Bitcoin, Solana, Shiba Inu Fuel Inference
Another week concludes with significant developments seen across the cryptocurrency landscape. Among these developments, Bitcoin, Solana, and Shiba Inu appear to have garnered the most market traction. In line with this, here are some of the major headlines that have created waves of speculation:
Bitcoin surges past $47,000
Bitcoin, the world’s first digital currency, has had quite a week recently, with its price surging past $47,000 before the halving. According to market charts, the token is trading at $47,336.68 as of press time, attracting notable attention among cryptocurrency market enthusiasts. Meanwhile, as BTC prices rise, retail and institutional investors have been accumulating spot Bitcoin ETFs, which are close to $48,000 as of Friday. Amid this record, BlackRock inflows recorded a gradual decline this week and the Grayscale Bitcoin ETF fell to an all-time low.
Meanwhile, Ark 21 stock and Microstrategy’s BTC holdings have surpassed $10 billion, suggesting increased investor confidence. This is consistent with the recent price surge witnessed by BTC.
Solana’s Blackout
The Solana network witnessed an outage of approximately five hours, sparking market panic across the cryptocurrency world this week. Market experts said the SOL mainnet suffered significant performance slowdowns due to BPF loader and TPS issues, and Solana’s block processing was halted at 10:00 UTC on Tuesday.
In line with this, Upbit, a famous cryptocurrency exchange, announced plans to stop trading SOL, GMT, RAY, and ACE tokens. SOL prices were also noticeably affected following the outage, plummeting significantly.
Also Read: 5 Reasons Why Terra Luna Classic (LUNC) Price Is Rising
Shiba Inu inspires optimism
Shiba Inu, a popular Ethereum-based meme coin, has made huge strides this week as the cryptocurrency progresses through numerous advancements. First, our partnership with K9 Finance to facilitate seamless BONE staking has gained significant traction. Since then, Marswap’s expansion of the Shibarium service has brought numerous new features to further enhance the SHIB token economics.
Additionally, WoofSwap’s plan to connect Shibmap to ERC404 further revolutionizes Shiba Inu’s crypto venture. Meanwhile, the burn rate of meme coins also surged several times this week, creating market optimism about SHIB.
Also Read: Justin Sun Burns $50 Million Worth of HT Tokens, Reduces Supply to 110 Million
The post Cryptocurrency Headlines of the Week: Bitcoin, Solana, Shiba Inu Fuel Inference appeared first on CoinGape.
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