The week was a rollercoaster ride in the world of cryptocurrencies. From GameStop-themed crypto rallying to a Trump-backed project bolstering Bitcoin and Ethereum, the crypto market was buzzing with activity. Here’s a quick round-up of the top stories.
Cryptocurrencies themed on video game retailer GME saw a significant surge, thanks to CEO Ryan Cohen’s picture with Strategy co-founder Michael Saylor. The Ethereum-based GameStop crypto soared nearly 50% in the last 24 hours, with its trading volume surging by 37% to $1.83 million.
World Liberty Financial, a cryptocurrency project backed by President Donald Trump, announced a strategic token reserve to support projects like BTC/USD and ETH/USD. The reserve aims to mitigate market volatility by diversifying holdings across tokenized assets.
, the founder of asset management firm Ark Invest, supported Elon Musk’s idea of putting all U.S. government spending on blockchains for better transparency. Wood hailed the plan as a “win, win, win” for transparency, efficiency, and security.
Prominent trader Unipcs believes meme coins could be on the verge of a comeback. He argued that the risk/reward ratio favors longs, as the biggest meme coins have already corrected 70-90% from their peaks just months ago.
The Securities and Exchange Commission has acknowledged Grayscale’s applications for spot DOGE/USD and XRP/USD ETFs. This move signals that the agency is open to considering the proposals, a shift from its previous tendency to dismiss similar applications for alternative cryptocurrencies.
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This story was generated using Benzinga Neuro and edited by Ananya Gairola
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