According to CryptoPotato, the United Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs on January 10, causing significant price volatility for BTC. The cryptocurrency experienced rapid fluctuations and eventually consolidated between $42,000 and $43,000. Ripple, on the other hand, faces an ongoing legal battle with the SEC, with a trial scheduled for April 2024. The outcome of the case remains uncertain.
Shiba Inu, the second-largest meme coin by market capitalization, experienced an increased token burn rate, leading to billions of assets being removed from circulation since the beginning of the year. The burning program has been successful, with more than 9 billion assets destroyed since the beginning of 2024, representing over 10% of the amount burned throughout 2023. Permanently removing SHIB tokens from circulation can create scarcity and a possible price increase for the meme coin, which has been on an uptrend lately, rising 9% on a weekly scale.
