This week saw a series of major breakthroughs in the world of cryptocurrency and AI. Bitcoin sparked a frenzy in the markets while one of the most powerful companies in the country secured a landmark agreement to govern the use of AI.
Here is a wrap-up of the week’s top advancements that have kept crypto market enthusiasts engaged;
Bitcoin Moves Ahead
The world’s first cryptocurrency has seen a dynamic week as Luke Dashjr, a core developer, recently hinted at protocol changes, with the possible cessation of BRC-20 Ordinals. Simultaneously, Binance, a leading crypto exchange, announced a strategic airdrop of BTC, ETH, and Shiba Inu tokens. This airdrop is being offered to users as a way to enrich themselves and highlights Bitcoin’s pivotal role in shaping the broader crypto market dynamics. Furthermore, the US Space Force has been promoting Bitcoin adoption.
JP Morgan Launches Bitcoin ETF
The financial giant JP Morgan has also reached a significant milestone in its history. It appears the company is set to launch a Bitcoin ETF. This adds a layer of credibility to the token. Meanwhile, the SEC continues to discuss the approval of a Bitcoin Spot ETF which could result in a major breakthrough.
Shiba Inu Resurrects
Data has revealed the staggering accumulation of 600 billion SHIB tokens on Binance, which triggered a 10% increase in SHIB prices and BONE. The Shiba Inu burn rate also surged dramatically, coincident with a strange phenomenon in which the Shiba Inu price was omitted. This anomaly, along with the constant burning of SHIB amid an increase in whale activity, further augments SHIB’s bullish momentum. SHIB has now surpassed LTC and DAI in the market rankings and is one of the top smart money tokens.
EU Propels Revolution With Rules
The European Union is making strides in establishing comprehensive AI rules. Recent crackdowns on AI-related laws within Europe have led to the EU being primarily concerned with regulating platforms like ChatGPT. The latest AI agreement reflects the EU’s dedication to navigating discussions that balance promoting AI-related technologies and preserving privacy, reflecting global efforts for responsible and ethical artificial intelligence use.
