Crypto Market Surges As Sui Rumours Swirl

Key Takeaways

• Bitcoin rebounded to $95,500, its highest level since February, and the overall crypto market cap returned to above $3T for the first time since early March.
• U.S. spot Bitcoin ETFs recorded their biggest week of net inflows in five months, and the second-highest of all time.
• Mastercard is expanding support for stablecoin payments, working with Circle, Nuvei and Paxos to enable direct merchant settlement. This will allow over 150M merchants across the Mastercard network will now have the option to receive payments in stablecoins, regardless of how a customer pays.
• Arizona lawmakers passed a bill allowing the state treasurer and retirement system to invest up to 10% of available funds in digital assets, specifically bitcoin, sending it to the governor’s desk for approval. If approved, the state would be the first in the U.S. to require public funds to invest in Bitcoin.
• Token2049 Dubai, one of the largest crypto conferences globally, kicks off this week. Expect many announcements and altcoin updates.