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XLM Skyrockets 22%, XRP Follows Suit, BTC Stabilizes at $118K: Weekend Crypto Recap Following an impressive rally, Bitcoin's price has stabilized at $118,000 after reaching a new all-time high of almost $119,000. This marks a weekly gain of over 9% for the leading cryptocurrency, which has also seen its market capitalization increase to $2.345 trillion. Meanwhile, altcoins have also seen significant gains. XLM outperformed others with a 22% surge, now trading above $0.37. XRP also experienced an upswing, peaking at almost $3 before dropping slightly to below $2.8, still marking a 7% daily increase. The cumulative market cap of all cryptocurrency assets has added over $300 billion since Wednesday, totalling $3.75 trillion.

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Hacker Refunds $40 Million Taken from GMX, Receives $5M Reward Only two days after stealing around $42 million in cryptocurrencies from GMX, the hacker has started returning the stolen assets. The cybercriminal has given back at least $40.5 million in crypto assets, including ether (ETH) and Legacy Frax Dollar (FRAX). The hacker had exploited a weakness in GMX’s smart contracts, enabling them to artificially inflate the price of the GMX liquidity provider token. However, in response to GMX's offer of a 10% bounty with no legal repercussions, the hacker began returning the stolen funds. They returned a total of $40.5 million, and accepted a bounty of approximately $4.5 million. GMX has confirmed that the incident did not affect its V2 protocol, which does not have the vulnerability exploited in V1.

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ADA Experiences 15% Daily Upsurge: Could This Signal the Start of a Larger Bull Run? Cardano (ADA) has seen a 15% daily increase and 23% weekly gain, as the Cardano Foundation continues to invest in adoption, operational resilience, and education. The foundation allotted $15 million of its 2024 budget towards partnerships with global organizations such as NASA, FC Barcelona, and the United Nations Development Programme. Meanwhile, ADA is trading at $0.72 with a 24-hour trading volume of $1.5 billion, and technical analysts suggest a bullish reversal of 40%. Large investors have purchased an additional 120 million ADA tokens in the past two weeks. The possibility of an ADA ETF in the U.S., offering traditional investors exposure to ADA, is also on the horizon with approval odds increasing to 89% per Polymarket data.

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Crypto Update: Skyrocketing Bitcoin (BTC), Surge in Ripple (XRP) Predictions, and More: Crypto Summary Bitcoin (BTC) has achieved a new historical high with forecasts indicating further growth. Ripple (XRP) has confirmed a multi-year triangle breakout with predictions of an increase to $3 or a new all-time high. Ethereum (ETH) has risen over 20% in a week with predictions of a surge to $4,000. BTC's short-term holder spent output profit ratio (SOPR) doesn't show signs of aggressive profit-taking, leading to minimal sell pressure. XRP's Relative Strength Index (RSI) has risen to 85, indicating an overbought market. Despite warnings from the Ethereum Foundation, ETH has continued its uptrend. The Foundation's past sell-offs have often preceded notable price pullbacks, but exceptions have occurred, such as ETH's continuous rise despite sell-offs in November last year.

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Peter Schiff Advocates for Bitcoin Investors to Cash Out and Invest in Silver Bitcoin critic, Peter Schiff, is advising investors to sell their Bitcoin (BTC) holdings and invest in silver as the cryptocurrency reaches a new all-time high of over $118,000. Schiff suggests that with Bitcoin's speculative and overextended high, it is the ideal time for BTC holders to cash in and switch to silver, which he considers a stable and undervalued alternative. Despite his advice, Bitcoin continues to outperform silver in market value, ranking sixth among global assets with a market cap of $2.20 trillion. Critics of Schiff's stance argue that Bitcoin has clearly outperformed silver and assert they have no plans to dispose of their BTC for silver. This is not the first time Schiff has criticized Bitcoin, previously advising traders to sell BTC in favor of gold mining stocks.

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