Shiba Inu (SHIB) Bull Run, important of Ripple v. SEC Update, and more: Bits Recap February 29

TL; DR

The price of Bitcoin increased from $51,000 to almost $64,000 in two days. Ripple is dealing with an SEC legal battle and has partnered with the Excel Foundation to improve the interoperability of the XRP Ledger and facilitate asset tokens. Shiba Inu has made significant progress on Shibarium, a layer-2 solution aimed at improving transaction efficiency, resulting in a significant increase in transaction volume and burn rate.

BTC Amazing Rally

The price of Bitcoin (BTC) has been going through the roof for the past several days, some industry participants are wondering if a new all-time high is around the corner. The property began its upward trend on February 26, when the price was approximately $51,000. Two days later, however, the valuation increased by 25% to $64,000 (per CoinGecko data).

In the hours that followed, BTC bounced back to $60,000 and was taken back to its current level of around $63,000. The massive volatility affected thousands of traders. as a Cryptopotato reportedTotal liquidity in the last 24 hours has risen to $640 million.

According to some experts, the recent price increase could be the beginning of a BTC bull run that could last in the coming months. The upcoming half (set for April 2024) supports that thesis. The event that slows down the speed of new BTC mining, was the precursor to a major rally for the first cryptocurrency in history.

American hedge fund manager – Mark Yusko – and famous American filmmaker – Max Kaiser – are among the recent attendees. Listed. Bullish predictions. The former set a price of $150,000, which could arrive two months after the halving. Keizer was more optimistic, envisioning an explosion to $21 million per coin (BTC should mimic the performance of Berkshire Hathaway's Class A shares).

Ripple v. SEC Developments

The latest update surrounding Ripple is related to its long legal battle with the United States Securities and Exchange Commission (SEC). Earlier this week, the agency he asked Extending the deadline for submission of the brief on proposed solutions to March 22. Initially, he had to comply with the court order until March 13.

According to the letter, the regulator asked if Ripple's opposition brief could be filed by April 22 (instead of April 12). The latter is deemed to have agreed to the proposed terms.

In addition to the developments on the legal front, Ripple He cooperated With the Acceler Foundation to enhance interoperability in the XRP Ledger (XRPL). The Web3 platform leverages the partnership to expand the adoption of blockchain technology by facilitating the tokenization of real-world assets (RWAs).

Shiba Inu (SHIB) parameters go wild

The popular meme coin yesterday (February 28, 2007) showed a significant increase in several important indicators related to the ecosystem. It has passed They are leading altcoins such as Cardano (ADA), Polkadot (DOT), Polygon (MATIC) and others.

The property's burning rate The sky is broken By almost 2,000%, but the total blocks on the Layer-2 blockchain solution Shibarium have reached the 1.4 million mark.

SHIB's price has also increased in the last 24 hours, exploding at a high rate of 25%, due to general market sentiment and the recent announcement. CryptoPotato reported yesterday that the group has announced the implementation of a new tool that enhances user privacy called Full Homomorphic Encryption (FHE).

The latter went live last summer and aims to elevate SHIB above its rivals by improving speeds and reducing transaction fees. Those willing to learn more about the feature can watch our exclusive video below.