Bitcoin to $17.7 Trillion Market Cap? Top Expert Does Not Deny This Possibility.

Bitcoin analyst Willy Woo recently initiated a discourse within the cryptocurrency community concerning the feasibility of Bitcoin surpassing gold's market capitalization of $17.7 trillion. In a series of insightful remarks, the expert delved into the nuanced dynamics of stock-to-flow (S2F) ratio, inflationary trajectory of BTC and the evolving landscape of institutional adoption.

Central to Woo's thesis is the S2F model, a
metric that gauges an asset's scarcity by
comparing its existing supply to its annual
production. With Bitcoin's inflation rate
now lower than that of gold, the expert
posits that the cryptocurrency stands
poised to challenge the dominance of the
precious metal in the realm of store-of-
value assets.

However, Woo tempered expectations by suggesting a potential lag of 5 to 10 years before Bitcoin's market capitalization aligns with its S2F valuation. He attributed this delay to various factors, including the gradual integration of Bitcoin into institutional portfolios, the development of regulatory frameworks and the establishment of custody solutions.

People's money.

Despite this cautious prognosis, Woo underscored the potential for retail investors capable of self-custodying their Bitcoin holdings to experience the benefits of the S2F model sooner. He hinted at a divergence between institutional and retail adoption timelines, suggesting that the latter may embrace Bitcoin's value proposition more rapidly.

As there is a possibility for Bitcoin's market cap to reach $17 trillion, questions linger about the potential implications for cryptocurrency's price dynamics in the interim.

Could the perceived lag between Bitcoin's intrinsic value and its market capitalization lead to increased volatility or speculative trading patterns? And how might external factors such as regulatory developments and macroeconomic trends influence its trajectory relative to gold?

Solana Beats Tron and BSC in This Crucial Metric: Details.

Tron and Binance Smart Chain (BSC) are active, with a high number of active addresses transferring stablecoins. However, a closer look at the dollar volumes transferred tells a different story, where Solana and Ethereum emerge as leaders.

It suggests that while there might be fewer individual transactions on Solana compared to Tron or BSC, the transactions that are occurring are of much higher value. This can be interpreted as an indication that Solana's network is currently favored by larger investors, or "whales," who are moving substantial amounts of stablecoins.

The contrast becomes starker when considering the nature of the transactions on Tron and BSC. These networks appear to cater more to retail traders and investors. The lower transaction fees make these networks attractive for those looking to perform smaller, day-to-day transfers. Tron, for instance, has an average token transaction fee of around $2, making it an economical choice for regular use.

Solana's attraction for whales gives it a unique position in the market, especially in terms of liquidity and the potential it has compared to other networks. Meanwhile, the popularity of Tron and BSC among retail participants could influence the development of user-centric applications and services that benefit from high transaction throughput.

Ultimately, the choice of network may come down to the specific needs and strategies of stablecoin users. Solana's edge in dollar volume points to strong, albeit more concentrated, economic activity, while Tron and BSC's active addresses reflect an ecosystem with a higher number of retail investors and traders.

Bitcoin's Average Dormancy Reaches 13-Year High: Details.

The average Bitcoin (BTC) dormancy has
surged to a 13-year high, according to
recent data shared by Ki Young Ju, the
CEO of CryptoQuant. This uptick in
dormancy suggests a significant transfer
of older Bitcoins to new holders, potentially
reshaping the cryptocurrency's ownership
landscape.

On March 23, Bitcoin's Average Dormancy reached a level of 227.684, as indicated by a chart shared by Ki Young Ju on X. Average Dormancy is a metric that represents the average number of "destroyed days" of moved coins. This figure is calculated by dividing Coin Days Destroyed (CDD) by the total movement of coins.

What's happening?

A higher Average Dormancy value typically indicates that long-term holders are moving or potentially selling their coins, which could signal an impending price drop. The Average Dormancy of Bitcoin hitting a 13-year peak is noteworthy for several reasons. First, the increase suggests that older, long-term holders of Bitcoin are either transferring their holdings or selling them to new investors.

