The next week concludes with incredible developments witnessed across the cryptocurrency industry. Amidst such hectic developments, Bitcoin, Shiba Inu, and Floki seem to have brought about a flurry of breakthroughs in crypto ventures, fueling great optimism among crypto market enthusiasts around the world. ing.
Here are the top headlines that will give you a sense of the buzz this week.
Bitcoin causes speculation
It's been a phenomenal week for Bitcoin, the world's first digital currency, with BTC trading above $63,000 at one point in the past seven days, with traders and investors bullish as the halving approaches. feelings were heightened. Although Bitcoin has fallen to the $61,000 level at the time of writing, the notable market entry of the BTC ETF continued to generate bullish sentiment towards Bitcoin across the broader crypto market.
According to a report by CoinGape Media, the Bitcoin ETF recorded a whopping $520 million in inflows, while the price of BTC was previously expected to reach $60,000. Meanwhile, as of March 2nd, an impressive net flow of $1.7 billion was recorded, drawing further attention to Bitcoin's progress reflecting Bitcoin's recent rally.
MicroStrategy's massive Bitcoin accumulation worth $155 million increases the company's Bitcoin holdings to 193,000 bits, further boosting Bitcoin's upward momentum this week and pushing the price higher as the halving approaches. This led to speculation that the price would rise further.
Shiba Inu gives birth with strength
Apart from the incredible upward momentum exhibited by Bitcoin, Shiba Inu, a prominent meme coin that operates on the Ethereum blockchain, has also seen an impressive rise, causing ripples throughout the crypto space. This gathering came as a result of a number of developments recently witnessed within the Shiba Inu ecosystem.
In line with this series of advances, the Memecoin community recently announced a strategic partnership with Zama, a cryptocurrency wallet service platform. This partnership further revolutionizes Shiba Inu's crypto business and strengthens encryption and privacy within the ecosystem.
Meanwhile, the latest edition of The Shib magazine further introduced a number of new features to the meme coin ecosystem, creating a bullish stance on SHIB. The functioning of the community burning mechanism and the continued destruction of SHIB further supported this week's SHIB rally.
Moreover, recently, the price of the Shiba Inu broke from zero and reached the level of $ 0.00001. However, more bullish waves surfaced across the broader cryptocurrency market as Shiba Inu price also reached the $0.000022 mark.
Also read: Spot Ethereum ETF: Top crypto lawyer pessimistic about approval in 2024
Flowki's rapid rise
Another altcoin that rose this week, Floki, gained a lot of attention among crypto market enthusiasts with a 100% increase in price. Initially, Floki's price started to soar following his huge accumulation of 10 million FLOKI from DWF Labs. However, due to a variety of other factors, prices have skyrocketed, soaring as much as 100%.
Floki’s TVL (Total Value Locked) recently crossed $366 million, emerging as a milestone achievement for the meme coin. This appears to have accelerated FLOKI's rise, with the meme coin actively pursuing mainstream adoption of its ecosystem products, and as a measure to stage FLOKI as more than just a meme coin.
This seems to be primarily driving optimism for FLOKI, as evidenced by the memecoin price movement this week.
Also read: Bitcoin ETF: BlackRock maintains trajectory to beat market expectations despite volatility
