Another week ends with substantial advancements being made within the crypto realm as Bitcoin, Shiba Inu, Terra, and Bonk propel optimism within the broader market. Some of the top headlines of the week that garnered noteworthy attention among crypto market enthusiasts globally encompassed updates on Bitcoin, Shiba Inu, Terra, and Bonk. These updates are:
Bitcoin Sparks Interests
Bitcoin, the world’s first-ever digital currency, piqued quite the interest among crypto market enthusiasts as it noted significant whale activity, particularly sell-offs to CEXs Binance and Coinbase this week. Moreover, market sentiments seem to have taken an exciting turn, with the increasing odds of a Bitcoin spot approval weighing in.
Meanwhile, Bitcoin also recorded a noteworthy market event, wherein the token registered a weekly outflow of 33 million amid a crypto market sell-off. Intriguingly, according to reports, this move indicated more of a profit-taking initiative rather than a change in investors’ sentiments orbiting the crypto market.
Shiba Inu Propels Optimism
The self-proclaimed Dogecoin killer also marked significant advancements this week, with its colossal surge in burn rate, among many others. The SHIB token recorded noteworthy whale activity this week, accompanied by a weekly price jump. Moreover, Shytoshi Kusama, Shiba Inu’s lead developer, spotlighted numerous other critical developments made by the Shiba crypto community.
According to reports, Kusama spotlighted a massive burning chronicle in process, further accompanied by announcements encircling SHIB listing.
Also Read: Here’s Why Bitcoin Jumps 160% YTD Despite Multiple Setbacks
Terra Community Evokes Optimism
This week, Terraform Lab’s ex-CEO and founder, Do Kwon, faced a legal decision in his favor, with a judge ruling against his extradition to South Korea and the U.S. This decision seems to have influenced market sentiments revolving around the Terra-backed tokens, LUNA, LUNC, and USTC.
Moreover, after rejecting a key USTC burning proposal, the Terra community eventually forged ahead with burning all USTC in the community pool. In addition, the community also predominantly voted in favor of a controversial community commonwealth platform to revive the Terra Luna Classic tokens, as per reports.
Also Read: Cosmos Stacks Developers Lend Helping Hand For Terra Luna Classic (LUNC) Revival
Bonk’s Listing Chronicle
Bonk, a Solana-backed meme coin, witnessed a colossal monthly upswing as per market charts, emerging as some of the top trending meme coins this week. With the token witnessing significant listing chronicles, traders and investors seem to be eyeing the token extensively.
According to reports, Kraken, one of the most significant exchanges, announced BONK listing on its platform. Furthermore, WazirX, another eminent exchange, announced building support for BONK trading on its platform. This listing chronicle was further escorted by Binance, another leading exchange.
Although the weekly price showcased a dropping trajectory for BONK, the monthly upswing portrayed a superior picture, gaining significant traction among crypto fanatics.
Also Read: Here’s What Happened To Bitcoin & Crypto Market In 2023
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