Crypto Weekly Roundup: Highlights from the World of Digital Assets

Last week in the crypto world saw a whirlwind of events, from Bitcoin’s volatile ride to Ethereum’s fee reduction and Grayscale’s latest ETF move.

Bitcoin’s Roller-Coaster Ride

Bitcoin, the king of cryptocurrencies, started the week with a bang, reaching a new all-time high of $73,000, only to plummet below $65,000 by Sunday after a significant sell-off. The market witnessed highs and lows, leaving investors on the edge of their seats.

Ethereum’s Fee Drop After Dencun Upgrade

Ethereum’s much-anticipated Dencun upgrade proved its worth by drastically lowering fees on various Layer 2 networks. Following the upgrade, fees on these networks experienced a remarkable reduction, with some protocols slashing fees by up to 99%. This upgrade marks a significant milestone in Ethereum’s journey towards scalability and efficiency.

Prosecutors Recommend Up to 50 Years for Sam Bankman-Fried

In a shocking turn of events, prosecutors in the trial against Sam Bankman-Fried, the former CEO of FTX, have recommended a hefty sentence of up to 50 years. Bankman-Fried faces charges related to fraud and money laundering, highlighting the legal complexities in the crypto space.

Grayscale’s New Bitcoin ETF Filing

Grayscale Investments made headlines with its filing for a second Bitcoin exchange-traded fund (ETF), aiming to offer investors a more cost-effective option. The move comes in response to growing demand for lower-cost alternatives in the market. Grayscale’s strategic move signals a shift towards independent operation, reflecting the evolving landscape of crypto investment opportunities.

What To Expect This Week

With spot Bitcoin ETF volumes already surpassing those of previous months and BlackRock’s significant accumulation of Bitcoin, all eyes are on the market this week. Analysts will closely monitor ETF inflows to gauge market sentiment and potential trends.