Top 5 crypto news of the week!

PointPay
3 min readApr 14, 2024

Introducing our new regular feature — Top 5 crypto news of the week! In these articles, we’ll gather the most important and interesting news from the entire week. Let’s get started!

1. TON Coin Enters Top 10 Cryptocurrencies!

Early this week, TON coin entered the top ten largest cryptocurrencies by market capitalization. This came as the coin surged by a whopping 230% since the beginning of the year, now trading at $7.5! The sharp increase in the coin’s utility contributed to its rapid growth. Pavel Durov, the creator of Telegram, announced the ability for users to purchase advertising in Telegram using TON. Additionally, channel owners broadcasting advertisements receive a percentage reward in TON.

2. U.S. Regulators to Tighten Control Over Stablecoins

Recently, the popularity of stablecoins for cross-border payments has significantly increased. Transfers are faster, more reliable, and more convenient than traditional banking solutions. However, aside from the stated advantages, stablecoins also allow for freer transactions, sometimes used to bypass restrictions and maintain confidentiality. The U.S. Department of the Treasury highlighted the need for greater control over foreign exchanges and, in particular, the circulation of stablecoins.

3. SEC Files Lawsuit Against UniSwap

UniSwap, one of the largest platforms for developing and launching DeFi applications, has caught the attention of the SEC. Currently, there is limited additional information available. However, according to Fortune, the lawsuit is aimed at attempting to restrict the development of the DeFi sector by the SEC. Despite various laws and regulations concerning cryptocurrencies, this remains a highly free and uncertain territory. Moreover, many developers have the ability to evade regulatory scrutiny due to the nature of blockchain technology.

4. Spot Bitcoin ETFs Coming to China

The Hong Kong Securities Regulator intends to approve the first batch of spot Bitcoin ETFs as early as next week, April 15th! Investment volumes are expected to exceed $20 billion. This news is particularly noteworthy given China’s strict stance on cryptocurrencies, with companies not openly dealing with them. While the launch of Bitcoin ETFs does not directly signal a softening attitude toward cryptocurrency, it is still a highly positive development. Furthermore, all interested investors who couldn’t or didn’t want to invest directly in Bitcoin can now do so.

5. Solana Continues to Address Issues

Recently, Solana has been experiencing various technical issues. Some time ago, serious malfunctions were recorded, resulting in the unsuccessful completion of most transactions. The main cause of all this is congestion caused by bots and users conducting “undesirable” transactions. These may include small transfer amounts or intentional fund transfers between wallets to create congestion. Currently, developers are actively working to address the situation, conducting optimizations, and preparing for the implementation of new updates.

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PointPay

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