5 of the biggest stories of this week – Ripple, Shiba Inu, VeChain, IOTA and Bitcoin

[ad_1]

Core ShimmerNets contributor Dominik Schiener shared some updates noting that the team has been improving, testing, and making sure the ShimmerEVM is ready. Ripple remains convinced that it will beat the SEC with over 3,000 Amicus submissions showing that the use of XRP is limited to payment utility.

Our data shows that investors have taken a step back with the price stagnation of the majority of cryptocurrencies. Bitcoin, which is the pioneer, failed to break the $23,000 resistance level, sparking speculation that it will pull back and test recent supports. Despite price stagnation, network development and technology developments continue and paint a bullish picture for a number of projects.

In this week’s CNF feature, we take a look at some of the more intriguing developments.

Massive Liquidity for Bitcoin Price Uptrends Comes From US Institutions

A report earlier this week revealed that institutional investors are playing a key role in Bitcoin’s upward price trends. Although a majority of traditional institutions are wary of cryptocurrencies, companies like MicroStrategy Incorporated, Block Inc, and Paypal Holdings Inc are particularly heavily invested in cryptocurrencies. Matrixports Head of Research and Strategy, Markus Thielen, has confirmed that much of the buying momentum pushing the price of Bitcoin higher is fueled by the horde of institutional investors pumping in money. money in industry.

As these investors increase, prices are expected to continue to rise. Additionally, regulators will come under massive pressure to introduce clear regulations that could further increase adoption. This is even more intriguing as recent data shows that the Bitcoin network processed more transaction value than Visa and Mastercard last year and is expected to surpass that in 2023…Read More

XRP price in the thousands after Ripple vs. SEC settlement

Speculation continues to grow around the XRP price. Earlier this month, Ripple CEO Brad Garlinghouse revealed that he expects the Ripple vs. SEC case to be settled in the first half of the year. With Ripple pegged to gain, investors and analysts expect prices to rise. This especially after the advancements of the XRPLedger over the past couple of years and the growth of the ecosystem will add to the price growth of XRP. Additionally, some of the major crypto exchanges that previously removed XRP from their platform will be rushing to relist the digital asset.

Source: Travis Wolfe

However, the company led by Brad Garlinghouse is following a very cautious path, as any form of settlement without legally defining the status of the XRP coin may prompt another lawsuit in the future… Read More

At press time, XRP is trading for $0.4109. The digital asset has been trading sideways for 7 days. With a record high of $3.84 as the all-time high reached 5 years ago, the token is still far from its ATH.

Developers confirm billions of SHIBs will be burned with Shibarium

Amid the SHIB tanking burn rate, lead developer Shytoshi Kusama is ensuring a burn rate boost with the Shibarium build. The highly anticipated Layer-2 Scalability Network is expected to launch soon and will provide a major boost to the SHIB token. Shytoshi Kusama recently confirmed on Discord that billions of SHIB coins will be burned with the release of the Shibarium layer 2 platform.

Follow us for the latest crypto news!

According to the MVRV-Z score indicator, SHIB price is grossly undervalued even now and has the potential to rally another 75% in two months…Read More

Samsung taps VeChain for smart ship data app

VeChain continued to gain traction and receive major recognition. In the latest development, Samsung has leveraged the leading blockchain for the deployment of its smart ship data application. With the support of the world’s leading certification authority DNV, Samsung Heavy Industries, the first Korean shipbuilding company to achieve this milestone, has successfully deployed its smart ship network security application on the Vechain network.

In order to reduce the risk of information tampering when data is shared with ships and other offshore tools on the recovery side, VeChain serves as a security solution for shipping companies, shipyards and other organizations involved… Read more

ShimmerEVM finally launches as $MIOTA remains top 10 crypto for most active developer ecosystems

IOTA and its staging network Shimmer also made headlines during the week for various developments. For starters, ShimmerNets senior contributor noted that although close, they are not rushing to launch the ShimmerEVM citing the risk of network failure. Since the launch of the Shimmer network last year, the team has been working on the launch of the ShimmerEVM chain which is compatible with the Ethereum virtual machine (EVM).

The ShimmerEVM team had tested several UX improvements, including the integration of convenience features such as using Shimmer to directly pay gas for L1-L2 transfers. This revelation follows a report which showed that IOTA is among the 10 most active developer ecosystems. With Shimmer, IOTA could climb even higher as more developers join the ecosystem…Read More

No spam, no lies, only ideas. You can unsubscribe anytime.

Crypto News Flash does not endorse and is not responsible for the content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any action related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned.

[ad_2]