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Why Bitcoin Price Keeps Surging; Reddit’s Crypto Investments & Uniswap’s Crucial Proposal
Manage episode 403707075 series 2981868
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Join Matt and Nick as they break down the ongoing crypto rally, soaring demand for Bitcoin ETFs, Reddit’s crypto investments, and why Uniswap’s fee proposal is such a big deal for the broader altcoin market.
Key Takeaways
- Bitcoin (BTC) continues to rally, hitting a fresh two-year high of $56,700 early this week. Strong demand for ETFs is seemingly helping drive prices higher, with Monday seeing record daily volume ($2.4B) across the new nine ETFs.
- Ethereum (ETH) has returned to the spotlight as the ‘Dencun’ upgrade draws nearer and speculation over a potential spot ETF in the U.S. continues.
- Reddit revealed that it holds BTC and ETH as investments on its balance sheet and that it may buy more in the future.
- The Uniswap Foundation proposed to upgrade Uniswap’s fee mechanism so that UNI stakers and delegators can earn a portion of protocol fee revenue. It’s hard to understate the significance of this proposal and how it could affect the performance of the DeFi sector.
- Among the other altcoin updates covered: Ethena’s USDe controversy and Blast’s mainnet release.
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