This shift could potentially alter the ownership distribution of Bitcoin, with new participants gaining a larger share of the market. Second, historically, spikes in Average Dormancy have often been followed by increased price volatility. If long-term holders are indeed selling or transferring their coins, it may lead to a greater supply of Bitcoin on the market, potentially putting downward pressure on prices.

Lastly, the rising Average Dormancy could also reflect changing market sentiment among Bitcoin holders. Long-term investors may be responding to macroeconomic factors, regulatory changes or other market dynamics that influence their decision to hold or sell their assets.

Overall, Ki Young Ju's observation about the shifting cap table for Bitcoin underscores the evolving nature of the market. As older Bitcoins are transferred or sold to new holders, the ownership dynamics of Bitcoin are undergoing a significant transformation.

25 Billion Cardano (ADA) in 24 Hours: What's Happening?

ADA has witnessed a surge in activity, with the number of large transactions skyrocketing. A staggering 25 billion ADA were transferred within a 24-hour period. The activity spotted on-chain aligns with ADA's price action and demands a deeper look into the on-chain metrics and their implications for the asset's future.

Delving into the on-chain data, we see a notable spike in the number of large transactions, which often signify substantial wallet movements by whales or institutional players. Such movements can suggest preparation for market developments, bullish or bearish.
Furthermore, the large transaction volume, peaking at 27.67 billion ADA recently, reinforces the intensity of this activity.

Simultaneously, ADA's price chart displays a tension-filled narrative. After a period of decline, ADA shows attempts at recovery, flirting with the 50-day EMA, currently at around $0.5, yet unable to achieve a clear breakthrough.

With ADA currently trading just below this critical EMA level, the focus is on whether it can gain the necessary momentum to surpass it. If ADA succeeds, it could encounter the next resistance at approximately $0.55, an ascent that would align with the increased on-chain activity. Conversely, failure to move past the 50 EMA may see ADA retest the support near $0.49, a recent low that might serve as a staging ground for another upward attempt.

Given the current dynamics, the future for ADA depends on the on-chain activity and the surge of buying activity on the market. Unfortunately, the market is currently taking a break before moving upwards again. Hopefully, the drop of liquidity and volatility on the market closer to the weekend will not lead to a substantial price drop.

Floki Coin's Price Surge Signals Strong Market Optimism.

Floki, a meme-inspired cryptocurrency, recently experienced a significant price increase, capturing the attention of investors and traders worldwide. The price of Floki soared nearly 15% in a single day, instigating a wave of optimism across the cryptocurrency market. This uptick is supported by a blend of positive market metrics and investor enthusiasm, contributing to a robust bullish sentiment for the meme coin.

Analyst Forecasts Significant Upswing for Floki.

Cryptocurrency expert, Captain Faibik, shared insights into Floki's market dynamics on social media platform X, predicting a potential two to threefold increase in its value. He pointed out a bullish flag formation in Floki's daily price chart, suggesting a strong continuation of the upward trend. This forecast has further fueled the positive outlook on Floki, aligning with the recent price actions observed in the market.

Following this prediction, Floki's price surged to $0.000196, marking a 15.74% increase over the last 24 hours. The coin also registered a daily low and high of $0.000168 and $0.0002052 respectively, indicating significant market activity and trader interest.

Derivatives Market Shows Increased Investor Interest.

The derivatives market for Floki also shows promising activity, with a notable rise in open interest, which signifies growing investor engagement and confidence in the coin's future prospects. This increase in derivative volumes aligns with the heightened buying pressures and reduced selling, potentially setting the stage for the realization of Captain Faibik's bullish predictions.

Points to Consider.

• Floki's price could potentially multiply, backed by strong chart formations and expert predictions.

• The increase in open interest in derivatives suggests a robust investor confidence and market participation.

• Continued buying pressure might lead to sustained price increases, aligning with positive market sentiments.

