Welcome to This Week in Crypto, where we break down the biggest headlines shaping the digital asset space. From rising mining benchmarks to major treasury moves and surprise celebrity returns, here’s what’s been making news this week:

Here’s a quick look at what’s new:

  • Ethereum plans gas limit increase: Developers approved a bump to 60 million gas as part of the upcoming Fusaka upgrade, aimed at improving network throughput.
  • Strategy adds $22M in Bitcoin: Strategy Inc. added 196 BTC last week, bringing its total holdings to over 640,000 Bitcoin, the most of any public company.
  • October set for crypto ETF deadlines: The SEC has 16 crypto ETF applications on its calendar next month, including proposals tied to Solana, XRP, and Litecoin.

Let’s take a closer look at what it all means for the crypto space this week!

Ethereum to Raise Gas Limit to 60 Million in Upcoming Upgrade

Ethereum developers have approved another increase to the network’s gas limit as part of the upcoming Fusaka upgrade. This move aims to help Ethereum handle more transactions as network usage continues to grow. The upgrade is set to roll out with testnet launches in October and a mainnet release expected shortly after.

  • The gas limit is increasing to 60 million, marking the third time it has been raised this year.
  • Higher gas limits allow more transactions per block, improving efficiency across the Ethereum network.
  • While some support the change, others worry that it could strain smaller node operators.

The Fusaka upgrade reflects Ethereum’s continued focus on scaling and performance. Developers hope the changes will improve both Layer-1 and Layer-2 activity before the year ends.

Strategy Adds More Bitcoin, Now Holds Over 640,000 BTC

Strategy Inc. has added another 196 Bitcoin to its corporate holdings, according to a new SEC filing. The purchase totaled $22.1 million and brings the company’s total Bitcoin balance to 640,031 BTC. This marks one of Strategy’s smaller weekly acquisitions, continuing a recent trend of slower buying.

  • The purchase was made at an average price of just over $113,000 per coin.
  • Strategy’s total Bitcoin cost basis is about $47.35 billion, with an average price of roughly $73,983 per BTC.
  • Despite market pressure, the company continues to grow its holdings through regular buys.

While the firm’s co-founder has expressed confidence in long-term growth, Strategy’s buying pace has cooled in recent months. The company remains the largest public holder of Bitcoin to date.

October Set for Multiple Crypto ETF Deadlines

The U.S. Securities and Exchange Commission (SEC) has final deadlines in October for 16 crypto ETF applications. These proposals cover a range of digital assets beyond Bitcoin and Ethereum, including Litecoin, Solana, XRP, and Dogecoin. While the deadlines are spaced throughout the month, decisions may be made at any point before each final date.

  • The first application due is Canary’s Litecoin ETF on October 2, followed by others including Grayscale’s Solana and XRP filings.
  • The SEC recently approved a listing standard change that could simplify future crypto ETF launches.
  • BlackRock and Fidelity are not among the applicants with October deadlines, though other asset managers remain active.

Analysts and industry participants are closely watching how the SEC responds to these applications. The outcomes could provide more clarity on the agency’s evolving approach to crypto-based investment products.

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