Another week concludes with incredible advancements in the crypto space. With their cryptographic endeavor, Bitcoin, Shiba Inu, and Floki among others seem to have recorded a storm of breakthroughs amid this swarm of advances, igniting a great deal of excitement among fans for the cryptocurrency industry worldwide.
Bitcoin Price Review
The world’s first digital currency, *BTC*, has had an incredible week. Over the last seven days, BTC has temporarily crossed over the $63K barrier, encouraging traders and investors as the halving draws closer. Even if as of this writing, the Bitcoin price had fallen back around $61.7K, representing a 19% pump in the last 7 days as of press time.
Bitcoin ETFs had an incredible $520 million influx earlier as the price of BTC approached $60,000. Coinciding with the token’s recent surge, as of March 2, an astounding $1.7 billion net flow was recorded, drawing further attention to Bitcoin’s growth.
This week’s surge in the Bitcoin price of Bitcoin was further supported by Microstrategy’s massive $155 million acquisition of Bitcoin, which brought the company’s total holdings to 193,000. This development sparked speculation about further price increases as the halving approached.
MicroStrategy has bought another 3,000 #bitcoin for $155 million! They now own 193,000 bitcoin. And you’re still afraid to get in?
— Layah Heilpern (@LayahHeilpern) February 26, 2024
Ethereum Price Review
*ETH* has also had quite a pleasant week as the altcoin king now takes center stage. Trading at $3410 as of press time, the Ethereum price is currently at an impressive 12% above its previous 7-day price. Ethereum currently holds a market cap of 408 billion.
With Bitcoin breaking above its 27-month high of $57,000, rising financing rates, rising purchasing in the US, and the impending Dencun upgrade, the Ethereum price saw this massive rally over the seven days.
Ethereum's Dencun Upgrade on March 13 promises:Enhanced scalability & reduced L2 costs with EIP-4844 Lower on-chain storage costs & improved security EVM & network enhancements for better performance The "Surge" era begins, paving the way for massive scalability and… pic.twitter.com/HR5UYVMt6P
— SuperEx (@SuperExet) March 2, 2024
Shiba Inu Price Review
In addition to the enormous upward momentum that Bitcoin demonstrated, *SHIB*, a well-known meme coin that runs on the Ethereum blockchain, also had a remarkable rally that created ripples in the cryptocurrency world. This rally is the outcome of many recent changes that have been seen in the environment of Shiba Inus.
The community of the meme coin recently announced a strategic alliance with Zama, a company that provides services for cryptocurrency wallets, in line with this wave of improvements. SHIB’s protest this week was further bolstered by the community’s ongoing destruction of the organization and the activation of its burning mechanism. The Shiba Inu price jumped by 129% over the 7 days to $0.00002204 as of press time.
We're happy to partner with @Shibtoken to bring FHE to millions of people in their community. It is incredibly exciting for us at Zama to see FHE going to production, and setting a new benchmark for blockchain privacy and security.Read more on @CoinDeskhttps://t.co/Yr4sdLpegM pic.twitter.com/SXEFLfICb6
— Zama (@zama_fhe) February 29, 2024
Floki Price Review
With a 100% increase in price, Floki, another altcoin that had a jump this week, attracted a lot of interest from those interested in the cryptocurrency market. First, the price of Floki began to rise as DWF Labs amassed an enormous 10 million FLOKI. Still, the price increased significantly—it reached as much as 100%—due to a host of other circumstances. Recently, Floki’s TVL (Total Value Locked) surpassed $400 million, which is a significant accomplishment for the meme currency.
FLOKI CROSSES RECORD $400M IN TVL#Floki has just crossed $400M in TVL across two of its key ecosystem products, hours after it hit an ATH of $366 million:– Floki Staking: $297M+– FlokiFi Locker: $111M+$FLOKI now has more TVL than that of other top memecoins like $PEPE,… pic.twitter.com/rjCXPF7y6H
— FLOKI (@RealFlokiInu) March 2, 2024
Along with the meme coin’s aggressive pursuit of mainstream acceptance of its ecosystem goods, this seems to have accelerated FLOKI’s surge, positioning FLOKI as more than simply a meme currency. The Floki price jumped by 279% over the 7 days to $0.0001348 as of press time.
Pepe Price Review
Pepe has also emerged among the top gainers this wek as meme coins now take center stage. Trading at $0.000005138 as of press time, the Pepe price is currently 295% above its previous 7-day price.
Pepe’s recent pump can be attributed to recent market activity that has seen meme coins dominate this week’s session. Shiba Inu, Floki, Bonk and Dogwifhat all posted massive gains over the week following the meme season.
Top 5 gainers for the week on CMC … all meme coins pic.twitter.com/raK3uJM18N
— MineSum10 (@MineSum10) March 2, 2024
