Crypto Market Stagnant as Institutional Players Enter Industry
The crypto market started the day without significant price movements, with Bitcoin trading around $59,791 and Ethereum at $1,577. The top 10 cryptocurrencies by market capitalization showed negative weekly dynamics.
Kiwoom Securities is negotiating to buy a stake in Bithumb, South Korea's second-largest crypto exchange, through the issuance of new shares. This move follows other major financial groups investing in the crypto industry, such as Hana Bank and Samsung structures.
Loopring, a notable zk-rollup project, is shutting down its decentralized exchange and automated market maker due to weak demand, lack of business expertise, and technological lag behind more modern solutions.
Sharplink has resumed buying Ethereum after an eight-month pause, purchasing $62.4 million worth of ETH over the past week.