Summary
The approval of Bitcoin spot exchange-traded funds (ETFs) caused fluctuations in the price of Bitcoin, which initially reached $49,000 but then dropped back to $43,000. Ethereum, on the other hand, saw an increase in value and reached an 18-month high of nearly $2,700. Other cryptocurrencies such as Binance Coin, Solana, Tezos, and Stacks also experienced gains. The Ethereum Name Service and its ENS token had the best week, with a nearly 75% increase in value.
Key Points
1. The approval of Bitcoin spot exchange-traded funds (ETFs) dominated the headlines and sparked speculation about the future value of the cryptocurrency. The price of Bitcoin initially rose to $49,000 but later dropped back to $43,000.
2. Ethereum experienced positive movement, reaching an 18-month high of nearly $2,700. It is currently trading at $2,568, with a 14% increase over the past week and an 80% return over the past year. Ethereum scaling networks, such as Arbitrum and Optimism, also performed well.
3. Other cryptocurrencies like Binance Coin (BNB) and Solana had mixed results, with BNB down 2% and Solana up 2% for the week. Tezos (XTZ) and Stacks (STX) saw double-digit percentage gains, while the Ethereum Name Service and its ENS token had a remarkable week, up nearly 75% in the last seven days.