Weekly Market Summary: Bitcoin, Ethereum, Binance, Solana, and Ripple

Amid revolutionary announcements, technological evolutions, and regulatory turbulence, the crypto ecosystem continues to prove that it is both a territory of limitless innovation

The crypto ecosystem continues to be a territory of limitless innovation and a battleground of regulatory and economic challenges. Here is a summary of the most significant news from the past week surrounding Bitcoin, Ethereum, Binance, Solana, and Ripple.

GameStop is open to investing in bitcoin and stablecoins.

The board of directors of GameStop has approved an investment policy that will allow the company to invest in bitcoin and stablecoins, according to a recent SEC filing. The company, which has been undergoing a transformation in recent months, is now planning to diversify its assets and join the wave of institutional crypto adoption, similar to MicroStrategy (now Strategy ).

GameStop is planning to invest a portion of its assets into bitcoin and stablecoins, according to a recent SEC filing. The company, which has been undergoing a transformation in recent months, is now planning to diversify its assets and join the wave of institutional crypto adoption.

GameStop is no stranger to the crypto sphere. Earlier this year, the company announced that it would be accepting bitcoin, litecoin, ethereum, and ethereum classic for online purchases. The company is also reportedly considering launching its own cryptocurrency.

This move by GameStop could have a significant impact on the gaming giant's financial strategy. It is still unclear how much money GameStop plans to invest in crypto.

ETFs in XRP this year? Polymarket estimates the chances at 85%

The recent development in the lawsuit between Ripple and the SEC sparks speculation on an eventual XRP ETF. According to Polymarket, there is an 85% probability that the SEC will approve an ETF in 256 days.

This estimation is based on statements from experts like Nate Geraci, who claims that the probability is "extremely high" given the current political climate and the broad support for crypto ETFs. Major players like BlackRock and Fidelity are also prepared to launch their own products. However, some experts, like Joseph Perkins, believe that it's still too early to be sure.

Bpifrance to invest 25 million euros in crypto startups.

Bpifrance will invest 25 million euros to support blockchain projects with a strong French footprint, in areas such as DeFi, staking, AI, or tokenization. The goal is to make France a European leader in crypto innovation.

This support is part of a national dynamic that has already been underway for several years with initiatives like the Station F startup accelerator, which already supports several blockchain companies. Bpifrance is also planning to invest in crypto startups through its existing venture capital funds.

Donald Trump grants clemency to BitMEX founders.

Former President Donald Trump has granted presidential clemency to Arthur Hayes, Benjamin Delo, and Samuel Reed, founders of crypto exchange BitMEX, who were convicted of violating AML/KYC rules. This gesture is part of a broader clemency initiative that saw Trump pardon or commute the sentences of 143 individuals before leaving office.

President Biden is yet to grant any presidential pardon or commutation.

Solana reaches a new peak with 11.12 million active addresses.

Solana registers 11.12 million active addresses, a sign of returning user confidence despite a 10% drop in SOL price over the past week. This trend showcases a renewed functional interest in the network, even if the market valuation doesn't fully capture the effect.

While the market focuses on price movements, another crucial aspect of blockchain activity is network usage. Solana, known for its high throughput and low latency, is demonstrating resilience with a record high of 11.12 million active addresses in the past seven days. This signals persistent user engagement and activity within the Solana ecosystem.

This level of activity is significant considering the recent volatility in crypto markets and the broader macroeconomic challenges. Despite a 10% decline in SOL price from its recent peak, users continue to interact with the Solana network in record numbers.

Binance launches a paid messaging service on Telegram with BNB.

Crypto exchange Binance has launched ReachMe.io, a service that allows users to contact influencers on Telegram for 1 BNB. The service, which is still in beta, is being used by several major Telegram channels.

In two days, the service generated $24,000, which will be distributed to the influencers. However, the service has also been criticized for monetizing access to information and for being a scam.

Binance CEO Changpeng Zhao defended the service, saying that it is part of an effort to support the BNB ecosystem and combat spam.

"It's not a scam, it's a paid service to reach specific large Telegram channels/influencers in a guaranteed manner," Zhao said. "Many people spam them for free, but they won't reply. If you want to msg them, it's 1 BNB."

According to reports, some of the major Telegram channels that are currently on ReachMe.io include Atomic Momma, Crypto Island, and Girl on Chain, which have over 500,