cryptocurrency marketBitcoin (BTC) $99,040.9is preparing to leave behind an eventful week with XRP and Shiba Inu (ŞHIB) in focus. While the largest cryptocurrency gave positive signals about future price movements, XRP and Shiba Inu came to the fore with developments supported by community forces. While Shiba Inu attracts attention especially with its token burns, Donald TrumpRipple’s re-election as president 
$2.5 It created a hopeful atmosphere for its supporters.
Buying Pressure Increases in Bitcoin
BitcoinThis week witnessed various positive developments. Leading Bitcoin miner MARAannounced its plan to raise $700 million to increase BTC purchases. Similarly Semler ScientificBy purchasing $29 million worth of Bitcoin, it created additional buying pressure in the market.
Moreover MicroStrategyannounced that it purchased 15 thousand 400 BTC for 1.5 billion dollars. This move supported investor optimism. Hut 8 announced its plan to raise $500 million to make the acquisition. While these developments revealed the intense interest in Bitcoin, they created a market environment that guided price movements.
However Mt. gox‘s large amount of BTC transfer caused concern because the repayment plans are still not completed. In addition US Governmentattracted attention by moving BTC worth $1.9 billion to a new address. In addition to all this, Trump Paul AtkinsHis appointment as SEC Chairman was seen as a promising step for the future of cryptocurrencies.
Stunning Market Activity in XRP and Ripple
Ripple’s native cryptocurrency XRPbecame one of the most remarkable assets of the week, surpassing Solana (SOL) and Tether (USDT) in terms of market value. In this process Ripple whales transferred $177 million worth of XRP. These movements contributed to the renewed interest in the market and the price increase.
Trump’s various cryptocurrency-friendly appointments have created optimism that the XRP case will end soon. David Sacks‘s appointment as the person in charge of artificial intelligence and crypto issues pointed to a positive direction in XRP’s legal matters. Ripple CEO Brad GarlinghouseSEC Chairman explains XRP’s rally Gary GenslerHe attributed it to ‘s resignation and Ripple’s legal victory.
On the other hand XRP Ledger Its developers have taken steps to update the mainnet for transaction optimization. All these developments attracted attention by contributing to the upward momentum of the altcoin.
Token Burn Volume Increased in Shiba Inu
Shiba Inu was on the agenda this week with a high amount of token burning. While approximately 3 billion tokens were burned, 250 million of this amount was provided by the ‘1 CENT DREAM’ project. This development reduced the supply in circulation and caused a 15 percent increase in the price.
Leading developer of Shiba Inu Shytoshi Kusamaincreased interest by introducing SHIFU coin, a new project that will support the ecosystem. This development contributed to the mobilization of the Shiba Inu community and strengthening its position in the market. Shiba Inu’s token burning mechanism and innovations in its ecosystem managed to attract the attention of the market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
