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The Cryptocurrency Realm’s Weekly Roundup

The cryptocurrency realm wraps up yet another week with attention-grabbing events witnessed globally. Amid this flurry of eye-catching events, Bitcoin, Binance, & crypto market whales appear to have curated a buzz across the broader crypto market. Here’s an overview of some of the top headlines for this week encompassing Bitcoin, Binance, and whales’ crypto-related chronicles.

Bitcoin’s Pre-halving Buzz

A series of notable events surrounding Bitcoin unfolded over the past seven days. Intriguingly, a new theory on Satoshi Nakamoto’s identity highlighted three researchers as BTC creators and offered compelling evidence that piqued global attention. Whereas, as the BTC token neared its halving, a ripple effect unfolded across the broader cryptocurrency sector, with the crypto market witnessing turbulent shifts this week.

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The Bitcoin token’s price action mirrored a highly volatile movement, primarily attributed to the upcoming BTC halving. Meanwhile, investors continue to extensively eye the token as it reflects corrections and consolidations in its pre-halving phases.

Notably, Bitcoin miners, on the other hand, appear to be rushing to mine more and more BTC ahead of the halving event, making mining harder than ever. Whereas, BTC whale accumulations have continued to rise with no selloffs yet, potentially paving the way for selloffs in billions of dollars post-halving.

Nonetheless, the most significant event for BTC this week marks Hong Kong’s greenlight to Spot bitcoin ETFs. Hong Kong is reportedly poised to potentially allow exchange-traded funds (ETFs) for major cryptos like Bitcoin and Ethereum as early as Monday, fueling a sense of frenzy among crypto market participants.

Binance Sparks Speculations

Binance, the world’s leading cryptocurrency exchange, embarked upon a plethora of cryptographic-related chronicles this week that nabbed significant investor attention. Richard Teng, the CEX’s CEO, disclosed that Binance is eyeing the opening of a new headquarters soon, with the firm engaging in talks with several jurisdictions for potential locations. This primarily comes as a decision by the firm to showcase efforts surrounding addressing regulators’ and courts’ concerns over the lack of headquarters for the exchange despite its handling significant trading volumes.

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Additionally, the exchange revealed plans to remove and cease trading of specific crypto tokens, including Uniswap (UNI), Optimism (OP), and BakeryToken (BAKE), among many others. Conversely, the CEX also announced plans to expand support for Pepe Coin (PEPE), Jupiter Exchange (JUP), Ethena (ENA), and dogwifhat (WIF), introducing several new loanable assets, expanding the scope of its Binance Loans (Flexible Rate) and VIP Loan offerings.

Further, Binance Launchpool integrated Omni Network (OMNI) as its 52nd project this week, aspiring to further revolutionize Ethereum scalability.

Whales Ignite Inferences

Notably, whales across the broader crypto market are hyperactive again as cryptocurrencies witness turbulent price shifts amid the upcoming BTC halving. As mentioned above, Bitcoin accumulation by whales is on the rise, whereas several other tokens appear to have magnetized substantial whale activity over the past seven days. These tokens encompass Dogecoin, Shiba Inu, XRP, Ethereum, and many others.

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Also Read: Ben Armstrong Optimistic Over Bitcoin Price Rally To $100K Despite Crash

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