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Ripple Vs. SEC, Shiba Inu, US Elections Steal Spotlight 

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2 months ago

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The crypto universe has closed another week with remarkable developments unfolding across the broader sector. While Ripple vs. the U.S. SEC lawsuit saw new advancements, Shiba Inu gained significant attention due to ecosystem developments. Simultaneously, with the U.S. elections nearing, the market appears to be echoing a frenzy. So, let’s take a closer look at some of the top cryptocurrency market updates reported by CoinGape Media over the past week.

Ripple vs. SEC Lawsuit Advances

Notably, this week saw the Second Circuit Court of Appeals issue a deadline for the U.S. SEC‘s opening brief regarding appeals in the XRP lawsuit. The deadline set by the court of appeals was January 15, 2025.

Simultaneously, Ripple executives Brad Garlinghouse and Chris Larsen hired prominent attorneys to dismiss the claims in the XRP lawsuit this week, sparking market discussions. Meanwhile, the U.S. court ordered Ripple Labs to consider an alternative resolution before lawsuit proceedings concluded. Overall, these legal maneuvers have caused a stir in the XRP market, with on-chain movements adding to investors’ speculations. Ripple was recorded unlocking nearly 900 million XRP from escrow this week, adding intrigue toward price movements.

Also, the recent buzz around an XRP ETF has added to investor enthusiasm surrounding the crypto. Ripple CEO Brad Garlinghouse remains optimistic on an ETF with Bitwise Invest, Canary Capital, and 21Shares forging ahead with S-1 forms. Overall, market watchers are extensively eyeing the coin for price action shifts amid recent developments.

Shiba Inu Sparks Optimism Across Crypto Market

Meanwhile, it’s also worth mentioning that Shiba Inu emerged as the talk of the cryptocurrency town this week. Shiba Inu lead developer Shytoshi Kusama recently sought a meeting with Ethereum co-founder Vitalik Buterin in a bid to boost optimism for the meme token. Simultaneously, the lead developer also revealed how SHIB outshined BTC, bringing additional investor optimism toward the meme coin.

Also, the SHIB burn rate noted a remarkable surge this week, soaring 253,000% and sparking market optimism surrounding the coin. Further, crypto analyst Javon Marks anticipated a new ATH for Shiba Inu’s price amid recent optimistic developments. Altogether, the coin set off optimistic waves this week, witnessing noteworthy advancements.

U.S. Elections Loom Sparking Speculation

The looming U.S. elections have further pushed the market into a state of frenzy, with market watchers expecting a pivotal shift in sentiment despite who wins. Recent Polymarket data showed that Donald Trump’s winning odds stood at 55.2%, whereas Kamala Harris’ stood at 44.8%, somewhat attributable to the Republican’s pro-crypto stance.

Further, a recent CoinGape Media report revealed that cryptocurrency investors and policymakers should expect a bipartisan influx of digital asset-friendly lawmakers in both chambers post-2024 elections. Simultaneously, in light of Elon Musk’s D.O.G.E. role under Trump, the American billionaire sought expertise from U.S. Fed critic Ron Paul, sparking discussions nationwide.

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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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ai16z Price Rally Extends 200% Making It Top Solana Meme Coin

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12 hours ago

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January 2, 2025

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In the last 24 hours, the ai16z price gained another 33% making it the top Solana meme coin leaving behind the likes of Pudgy Penguins (PENGU) with a market cap of $2.641 billion. Moreover, it is also the first AI token on Solana to hit a $2 billion market cap as the AI agents narrative picks up steam moving into 2025. Reports suggest that whales have accumulated nearly $25 million of the tokens recently.

Solana Meme Coin ai16z Price Rally Steals the Limelight

Amid hitting fresh milestones, the ai16z price rally has extended more than 200% on the weekly chart moving all the way to $2.41. With more than 600% monthly gains, it is among the top AI-based meme coins that analysts look forward to moving into 2025.

As per the Coinglass data, today’s price rally for the crypto comes with a 147% surge in open interest moving all the way to $63 million. Additionally, the daily trading volume is also up by 40% to more than $260 million.

The ai16z price pump from less than $1 to $2.4 has come in less than seven amid huge whale accumulation for the Solana AI coin. Blockchain data from SOL Scan highlights strong whale activity surrounding the altcoin.

  • Whale wallet wVbrpF…BYuA withdrew 1.86 million coins, (valued at $3.95 million) from Gate.io just four hours ago. This wallet now holds a total of 10.21 million of the crypto, amounting to $22.86 million.
  • A new wallet, CoErvN…8DiS, was created 22 hours ago and has already withdrawn 9,317 SOL ($1.77 million). These funds were used to purchase 955,500 tokens.

The surge in whale activity underscores the growing interest in the AI coin, with substantial investments signaling strong confidence in the token’s future prospects. Developers behind the project are now focused on overhauling its tokenomics and launching a dedicated Layer 1 network akin to Pump.fun. These planned changes to the tokenomics could significantly influence ai16z’s price, alongside broader impacts on related cryptocurrencies within the space.

