform many sectors of the economy, I took the commitment to raise awareness and inform the general public about this constantly evolving ecosystem. My goal is to enable everyone to better understand blockchain and seize the opportunities it offers. I strive every day to provide an objective analysis of current events, to decipher market trends, to relay the latest technological innovations and to put into perspective the economic and societal issues of this ongoing revolution.
DISCLAIMER
The views, thoughts and opinions expressed in this article belong solely to the author and should not be considered investment advice. Do your own research before making any investment decisions.