Celebrity Meme Coins, Binance Coin Bull Run and Bitcoin’s Rally: This Week’s Crypto Recap

The last seven days have been very interesting in the cryptocurrency market. The total capitalization of the industry has increased by around $150 billion as a result of Bitcoin and many other altcoins.

Price action aside, there were some interesting developments pushing the market forward, so let's dive deeper.

First, the price of Bitcoin has increased by more than 5% in the last seven days. This is significant. In fact, out of the top 10 cryptocurrencies by total market cap, only BNB is performing better (but we'll get to that later.) Bitcoin's total capitalization accounts for around 50.5% of the industry.

BTC currently trades just below $72k, inches away from an all-time high of $75k. The price rallied on June 3 and the bulls took full control on June 5 when they pushed above $70K and turned that critical level into support. Now, the question many are asking is when the leading crypto will explode above ATH.

Binance Coin (BNB), however, is the hottest story this week.

The altcoin has dominated the market and is up nearly 20%, hitting a new all-time high above $700 and showing no signs of slowing down. The community is on fire, as it seems only a matter of time before the $1K call becomes the next target.

Elsewhere, Robinhood – the most popular retail-oriented trading app – made news by announcing the acquisition of OG crypto exchange Bitstamp. The deal is worth $200 million and aims to strengthen Robinhood's presence in the cryptocurrency space, developing new products to attract institutional clients. The deal was all-cash and is expected to close in the first half of 2025.

While some high-profile celebrities in the field of meme coins seem to be jumping on the bandwagon, crypto Twitter is on the fence about whether or not that's a good thing. Meanwhile, screenshots surfaced of a conversation between wrestling legend Hulk Hogan and another man asking Hogan whether or not he could simply delete posts after selling out. The wrestler claims he didn't write the messages, but the community isn't convinced.

Overall, the crypto market is as exciting as ever, and with BTC so close to ATH, it's worth watching closely in the coming days!

Market data

Market Value: $2.801T | 24H Volume: $79B | BTC dominance: 50.5%

BTC: $71,612 (+4.4%) | ETH: $3,8316 (-0.12%) | BBNB: $705 (+17.8%)

This week's Crypto headlines you can't miss

Robinhood Bets Big on Crypto By Acquiring Bitstamp for $200M One of the most popular retail-oriented traditional trading platforms – Robinhood – has arguably made a big move to further increase its presence in the cryptocurrency industry. He bought Bitstamp – the largest exchange in the field – in an all-cash deal.

US Spot Bitcoin ETFs Record Second-Best Day at 2-Week High The price of Bitcoin has reached a high that has not been seen in the last two weeks. This also led BTC exchange-traded funds to record their second-best day ever earlier this week.

Was Hulk Hogan involved in the Solana meme coin pump and dump? Hogan became embroiled in controversy after the script was pushed on X, asking him to throw himself at the audience.

Kraken is targeting an IPO next year: Report. One of the US-based cryptocurrency exchanges – Kraken – is said to be considering an initial public offering in 2025. This is according to a report on Bloomberg.

Charles Hoskinson blasts negative media coverage of Cardano's prospects. Cardano founder Charles Hoskinson – criticized the media for predicting Cardano's failure. They argued that such claims are baseless and do not take into account the progress of the project.

Robert Kiyosaki Confident Bitcoin Will Reach $350K By August 2024, Here's How. Rich Dad Poor Dad author and financial guru Robert Kiyosaki thinks the price of Bitcoin could reach $350,000 in August. He recently shared this on his Twitter page.

Charts

This week we have a chart analysis of Ethereum, Ripple, Binance Coin, Shiba Inu and Polkadot – click here for the full price analysis.