- Binance’s Weekly Recap covers macro trends, ETF delays, and L1/L2 developments.
- Highlights include Fidelity’s ETH ETF, Solana’s DEX surge, and NFT sales.
- Stay informed with Binance’s comprehensive market insights and updates.
Binance, one of the leading cryptocurrency exchanges, has released its Weekly Market Highlights, providing a comprehensive overview of recent developments in the crypto space. What can we expect in the coming week?
As we head into a new week, let’s recap the last few days. The Weekly Market Highlights is an initiative from the #Binance Research team to round up the week, summarizing key market events and views from the team.
Let’s get the ball rolling 🧵👇
— Binance Research (@BinanceResearch) March 24, 2024
The recap begins with insights into macroeconomic and traditional finance (TradFi), with Japan’s Government Pension Investment Fund expressing interest in assets like Bitcoin, gold, forests, and farmland. Additionally, the SEC has delayed decisions on Hashdex and Ark 21 Shares ETH spot ETFs to May 30 and May 24, respectively.
In the realm of TradFi, Fidelity Asset Manager updated its spot ETH ETF application to include provisions for staking Ether. Meanwhile, BlackRock launched its first tokenized fund on Ethereum, allowing investors to earn yield while holding tokens on the blockchain.
Transitioning to Layer 1 and Layer 2 (L1/L2) developments, BNBCHAIN unveiled its ‘Airdrop Alliance Program’, aiming to boost awareness of BNB Chain projects. Starknet revealed its 2024 roadmap, outlining plans for parallel execution. Solana experienced a surge in DEX trading volumes, driven by memecoin trading.
The recap also touches on stablecoins, NFTs, gaming, and other sectors. Frax Finance progressed with reinstating a protocol fee switch, while the second most expensive CryptoPunk was sold for 4,850 ETH. Immutable and King River Capital launched a US$100M “‘nevitable Games Fund’, and Grab partnered with Triple A to enable cryptocurrency payments in Singapore.
Interested readers can find more insights on the Binance Research website. This comprehensive recap underscores Binance’s commitment to keeping users informed about the latest market trends and developments.
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