In a flurry of noteworthy developments, the cryptocurrency world appears to be witnessing a storm of moves towards the end of this week. With the recent introduction of spot Bitcoin ETFs into the broader cryptocurrency market, market sentiment appears to be taking a dramatic turn. Binance, a cryptocurrency exchange, issued several substantial notices to its users this week. Meanwhile, the Terra Classic community has stepped up additional efforts to leverage LUNC and USTC tokens.
In line with these, some of the headlines that have sparked curiosity across the cryptocurrency horizon are as follows:
Bitcoin ETFs are growing in popularity
Another week comes to an end since the introduction of spot Bitcoin ETFs within the US trading scene. Market charts highlight the huge rise in popularity of these ETFs immediately, after their creation.
In line with this, net inflows continued to rise this week, followed by a notable rise in collective ETF trading volume. BlackRock, Fidelity, and Bitwise appear to be at the top of the list of top ETF providers, attracting investors across the US.
Meanwhile, Hong Kong has its sights set on gaining approval for the country's first bitcoin ETF. Venture Smart Financial Holdings Ltd, a financial services provider, shared plans for the same this week.
Binance Sparks Conclusions
Binance, the world's leading cryptocurrency exchange, issued several important notices to its users this week. The platform recently added Manta Network to its portfolio as the TVL of Manta Pacific surpassed $800 million. Furthermore, it added a perpetual DOGE contract to its portfolio, offering 75x leverage.
Notably, the company also delisted specific spot trading pairs of BTC, ETH, and BNB, and on the other hand, announced the inclusion of ETC, ENS, and TIA in the FDUSD and USDC pairs. Meanwhile, the company announced its debut in Thailand, facilitated by Gulf Binance.
This concludes another week for Binance with a hurricane of hacks.
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Terra Classic fuels speculation
According to several reports from CoinGape Media over the past week, it appears that the Terra community is building additional support for its tokens. The community recently revealed plans to submit an “Investigating EVM Function” proposal. With this, Terra has targeted an advanced terminal portfolio, which has received significant attention globally.
However, the community rejected the proposal after voting. In line with this, Allnodes stated in a note: “Even focusing on just the compiler, the near-term R&D cost, but also the potential long-term maintenance cost remains unclear. This should be assessed before considering any positive signal for financing.
At the same time, the community also announced an upgrade to the core security package.
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