Bitcoin today reached a new 2024 high of $65,646, officially breaking through the $65,000 resistance level. While BTC was recovering from $38,500, we had been consistently discussing the potential for this movement to continue up to $65,000. The target was achieved much faster than expected, indicating that surpassing the previous bull run’s peak was a modest goal. So, what else happened in the world of cryptocurrencies today?
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Following record ETF volumes last week, we witnessed the second-largest week of inflows this year, with nearly $2 billion in net entries becoming increasingly normalized. USDT surpassed the $100 billion threshold, and Tether announced a new tool to secure USDT assets across different networks.
Bitcoin and New ATH
Bitcoin price surpassed 60,000 in EURO parity, reaching an ATH level. River Intelligence marketing director Sam Wouters stated that the Mexican peso is the next ambitious target for Bitcoin. In November 2021, while the peak was 1.4 million pesos, BTC is currently at 1.1 million. In TRY parity, BTC has been reaching new ATH levels for a long time. Today, the 2 million TL threshold was also crossed.
Coinbase
Crypto exchange Coinbase is announcing new SDKs (code libraries) and products to contribute more to the ecosystem’s development. Today, they revealed that they will make life easier for Web3 developers with embedded wallets. According to the announcement, the exchange’s new smart wallet solutions make users’ crypto balances visible in various EVM-compatible applications integrated with the Coinbase Wallet SDK.
“Last year we learned a lot from our customers, and we worked hard to improve the product experience of all services, leading to the development of Embedded Wallets.”
Binance and Nigeria
Still the largest cryptocurrency exchange by volume, Binance is forced to make tough decisions for certain regions. The latest move was a result of pressure from the Nigerian government, which is troubling for investors in the region. According to the government, Binance’s P2P service is causing the local currency to devalue.
Binance exchange has removed the Nigerian naira from its P2P service. Presidential advisor Bayo Onanuga stated that if Binance’s exchange rates are not stopped, they will destroy Nigeria’s economy as they are arbitrarily set.
