The crypto markets were down for the week, marking a two-week streak of slightly negative price action and a three-month sideways consolidation. Bitcoin (BTC) fell 3.3%, ether (ETH) fell 1.5%, and the Nasdaq Crypto IndexTM (NCITM) declined 2.1%, despite a few bullish news events that bolstered the long-term outlook for the asset class.

 

 

Sony launches crypto exchange in Japan

Sony's foray into the crypto ecosystem through the Whalefin exchange marks a significant advancement both for the company and the sector. This move reinforces positive tailwinds toward the institutional adoption of crypto-related services by mainstream companies, presenting new opportunities to their clients and further boosting investor confidence in the integration of crypto assets in everyday life.

 

Nu Holdings integrates Lightning Network to its platform 

The partnership between Lightspark and Nu Holdings (parent company behind Nubank) to integrate Bitcoin’s Lightning Network aims to facilitate widespread access and use of Bitcoin for its 100 million customers. This integration increases Bitcoin's mainstream credibility and promises to provide fast and low-cost transactions to help boost financial inclusion and promote the adoption of crypto assets in traditional financial services.

 

Number of crypto ATMs installed nears all-time record

The global number of crypto ATMs has risen by 17.8% in the past year to 38,279 machines in 2024, nearing the record set in December 2022. This includes 2,564 new installations this year, marking a turnaround from the net loss in 2023. The US hosts over 82% of these ATMs, followed by Canada and Australia, which have seen substantial growth. This increase signals renewed interest in and adoption of crypto assets by individuals.

 

From Hahsdex: 

Notes from the CIO - Crypto’s “altseason” is coming: Why investors should pay attention

The article compares the growth of the crypto asset market to the adoption of the internet, making the case that investing in a crypto index, rather than just bitcoin, is advantageous. It also highlights how investing in crypto indices can offer strategic long-term benefits, and why now might be an attractive entry point for investors.

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