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This week's round-up of news from the cryptocurrency industry

Over the past week, certain events and news have managed to influence the cryptocurrency market. Read on for a roundup of the week's top stories!

Over the past week, a number of events have taken place that have directly and clearly affected the direction of the digital currency market. In this article, we review for you a summary of the most important news in the cryptocurrency market this week.

The most important news from the world of digital currencies not to be missed this week

The cryptocurrency market has seen many fluctuations over the past week, with the price of Bitcoin falling all the way to the $65,000 line before climbing back up, crossing the $69,000 threshold again. other times.

Here is some cryptocurrency industry news for this week:

- Bitcoin ETF outflows caused a drop in the price of the leading cryptocurrency asset

The Grayscale Fund (GBTC) and Ark Invest 21Shares Fund (ARKB) saw negative net inflows last week. The value of outflows from the ARKB Fund on Tuesday amounted to approximately $87.5 million. While the value of these flows to the GBTC fund reached $81.9 million on the same day.

Negative inflows into Bitcoin spot funds coincided with a decline in the Bitcoin price on Tuesday. The largest cryptocurrency in the world is trading at 65.5 thousand dollars. Also confirmed a report According to the Bloomberg platform, the decline in Bitcoin prices on Tuesday coincided with the release of data indicating a decline in investment in US Bitcoin spot ETFs.

- Binance includes Floki coin among payment options

More than 12 million active users can now use it Floki coin Digital technology in their transactions with merchants around the world after its integration into the Binance Pay platform Pay Binance Pay. Which improves its usability and position in the highly competitive cryptocurrency market.

Despite the integration of Floki into Binance Pay and the burning program (more than 214 billion units of the currency were burned, which exceeds 55 million US dollars in the month of March alone), the sustainability at Long term of this currency depends on the development and adoption processes by users, and the transformation towards jobs more focused on public services.

- The start of the free airdrop distribution of the new coin Wormall (W)

seem The Wormhole protocol, which connects different blockchains, conducted an airdrop on Wednesday, April 3, and began distributing W tokens. It's a move that markets have been waiting for for some time.

The platform has allocated 674 million tokens for the distribution process, which is equivalent to 6.75% of the total currency supply. This brings the total value of the current distribution to $896 million for users who meet the protocol's eligibility criteria.

Following the distribution, major cryptocurrency exchanges, such as Binance, OKX, and Kraken, listed Warmhole for trading. Meanwhile, on-chain investigator ZachXBT warned Tweeter On Twitter, fraud operations are widespread and target the beneficiaries of the distribution process.

- Ripple Company Takes the Stablecoin Market by Storm, Launches New Dollar-Pedged Digital Currency

She declared Ripple announced its entry into the stablecoin market by launching its new digital currency pegged to the US dollar. The new Ripple coin will compete with stablecoin giants such as USDT and USDC.

Ripple CEO Garlinghouse explained that his company's decision to launch a stablecoin was a response to the "decoupling" of USDT and USDC from the US dollar in 2022 and 2023, respectively. This has raised doubts about the authenticity of these two currencies.

Additionally, the new stablecoin Ripple will be used as a “bridge” currency to settle rapid financial transactions between banks and other institutions via its XRP-based “on-demand liquidity” product.

- PayPal announces the possibility of making international transfers in its stable currency, PYUSD

Payments giant PayPal announced Thursday that its U.S. customers with access to the PYUSD stablecoin can now use it to make international payments. This new feature is powered by Xoom, a cross-border transfer service from the payments giant that supports 160 countries.

Last August, PayPal launched its digital stablecoin, PYUSD. Since then, PYUSD has become one of the most important stablecoins in the cryptocurrency ecosystem. It also ranks 12th in its category, with capital of $190 million.

Sony enters the race to issue stable digital currencies

It's not just Ripple... The banking arm of the giant Sony has also announced the imminent launch of a stable digital currency which will be published on Polygon, and can be used in the video game and sports sectors.