Ripple CTO Shares Story About Ripple Shares as IPO Nears.

Amid discussions within the XRP community, Ripple's Chief Technology Officer David Schwartz recently shed light on the dynamics between Ripple shares and XRP, sparking curiosity as the crypto company explores plans for an initial public offering (IPO).

Schwartz's remarks surfaced during a lively exchange in the community, where enthusiasts sought clarity on his stance regarding Ripple shares versus XRP. Addressing queries about his preference, Schwartz highlighted the liquidity disparity between XRP and privately-held company stocks, emphasizing the former's superior liquidity.

The conversation delved into the complexities of stock ownership, with enthusiasts speculating on Schwartz's potential motives and considerations. Some speculated about the nature of the CTO's holdings and the implications of a potential IPO, while others shared their personal experiences with stock vesting periods and tax implications.

Schwartz himself chimed in, revealing his discomfort with the level of risk associated with his current stock holdings and hinting at potential future actions to manage this risk. He disclosed the possibility of selling Ripple stock to buy more, citing expiring options and significant tax considerations.

Ripple aims for IPO.

Meanwhile, Ripple CEO Brad Garlinghouse's earlier statements about exploring IPO options outside the U.S. remain pertinent. Plans for an IPO are temporarily halted pending resolution of the ongoing legal battle with the SEC. Garlinghouse expressed optimism about the appointment of a new regulator's chief and the potential for improved regulatory clarity, signaling hopes for a future IPO in the U.S.

With Ripple's valuation at a staggering $11 billion and ongoing discussions with investors, anticipation mounts regarding the company's future trajectory.

BONK Meme Coin Skyrockets in Solana
Ecosystem.

Recently, the BONK meme coin within the
Solana ecosystem has seen a significant
price increase, reaching a peak of
$0.00002753 on April 24, the highest since
early April. This surge reflects a broader
upward movement in the cryptocurrency
market and underscores the growing
enthusiasm for meme coins among investors. The swift rebound in BONK's
value follows a period of lower prices,
which many market participants took
advantage of to increase their holdings, leading to a rapid recovery.

Market Dynamics and Trading Volume.

The value of BONK more than doubled in
April, marking a 118% increase from its
lowest point in the month, an achievement
that set it apart as the top performer
among meme coins. This rise coincides
with a recovery phase in the broader
crypto sector. On April 24, the trading
volume for BONK surged to over $531
million, a substantial rise from the $177
million recorded the previous day, indicating heightened trading activity and
investor interest.

Comparative Analysis with Other Meme Coins.

BONK's resurgence is part of a wider trend that includes other meme-based cryptocurrencies like PEPE, dogwifhat (WIF), and MAGA (TRUMP), all of which have also posted notable gains. This trend suggests a revival of interest in the meme coin category, potentially ushering in a new era of trading dominated by these viral tokens.

Points to Take into Account.

• BONK's recent price surge is not an isolated event but part of a broader meme coin revival.

• The significant increase in trading volume suggests robust market participation and interest.

• Continued monitoring of BONK's market performance could provide insights into broader market trends.

BONK's performance on the charts shows a strong bullish trend as it broke past significant Fibonacci resistance levels. With its price trajectory and investor enthusiasm, BONK is poised to possibly continue this upward momentum.

Major Update Scheduled for Solana's Mainnet Beta.

Solana is gearing up for a significant update to its mainnet beta version on May 27. The upcoming version 1.18 could play a vital role in resolving the ongoing congestion issues within the network. This update aims to substantially strengthen Solana's infrastructure, marking a notable development in the Solana ecosystem.

A New Update is on the Horizon for Solana.

Solana's ecosystem has recently worsened
due to an increase in bot-based transactions involving memecoin projects,
leading to more frequent transaction
failures. In response to these challenges,
Solana's development team is actively
implementing a series of upgrades
designed to enhance
network
performance. In collaboration with a major infrastructure developer, Anza, version 1.18.11 was introduced in the devnet on April 13, and validators are currently
testing the v1.18 update.

