BNB Overtakes XRP in Market Cap and Bitcoin ETFs Experience Record Inflows
BNB Flips XRP to Become Third-Largest Cryptocurrency
Binance Coin (BNB) proudly surpasses XRP, becoming the third-largest cryptocurrency by market capitalization. This milestone comes as BNB rallies past $1,290, boosted by a staggering increase of over 28% in the past week, pushing BNB's market cap to $179.8 billion. In stark contrast, XRP struggles to maintain its position underneath the $3 mark, with market dynamics favoring utility-driven assets.
Bitcoin ETFs Log $1.18 Billion in Inflows
Meanwhile, Bitcoin ETFs registered $1.18 billion in inflows, marking the second-largest daily total in history. As the demand for Bitcoin continues to surge, major players like BlackRock are seeing record investments, illustrating a robust trend toward digital assets amidst financial uncertainties.
Standard Chartered's Stablecoin Projections
Standard Chartered reports that up to $1 trillion could migrate from traditional banks to stablecoins, reflecting a potential structural shift in the financial system towards digital currency adoption. This changing landscape emphasizes the necessity for banks to adapt in a rapidly evolving market.
Japanese Real Estate Firm Enters Bitcoin Market
In an exciting development, Japan's Lib Work has invested $3.3 million in Bitcoin, marking a significant step into the cryptocurrency landscape. This acquisition underscores the increasing integration of crypto within traditional sectors like real estate.
Opendoor to Accept Bitcoin for Home Purchases
Furthermore, US real estate giant Opendoor is set to accept Bitcoin for home purchases, aligning itself with the growing trend of crypto adoption in real estate transactions. This move signifies the expanding acceptance of digital currencies in everyday financial activities.
Ethereum ETFs Hold More Than 10% of Supply
Ethereum's institutional adoption continues to climb, with ETFs and corporate treasuries now holding over 10% of total ETH supply, reinforcing the asset's appeal as an investment opportunity.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.