This Week in Crypto: Ethereum’s Big Upgrade, Bitcoin Whales Return & Sony Jumps Into Crypto
Here's your weekly recap of the key events that shaped the crypto market this week. As of Friday, Bitcoin is trading at $83,828.40, Ethereum at $1,815.42, and the Fear & Greed Index indicates a sentiment of 25 - Fear.
Ethereum’s Next Major Upgrade Arrives May 7
Ethereum’s core developers have confirmed that the much-anticipated Pectra upgrade will go live on May 7. This update is designed to improve Ethereum’s speed, scalability, and overall efficiency, making transactions cheaper and faster. With Ethereum powering much of the decentralized finance (DeFi) space and NFT markets, this upgrade could have a major impact on the broader crypto ecosystem.
Bitcoin Whales Are Buying the Dip
Big-money Bitcoin investors are making a move. Data shows they’ve started buying large amounts of BTC after months of sitting on the sidelines. This is the first major accumulation since mid-2024 and suggests that institutional investors see long-term value in Bitcoin, even as prices fluctuate.
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New Blockchain Standard Could Change How Data Is Traded
A blockchain project called Vana has introduced a new token standard designed to make data-backed assets tradable on the blockchain. This could be a game-changer, allowing users to buy, sell, and control their own data in a more secure and decentralized way. While big tech companies profit from user data, this new system could shift power back to individuals while creating new financial opportunities in the digital economy.
7-Eleven Accepts Digital Currency in South Korea Pilot Program
In an exciting move toward digital payments, 7-Eleven locations in South Korea have started accepting the country’s central bank digital currency (CBDC) in a trial run. This experiment, led by the Bank of Korea, is testing how well a government-backed digital currency can work in everyday transactions. If successful, it could encourage CBDCs to become a normal part of retail shopping not just in Korea, but worldwide.
Sony Now Accepts USDC for Online Purchases in Singapore
Tech giant Sony has taken a major step into crypto payments by allowing customers in Singapore to buy electronics using USDC, a stablecoin pegged to the U.S. dollar. This was made possible through a partnership with Crypto.com, reflecting the growing adoption of crypto in e-commerce. With more companies experimenting with digital currency payments, this could be a sign of things to come for online shopping worldwide.
That wraps up this week’s #Tothemoon_Market_Update. Stay tuned for more insights next week!