Another week ends with phenomenal developments witnessed across the cryptocurrency landscape. Amid this flurry of developments, Bitcoin, Shiba Inu, and Floki appear to have marked a storm of breakthroughs with their cryptographic venture, fueling immense optimism among crypto market enthusiasts across the globe.
Some of the top headlines that curated a sense of bustle this week are:
Bitcoin Sparks Speculations
In what comes as a phenomenal week for Bitcoin, the world’s first-ever digital currency, BTC briefly traded over the $63K mark in the past seven days, fueling bullish sentiments among traders and investors as halving nears. While Bitcoin dropped back to the $61K mark as of writing, the BTC ETFs’ noteworthy jump into the fray continued birthing bullish sentiments for the token across the broader crypto market.
Earlier, as BTC’s price eyed $60K, Bitcoin ETFs recorded a whopping $520 million inflow, per CoinGape Media’s report. Meanwhile, as of March 2, a staggering $1.7 billion net flow recorded garnered additional attention to Bitcoin’s progression, mirroring the token’s recent rally.
Microstrategy’s colossal $155 million worth of BTC accumulation, increasing the firm’s BTC holdings to 193,000, further aided BTC’s upward momentum this week, sparking speculations over further bolstered prices as halving nears.
Shiba Inu Births Bullishness
Apart from the monumental upward momentum showcased by Bitcoin, Shiba Inu, a prominent meme coin functioning atop the Ethereum blockchain, also rallied remarkably, making waves throughout the crypto space. This rally comes as a result of numerous developments witnessed within Shiba Inu’s ecosystem recently.
Aligning with this cascade of advancements, the meme coin’s community recently unveiled a strategic partnership with Zama, a crypto wallet services platform. This partnership further revolutionizes Shiba Inu’s cryptographic venture, enhancing encryption and privacy within the ecosystem.
Meanwhile, the latest edition of The Shib magazine further introduced a plethora of new features for the meme coin’s ecosystem, birthing bullishness on SHIB. The continued destruction of SHIB with the community’s burning mechanism coming into play further supported SHIB’s rally this week.
Moreover, Shiba Inu’s price ditched a zero of its value recently, reaching the $0.00001 mark. However, a tidal wave of bullishness additionally surfaced across the broader crypto market as Shiba Inu’s price also hit the $0.000022 mark.
Also Read: Spot Ethereum ETF: Top Crypto Lawyer Is Pessimistic on 2024 Approval
Floki Soars Remarkably
Another altcoin that rallied this week, Floki, nabbed significant attention among crypto market enthusiasts with a 100% surge in its price. Initially, Floki’s price commenced a pump following DWF Labs’ colossal 10 million FLOKI accumulation. However, the price rocketed notably, soaring as high as 100%, resulting from other numerous factors.
Floki’s TVL (Total Value Locked) recently topped the $366 million mark, emerging as a milestone achievement for the meme coin. This appears to have jacked up FLOKI’s rally, accompanied by the meme coin’s actively pursuing mainstream adoption of its ecosystem products, coming as a measure that stages FLOKI rather than just a meme coin.
This appears to be primarily propelling optimism for FLOKI, as also seen by the meme coin’s price action this week.
Also Read: Bitcoin ETF: Blackrock Stays on Track to Beat Market Estimates Despite Volatility
