Bitcoin Surges Past $47K
The price of Bitcoin surpassed $47,000 this week, attracting significant interest from crypto enthusiasts. It traded at $47,336.68, and both retail and institutional investors accumulated spot Bitcoin ETFs as its price rallied. However, inflows into BlackRock decreased, and the Grayscale Bitcoin ETF reached a record low.
Furthermore, Ark 21 shares and Microstrategy’s BTC holdings exceeded $10 billion, indicating growing investor confidence.
Solana’s Outage
The Solana network experienced an outage for approximately 5 hours due to performance issues with the BPF loader and TPS. This caused panic in the crypto market, leading Upbit to suspend trading for SOL, GMT, RAY, and ACE tokens. The price of SOL also suffered a significant impact as a result.
Shiba Inu Sparks Optimism
Shiba Inu made significant progress this week as an Ethereum-based meme coin. Its partnership with K9 Finance for seamless BONE staking gained traction, and Marswap expanded its services on Shibarium to enhance SHIB tokenomics. WoofSwap also announced plans to bridge Shibmap to ERC404, bringing further innovation to Shiba Inu’s cryptographic venture. Additionally, the burn rate of SHIB increased multiple times throughout the week, generating optimism in the market.
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