The crypto market concludes another week with remarkable developments unfolding across the broader sector. Against the backdrop of an ‘uptober’ rally sentiment, Bitcoin (BTC) closed the week at the $68K level, whereas the meme coins sector stole the spotlight with attention-nabbing gains. Simultaneously, the XRP lawsuit saw new developments, sparking investor speculations over Ripple’s coin’s price.
Here’s a brief report on some of the top crypto market headlines reported by CoinGape Media over the past week, which have echoed a frenzy across the broader market.
Bitcoin Holds $68K Sparking Optimism
BTC price held the $68K level as this week ended, primarily due to bullish market dynamics. Spot Bitcoin ETFs recorded $2.13 billion in inflows over the past seven days, underscoring increased institutional interest in the asset. Simultaneously, Robinhood rolled out plans for Bitcoin and Ethereum futures trading this week, adding to optimism surrounding the assets.
Japan revealed plans to unveil a massive stimulus package, exceeding last year’s $87 billion injection, this week. This development has added to optimism surrounding BTC price movements.
Further, American entrepreneur Elon Musk’s Tesla moved a $760 million BTC stash this week, adding to investor speculations. Also, the leading publicly listed German firm Samara AG revealed plans to add more BTC to its holdings. In addition, Mike Novogratz’s Galaxy Digital also bagged nearly 500 BTC this week, sparking market discussions. Altogether, the flagship crypto leverages significant buying pressure this week amid recent market events.
XRP Lawsuit Sees New Developments
Simultaneously, the XRP lawsuit saw a riveting turn of events this week. The U.S. SEC filed Form C as a part of its appeals against Ripple recently. However, the XRP community rejuvenated as the XRP status as a non-security was not appealed.
Subsequently, attorney Fred Rispoli criticized Ripple execs Brad Garlinghouse and Chris Larsen for questioning some SEC charges rather than missing a chance for a full trial defense. On the other hand, Ripple announced Uphold and Bitstamp as exchange partners for the RLUSD stablecoin launch. Further, XRP whales continued dumping to exchanges, raising market speculations. Overall, the abovementioned developments brought significant attention towards Ripple’s native crypto, XRP, which closes the week at the $0.54 level.
Meme-themed Crypto Echo Frenzy
Simultaneously, the meme coins sector saw attention-nabbing developments this week. Dogecoin price kicked the week off optimistically, gaining amid Elon Musk’s donation worth $75 million to elect Donald Trump. Meanwhile, DOGE whales took action to accumulate heavily, adding to optimism over the asset’s price movements. DOGE price closed the week at the $0.14 level. Further, Grayscale hinted at a potential listing looming for the meme token.
In the interim, Goatseus Maximus (GOAT) price soared heavily amid a major listing this week, emerging as the talk of the crypto town.
On the other hand, Shiba Inu reverberated optimism in light of remarkable ecosystem developments. The SHIB burn soared remarkably in the past seven days. Whilst Shytoshi Kusama revealed a game-changing partnership for the SHIB financial layer.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Leave a Reply