In recent developments in the cryptocurrency market, spot Bitcoin exchange-traded funds (ETFs) reported $1.7 billion in weekly inflows, marking a six-week streak of positive flows. BlackRock’s iShares Bitcoin Trust leads the way with total inflows of $29.3 billion, while Grayscale’s Bitcoin Trust ETF has seen significant outflows. Ether ETFs also enjoyed growth, attracting $515 million, reflecting a broader trend of increasing interest in cryptocurrency. On the Solana network, decentralized applications recorded peak revenue due to a resurgence in memecoin activity, with protocols like Raydium and Jito generating millions in fees. Additionally, U.S. Senator Cynthia Lummis proposed converting a portion of the government’s gold holdings to Bitcoin to establish a strategic reserve, advocating for the accumulation of 1 million BTC to bolster the U.S. dollar against potential currency devaluation.

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