Bitcoin (BTC) surged above $67,000 on Friday morning, reversing Thursday’s drop below $65,000. This rise coincided with a renewed increase in inflows into spot Bitcoin ETFs, marking the fourth straight day of positive additions. This week was also notable for major institutional players revealing significant BTC ETF holdings. For example, Morgan Stanley yesterday announced an investment worth $269.9 million in Grayscale’s GBTC.
Ethereum’s incredible upside potential
Ethereum (ETH) has underperformed compared to other major digital assets this year, but shows significant upside potential. The second-largest cryptocurrency has had mixed performance recently but could be on the verge of a significant price surge, several prominent analysts have said. Although it has lagged Bitcoin’s gains this year, optimistic forecasts suggest ETH could potentially rebound into the five-digit range. The significance of a potential US spot ETH ETF approval could also have a significant impact on the market.
Fantom’s FTM is appreciated with the Sonic upgrade.
Fantom Blockchain’s FTM was one of the best-performing Bimeme tokens last week, rising 13% over the past seven days to around 81 cents. This rise was driven by the positive market response to the Sonic upgrade and the increase in Total Value Locked (TVL) in the protocol. The Phantom Foundation has been actively promoting Sonic’s latest upgrade. This upgrade will boost transaction speeds to 2,000 transactions per second with a finality of 1.1 seconds, a significant improvement over the 2.5 TPS recorded on-chain over the past month. The data shows.