Validators play a crucial role in the blockchain ecosystem by approving transactions, aiding in securing the network, and thus becoming essential for the success of the new update. Feedback from this testing phase could be instrumental in ensuring the success of the upcoming mainnet beta launch.

What's Happening in the Solana Ecosystem?

In addition to proactive measures, developers released version 1.17.31 on April 15, aimed at alleviating the ecosystem's congestion. This version was recommended by MainnetBeta validators for urgent use, possibly as part of a broader effort to stabilize transaction volumes in the ecosystem.

Despite these technical advancements, Solana has faced significant market volatility, with its value dropping over 22% since the beginning of the month. Solana's price reached a low of $116 in early April but has since recovered, currently trading at around $158.

The congestion in the Solana ecosystem
has increased selling pressure on
memecoin projects and led to the
postponement of planned airdrop events.
Many Solana-based tokens launched
during this period are trading below their
launch prices, prompting many users to exit the Solana ecosystem.

DOGE Army Issued Crucial Warning by Top Dogecoin Contributor.

A Dogecoin contributor known on social media as @Mishaboar has published an X/Twitter post to warn those users who are trading DOGE and smaller-market-cap meme coins.

In particular, this warning is about trading meme cryptocurrencies that get suspiciously quick listings on crypto exchanges.

Warning about meme coins surging in market caps quickly.

In particular, Mishaboar warned his followers about "tokens that go up to crazy market caps.” He elaborated that now there is "an explosion" in them as they are instantly getting listed on large exchanges (literally within days). He stressed that sometimes these exchanges list them despite obvious red flags.

What this means, according to Mishaboar,
is that these meme coins are backed by
these exchanges themselves and by
venture capitalists as well. As a rule, the
expert continues, they own a large amount
of these tokens' supplies and may enter into deals with exchanges before these coins are even launched on the market.

This approach helps these VC investors to generate easy profits, Mishaboar continues. They collaborate with key cryptocurrency influencers on X/Twitter and other social media platforms. This is also beneficial for exchanges since they see liquidity inflows from traders, which hardly costs anything for these trading platforms.

These crypto influencers get paid for shilling these coins to their followers, claiming these coins are run by their crypto communities. Mishaboar warns the Dogecoin army to be watchful when trading these coins. "Be very careful, and be aware of the risks of trading with these assets," he says.

300 million DOGE shoveled to Robinhood.

Earlier today, prominent Whale Alert cryptocurrency tracker spotted an astounding 300,000,000 Dogecoin lump shoveled to the Robinhood investment platform. This transaction may have two goals - either to be sold now or a little later or merely to be stored on Robinhood on behalf of the investor. This amount of meme coins is the equivalent of $47,921,394.

Peter Brandt Says Bitcoin Has Not Hit ATH in 3 Years on This Condition.

Legendary trader Peter Brandt has shocked the community on his latest take regarding Bitcoin's all-time high (ATH) price record. Taking to his official X account, the
legendary trader revealed that the Bitcoin price has not achieved any ATH over the past three years.

Peter Brandt yardstick.

The statement is at first counterintuitive to a layman because Bitcoin achieved its highest price level worth $73,750.07 on March 14. According to Peter Brandt, the Bitcoin price, adjusted for inflation, has not reached a new high in three years.

Per this metric, Peter Brandt posited that despite the approved spot Bitcoin ETF and the recently recorded BTC halving event, the coin's price remains low considering U.S. consumer purchasing power. Per the chart he shared to demonstrate the BTC adjusted price in relation to consumers' buying power, the coin last hit a high price in the second half of 2021.

Riding on this, the legendary trader said he and the best traders he has met in over 50 years of trading would like to know what Bitcoin bears think about the enormous potential that the cryptocurrency wields.

Bitcoin price forecasts.

