Crypto Headlines of The Week: Bitcoin, Shiba Inu, & AI Fans Speculations

This week, the cryptocurrency universe encountered a whirlwind of breakthroughs as the top trending cryptos Bitcoin and Shiba Inu, among many others, orchestrated a sense of frenzy within markets. Besides, in the realm of AI, a prominent powerhouse forged ahead with securing a groundbreaking accord for governing the use of AI.

Here’s a wrap-up of some of the top advancements this week that fueled speculations among crypto market enthusiasts;

Bitcoin Moves Ahead

The world’s first cryptocurrency appears to have marked a dynamic week as Luke Dashjr, a core developer, recently hinted toward protocol changes with the potential cessation of BRC-20 Ordinals. Simultaneously, Binance, a leading cryptocurrency exchange, announced a strategic airdrop of BTC, ETH, and Shiba Inu coins to users. Airdropping the aforestated tokens to users comes forth as an effort to enrich Binance’s user engagement. However, it also sheds light on Bitcoin’s pivotal role in shaping the broader crypto market dynamics.

In addition, what comes as a surprise is the U.S. Space Force’s governmental touch on Bitcoin. The US Space Force recently ushered in the promotion of Bitcoin adoption. This move was further advocated by the U.S. Department of Defense, investor Cathie Wood, and Deaton.

Furthermore, in a gust of developments, the financial giant JP Morgan appears to be setting its sights on the potential launch of a Bitcoin ETF. This marks a pivotal milestone within Bitcoin’s horizon as it also adds a layer of credibility to the token.

Lastly, the SEC forges ahead with discussions revolving around approving a Bitcoin Spot ETF. The advancements concerning the matter suggest a potential breakthrough in regulatory processes, aiding in Bitcoin Spot ETF approval.

Also read: Cardano (ADA) Price Hits 18-Month High, Potential Price Targets Ahead

Shiba Inu Resurrects

Concerning the Shiba Inu ecosystem, recent advancements shed light on significant whale movements and investor activity.

Market data showcased the accumulation of a staggering 600 billion SHIB from Binance, triggering a significant 10% upswing in SHIB and BONE prices as reported. Furthermore, the Shiba Inu burn rate recorded a remarkable surge, coinciding with a peculiar phenomenon wherein the Shiba Inu price also ditched a zero. The aforestated anomaly, accompanied by the constant burning of SHIB amid an increase in whale activity, further augments SHIB’s bullish momentum.

Moreover, in terms of market rankings, SHIB overtook LTC and DAI, marking a noteworthy milestone for the token. Last but not least, the SHIB token emerged among popular tokens, such as LINK and 1INCH, at the forefront of the smart money token inflow list. This chronicle showcases Shiba Inu’s potential revival within the broader crypto market.

EU Propels With Revolutionary AI Rules

In a tempest of strides, the European Union (EU) appears to be marking a significant milestone in casting comprehensive AI rules. With the recent crackdown on AI-related rules within Europe, the EU primarily aims to regulate platforms like ChatGPT.

Furthermore, as the EU advances further, its impact on AI systems like OpenAI, among others, appears to have stirred up quite the speculation within the AI realm.

The latest AI agreement underscores the EU’s dedication to navigating discussions that balance promoting AI-related technologies. Besides, it also preserves privacy, reflecting global efforts for responsible and ethical artificial intelligence use.

Also read: Crypto Prices Today: BTC, Pepe Coin Plummet As FLR Notes Strong Gains