The immersive world of crypto has endured another week in which primarily Bitcoin (BTC), XRP coin and Shiba Inu (SHIB) stole the spotlight. Notably, the flagship crypto saw events unfold in favor of its future movements, while XRP and Shiba Inu reflected immense optimism in light of community advancements. While the meme coin has seen notable burn epics over the past week, the ripple effect of Trump’s re-election has sparked optimism on the Ripple Labs-backed asset.
Bitcoin expects further gains amid Q4 rally
Notably, a series of events in Bitcoin’s favor this week have led to optimism in the market. BTC miner MARA announced plans to raise $700 million in an effort to strengthen its ongoing Bitcoin buying effort. Simultaneously, healthcare-focused firm Semler Scientific announced the purchase of $29 million worth of crypto, bringing increased buying pressure to the crypto asset. Additionally, MicroStrategy announced the purchase of 15,400 BTC for $1.5 billion this week, reinforcing investor optimism on the coin. Furthermore, Bitcoin miner Hut 8 announced plans to raise $500 million to buy the flagship coin.
However, bankrupt crypto firm Mt Gox transferred large amounts of the same coin, raising concerns as creditor repayment plans have yet to be finalized. It was also critical that the US Government moved $1.9 billion worth of crypto assets to a new address. Meanwhile, Donald Trump has appointed Paul Atkins as the next US SEC Chairman, further strengthening market optimism about the future of the cryptocurrency landscape.
XRP coin gains momentum
Simultaneously, XRP emerged in the middle of the crypto space this week, overtaking Solana and USDT in terms of market capitalization. Interestingly, amid this bullish move, Ripple whales swiped $177 million worth of crypto, creating optimism amid renewed market interest as legal maneuvers helped the American blockchain firm. Trump’s choice for White House AI & Crypto Czar, David Sacks, spawned optimistic sentiments surrounding the XRP case, hinting that an end was near. This is also supported by the appointment of Paul Atkins as the new SEC Chairman. In turn, market participants are eagerly awaiting as the new elections under Trump’s presidency could further spur a pro-cryptocurrency wave.
It is also noteworthy that XRP Ledger (XRPL) validators and developers have made a move to update the mainnet with transaction optimization in mind. Overall, these developments have helped the coin witness significant gains in recent times. Ripple CEO Brad Garlinghouse further fueled market optimism, attributing XRP’s rally to the resignation of SEC Chairman Gary Gensler and a major regulatory win.
Shiba Inu rally continues
Meanwhile, the famous dog-themed meme coin Shiba Inu also resonated in the market this week, witnessing bullish developments. Notably, the SHIB burning mechanism has burned nearly 3 billion coins over the past seven days. Simultaneously, in light of the reduced supply due to the burns, the SHIB price rose 15% on the week, reaching $0.00003. It was also notable that the coin’s lead developer, Shytoshi Kusama, recently called attention to the SHIFU coin launch, adding a layer of intrigue to developments in the ecosystem.
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