New Series: Weekly Crypto Recap

05.01.2024

Bitcoin Price Action:Bitcoin dipped from $45,000 to just above $42,000 early in the week, followed by a recovery to around $43,800. The volatility was largely driven by Bitcoin ETF speculation. ETF Hype:Rumors surged on social media about a potential SEC approval for a Bitcoin ETF, driving market activity. Altcoin Trends:Altcoin movements varied, with Solana and meme coin Bonk drawing particular interest from investors. MicroStrategy Stock Sale:Michael Saylor sold 315,000 MicroStrategy shares, totaling nearly $216 million. Bitcoin Genesis Block Turns 15:On January 3, 2009, the very first Bitcoin block was mined — marking the birth of the crypto era. Exchange Volume Milestone:Monthly trading volume across crypto exchanges exceeded $1 trillion — the first time since September 2022. Airdrop Scam Losses:Nest Wallet’s head lost 52 stETH (~$125,000) to a fake airdrop scam. Orbit Bridge Hack:Hackers drained over $80 million from cross-chain bridge Orbit Bridge. Vitalik Buterin's 2024 Roadmap:Ethereum co-founder Vitalik Buterin shared an updated roadmap for 2024 — with only minor changes from last year. Binance Growth:Binance reported a 30% increase in its user base over 2023. OKX Delists Privacy Coins:Exchange OKX will delist several privacy-focused cryptocurrencies in early January. Market Sentiment & Regulations:Sentiment remained cautiously optimistic, as traders monitored regulatory moves and macro trends.