Welcome to a new CryptoNews Weekly Recap. At a time that, without a doubt, may be historic for cryptocurrencies. Are we at the beginning of a new Bull Run?
This week, we have witnessed several events that may mark a turning point in the history of cryptocurrencies. The most important, has undoubtedly been Ethereum’s Shapella update which, far from bringing down the price of ETH as many predicted, made the leading altcoin lead the way in a market that keeps going up and up.
The long-awaited Shanghai-Capella update (popularly known as Shapella) brought one of the most awaited improvements by the Ethereum community: the possibility of withdrawing staked ETHs. However, the market looked skeptically at this fact, as many thought that stakers would pull out their deposits and sell massively, which would generate a brutal oversupply and a sharp drop in price.
But nothing of the sort happened. Stakers barely withdrew their rewards, but left their main stake, which generated a huge rise in ETH prices, which went back above $2,000 after a long time.
And speaking of breaking records, Bitcoin once again positioned itself above $30,000, paving the way for a new bull run. In fact, BTC has already risen 80% so far this year, being the best investment alternative in the entire world of finance, far surpassing the value of shares of large companies and other traditional alternatives such as gold or commodities.
Want more historical events? Well, here’s some more. Twitter, under the leadership of Elon Musk, has teamed up with the eToro platform to start offering cryptocurrency and stock trading on the social network. Undoubtedly, when implemented, this will be a before and after for virtual currencies and crypto Exchanges.
And there’s more: this week, US presidential candidate Robert Kennedy Jr. has expressed his support for Bitcoin and criticized CBDCs. Can you imagine what could happen to cryptocurrencies and blockchain technology if Kennedy were elected? Well, we talked about that HERE.
Have you noticed that cryptocurrencies are becoming more and more adopted? From companies accepting them as a means of payment to movies. That’s right, because we will soon have a movie that will tell the success story of Dogecoin.
Of course, the cryptocurrency market is living a real paradise these last months. Avalanche surpassed $18 and our trading expert tells you how it will go the way of AVAX. GMX was another token that saw green numbers this week, rising 7%.
Although all altcoins had a spectacular week, the prize undoubtedly goes to Solana, which announced that it will launch its own smartphone next month to compete on equal footing with Apple, Samsung and other tech giants.
