This week, the cryptocurrency market witnessed significant events, including Bitcoin's historical achievements and notable trends across the industry.
Bitcoin Hits All-Time High
Bitcoin (BTC) reached a new record, briefly rising above $123,000 on July 14. This increase solidifies BTC's status as the leading digital asset amid a surge in institutional demand.
The growth was driven by spot Bitcoin ETFs, which attracted $2.7 billion in inflows last week. Analysts also point to the impact of global inflation and weakening national currencies on demand for BTC.
IBIT Surpasses $80 Billion in Assets
iShares Bitcoin Trust (IBIT) by BlackRock has become the fastest ETF in history to exceed $80 billion in assets under management, achieving this milestone just 374 days after its launch. The fund attracted over $1 billion in a single night, thanks in part to Bitcoin's recent price rally.
Currently, IBIT holds more than 700,000 BTC, representing approximately 3.55% of all BTC in circulation.
Pump.fun ICO Raises $500 Million
Pump.fun completed its public token sale in just 12 minutes, raising $500 million. During the initial offering, 12.5% of the total PUMP token supply was sold. The project has also acquired Kolscan, a wallet-tracking analytics platform, enhancing its social trading tools.
IBIT's success and the market capitalization approaching $4 trillion highlight the growing interest in cryptocurrencies. The significant rise in Bitcoin and Pump.fun's achievements underscore investors' robust growth outlook.
