Bitcoin pegged its price to the trade price. At the same time, Ethereum ripped higher, powered by the wave of ETF inflows and a blockbuster acquisition in the industry. At the same time, Monero was hit by what was believed to be a 51% attack that greatly disrupted their network.
Metaplanet and Smarter Web have both recently supplemented their coffers by almost $100 million in BTC. This decision further proves that the institutional appetite for Bitcoin is unstoppable. As per our data Bitcoin was trading around $61,720.94. It has proved its resilience amidst the ongoing volatile market conditions.
Ethereum had a major increase, trading at around $4,428.61. Ether ETFs attracting over $1 billion in their first day of trading was a clear indication that investors were bullish. The inflow into BlackRock’s ETHA fund topped $640 million, indicating the strong demand investors have for this fund. A new whale began purchasing $1.34 billion in ether over the last eight days, increasing demand even more.
Social enterprise Mara Holdings didn’t mess around. By clinching a $168 million contract, they raised the bar. They now own a 70% stake in Exaion, a company within French utility giant Electricite de France SA. This acquisition represents an extraordinary and possibly defining convergence between the traditional energy and cryptocurrency sectors.
The Monero network experienced a very serious disruption due to a probable 51% attack. As a result of this attack, 60 blocks were orphaned on the chain. The attack forced XMR’s price down by more than 8.6%. This sudden and major drop raised alarm over the integrity of the network.
Visa’s latest move underscores the company’s aggressive push to capitalize on the rapidly emerging stablecoin market, which is expected to see tremendous growth in the coming years. Meanwhile, the entire stablecoin market is expected to expand to $2 trillion, luring in big financial players like BlackRock. Circle’s stock jumped more than 11% following its announcement of a 53% year-over-year revenue growth, bringing it to $658 million. This is symbolic of their increasing importance in the crypto ecosystem.