According to what has been reported by the media, one of... Main Japanese media, the giant Sony wants to try a stable digital currency that would be linked to “fiat currencies, such as the Japanese yen”. This would reduce costs for users, providing a fast and flexible payment method.

The trial is expected to last several months and Sony will specifically look into the legal aspects of international transfers of the yen-based asset. The company chose the Belgian company SettleMint to support it in this project.

- Whales support AVAX price and Telegram increases Toncoin (TON) price

I became The outlook for Avalanche (AVAX) is increasingly positive, thanks to significant interest from cryptocurrency whales. Collectively, whales added nearly $52 million in AVAX, worth over $2.1 billion, in the first three days of April.

On the other hand, She announced The Telegram platform recently announced a new feature to pay with the Toncoin (TON) currency, which caused an uproar among the app's users and caused the price of the currency to rise. The new feature promises channel owners on the platform a system that rewards them financially. This also improves the monetization potential on the platform.

Thus, the adoption of Toncoin (TON) in advertisements on Telegram represents an important development. According to the platform, it chose the TON blockchain because of its efficiency and speed, which facilitates the ad buying process.

- More news on digital currencies:

  • She announced The KuCoin exchange announced the airdrop of a token worth $10 million. The move follows charges filed by the US Department of Justice (DOJ) against the cryptocurrency exchange for alleged anti-money laundering violations. The airdrop consists of $8.95 million allocated to those who experienced withdrawal delays between March 26 and 28. The drop amount also varies from 5 to 200 US dollars.

  • I witnessed Cryptocurrency exchange Cocoin has seen a staggering 20% ​​drop in user-held reserves, according to its latest Proof of Reserves (PoR) report. This drop comes amid a wave of user withdrawals. In addition to US government allegations of anti-money laundering violations.

  • revealed PeckShield, a company specializing in blockchain forensics, reported that OpenLeverage, a decentralized exchange (DEX), was the victim of a hack that resulted in a loss of $236,000. This cyberattack prompted the Stock Exchange to temporarily suspend its operations while it opened a thorough investigation into the incident.

  • Two and a half years after the collapse of FTX contract The liquidators held a meeting in the middle of last month, during which they agreed to start paying the platform's creditors by the end of 2024. It also turned out that customers will receive the equivalent of the value of their cryptocurrencies in US dollars and their value. the day the bankruptcy was announced, November 11, 2022!

  • She announced China has just announced the launch of a public blockchain infrastructure project in partnership with Conflux Network. The project, called the New Silk Road Large-Scale Infrastructure Platform, aims to support cross-border cooperation.

---More news on cryptocurrencies:

  • Struggle Justin Sun, a famous investor in the cryptocurrency sector, has filed an application with the United States Securities and Exchange Commission. Of course, this is nothing new. But it seems that the gap between the two parties has widened. Faced with the regulator's accusations, Justin Sun and his co-defendants took a defensive stance. They argue primarily on two fronts: They challenge the jurisdiction of the SEC, and they also question the basis of the charges.

  • Created Cryptocurrency exchange Binance has its first board of directors. This development follows the company's guilty plea to US charges, including anti-money laundering and sanctions violations. Gabriel Abed was named chairman of the new seven-member board of directors.

  • In a new report from blockchain data analytics platform “IntoTheBlock,” She emphasized The number of new investors in a digital currency sector, that is, those who have owned their currencies for less than 30 days, reached an all-time high last month. This is thanks to the coin craze.

  • Last October, She announced Lido announced the discontinuation of its Solana service, removing the stSOL and SOL exchange interface. Lido then officially stopped support on February 4. However, approximately 113,000 SOL tokens ($21 million) remain locked. Which affects more than 31,000 users.

  • In a recent interview with the Wall Street Journal, She says Sharmeen Mosaffar Rahmani, chief investment officer at Goldman Sachs, said cryptocurrencies “have no value.” Charmaine revealed that Goldman Sachs clients have shown no interest in cryptocurrencies despite the recent bull market.

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