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As the week draws to a close, the cryptocurrency space seems to be making significant progress. The market's sentiment seems to be turning excitingly with the introduction of spot Bitcoin ETFs in the larger crypto space. On the other hand, prominent cryptocurrency exchange Binance sent out a number of important notifications to its consumers this week. In the meantime, more attempts to increase the LUNC and USTC tokenomics were encouraged by the Terra classic community.
In keeping with this, the following are a few of the top headlines that piqued interest in the cryptocurrency space:
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Bitcoin ETFs are Growing in Acceptance
One more week has passed since spot Bitcoin ETFs were introduced to the American trading market. Market data shows that these ETFs' popularity has rapidly increased since their launch.
In line with this, net inflows have been rising this week, and an increase in the overall trading volume of ETFs has also been observed. Bitwise, Fidelity, and BlackRock seem to be topping the list of the finest ETF service providers, drawing in investors from all across the country.
In the meantime, Hong Kong is aiming to get the first Bitcoin ETF approved in the country. This week, financial services company Venture Smart Financial Holdings Ltd. disclosed plans to do the same.
Binance Induces Conclusions
The top cryptocurrency exchange in the world, Binance, sent out a number of significant notifications to its consumers this week. Manta Network was just added to the platform's library when Manta Pacific's TVL topped $800 million. In addition, it added a 75x leverage DOGE perpetual contract to its inventory.
Notably, the company also announced listing ETC, ENS, and TIA in FDUSD & USDC pairs while delisting some spot trading pairs of BTC, ETH, and BNB. Concurrently, the company declared its launch in Thailand, made possible by Gulf Binance.
With this, Binance concludes another week filled with unprecedented innovations.
Terra Classic Encourages Conjecture
The Terra community seems to be gaining more support for its tokens, according to multiple publications published by CoinGape Media within the previous week. Recently, the community made plans to forward a proposal to "investigate EVM functionality." Terra did this in an attempt to create a cutting-edge station wallet that attracted a lot of attention worldwide.
But after a voting record, the community rejected the proposition. In keeping with this, Allnodes wrote in a note, "Even focusing solely on a compiler, it's uncertain how much research and development will cost in the near future and how much maintenance will cost in the long run. Before considering a favorable signal for funding, this needs to be assessed.
A core security package update was also announced by the community in the interim.