The post Celebrity Meme Coins, Binance Coin Bull Run and Bitcoin’s Rally: This Week’s Crypto Recap appeared on BitcoinEthereumNews.com.

The past seven days have been very interesting within the cryptocurrency market. The industry’s total capitalization increased by around $150 billion on the back of gains made by Bitcoin and many other altcoins. Price action aside, there were interesting developments that are pushing the market forward, so let’s dive deeper. First, Bitcoin’s price has risen more than 5% in the last seven days. That’s significant. In fact, out of the top 10 cryptocurrencies by total market cap, only BNB is performing better (but we will get to that later). Bitcoin’s total capitalization accounts for around 50.5% of the industry. BTC currently trades at slightly below $72K, inches away from its all-time high of around $75K. The price started going up on June 3rd, and the bulls took full control on June 5th, when they pushed above $70K and turned that pivotal level into support. Now, the question that many are asking is when the leading crypto will explode above its ATH. Binance Coin (BNB), however, is this week’s hottest story. The altcoin dominated the market, increasing by almost 20%, charting a new all-time high above $700, and showing no signs of slowing down. Calls for $1K being the next target are already catching fire in the community, as it only seems a matter of time. Elsewhere, Robinhood – arguably the most popular retail-oriented trading application – made the news by announcing the acquisition of the OG crypto exchange Bitstamp. The deal is worth $200 million and aims to bolster Robinhood’s presence in the field of cryptocurrencies while also attracting institutional clients by developing new products. The deal was all-cash and it’s anticipated to be finalized by the first half of the upcoming 2025. In the field of meme coins, some high-level celebrities are seemingly jumping on the bandwagon, with crypto…

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Filed under: News - @ June 7, 2024 8:22 pm