Weekly Crypto Roundup: Ethereum nears $3k, AI tokens surge and more

By: Eva Baxter

This week in the world of cryptocurrencies witnessed several high-impact developments. Ethereum is edging ever closer to the $3,000 mark, spurred by the upcoming Dencun upgrade and potential spot ETF approval. AI tokens are surging, marking a recent trend in the crypto bull run, influenced by the growing focus on Decentralized Physical Infrastructure (DePIN).

ECB officials continue to express skepticism about Bitcoin's value, despite the recent ETF approvals. Reddit disclosed its Bitcoin and Ethereum holdings in its IPO filing. In another development, cryptocurrency exchange Kraken requested the dismissal of a lawsuit brought against it by the U.S. Securities and Exchange Commission. Block Inc. reported a notable increase in profits, largely due to its Bitcoin investments.