As one of the most vocal traders on the market, Peter Brandt has always been forthright about his confidence in Bitcoin as an asset class. This stance, however, notably contrasts with his take on Ethereum (ETH).

Besides Brandt, many other market investors and analysts have issued a very high price target for Bitcoin. This is in hopes that spot Bitcoin ETF will trigger more demand in the future, a trend that the reduced supply from the halving will complement.

One such massive forecast came from "Rich Dad Poor Dad" author Robert Kiyosaki. The financial expert predicted that the price of Bitcoin would soar well past $100,000 by the end of this year.

Ethereum's $3,650 Target Might Be Stalled by 4.45 Million ETH Wall.

As Ethereum (ETH) continues its journey past the $3,000 price point, it faces a formidable challenge: a strong resistance zone lies between $3,170 and $3,270.

This barrier is not just a simple price point; it represents a significant concentration of ETH held by 1.63 million addresses, totaling 4.45 million ETH.

This accumulation of holdings could be pivotal in determining whether Ethereum can break through and reach the much- anticipated $3,650 level.

In a tweet, crypto analyst Ali highlighted a formidable resistance zone for ETH between $3,170 and $3,270, characterized by a concentration of Ethereum holdings among a large number of addresses. According to on-chain data, approximately 1.63 million addresses collectively hold a significant 4.45 million ETH at these price levels.

The enormous addresses holding onto their ETH within this range indicate a potential sell-off point, where many investors may decide to take profits, thereby increasing the selling pressure and making it harder for the price to push through.

If a significant portion of these holders were to sell, it could lead to a price drop. Conversely, if these holders remain confident and continue to hold, or if new buyers step in with enough volume, the price could break past the resistance and head toward the next target of $3,650. Ali indicated in his tweet that breaking past the barrier between $3,170 and $3,270 could propel ETH toward $3,650.

At the time of writing, ETH was up 1.51% in the last 24 hours to $3,243. if the current bullish momentum sustains, Ethereum might aim for $3,302 ahead of the 50-day SMA at $3,488. This would aim for $3,650 and further the $3,729 barrier.

On the other hand, if the ETH price turns down from current levels, it could slip toward the $3,000 price point. This remains critical support for the bulls to maintain because, if it fails, the next stop could be $2,850.

Binance Coin (BNB) Price Prediction for April 23.

BNB/USD.

The rate of Binance Coin (BNB) has increased by 2% over the last 24 hours.

The price of BNB is in the middle of a wide
channel, between the support of $599.6
and the resistance of $618.3. From the
technical point of view, there are low
chances to expect any sharp moves until
the end of the day as most of the daily ATR
has been passed.

On the bigger time frame, neither bulls nor bears are dominating as the rate is far from the key levels. Such a statement is also assumed by the falling volume.

In this case, sideways trading in the zone of $600-$620 is the more likely scenario for the next few days.

On the weekly chart, one should pay attention to the vital zone of $600. If the candle closes above it, traders may expect a test of the resistance level of $645.2 by the end of the week.

BNB is trading at $607.6 at press time.

Dogecoin (DOGE) Animation Stirring Major Community Buzz.

A new animation of one minute, 24
seconds in length, featuring Elon Musk and Dogecoin (DOGE), is generating a major
buzz in the crypto space as the short clip
addresses prevailing concerns of
interoperability in the Web3 ecosystem.

The post, shared on X by Sir Doge of the Coin, speaks of introspection with Michael Jackson's classic song, "Man in the Mirror," used as the soundtrack to the short animation with a powerful message for players in the cryptocurrency space.

Musk suffers insomnia from DOGE rejection.

The animation portrays the frustrations that greet users of one platform who are unable to transact on another due to a lack of interoperability. In the clip, Musk noticed a little girl denied the ability to pay for a cookie using her X wallet by the DOGE seller at a street corner stand.

The incident troubles Musk, who had a bout of insomnia recollecting on the disappointment faced by users and in a move to right it, acts on the words of the theme song, "Man in the Mirror." This prompts a solution where DOGE and X collaborate as the clip ends, with the little girl being able to pay for cookies using the X wallet, just as the DOGE meme and Musk appear together.

