The past week has been a rollercoaster ride in the world of finance, with cryptocurrencies taking center stage. From Kevin O’Leary’s endorsement of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) to a golden statue of Donald Trump holding a Bitcoin, the crypto world has been anything but dull.
Here’s a quick recap of the top stories that made headlines over the weekend.
Kevin O’Leary’s Crypto Endorsement
Renowned investor Kevin O’Leary made waves this week by suggesting that Bitcoin and Ethereum are sufficient to capture the majority of the cryptocurrency market’s volatility and yield. In an interview with Al Arabiya English, O’Leary advised against chasing the multitude of “irrelevant” tokens in the market, stating that Bitcoin and Ethereum can “capture the promise” of cryptocurrency.
Bitcoin Unmoved By Fed Rate Cut
Despite the Federal Reserve’s first interest rate cut of the year, Bitcoin remained unmoved. However, other major coins such as Ethereum, XRP (CRYPTO: XRP), and Dogecoin (CRYPTO: DOGE) saw significant spikes. Bitcoin’s dominance dropped below 57%, while capital rotated to altcoins, boosting their market share to 30%.
See Also: Dogecoin Price Drops Even As America’s First ‘DOJE’ ETF Debuts: What You Should Know
Cathie Wood’s Big Bet on Solana Treasury Play
Cathie Wood-led Ark Invest made a significant move by purchasing a total of 6,500,001 shares of Brera Holdings across multiple ETFs. This bold move comes at a time when Brera Holdings' stock closed at $24.90, marking a remarkable increase of 225.49% in its value.
Golden Trump Bitcoin Statue In DC
In a flashy stunt, crypto supporters placed a foam-made golden statue of President Donald Trump holding a Bitcoin on the National Mall in Washington, D.C. The statue served as a tribute to Trump’s pro-crypto stance and as a marketing tie-in for a linked meme coin.
Ethereum’s ‘Macro Super Cycle’
Tom Lee, co-founder of Fundstrat and newly appointed chairman of Bitmine Immersion Technologies Inc, suggested that Ethereum is entering a “super cycle” that could define the next decade. Lee highlighted that financial institutions are increasingly choosing Ethereum as the backbone for digitizing assets.
Image via Shutterstock
Read Next: Bitcoin, Ethereum, XRP, Dogecoin Dip: The Level To Watch On The Weekend
This story was generated using Benzinga Neuro and edited by Ananya Gairola