This AI coin is the first venture capital DAO driven by AI agents. Spearheaded by the AI agent @pmairca, the project harnesses artificial intelligence and collective intelligence to optimize investment decision-making

AI Agents Narrative Picking Up Fast

Crypto market analysts believe that moving into 2025, the AI agents narrative will dominate the market. Notably, VIRTUAL, a leading AI-related cryptocurrency, experienced a remarkable price surge in 2024, solidifying its position as one of the sector’s top performers. Similarly, ai16z, also contributed to this sector with strong gains.

AI-driven infrastructure projects made significant strides as the year began. VIRTUAL reached a new all-time high (ATH) of $5.06, climbing to rank 31 by market capitalization. On the other hand, ai16z price achieved an ATH of $2.42 following a remarkable 192% price surge over the past seven days, reported Coingeckco.

Solana meme coins were on a roll last year in 2024 driving a large part of the overall ecosystem activity. Off lately, players like Peanut the Squirrel (PNUT) and Fartcoin (FARTCOIN) have been dominating the market activity.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

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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S2F Founder PlanB Reaffirms $500,000 Bitcoin Price Target

Published

15 hours ago

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January 2, 2025

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Stock-2-Flow (S2F) founder PlanB just took to the X platform to reaffirm that the price target for Bitcoin (BTC) is $500,000. He claimed that his forward guidance for the coin has not changed in the last three years when Bitcoin price traded at just $20,000. This latest forecast is one of the boldest for the coin looking ahead into 2025.

Factors to Drive the Price Growth – Halving and Pump

PlanB highlighted two of his previous X posts where he made some predictions about the future outlook of Bitcoin.

One of these posts dates back to October 2022 while he shared the other last year. In the earlier post, the analyst noted that his forward guidance for the next three years for Bitcoin takes account of the 2024 halving event. He noted that the halving can significantly boost the price of BTC.

PlanB is convinced that most of the Stock-2-Flow (S2F) model impact will play out this year. Utlimately, this validates the S2F target of approximately $500,000 projected for this year.

Before Q4, 2024 came to an end, Bitcoin price hit $100,000 and rallied as high as $108,000, setting it as an All-Time High (ATH).

The coin has pared off its gains thus far. At the moment, the coin is currently trading at $94,591.42 amid a 1.16% surge in the past 24 hours. Per his latest forecast, PlanB struck the $100,000 level from his list. Besides the average target of $500,000, he said the coin could trade in the high range of $250,000 to $1 million.

The New 2025 Bitcoin Price Range Target

The PlanB price target for Bitcoin may seem insurmountable to a few market observers but it is worth noting that it aligns with predictions from other experts.

The general 2025 BTC price predictions noted that the coin’s valuation may fall within the range of $150,000 to $300,000. Several experts believe the potential establishment of a US strategic Bitcoin reserve will be a key event that could help propel the coin to new highs in 2025.

Institutional investors’ adoption is another factor that could serve as a lever for the price of the coin. Business intelligence and software firm MicroStrategy is one of the institutions leading this movement. Recently, MicroStrategy bought 2,138 BTC for $209 million to take its total count to 446,400 BTC.

Other firms like Riot Platforms and Semler Scientific are also joining the trend.

 

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

Follow him on X, Linkedin

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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John Deaton on XRP Price Target: “I Have No Idea”

Published

18 hours ago

on

January 2, 2025

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When one would have thought that John E. Deaton would boldly express his bullish stance on the XRP price, the pro-crypto lawyer outrightly stated that he had no idea how high the coin could soar. Deaton made a long post on X after Peter Chung, Head of Research at Presto, appeared on Squawk Box discussing crypto.

John Deaton Slams Visible Boycott by Top Forecasters

Chung noted his predictions about leading digital assets, Bitcoin (BTC) and Solana (SOL), for 2025. For BTC, the firm expects that it will hit $210,000, while SOL is forecasted to trade at $1,000.

Deaton expressed his astonishment in light of these predictions, noting that XRP did not feature in the projections. He outlined the coin’s successes, including becoming the third largest cryptocurrency by market cap, excluding USDT.

John Deaton also noted that XRP is one of the few cryptocurrencies that ended the year in the green. On this basis, he did not see the omission of XRP as fair. Though Deaton claimed that he never gave crypto predictions, he highlighted an earlier forecast by Barron.

In a recent article, the American newspaper made some strong claims, including that “XRP has been one of the biggest post-election crypto winners and has quadrupled in value since Nov. 5.”

Even Arthur Azizov, CEO of the crypto business B2BinPay, feels very bullish about XRP. Azizov predicted that XRP could reach a price range of $5 to $7 in the first half of 2025. To further furnish his stance, Azizov cited XRP’s strong momentum following the completion of the US elections.

Additionally, he pointed to the strides made by Ripple to solidify its place as a key player in the crypto space.

Where is XRP Headed?

According to CoinMarketCap, the Ripple-associated coin currently has a market value of $2.31, following a 10.8% surge in the past 24 hours. While this is a significant boost, an earlier price analysis projects a $5 target for XRP this year amid growing whale embrace.

Last month, top market analyst expert Ali Martinez pointed out that the coin is gearing up for a massive rally. He named the technical and historical trends around it as “one of the most promising setups” for XRP.

Martinez then predicted that this setup indicates a potential rally to the $11 target on the horizon.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

Follow him on X, Linkedin

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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