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Between groundbreaking announcements, technological developments, and regulatory turbulence, the crypto ecosystem continues to prove itself to be a land of limitless innovation and a field of regulatory and economic battlegrounds. Here’s a roundup of the most notable news from the past week on Bitcoin, Ethereum, Binance and Solana, and Ripple.
Louisiana Accepts Bitcoin for Public Payments
The state of Louisiana is becoming a pioneer in the United States by officially accepting Bitcoin and other cryptocurrencies to pay for public services. This initiative, which aims to offer citizens more flexibility in their interaction with the administration, represents a turning point in the adoption of cryptocurrencies. By allowing residents to pay taxes and administrative services with cryptocurrencies, Louisiana hopes to attract a young and tech-savvy population. The decision could influence other US states and governments around the world to integrate cryptocurrencies into their economic systems, strengthening their legitimacy and paving the way for clearer regulation.
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Mysterious XRP transfer shakes up the market
On September 18, 2024, Ripple co-founder Chris Larsen made a surprising transfer of 50 million XRP (approximately $29 million) from his personal wallet to an unknown address. This transfer, revealed by Whale Alert, was followed by a 4% increase in the price of XRP, reaching $0.5845 and triggering a 14.1% increase in trading volume. Representing approximately 10% of its XRP holdings, the transaction raised concerns about the possibility of a massive selloff. In addition, the operation coincides with the political support Larsen has shown for Kamala Harris, fueling speculation of a possible political donation. The gesture also comes on the back of XRP’s transformation, with initiatives like the Grayscale XRP Trust aiming to attract institutional investors.
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Play Solana Gen1: The first Web3 game console on Solana
Play Solana launches PSG1, the first portable Web3 console built entirely on the Solana blockchain. With this innovative console, players will be able to enjoy a smooth and secure gaming experience while taking advantage of cryptocurrencies for fast and cheap transactions. Exclusive “Player1” status holders will have priority and discounted access to PSG1 pre-orders. This launch marks the beginning of the Web3 ecosystem centered around this console.
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Donald Trump buys hamburgers with bitcoins
On September 18, 2024, Donald Trump, former President of the United States and 2024 presidential candidate, attracted attention by paying for hamburgers with bitcoins at a bar in New York, PubKey. The symbolic gesture, made at a facility known for accepting cryptocurrency payments, was seen as a sign of support for technological innovation and an attempt to attract young, tech-savvy voters. The transaction, widely shared on social media, represents an important milestone in the adoption of cryptocurrencies by prominent public figures and shows that cryptocurrencies can be integrated into everyday life in a simple and accessible way.
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Pectra: Ethereum splits its update to avoid crash in 2025
Necessary to improve the efficiency and scalability of the network, Ethereum’s Pectra update will be split into two phases to accelerate its deployment. Originally planned for a one-phase release, this update was split to avoid a catastrophic delay that could slow down the network’s development. Developers are planning the first phase from February 2025 to limit the risks of a massive deployment at once. This movement helps reduce pressure and adjust functions after the first stage, although some observers fear instability if the second stage is slow to start. Despite these concerns, Pectra could be the most important update in Ethereum’s history and play a vital role in its future in the face of growing competition from other blockchains.
🔗 Read the entire article here
That’s the main thing to remember this week. But if you want a more detailed recap and in-depth analysis delivered straight to your inbox, be sure to subscribe to our weekly newsletter.
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A graduate of Sciences Po Toulouse and holder of the blockchain consultant certification issued by Alyra, I joined the Cointribune adventure in 2019. Convinced of the potential of blockchain to transform many sectors of the economy, I made a commitment to raise awareness and inform the general public about this ever-evolving ecosystem. My goal is to enable everyone to better understand blockchain and take advantage of the opportunities it offers. Every day I try to provide an objective analysis of current events, decipher market trends, convey the latest technological innovations and put into perspective the economic and social problems of this ongoing revolution.
DISCLAIMER OF LIABILITY
The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.