This hints at Musk's plan to launch a peer-
to-peer payment platform and transform X into an all-embracing app that is the "every
thing app" to users globally. The plan for
integration of payment solutions into X is
still unclear, but some are speculating that
Dogecoin is locked as one of the first
supported currencies.

Is DOGE and X collaboration imminent?

in March how Musk made big moves toward crypto payments by obtaining licenses in three new states - Illinois, New Mexico and Oregon. The move is seen as a giant leap to actualize Musk's vision of expanding X beyond the initial scope of Twitter as a social media platform.

Analysts say the animation clip speaks to a possible collaboration given speculations that Musk could be the whale who holds over 36 billion coins.

Satoshi Nakamoto Delivered Final Words on Bitcoin 13 Years Ago Today.

Thirteen years ago, on April 23, the enigmatic figure known as Satoshi Nakamoto delivered his final instructions on the Bitcoin (BTC) ecosystem. This landmark moment, occurring just four months after Nakamoto's last public statement in December 2010, marked a pivotal juncture in the trajectory of the world's leading cryptocurrency.

In emails revealed from former Bitcoin Core developer Mike Hearn, Nakamoto expressed a sense of passing the torch, stating, "I've moved on to other things. It's in good hands with Gavin and everyone."

Speculation abounds regarding Nakamoto's motivations for stepping back from the project. Some suggest a divergence in vision, particularly in light of efforts to align Bitcoin with initiatives like WikiLeaks donations. Others point to external pressures, such as the reported CIA inquiry into Gavin Andresen, a key figure in the cryptographic community.

Good hands.

Regardless of the reasons behind it, the period following Nakamoto's departure witnessed a meteoric rise in Bitcoin's prominence. From its humble origins, Bitcoin surged in popularity, capturing the imagination of tech enthusiasts and investors.

The cryptocurrency's price skyrocketed, reaching unprecedented heights and establishing a new paradigm in digital finance.

Today, Bitcoin stands as a testament to Nakamoto's vision, a decentralized force reshaping economies and challenging traditional financial paradigms.

Despite numerous attempts to unmask the elusive creator, Nakamoto's identity remains shrouded in mystery, adding to the intrigue surrounding Bitcoin's origin story. Whether Nakamoto will ever step out of the shadows and reveal himself to the world remains one of the most intriguing mysteries in the crypto space.

MicroStrategy's Michael Saylor Reacts as Bitcoin Price Stalls Near $66,000.

As Bitcoin grapples with the $67,000 threshold, a price point that has become a battleground for bulls and bears alike, Michael Saylor, MicroStrategy Chairman, interjects a moment of levity into the tense market atmosphere with a tweet, simply stating, "Need a lift?" This remark, while seemingly casual, carries the weight of the current market sentiment and anticipation for its next big move.

The $67,000 mark is not just another
number - it represents a key level that
Bitcoin is presently attempting to surpass.
A sustained break above this price might
usher in a new era of bullish momentum,
while failing to do so could result in Bitcoin
falling back.

According to Into TheBlock, Bitcoin is aiming to secure $66,000 as support, where 1.54 million addresses bought 747,000 BTC. If successful, the next critical resistance level for BTC would be between $69,900 and $71,200.

In the context of BTC price action, BTC paused near $66,000 after encountering a hurdle near $67,220 following days of continuous rising. At the time of writing, BTC was down 0.12% in the last 24 hours to $66,120.

Looking ahead, a solid break of the $67,512 level, which coincides with the daily MA 50, might be necessary for the Bitcoin price to forge ahead and escape the $66,000 level.

Saylor's statement comes at a time when the markets are looking for guidance. Fed Chair Jerome Powell noted last week that the U.S. economy has yet to see inflation return to the central bank's target, implying that interest rate reductions are unlikely anytime soon.

