Weekly Recap: Bitcoin Rebounds to $111K on Rate Cut Hopes
Happy weekend Defiers!
Crypto markets rebounded this week, with BTC gaining 4% in the past seven days as investors look ahead to next week’s Fed meeting, where the U.S. central bank is widely expected to cut interest rates by 25 basis points.
President Trump pardoned Binance founder Changpeng ‘CZ’ Zhao, sparking a rally across the BNB Chain ecosystem.
Upcoming stablechain Stable is facing backlash after its $800 million pre-deposit vault was filled by a handful of large wallets prior to the public announcement.
Meanwhile, Solana DEX Meteora launched its MET token, which is trading at a $500 million valuation.
Finally, the pre-market valuation of ‘real-time’ blockchain MegaETH reached $6 billion after Hyperliquid launched perpetuals for the MEGA token.
Enjoy!
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Top stories this week
Crypto Markets See Moderate Gains as US Inflation Hits 3%
Crypto markets rallied on Friday, after fresh U.S. economic data showed that inflation remains in check, reinforcing bets that the Federal Reserve will cut interest rates next week.
Bitcoin climbed 2% to $111,500, while the total crypto market cap gained 1.5%.
Meanwhile, BitMine added another $800 million worth of ETH.
BNB Rallies After Trump Pardons Binance Founder CZ
BNB surged sharply on Thursday following news that President Donald Trump pardoned Changpeng “CZ” Zhao, the co-founder and former CEO of Binance, the world’s largest crypto exchange.
Stable Controversially Pre-Fills $825 Million Vault
When Bitfinex-backed Stable opened up public deposits to its capped vault, retail users found that the team had pre-filled the vault before the public even had a chance.
Notably, $500 million of the total $825 million cap was pre-filled by a cluster of ten wallets directly linked to the Stable Vault owner.
Solana DEX Meteora Launches Native MET Token
Meteora, the Solana-based decentralized exchange, launched its native MET token on Thursday.
Approximately 48% of the total MET supply was released immediately, distributed to early supporters, liquidity providers, and ecosystem contributors.
MegaETH Pre-Market Valuation Reaches $6 Billion
Upcoming Ethereum Layer 2 network MegaETH unveiled the terms for its third community-led raise, coinciding with the launch of MEGA pre-market perpetuals on Hyperliquid.
Trending
- Stable Controversially Pre-Fills $825 Million Vault
- XRP Surges as Ripple Completes Hidden Road Acquisition
- Crypto Markets See Moderate Gains as US Inflation Hits 3%
- Solana DEX Meteora Launches Native MET Token
- Aster Rallies on ‘Rocket Launch’ Incentives Campaign
- Bitcoin Attempts to Reclaim $110,000 as US Stocks Rebound
