Hey there, welcome back! Here is a recap of all that happened in the last 24 hours in the crypto community. With The Blockchain Bulletin, get to know the latest updates on institutional firms, tokens, market volatility, and even regulatory facts.
Bitcoin and Altcoins: Volatility Persists
Bitcoin’s price is holding steady at $92K amid selling pressure, raising concerns among investors. Analysts indicated a reversal rather than a reinvestment of the signals received by the markets. Following the dip, several altcoins, including ADA, could not bounce back in the market and struggled to recover amidst broader market dips.
XRP’s Price Surge Amid Market Fluctuations
While several tokens struggled due to market volatility, XRP pushed upwards towards critical resistance levels, targeting key Fibonacci levels for a major breakout. An analyst stated that the $2 mark would be a critical point for XRP, and if it is exceeded, the token would cause a ‘real FOMO’ (fear of missing out). This would potentially lead to a price increase.
Regularizing Ethical Standards on Platforms
Pump.fun is a Solana-based trading game that lets users trade cryptocurrencies to earn token rewards. The platform had removed its live stream feature following severe backlash from users for its violent videos. Considering the community guidelines and ethics, the feature has been removed. Users of the platform cited that several members had threatened to self-harm themselves or their pets if the token didn’t reach its target. On the other hand, Dogwifhat surpassed Bonk in market cap and secured its position as Solana’s leading meme coin.
Dogecoin Foundation’s Decentralized Plans for 2025
The Dogecoin Foundation is actively seeking sponsors to support its decentralized plans for 2025. These initiatives aim to enhance Dogecoin’s infrastructure and community while simultaneously fostering a user-friendly, accessible blockchain ecosystem. By leveraging sponsorships, the Foundation seeks to enhance scalability and adoption while ensuring long-term sustainability for the network.
Institutional Investments and Market Dynamics
MicroStrategy reaffirmed its bullish stance on Bitcoin with a $5.4 billion purchase, reflecting growing institutional confidence in crypto. Similarly, Arbitrum saw a surge in long positions, raising optimism about its DeFi potential and its likelihood of surpassing $1.
Regulatory Oversight Intensifies
The SEC fined a Texas-based investment adviser, Khalid Parekh, for fraudulent crypto activities. By targeting Muslim clients, Parekh had illegally invested about $18.5M of their funds in crypto without their consent. Also, between August 2021 and August 2022, Parekh accumulated funds from 373 investors across 40 states. Meanwhile, the Financial Conduct Authority (FCA) reported that about 12% of adults in the UK are familiar with cryptocurrency, emphasizing its rising adoption and the need for consumer protection frameworks.
Looking Ahead
The crypto industry balances innovation and caution, with platforms ensuring user safety, tokens showing resilience, institutions driving investments, and regulators tightening oversight—all shaping a dynamic yet disciplined ecosystem poised for long-term growth and adoption.
