Ethereum’s Power Move, Binance’s Battle, and the Dark Horses of the Crypto Race: COMP, BCH, and More
The past week has been a rollercoaster ride for the crypto industry. The market has been moving sideways, with the absence of significant crypto or macro factors. However, the SEC’s recent announcement that the spot Bitcoin ETF filings are inadequate caused a temporary dip in BTC’s price, shaking the market.
The SEC’s recently proposed rule to expand the definition of exchange to include DeFi protocols could have significant implications for Ethereum, which hosts the largest DeFi protocols. If the SEC were to crack down on DeFi, it could indirectly damage Ethereum, as reported by a top YouTube analyst.
Tired of missing hot new listings because your favorite exchange is banned in the US? 🇺🇸
With RocketXchange you can finally trade on Kucoin, ByBit and more without registration or KYC! 🙌
Simply connect your wallet to access every coin. No VPN needed.
Seamlessly bridge between EVM, Solana, Cosmos and 100+ chains. Discover the next crypto gem with low fees.
Take your trading to the next level with:
- Instant access to banned CEXs 🚫
- No KYC required 🙅♂️
- Trade on your terms – no registration required
- Maintain full custody – tokens stay in your wallet
- Access liquidity across leading DEXs and CEXs
- Bridge assets quickly between any blockchain
Escape CEX limits today with RocketXchange!
In anticipation of this, institutional investors appear to be preparing to capitalize on potential ETH/BTC volatility. The Chicago Mercantile Exchange (CME), a derivatives exchange used by institutional investors, is planning on listing an ETH/BTC futures product at the end of the month. This will allow institutional investors to capitalize on any ETH/BTC volatility, whether to the upside or downside.
Ethereum has been in the spotlight with several bullish updates. The CME plans to launch an ETH product, Hong Kong is launching an Ethereum ETF, and Coinbase’s layer 2 is preparing to launch. Despite these positive developments, Ethereum’s strength against BTC has been weak, and there are concerns about potential regulatory crackdowns on DeFi.
Binance, the world’s largest crypto exchange, continues to face regulatory scrutiny. It has been withdrawing from certain countries and is reportedly losing its banking partner in Europe. However, Binance is looking for a new banking partner and is expected to survive the regulatory challenges.
In terms of individual cryptocurrencies, Compound, Bitcoin Cash, eCash, Bitcoin SV, and Flow have been the top performers. Compound’s rise is linked to the launch of a new website and the filing with the SEC to issue government bonds on the Ethereum blockchain.
Bitcoin Cash’s rise is speculated to be fueled by South Korean traders, while eCash’s rise is linked to development updates. Bitcoin SV and Flow have also seen significant growth, though the reasons behind their rise are less clear.
In conclusion, the crypto market continues to be a dynamic and unpredictable landscape. Despite regulatory challenges and market volatility, the sector continues to innovate and grow, offering exciting opportunities for investors and enthusiasts alike.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com
