Top 5 Crypto News of the Week! (09 - 15 June)
Dear PointPay Family,
The week flew by, leaving behind a trail of events and news. We have picked the Top 5 key changes over the last 7 days to keep you on track with the cryptosphere!
Ethereum Staking Hits Record High as Confidence in Network Grows
Investor confidence in Ethereum continues to climb, with staking levels reaching a historic peak. More than 34.67 million ETH-valued at over $100 billion-are now locked out of circulation, reinforcing the strength of Ethereum's proof-of-stake model. The steady rise in participation points to growing institutional involvement and long-term accumulation strategies. This shift could tighten ETH supply and potentially support future price growth.
BlackRock's Bitcoin ETF Becomes Fastest Ever to Cross $70B
BlackRock's iShares Bitcoin Trust (IBIT) has broken records by surpassing $70 billion in assets under management in just 341 days-five times faster than any previous ETF. The milestone underscores Bitcoin's growing legitimacy among institutional investors, especially as IBIT launched amid market uncertainty and regulatory skepticism. BlackRock now holds over $76 billion in crypto, reflecting broader interest in digital assets as an alternative to traditional finance.
China to Liquidate Seized Crypto Through Hong Kong Exchanges
In a significant development, China will begin selling confiscated digital assets via regulated platforms in Hong Kong. Over 194,000 BTC and 833,000 ETH-seized in criminal proceedings-will be converted to yuan under the oversight of the China Beijing Equity Exchange. This marks the first structured effort by a mainland entity to offload crypto holdings, highlighting Hong Kong's growing role as a bridge between regulated finance and digital asset markets.
Bitcoin Supply Shrinks as Traders Brace for Market Volatility
Bitcoin is entering a critical phase as on-chain data shows a sharp decline in exchange and OTC balances. With available supply tightening and open interest reaching elevated levels, the market appears poised for heightened volatility. This trend suggests increasing accumulation by long-term holders, raising the chances of sudden price movements as liquidity continues to dry up.
PayPal Plans Stellar Integration to Expand PYUSD Use Cases
PayPal is preparing to bring its USD-pegged stablecoin, PYUSD, to the Stellar blockchain, pending regulatory approval. The move aims to enhance cross-border payments, financial access, and real-world utility for users and merchants worldwide. With Stellar's infrastructure offering speed, low fees, and broad connectivity, PYUSD could become a more practical tool for everyday transactions, working capital solutions, and global commerce.
🔥 Buy PXP tokens on MEXC: http://bit.ly/3UhCgZn
🔥 Buy PXP tokens on Bitrue: https://bit.ly/3JEreHu
🔥 Buy PXP tokens on WhiteBIT: https://bit.ly/3qJrjRH
💰 Earn up to 7% yearly with PXP staking
🏦 PointPay - all crypto services in one place!