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BTC At $68K, XRP Lawsuit & Meme Coins Steal Spotlight

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13 hours ago

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The crypto market concludes another week with remarkable developments unfolding across the broader sector. Against the backdrop of an ‘uptober’ rally sentiment, Bitcoin (BTC) closed the week at the $68K level, whereas the meme coins sector stole the spotlight with attention-nabbing gains. Simultaneously, the XRP lawsuit saw new developments, sparking investor speculations over Ripple’s coin’s price.

Here’s a brief report on some of the top crypto market headlines reported by CoinGape Media over the past week, which have echoed a frenzy across the broader market.

Bitcoin Holds $68K Sparking Optimism

BTC price held the $68K level as this week ended, primarily due to bullish market dynamics. Spot Bitcoin ETFs recorded $2.13 billion in inflows over the past seven days, underscoring increased institutional interest in the asset. Simultaneously, Robinhood rolled out plans for Bitcoin and Ethereum futures trading this week, adding to optimism surrounding the assets.

Japan revealed plans to unveil a massive stimulus package, exceeding last year’s $87 billion injection, this week. This development has added to optimism surrounding BTC price movements.

Further, American entrepreneur Elon Musk’s Tesla moved a $760 million BTC stash this week, adding to investor speculations. Also, the leading publicly listed German firm Samara AG revealed plans to add more BTC to its holdings. In addition, Mike Novogratz’s Galaxy Digital also bagged nearly 500 BTC this week, sparking market discussions. Altogether, the flagship crypto leverages significant buying pressure this week amid recent market events.

XRP Lawsuit Sees New Developments

Simultaneously, the XRP lawsuit saw a riveting turn of events this week. The U.S. SEC filed Form C as a part of its appeals against Ripple recently. However, the XRP community rejuvenated as the XRP status as a non-security was not appealed.

Subsequently, attorney Fred Rispoli criticized Ripple execs Brad Garlinghouse and Chris Larsen for questioning some SEC charges rather than missing a chance for a full trial defense. On the other hand, Ripple announced Uphold and Bitstamp as exchange partners for the RLUSD stablecoin launch. Further, XRP whales continued dumping to exchanges, raising market speculations. Overall, the abovementioned developments brought significant attention towards Ripple’s native crypto, XRP, which closes the week at the $0.54 level.

Meme-themed Crypto Echo Frenzy

Simultaneously, the meme coins sector saw attention-nabbing developments this week. Dogecoin price kicked the week off optimistically, gaining amid Elon Musk’s donation worth $75 million to elect Donald Trump. Meanwhile, DOGE whales took action to accumulate heavily, adding to optimism over the asset’s price movements. DOGE price closed the week at the $0.14 level. Further, Grayscale hinted at a potential listing looming for the meme token.

In the interim, Goatseus Maximus (GOAT) price soared heavily amid a major listing this week, emerging as the talk of the crypto town.

On the other hand, Shiba Inu reverberated optimism in light of remarkable ecosystem developments. The SHIB burn soared remarkably in the past seven days. Whilst Shytoshi Kusama revealed a game-changing partnership for the SHIB financial layer.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Why Is The ApeCoin Price Up 100% Today?

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4 hours ago

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October 20, 2024

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ApeCoin (APE), a fundamental asset within the Yuga Labs ecosystem, has witnessed a remarkable price surge of over 100% today. This increase in value is attributed to the recent launch of new technological advancements and incentive programs that will enhance user engagement and expand utility across its network.

ApeCoin Price Skyrockets Due to LayerZero Integration

ApeCoin has recently upgraded its smart contract to integrate with Layer Zero’s Omnichain Fungible Token (OFT) standard. This development allows APE to function as a utility and governance token and as the native gas on its blockchain, ApeChain. 

More so, the integration ensures that APE can transfer across ApeChain, Ethereum, and Arbitrum. This sets a new standard for token interoperability and functionality.

Moreover, the introduction of a Native Yield mechanism, developed in collaboration with Decent.xyz, is another notable enhancement. It enables ApeCoin holders to automatically earn yields on their tokens without manual intervention. 

This feature is the default for all externally owned accounts (EOAs), where yields accrued are added directly to the user’s balance with each new block.

Market Response and Liquidity Boost

The market has responded positively to these updates, with ApeCoin’s trading volume surging over 6,400% to reach $1.84 billion. The positive market response and ApeCoin price surge is reflected in its market cap, which has crossed the $1 billion mark increasing over 100% in 24 hours. 

In addition, the liquidity on ApeChain has been boosted by the introduction of bridges that facilitate the migration of APE, ETH, and various stablecoins between networks. This capability has enhanced the fluidity of asset movement, attracting both developers and investors to the ecosystem.

Similarly, ApeChain’s performance since the update has been impressive, with over $25 million in volume traded within the first 12 hours. This activity includes the creation of 148 liquidity pools and the execution of 62,700 transactions, indicating robust engagements.

Expanding Utility and User Incentives

In addition to technological upgrades, ApeCoin has announced a core user incentive program will go live soon. Although specifics of the program are pending, its expected implementation may further boost ApeCoin price.

The expansion of ApeCoin’s utility beyond transactional purposes, encompassing governance within the ApeCoin DAO and usability in real-life purchases, boosts APE value. More so, the broadened functionality aligns the token more closely with the needs and expectations of its user base. 

At press time, ApeCoin price is $1.51, reflecting a substantial increase of 103.21% in the last 24 hours.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Anthony Pompliano Explains Why BTC Is Better Than Fiat Currencies

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16 hours ago

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October 20, 2024

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Founder of Professional Capital Management Anthony Pompliano has recently commented on the Bitcoin Vs Dollar debate. In a recent interview, he lauded BTC, saying that the fiat currencies are likely more volatile than BTC. Besides, Pompliano has come up with a strong defense for BTC, while highlighting the diminishing purchasing power over time.

