Crypto News This Week (28th Sept 2024)

Crypto Market Overview: The cryptocurrency market has undergone major changes this week, both in terms of the prices of digital assets and events. At the time of publication, the market cap of the industry is up 0.51% at $2.31 Trillion. The trade volumes, however, took a beating of -21.67% over the previous day. 

Amid the Chinese economy’s happenings, the fear and greed index is displaying a neutral score of 57. This week, Bitcoin experienced notable price swings, as it brushed the highs of $66,458 from the weekly lows of $62,533. The business is seeing significant interest in AI and meme coins, specifically as the retail trade picks pace.

Top Crypto News This Week:

Hamster Kombat’s (HMSTR) Airdrop: 

Hamster Kombat’s HMSTR token airdrop on September 26, 2024, distributed 60 billion tokens, rewarding active players. The airdrop coincided with the token’s Binance listing, offering trading pairs like HMSTR/USDT. Binance’s Launchpool also allowed users to farm 3 billion HMSTR by locking BNB and FDUSD.

Binance’s ex-CEO CZ’s Release Shoots BNB Price:

After Binance’s ex-CEO Changpeng Zhao (CZ) was released from prison, the market responded positively, causing a surge in Binance Coin (BNB) prices. Investors expressed renewed confidence in Binance’s future, with Zhao’s return signaling potential stability and growth for the platform​

Kamala Harris Talks About Digital Assets:

Kamala Harris made her first public comments on digital assets during a Wall Street fundraiser on September 22, 2024. She emphasized the importance of fostering innovation in AI and digital assets while ensuring consumer protection. Harris also discussed creating a transparent regulatory environment for emerging technologies like blockchain.

Microstrategy Adds More Bitcoin:

Michael Saylor’s Microstrategy has acquired 7,420 more Bitcoins worth ~$458.2 million. This brings their total holdings to 252,220 BTC, acquired at an average price of $39,266. The company continues its aggressive Bitcoin accumulation strategy, solidifying its position as one of the leading institutional BTC holder​s.

SEC Likely To Appeal Judge Torres’ XRP Ruling:

U.S. Rep Maxine Waters urges a bipartisan compromise on a stablecoin bill, highlighting the need for oversight from the Federal Reserve. She voiced concerns about a lack of urgency in finalizing regulations, particularly as Gary Gensler, head of the SEC, continues to advocate for clarity in the crypto industry. The discussions also pivoted around Staff Accounting Bulletin No. 121 (SAB 121), which aims to define stablecoin regulations while securing consumer protections.

Top Gainers in 7 Days:

Ethena (ENA) tops the weekly gainer’s list with an impressive 40.45% gain and a price tag of $0.3617. Shiba Inu (SHIB) followed next with a 36.46% rise in its value, which took its price to $0.00001977. Pepe with a 35.70% price surge stood with a face value of $0.00001111.

Top Losers in 7 Days:

Monero’s XMR showed the highest losses at 10.47% which took its price to $159.31. KAS followed with a -1.05% price change to $0.1679. And, FET saw a drop of -0.84% to $1.60.

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