Top Cryptocurrency News in Brief
Bitcoin made headlines again as it climbed to a new record-high price of over $67,000, surpassing its previous peak from 2017. This surge was largely driven by news of large companies like PayPal and Visa getting more involved with cryptocurrencies.
Ethereum also saw a price surge, reaching over $4,800 due to its popularity with decentralized finance (DeFi) developers and its upcoming move to a proof-of-stake consensus mechanism.
Tether, one of the most popular stablecoins, has gained regulatory approval to operate in the state of New York. The company is already widely used in cryptocurrency trading due to its stability compared to other cryptocurrencies.
Cardano announced a partnership with Celsius Network, a cryptocurrency lending platform, to improve the DeFi experience on the Cardano blockchain. This integration allows Celsius to offer loans and other services to Cardano users.
XRP has had a tumultuous year so far and experienced another setback as the U.S. Securities and Exchange Commission (SEC) announced a delay in producing thousands of internal documents related to the ongoing lawsuit against Ripple Labs, the company behind XRP.
Solana, a high-speed blockchain, is set to receive a significant investment from cryptocurrency exchange FTX, increasing its popularity and potential growth in the DeFi ecosystem.
Dogecoin, the meme-inspired cryptocurrency, received a boost from non-fungible token (NFT) sales by its founder, Billy Markus. The tokens sold for $20 million, with a portion going to charitable causes.
Polkadot saw increased activity and awareness as its parachain slots, which allow for decentralized applications to run on its blockchain, began being sold to projects in public auctions.
Avalanche announced its integration with decentralized prediction market platform Polymarket, allowing Avalanche users to participate in popular prediction markets such as those related to the U.S. mid-term elections.
[h/t James Van Straten]