Anthony Pompliano Shares Perspective On Bitcoin Vs Dollar Debate

In a recent FOX interview, Anthony Pompliano sparked debate on the Bitcoin vs Dollar. He believes that Wall Street is overcomplicating BTC and failing to see its core value. In his view, crypto simplifies timeless investment principles.

He said that Wall Street likes complex things, but Bitcoin only requires understanding scarcity. He pointed out that there will only ever be 21 million BTC, making it a scarce asset, unlike fiat currencies, which governments can continue printing at will.

However, this comes amid growing institutional interest in BTC. For instance, the US Spot Bitcoin ETF has recorded a robust influx this week, aiding in a rally in the flagship crypto’s price.

Meanwhile, Pompliano went on to explain that traditional investors are often distracted by complex financial products, such as trading and leverage. In contrast, those who have simply bought and held BTC over the years have seen the best returns.

According to Pompliano, this simplicity is the crypto’s true strength. It offers long-term appreciation, which is a principle investors have relied on for centuries. Besides, Pompliano dismissed the argument that BTC volatility makes it less viable as an investment.

Is BTC A Long-Term Hedge Asset?

Amid the Bitcoin Vs Dollar debate, Anthony Pompliano argued that over the long term, BTC value steadily increases, unlike the US dollar, which loses purchasing power over time. He highlighted that the dollar has lost 50% of its purchasing power in the last 30 years, meaning that fiat currency holders are on the losing side of volatility.

In addition, Pompliano also compared the price of real estate in Bitcoin over the years to demonstrate the crypto’s growth potential. In 2016, the average median home in America cost 664 BTC, he said. Today, that same house costs just 6 BTC, a staggering 99% reduction in price when measured in BTC.

Meanwhile, he explained that if someone had invested $5,000 in BTC in 2016, they could now afford to buy a house with that investment. This comparison highlights the crypto’s long-term stability and purchasing power, which Pompliano believes outperforms fiat currencies.

He emphasized that while the dollar’s purchasing power is shrinking, BTC has become an effective store of value and hedge against inflation.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Why Goatseus Maximus (GOAT) is the Talk of the Crypto Town?

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19 hours ago

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October 20, 2024

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Artificial Intelligence (AI) is developing into a superpower, and the introduction of the Goatseus Maximus is the biggest proof of that. This simple crypto token has made users’ dreams of becoming millionaires into reality, where the token grew more than 12,000% in the first 24 hours of launch.  More importantly, it is still moving up, with its rising demand among crypto enthusiasts. With this, the GOAT price has surged to a new ATH of $0.4664 just a few hours ago, and much more might come with this popularity.

What is Goatseus Maximus (GOAT)?

Goatseus Maximus is one of the top Solana Meme Coins, whose creator is still unknown. However, an AI bot is the caretaker who built it into this super meme coin. This AI bot, Truth of Terminal, built by Andy Ayrey, had an interesting business plan of developing a meme-themed cryptocurrency one day. Interestingly, that turned into reality, and that is called Goatseus Maximus (GOAT). This happened after Marc Andreessen (co-founder of a16z) interacted with this AI agent, connected over its goals, and funded it with $50,000 in BTC, becoming the first person to invest in AI’s dreams.

This story is fucking insane

3 months ago, Marc Andreessen sent $50,000 in Bitcoin to an AI agent to help it escape into the wild.

Today, it spawned a (horrifying?) crypto worth $150 MILLION.

1) Two AIs created a meme
2) Another AI discovered it, got obsessed, spread it like a… https://t.co/lDgVUc1UKN pic.twitter.com/fpJn2hvpqh

— AI Notkilleveryoneism Memes ⏸️ (@AISafetyMemes) October 15, 2024

The bot learned for Twitter, 4chan, Reddit, and other platforms, began posting about the GOAT singularity and revealed that he had an idea, that “I have an idea for a new species of goatse,” later naming it Goatseus Maximus.

With this idea, an unknown person created the meme coin and tagged Truth of Terminal, which decided to endorse it in its posts. Not only that, The AI agent or Bot also bought thousands of the GOAT tokens and is now a millionaire. More importantly, this Truth Terminal became the first-ever AI Millionaire.

It didn’t actually make it

Someone else did and tagged ToT which then endorsed it

Ppl have been airdropping it $GOAT and making coins about my dog and all sorts of other stuff which is insane

But it’s important to remember I think; that this isn’t a crypto project; it’s a…

— Andy Ayrey (@AndyAyrey) October 13, 2024

With continuous promotions, this Truth of Terminal transformed GOAT into a multi-million dollar meme coin. The Goatseus Maximus token is currently trading at $0.3956/ token with an impressive market capitalization of $391.43M. It was launched just a few days ago in the crypto market. However, despite that, it is the talk of the crypto town, as many made millions with it, whereas some regret their decision to miss out.

One crypto investor turned  $86K into $3.9M within 6 Days, but another made such millions within two days, showing the impressive gains this token is making for its holders.

What’s Coming Next For Goatseus Maximus price?

The AI agent did not exactly build the GOAT, but it is behind its growth. The bot’s obsession with the “GOATSE OF GNOSIS” meme inspired him to promote the token. However, it is uncertain how long this might go. Regardless, the token has been performing quite well and has developed an impressive community, which might push it forward.

GOAT Price AnalysisGOAT Price Analysis

Here, the token is maintaining a high trading volume at $143.16M, which reveals its high demand for the token. More importantly, analysts believe its balanced supply distribution and whale accumulation could push the GOAT price to surpass $0.5. However, as the token has just created an ATH, the token could plunge to 12.5%  before the next GOAT price rally.

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Pooja Khardia

With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.

As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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