Known for his bullish stance on Bitcoin and his company's significant investment in the cryptocurrency, Saylor's "need a lift?" could be seen as a rallying cry for the market to gather its strength and push past the current stagnation.

237.8 Billion SHIB Grabbed by New Whale After Major Shiba Inu Development.

According to data shared by Etherscan, over a day ago, a recently set up cryptocurrency wallet purchased several hundred billion SHIB meme coins.

Whale grabs 237.8 billion SHIB.

The transaction was made from an anonymous wallet that may indicate an OTC purchase or a whale distributing his cryptocurrency stash between smaller blockchain addresses.

A whopping 237,868,630,126 SHIB were transferred to the aforementioned wallet in total. This amount of meme cryptocurrency is evaluated at $6,290,435 at the time of this writing.

The purchase took place after the SHIB team made a major announcement about securing $12 million in investments for developing a layer-3 solution on top of Shibarium. In the meantime, the SHIB lead has clarified what his recent multiple travels around the world were about.

Shytoshi Kusama explains his recent mysterious travels.

In a recently published tweet, the SHIB project lead known under the alias Shytoshi Kusama suddenly shared the reason why he has changed his location on X/Twitter so many times earlier this year.

He has traveled to Japan, Hong Kong, Puerto Rico and several cities in the U.S, including New York, as well as Hong Kong, Dabai and the Maldives. The SHIB community traced all these location changes on Kusama's official X/Twitter handle, pondering what was going on.

Now, Shytoshi announced that in his travels he chased a goal of raising funds for the layer-3 blockchain to be built. Shibarium is a layer-2 solution built on top of Ethereum, and the new blockchain will be based on Shibarium.

In a recent tweet, SHIB's marketing lead, Lucie, explained what benefits a layer-3 solution would bring to the SHIB community. She stated that adding a L3 layer on a top a L2 is "like putting a cloak of invisibility over fast-moving transactions.”

Here's Why Bitcoin Fees Exploding After Halving.

Bitcoin's fourth halving has come and gone, and its effect can already be seen with an over 3% price bump since the event a sign of upcoming growth compared to past halvings.

Historically, halvings have shown a mix of short-term reactions but tend to lean toward a bullish trend over the long run. Yet, it is crucial to note that there are not many past events from which to form a solid case.

Beyond market fluctuations, the weekend following the halving saw a significant spike, not in price, but in transaction fees. Bitcoin's network fees skyrocketed to a record $146 on average, overshadowing Ethereum's modest $3 fee. This spike caught the community off-guard, although the signals were on the horizon.

Reason behind fees.

Behind the scenes, a big part of this fee
surge can be attributed to the recent
activities around Bitcoin's block space. The Runes protocol's debut a system built to
simplify issuing tokens on Bitcoin
followed in the footsteps of the Ordinals protocol, increasing a demand for space on
the blockchain.

Both protocols involve inscribing data onto Bitcoin blocks, similar to creating NFTs, thereby ramping up the demand for block space and, as a consequence, driving up transaction fees.

What's more, this increase in fees likely saw a boost from Runes' launch, as it pushed for even greater demand, causing notable fluctuations in fee levels over the weekend. The frenzy for block space translates directly into higher costs for executing transactions on the network.

Despite these fee changes, Bitcoin's perpetual swap funding rates stayed relatively neutral, which suggests that market sentiment has not leaned heavily in favor or against the price direction. Even though open interest has dialed back from its peak in March, it is still riding high above $10 billion.

Shiba Inu Lead Thrills SHIB Community With Exciting Tweet: Details.

The Shiba Inu project's lead, Shytoshi Kusama, has thrilled the SHIB community with an exciting tweet, shedding light on his frequent location changes and hinting at significant developments in store for the SHIB community.

Before this time, Kusama frequently changed his location status on social networking platforms, particularly X, switching between Hong Kong, Japan and the United States in a matter of days. His current location is Los Angeles, California.

