Weekly Top Crypto News (April 10 – April 16)

An exciting week for investors as the crypto market is in the green. Bitcoin has now crossed the $30,000 mark, which is one of the most notable events of the past week. Here, let’s review this week’s top crypto news with Coincu!

Bitcoin’s Record-Breaking Run Continues, Reaching $31,000

Bitcoin crosses $31,000 for the first time in a year, driven by investor optimism and an influx of money into the crypto industry. Bitcoin rallied by over 10% this week, pushing its market cap toward $600 billion. BTC has risen around 100% in 2023 alone, starting at $16,000 and trading well above its year-to-date low of $23,721, indicating a present bullish momentum that is likely to continue.

Ethereum Surpasses $2,000 Following Shanghai Upgrade, Outperforms Bitcoin

Dogecoin saw a 5.9% increase after Twitter’s announcement of a partnership with eToro for cryptocurrency trading. Ethereum surpassed $2,000 following its Shanghai upgrade, with a rise of over 6%.

Kraken Leads In Transactions Freeing ETH With 63% After Shanghai Upgrade

According to Nansen, the Kraken exchange is leading in ETH withdrawal requests after Shanghai, accounting for 63.3% of the total withdrawals of the entire market. The company is expected to release all ether to US customers due to regulatory measures. Currently, 17.4 million ether is staked (excluding rewards) on the Ethereum network, representing 15% of the total ether supply.

Binance Burns Over 2 Million BNB Tokens

Binance burns over 2 million BNB, taking $674M out of circulation as price trades at $333, about half its ATH. The latest auto-burn takes the number of BNB in circulation to 155,166,772.80.

SushiSwap Asks Lido Community For Help To Recover Lost ETH

SushiSwap launched a solicitation in the Lido community, which mentioned that due to the RouteProcessor2 contract problem. A part of ETH was transferred to the block builder as MEV rewards and then directed to Lido Execution Rewards Vault. The project said that it had contacted several Lido contributors over the weekend to discuss the option of recovering these funds.

Twitter Shows Ambition To Become Super App Through Partnership With eToro

Twitter will allow users to access stocks, cryptocurrencies, and other financial assets through cooperation with the multi-asset investment platform eToro. Starting April 13, eToro said, a series of new features will be rolled out to the Twitter app. Users can also click a “View eToro” button to go to eToro’s website and buy and sell assets on its platform.

Sui Token Received A Strong Response From Exchanges

Sui Token is being announced by exchanges simultaneously to be listed. Whitelisted individuals can get up to 1,500 SUI from a total of 25,000,000 SUI for the low price of $0.03. This could be the new wave after the March Arbitrum airdrop.

Aptos Token Explodes In Value Following Elon Musk’s Tweet

Elon Musk’s tweet about the Aptos token causes a 7% increase in value within minutes. APT price has not seen such a high point in almost 30 days. Musk’s tweet read “AI APT OTT!” and the deletion was attributed to AI understanding the meaning.

Solana’s Smart Phone For Crypto Players Officially On Sale On May 8

Saga, the crypto-forward smartphone from Solana Labs, will be on sale on May 8. Solana Mobile’s new gadget costs $1,000 and is based on technology from Bay Area smartphone firm OSOM. Saga has its own “dApp” store that solely displays cryptocurrency apps.

FTX Recovers $7.3B Cash And Crypto Assets, Considers Q2 Relaunch

Bankrupt FTX has recovered over $7.3B in cash and crypto assets, an increase of over $800M since January. CEO John Ray is focusing on rebuilding trust with the crypto community after detailing improper fund transfers and poor accounting at the collapsed crypto exchange. The proposed relaunch in Q2 raises questions about FTX’s future and whether it will indicate a complete overhaul of FTX’s branding or simply a continuation of the existing brand.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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