Crypto Headlines Of The Week: BTC Halving, Solana, & Meme Coins Ignite Bullishness

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Cryptocurrencies continue to surprise us with significant advancements during another action-packed week. Bitcoin‘s long-anticipated halving took place, leading to a bullish response from the market. Similarly, Solana and meme coins experienced noteworthy cryptographic developments.

In the meantime, Solana made some enhancements to improve the network’s capabilities. Additionally, the market for meme coins experienced a resurgence after a slump, generating significant attention from investors.

Here’s an overview of some of the top headlines for this week:

BTC Halving Happens At Long Last

The long-anticipated Bitcoin halving took place, causing ripples throughout the cryptocurrency market. Although Bitcoin’s price didn’t surge significantly following the event, remaining at around $63,000, there’s a sense of positivity in the air as investors worldwide look forward to potential price increases.

Based on past trends in Bitcoin’s price history, there seems to be a pattern of extended periods of relatively stable growth after each halving event. Following this consolidation phase, Bitcoin’s price typically experiences a significant upward trend, resembling a parabolic curve. This observation has kept the crypto community excited and anticipating another peak in Bitcoin’s value around late 2024 or early 2025.

During the halving, Bitcoin gave birth to its first meme coin, named PUPS, as the Runes protocol was activated. This double news ignited significant excitement amongst traders, boosting expectations for a bullish price trend in Bitcoin.

Solana Tackles Network Congestion

This week, Solana, Ethereum‘s long-standing competitor, announced several new developments aimed at resolving its network congestion problem. The congestion on Solana’s blockchain sparked criticism from the crypto community, leading the Solana Foundation to take action and find solutions.

Significantly, Anza from Solana’s devshop assisted in releasing v1.18.11 on the development network (devnet) for Solana. However, this deployment encountered an initial problem. Yet, the devnet was subsequently restarted on April 20, rekindling hope and excitement within the Solana community regarding their cryptographic projects.

On April 15th, the Solana team announced that they would not be releasing v1.17.31 for their mainnet, causing excitement among investors about their work on solving complex cryptographic problems. This news contributes to a positive outlook for SOL, the native token of Solana, in the future.

Meme Coins’ Recovery Ignites Frenzy

This week, the meme coin sector made headlines with numerous innovations, attracting much interest from crypto market followers. After the market corrections prior to the Bitcoin halving event, meme coins such as DOGE, SHIB, and others experienced a surge in pricing.

This week, Dogecoin made significant strides in its cryptocurrency journey as Bitmain announced plans to add DOGE mining to their platform. On the other hand, Shiba Inu, Dogecoin’s competitor, showed signs of recovery and was followed by several bullish events.

Shibarium, Shiba Inu’s L2, witnessed a staggering surge in daily transactions, whereas BONE, a Shibarium token, recovered in tandem with the broader trend illustrated by SHIB. Shiba Inu’s marketing lead shared vital insights into the newly launched PIKA and DAMN tokens, injecting a shot of optimism into Shiba Inu’s cryptographic ventures.

In addition, a newcomer named PUPS joined the meme coin market, as previously stated, marking it as the first meme coin built on Bitcoin. Collectively, these developments ignited significant interest among investors in the meme coins industry, fueling optimism for the tokens within the larger cryptocurrency community.

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2024-04-21 08:36