It’s been a big week in crypto news! Here are five of the biggest stories you might have missed.
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Bitcoin Reaches New All-Time High
Bitcoin reached a new all-time high today, breaching the $2,000 mark for the first time ever. The leading cryptocurrency has now gained over 150% so far this year, and its total market capitalization now stands at around $32 billion.
This latest price surge has been driven by a number of factors, including increasing interest from institutional investors, a crackdown on exchanges in China, and the upcoming halving of the Bitcoin block reward.
With its price now hovering around $2,000, Bitcoin looks set to continue its upward march in the months ahead.
Ethereum 2.0 Deposits Hit Record Levels
The number of ETH deposited into Ethereum 2.0 smart contracts has reached an all-time high of 2.6 million ETH (roughly $4.6 billion).
This is a sign that confidence in Ethereum 2.0 is growing, as more and more users are opting to staking their ETH in order to earn rewards and help secure the network.
The surge in deposits comes despite the fact that Ethereum 2.0 is still in its early stages, and there is currently no way to withdraw your funds or earn rewards.
Nevertheless, the trend suggests that increasing numbers of users are confident that Ethereum 2.0 will eventually launch successfully, and they are willing to put their money where their mouth is.
##Heading: Telegram’s Long-Awaited Gram Cryptocurrency Finally Launches
Telegram’s much-anticipated Gram cryptocurrency finally launched on Tuesday, after multiple delays.
The long-awaited launch was met with a mixed reception, with some users lauding Telegram for finally delivering on its promises, and others expressing concerns about the potential for centralization.
Gram is currently only available on a limited number of exchanges, and it remains to be seen whether it will be able to gain mainstream adoption.
Nevertheless, the launch of Telegram’s cryptocurrency is a milestone for the crypto industry, and it will be interesting to see how Gram fares in the coming months and years.
Binance Announces Plans to Launch Crypto Exchange in India
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has announced plans to launch a crypto-to-fiat exchange in India. The move comes despite the country’s central bank, the Reserve Bank of India (RBI), issuing a ban on banks and financial institutions from dealing with businesses and individuals involved in cryptocurrencies.
In a blog post on Tuesday, Binance CEO Changpeng Zhao said that the exchange had “decided to invest directly into the Indian market” in order to “serve the 1.3 billion people” living in the country. He added that Binance had set up a team in Mumbai and was in the process of applying for all necessary licenses.
The announcement was met with mixed reactions on social media, with some users welcoming Binance’s entry into the Indian market and others expressing skepticism about how the exchange would be able to operate in a country where cryptocurrencies are effectively banned.
Binance is not the only cryptocurrency exchange looking to enter the Indian market despite the RBI ban. Local startup WazirX recently announced plans to launch a fiat-to-crypto exchange later this year, while another exchange, Koinex, has also said that it is “exploring options” to allow rupee deposits and withdrawals.
Ripple Partners with MoneyGram for Cross-Border Payments
Ripple, the company behind the XRP cryptocurrency, has announced a new partnership with MoneyGram. The companies will now trial using XRP to speed up international money transfers.
This is a big deal for Ripple, as it potentially opens up its technology to a huge new market. MoneyGram is one of the world’s largest money transfer firms, with operations in over 200 countries.
If the trials are successful, it could mean big things for XRP. The cryptocurrency is currently the third-largest by market capitalization, but has struggled to find mainstream adoption. This could be the boost it needs.
SEC Commissioner Hester Peirce Says Bitcoin ETF Will Eventually Be Approved
In a recent interview with CNBC, SEC Commissioner Hester Peirce commented on the possibility of a Bitcoin ETF being approved in the near future. Peirce, who is often referred to as “Crypto Mom” because of her supportive stance towards cryptocurrency innovation, said that she believes it’s only a matter of time before an ETF is approved.
“I think we will see an ETF sometime soon,” Peirce said. “I think people are trying very hard to get one out there.”
While the SEC has so far been unwilling to approve a Bitcoin ETF, Peirce’s comments suggest that the agency may be open to the idea in the future. This is good news for cryptocurrency investors, as an approval would likely lead to more mainstream adoption of Bitcoin.