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Between revolutionary announcements, technological evolutions, and regulatory turbulence, the crypto ecosystem continues to prove that it is both a territory of limitless innovations and a battleground of regulatory and economic conflicts. Here is a summary of the most significant news from the past week regarding Bitcoin, Ethereum, Binance, Solana, and Ripple.
Brazil considers its future around Bitcoin
Brazil is preparing for a potential financial revolution with a proposal to create a federal reserve in Bitcoin, named RESBit. Advocated by Deputy Eros Biondini, this initiative would include up to 5% of national reserves in the digital asset to protect the economy from monetary fluctuations and geopolitical tensions. Inspired by the example of El Salvador, where Bitcoin has strengthened the national economy, this project could also support the launch of the Digital Real, the digital currency of the Central Bank of Brazil. RESBit would integrate blockchain and artificial intelligence technologies for transparent and secure management, while strengthening local regulation on cryptos. If approved, this proposal would position Brazil among the global pioneers adopting Bitcoin as a strategic tool in their monetary policy.
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Ethereum at its peak: 90.8% of wallets in profit
Ethereum is marking a historic performance, with 90.8% of its holders now in profit, according to data from IntoTheBlock, an unprecedented peak in several months. With a price fluctuating around $3,570, this dynamic reflects the resilience of the network despite market fluctuations. Meanwhile, the record outflows of stablecoins observed in November reflect profit-taking by investors who anticipate new market movements. These massive flows, coupled with the rise of altcoins, highlight a transformation in investment strategies and place Ethereum at the center of attention as a central pillar of the crypto ecosystem.
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Ripple about to launch a revolutionary stablecoin: The RLUSD
Ripple has obtained approval from the New York regulator to launch its stablecoin RLUSD, backed by the dollar and designed to offer unmatched transparency and reliability. Over-collateralized and supported by cash reserves, RLUSD will launch on December 4, with regular audits to ensure its credibility. Integrated into the XRP Ledger and Ethereum networks, it aims to redefine cross-border payments by combining speed and security. Ripple also aims to extend RLUSD to other blockchains, hoping to capture a share of the stablecoin market, estimated at $2 trillion by 2028. This launch marks a strategic milestone for Ripple, but raises questions among XRP holders about the company’s future prioritization.
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Bitcoin reserves down: Binance and Coinbase under scrutiny
Bitcoin reserves on centralized exchanges continue to decline, marking a significant trend in the crypto landscape. From 3.3 million BTC in 2022, they have plunged to 2.5 million in 2024. Coinbase, favored by institutional investors, saw its reserves drop from 993,000 to 790,000 BTC this year, while Binance slightly increased its reserves, reaching 586,000 BTC in November. This overall decrease illustrates the growing adoption of self-custody solutions and reflects a more stable market dynamic.
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Changpeng Zhao criticizes memecoins
The former CEO of Binance, Changpeng Zhao (CZ), speaks out against the craze for memecoins, which he sees as a hindrance to blockchain innovation. With a market worth $110 billion, memecoins often attract novice investors, contributing to speculation and undermining the credibility of the crypto ecosystem. Although CZ calls for prioritizing blockchain projects that provide real value, Binance continues to list memecoins like WHY and CHEEMS, whose prices have collapsed after their introduction. This contradiction fuels criticism over the responsibility of platforms in investors’ losses while highlighting the need for a refocus on innovative and sustainable blockchain applications.
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That’s the essential takeaway for this week. But if you want a more detailed recap and in-depth analyses directly in your inbox, feel free to subscribe to our weekly newsletter.
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Diplômé de Sciences Po Toulouse et titulaire d’une certification consultant blockchain délivrée par Alyra, j’ai rejoint l’aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l’économie, j’ai pris l’engagement de sensibiliser et d’informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu’elle offre. Je m’efforce chaque jour de fournir une analyse objective de l’actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
