Bitcoin, Solana, & Shiba Inu Fuels Inferences

Another week ends with substantial developments witnessed across the cryptocurrency landscape. Among these developments, Bitcoin, Solana, and Shiba Inu appear to have gained the most traction within the market. Aligning with these, some of the top headlines that birthed tidal waves of speculations are:

Bitcoin Surges Past $47K

Bitcoin, the world’s first-ever digital currency, saw quite the week as its price surged past the $47K mark pre-halving recently. As per market charts, the token traded at $47,336.68 as of press time, garnering noteworthy interest among crypto market enthusiasts. Meanwhile, retail and institutional investors accumulated spot Bitcoin ETFs as BTC price rallied, nearing $48K as of Friday. Amid this chronicle, BlackRock inflows registered a gradual decrease this week, with Grayscale Bitcoin ETF dropping to a record low.

In the interim, Ark 21 shares and Microstrategy’s BTC holdings topped $10 billion, hinting at increased investor confidence. This further aligns with the price surge witnessed by BTC recently.

Solana’s Outage

The Solana network witnessed an outage of roughly 5 hours, birthing market panic across the crypto realm this week. Market experts proclaim that the SOL Mainnet encountered a substantial performance degradation chronicle due to BPF loader and TPS issues, halting Solana’s block processing at 10:00 UTC on Tuesday.

Aligning with this, Upbit, a renowned cryptocurrency exchange, unveiled plans to halt trading for SOL, GMT, RAY, and ACE tokens. The SOL price also witnessed a notable impact following the outage, plunging significantly.

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Shiba Inu Sparks Optimism

Shiba Inu, a prominent Ethereum-based meme coin, marked a storm of strides this week as the cryptocurrency advanced with numerous developments. Firstly, its partnership with K9 Finance to facilitate seamless BONE staking gained significant traction. Subsequently, Marswap’s expansion of services on Shibarium, bringing a plethora of new features, further jacked up the SHIB tokenomics.

Additionally, WoofSwap’s plans to consider bridging Shibmap to ERC404 further revolutionized Shiba Inu’s cryptographic venture. In the interim, the meme coin’s burn rate also witnessed a jump quite a few times this week, birthing market optimism for SHIB.

Also Read: Justin Sun Burns $50M in HT Tokens, Supply Shrinks to 110M