Another week ends with noteworthy chronicles witnessed across the broader crypto landscape recently as Ark Invest, Binance, Bitcoin, and Terra echoed a sense of frenzy across the crypto market. Some of the most eyed headlines that amassed substantial attention this week are:
Ark Invest’s Selloff Chronicle
Cathie Wood’s asset management firm, Ark Invest, reportedly curated a tidal wave of speculations this week following phenomenal selloffs. According to reports, Wood’s investment firm sold substantial Coinbase (COIN) shares as prices witnessed another 52-week high last week. Moreover, on December 28, the asset management firm again liquidated colossal holdings of 16 shares, encircling AMD, Cloudflare, Shopify, Stratasys, GBTC, COIN, and Jack Dorsey’s Block Inc., among many others.
In addition to this, the firm again offloaded 2,369 COIN shares on December 30 as the potential window for spot Bitcoin ETF approval nears in January. With this, Wood portrayed bearish sentiments on Bitcoin and other crypto shares as the SEC is most likely siding with the ETF approval.
Binance’s Listing Saga
Binance, one of the most prominent cryptocurrency exchanges, seems to have embarked further with its cryptographic venture this week. The exchange reportedly announced plans to add new margin trading pairs for major digital currencies including ADA, DOGE, LINK, and MATIC in FDUSD pairs.
Furthermore, Binance’s native token, BNB, also noted significant surges this week following Binance’s integration of Sleepless AI. With this, the firm allows its users to farm AI tokens, thereby staking BNB, FDUSD, and TUSD for a week starting December 28.
In addition, Binance also unveiled the launch of USDC-margined perpetual contracts on Binance Futures. This contract encompassed significant cryptos such as Bitcoin, Ethereum, BNB, Solana, and XRP and staged a trading commencement date of January 3.
Bitcoin Stirs Speculations
Bitcoin, the world’s first cryptocurrency, witnessed substantial inflows this week ahead of spot Bitcoin ETF approval. According to reports, BTC noted an inflow of $87.6 million, accompanied by a Short-bitcoin inflow of $0.4 million.
Furthermore, as the spot Bitcoin exchange-traded fund race paced up eight Bitcoin ETF issuers, including Grayscale, submitted updated S-1 forms disclosing changes like authorized participants (APs) and fees before the U.S. SEC’s deadline of December 29 for spot Bitcoin ETF application updates.
Also Read: Crypto Market Set for Growth, WazirX VP Forecasts Bullish 2024
Terra Community’s Voting Endeavor
The Terra community again stirred a whirlpool of speculations across the broader crypto landscape this week as it noted significant chronicles. According to reports over the week, the Terra Luna Classic community officially rejected the proposal to burn 800 million USTC following disagreements among community members and validators over insufficient details on the potential impact.
Furthermore, the community embarked on an additional voting saga, orbiting an 8 million USTC community pool burn proposal. Notably, the initial voting round portrayed only 28% favoring the motion, whereas 71% rejected it, with a 1% No with veto.
Also Read: Top Analysts Unveil Bitcoin Predictions, What’s Next For BTC Price In 2024?
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