Bitcoin (BTC), the leading cryptocurrency in terms of market capitalization and popularity, has recently achieved significant milestones despite its current price being far from its peak levels registered in November 2021.
According to a report by CryptoPotato, the BTC percent supply last active 3+ years ago has exceeded 40%, reaching a new all-time high. This indicates that HODLers, or long-term holders of Bitcoin, continue to trust and hold onto the asset. This high percentage suggests that investors believe in the potential for a significant price rally in the future.
Prominent figures in the cryptocurrency industry like Robert Kiyosaki, author of the best-seller “Rich Dad, Poor Dad,” Adam Back, CEO of Blockstream, and Tom Lee, Managing Partner at Fundstrat, have predicted that Bitcoin could surpass the coveted $100K level in the foreseeable future.
Ripple (XRP) has also made notable advancements recently, specifically in terms of its user base and technology improvements. As reported by CryptoPotato, the total number of accounts on Ripple’s XRPL is close to reaching the 5 million mark. Additionally, the balances of XRP held in these wallets amount to 58.6 million, with XRP reserves standing at around 47.8 million.
An interesting development worth mentioning is the integration of an automated market maker (AMM) and a clawback feature to XRPL. The native Automated Market Maker, XLS-30, will enable trading of digital assets in automated liquidity pools and broaden the reach of DeFi stakeholders. However, it is important to note that the clawback feature will not allow users to regain XRP tokens.
CTO David Schwartz believes that these advancements could potentially have a short-term impact on the price of Ripple’s native coin. However, in the long term, they are expected to reduce volatility and create a more stable environment for XRP.
Shiba Inu (SHIB)
Shiba Inu (SHIB), often touted as the “Dogecoin killer,” has also reached significant milestones in recent times, particularly with the introduction of its layer-2 scaling solution called Shibarium.
According to the CryptoPotato report, the total number of newly verified contracts on the Shiba Inu network witnessed a staggering 530% increase on September 18. Furthermore, the number of wallets on Shibarium has surpassed the 1 million mark and currently stands at over 1.24 million. Shibarium, which went live at the end of August, aims to enhance transaction speed and reduce costs for Shiba Inu.
Despite the prolonged crypto winter and the volatility in the cryptocurrency market, the achievements and developments in Bitcoin, Ripple, and Shiba Inu indicate that these digital assets continue to attract attention and hold potential. Investors and enthusiasts closely monitor these advancements as they shape the future of the crypto landscape.