The crypto market ends this week with notable developments playing out across the broader sector. Bitcoin (BTC) ended the week at the $68,000 level on the back of an “updraft” bull market, while the memecoin sector grabbed attention with a notable rally. At the same time, new developments in the XRP lawsuit have heightened investor speculation over Ripple coin's price.
Here is a quick report on some of the top crypto market headlines from CoinGape Media over the past week. These sent the entire market into a frenzy.
Bitcoin holdings reach $68,000, sparking optimism
BTC price remained at the $68,000 level at the end of this week, mainly due to bullish market dynamics. The Spot Bitcoin ETF has recorded $2.13 billion in inflows over the past seven days, highlighting the growing interest from institutional investors in the asset. At the same time, Robinhood this week announced futures trading plans for Bitcoin and Ethereum, increasing optimism surrounding the assets.
Japan this week unveiled plans to unveil a massive stimulus package, exceeding last year's injection of $87 billion. This development further strengthened the optimism regarding BTC price movement.
Additionally, American entrepreneur Elon Musk's Tesla moved a $760 million stash of BTC this week, further heightening investor speculation. Additionally, Samara AG, a major German listed company, announced plans to add more BTC to its holdings. Additionally, Mike Novogratz's Galaxy Digital also raised nearly 500 BTC this week, sparking market discussion. In summary, the leading cryptocurrencies are capitalizing on significant buying pressure this week amidst recent market events.
XRP lawsuit shows new development
At the same time, the XRP litigation saw some surprising developments this week. The US SEC recently filed a Form C as part of its appeal against Ripple. However, the XRP community was energized because XRP's status as a non-security was not challenged.
Later, attorney Fred Rispoli said Ripple executives Brad Garlinghouse and Chris Larsen did not miss the chance to defend themselves at full trial, but questioned some of the SEC's charges. criticized for being Meanwhile, Ripple announced Uphold and Bitstamp as exchange partners for the launch of the RLUSD stablecoin. Additionally, XRP whales continued to dump on exchanges, increasing market speculation. All in all, the above developments drew a lot of attention to Ripple's native cryptocurrency XRP, which ended this week at the $0.54 level.
Meme-themed Crypto Echo Frenzy
At the same time, this week saw some notable developments in the meme coin sector. Dogecoin's price started the week on an optimistic note, rising on the back of Elon Musk's $75 million worth of donations to elect Donald Trump. Meanwhile, DOGE whales acted to accumulate in large quantities, increasing optimism about the asset's price movements. DOGE price ended the week at the $0.14 level. Furthermore, Grayscale has hinted at the possibility of meme token listing.
Meanwhile, the price of Goatseus Maximus (GOAT) soared significantly amid this week's massive listing, making it the talk of crypto town.
On the other hand, Shiba Inu expressed optimism based on the remarkable development of the ecosystem. SHIB burn has increased significantly over the past 7 days. Meanwhile, Shaitoshi Kusama revealed an innovative partnership for the SHIB financial class.
coin ape staff
CoinGape is comprised of an experienced team of native content writers and editors who work around the clock to cover news from around the world and present it as fact, not opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
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