This has sparked discussion among the SHIB community, with some speculating on a global tour or strategic relationships being formed across these countries.

The second option turned out to be the case, as Shiba Inu announced on Monday that it had secured a massive $12 million from strategic VC partners led by Cypher Capital to launch its next-generation Fully Homomorphic Encryption (FHE) blockchain via TREAT, the Shiba Inu ecosystem's final non-stablecoin token.

"So now you know why I kept changing my location while pitching to the smartest minds in our industry," Kusama remarked in an exciting tweet.

Treat will power Shiba Inu blockchain's fully homomorphic encryption (FHE), which was created in partnership with Zama. The latest fundraising round is expected to help Shibarium cement its position as the epicenter of memes in the crypto world and expand its utility to new heights.

Furthermore, Kusama's tweet hinted at significant developments on the horizon for the SHIB community, suggesting that the project has ambitious plans in store for its supporters.

"This is a big day for SHIB as we push forward for encryption and elevate our entire brand. There's so much in store for the army. I have never been more excited for SHIB," Kusama wrote.

While further specifics were not provided,
Kusama's message has ignited speculation
about potential partnerships, product
launches and ecosystem expansions that
could further propel SHIB to new heights.
With so much in store for SHIB, the
community eagerly awaits future updates
and announcements.

Ripple CLO Speaks out Against $2 Billion Penalty in XRP Case.

In the latest twist of the ongoing legal battle between Ripple and the SEC, the crypto company's Chief Legal Officer Stuart Alderoty has publicly addressed the company's opposition to the SEC's request for $2 billion in penalties. Alderoty emphasized that Ripple's stance remains firm in challenging the SEC's motion for remedies.

Alderoty highlighted the absence of allegations or findings of recklessness or fraud against Ripple, stressing that the company had prevailed on significant issues during the legal proceedings. He condemned the SEC's request for exorbitant penalties as further evidence of the regulatory agency's intimidation tactics against the entire cryptocurrency industry in the United States.

Despite the SEC's push for substantial penalties, Alderoty expressed confidence in the fairness of the judicial process. He affirmed Ripple's trust in the judge to approach the final phase of determining remedies with impartiality.

The Ripple CLO's statement comes amid a contentious legal environment, with the crypto company and the SEC locked in a protracted legal battle over the classification of the XRP cryptocurrency and alleged violations of securities laws.

With the fate of XRP and the broader cryptocurrency market hanging in the balance, the stage is set for a showdown of epic proportions. As Ripple continues to assert its position and the SEC doubles down on its enforcement efforts, the final resolution of this legal saga remains shrouded in uncertainty.

37 Trillion Shiba Inu Protecting Price: Here's How.

Data from Into TheBlock suggests a resilient Shiba Inu price, with on-chain metrics revealing strong backing by holders. Active Addresses by Profitability indicate that the current price zone is underpinned by more than 35 trillion addresses.

Breaking down the on-chain details further, we see that the active addresses are grouped by their purchase price, painting a picture of a community holding on tight. This data implies that the current price level is a comfortable holding point for many, possibly acting as a floor for the price as these holders may likely resist selling unless the price sees a significant increase.

Turning to the chart for a technical snapshot, SHIB has been making moves. Support has been established at the $0.000022 level, a base that SHIB has bounced off from in the past. On the resistance side, SHIB faces one at the $0.000028 mark.

The volume has been steady, neither showing a clear sign of a surge nor a worrying drop-off. This steady volume, combined with a significant portion of holders sitting "In The Money," can be interpreted as a potential stabilizing factor for the current price levels.

If market sentiment remains strong and the market absorbs any selling pressure, SHIB could see a push toward the $0.000028 resistance level. The critical question is whether it can break through and hold above this point, potentially paving the way for further growth.

One way or another, Shiba Inu is one of the most volatile assets on the cryptocurrency market, and most of its actions are unpredictable. Stays cautious in order to avoid a rapid sell-off that may occur at any given moment, despite the positive on- chain situation.