ETFs
Bitcoin Bull Run Fades While ETH ETF and Shiba Inu Advance
The crypto landscape ends another week with phenomenal developments seen across the market. As the price of Bitcoin showed signs of a potential bull season ending, the Ethereum ETF saga progressed. Shiba Inu, a meme coin that has piqued the interest of many, has embarked on some intriguing crypto developments, adding to market excitement. Other global news included the world’s first HBAR ETP and the emergence of new tokens as hot topics.
Here’s a collection of some of this week’s top headlines
Bitcoin bull season fading?
Notably, concerns about the end of Bitcoin’s bull season increased significantly this week as the BTC price slipped as low as the $63 mark in the last seven days. This slowing movement is mainly due to a combination of factors, including massive outflows from BTC ETFs, macroeconomic factors, and the capitulation of BTC miners, among others.
Top crypto analysts also took to the stage amid this bearish shift to highlight the downtrend. BTC market dynamics, hinting at a potential end to the BTC bull market. Conversely, BTC accumulations has increased significantly over the past week, giving rise to mixed sentiments in the market.
In the meantime, Chartered standard became the first bank to begin spot trading of Bitcoin and Ethereum.
Ethereum ETF Deposits This Week
At the same time, the hot topic of the moment, the ETH ETF, has seen notable developments. The field of cryptography has seen Spot Ethereum ETF S-1 Amendments of 8 companies this week, encompassing Bitwise, Fidelity, 21Shares, Grayscale, Franklin, VanEck, iShares and Invesco. Among these, loyalty appears to have filed an updated form after failing to include sponsor fees.
The crypto industry as a whole remains optimistic about the prospect of seeing ETH ETF trading will begin shortly before, on July 2. The ETH token is determined to capitalize on this opportunity, with potential price gains on the way.
Read also: Solana Exec explains how ZK compression reduces on-chain storage costs by over 99%
Shiba Inu (SHIB) is revolutionizing the crypto journey
Finally, Shiba Inu, the dog-themed meme coin, saw many positive developments this week. SHIB would have been added to Crypto.com Visa Card Funding Optionsexpanding the token’s payment offerings.
Meanwhile, Shytoshi Kusama, the lead developer of Shiba Inu, has outlined plans to launch a Web3 version of the card game. Shiba Eternity. This mover aims to provide unique opportunities with ecosystem tokens SHIB, LEASH and BONE, SHIB.
Furthermore, the Shiba Arab Army revealed a new SHIB token burning proposal for Binance and Coinbase. Meanwhile, the Shiba Inu token burning mechanism continued to destroy massive amounts of SHIB.
Curiously, Shiba Inu Whales attracted attention again this week, pocketing billions of coins amid a turbulent trading session observed by the meme coin.
Other hot topics this week include the launch of the first Hedera ETPTHE ASI Token Mergerand the LayerZero (ZRO) token.
Read also: EigenDA from EigenLayer Unveils Security Whitelist Against Sybil Attacks
✓ Share:
CoinGape includes an experienced team of native content writers and editors working around the clock to cover global news and present news as fact rather than opinion. CoinGape writers and journalists contributed to this article.
The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.