Bitcoin saw a mixed week in terms of price and recent developments. BTC saw positive highlights during the week as reports emerged that the world’s largest asset manager BlackRock, which looks after $10 trillion in assets for institutional investors, is gearing up to enter the Bitcoin and cryptocurrency market.
Earlier in the week, the Canadian branch of accounting giant KPMG announced it had added both Bitcoin and Ethereum to its balance sheet, while Elon Musk’s Tesla said the value of its Bitcoin holdings had grown to more than $2 billion. Bitcoin price however dipped to lows of $41,741 on Feb. 12 after two seemingly failed attempts above the $45k level in the week.
In the coming weeks, speculations might continue to rise as markets remain bothered about inflation. Following higher than expected CPI stats, markets began to speculate that an interest rate hike by the Federal Reserve could come before the Fed’s next meeting, slated for Mar. 16.
Markets will also be paying close attention in the coming weeks to the situation at the Ukraine/Russia border as the US and NATO prepare for an imminent invasion. Presently the Crypto Fear and Greed Index remains in ”fear” suggesting that traders are fearful.
Steven Cooper, the owner of Bigger Entertainment and creator of crypto burner campaigns recently took to Twitter that it will be conducting one of the largest SHIB burns in the coming week.
The CEO says ”Almost 259 BILLION shib coins have been added to the dead wallet by the community as a whole. Next week we’ll burn over a BILLION more between all the burn initiatives going on. Don’t let anyone tell you you’re not doing great things here”.
Bigger Entertainment is giving a scheduled SHIB burn party on Feb. 14 live on their YouTube channel. The burning of tokens is expected to boost SHIB’s price in the long run.
Defense lawyer, James K. Filan shares the latest update on the Ripple Case saying SEC’s motion for an extension is granted. “The SEC shall file its response to Defendants’ letter motion on February 24, 2022. At that time, the SEC is further ORDERED to email to chambers the challenged “Estabrook Notes” for in-camera review.”
In the last update provided by James K. Filan, SEC had filed a motion for extension of time until Feb. 24 to respond to Ripple’s motion to compel turnover of notes from the 2018 meeting between Brad Garlinghouse and Commissioner Elad Roisman.
Earlier, Ripple filed a motion to compel the SEC to turn over notes from the meeting between the Ripple boss and the former SEC commissioner. The SEC, on the other hand, filed an objection to the motion, claiming deliberative process privilege (DPP).
IOHK, Cardano‘s parent company has announced the beginning of an update proposal process to increase the per-block memory units limit for Plutus scripts on the Cardano mainnet. As part of its series of planned adjustments & optimizations intended to scale Cardano, IOHK says that the per-block Plutus memory units limit will be increased from 50 million to 56 million at the epoch boundary on Feb. 14.
An earlier parameter update increased the Plutus memory limit per transaction to 14 million. IOHK notes that Increasing the per-block memory limit will allow developers to utilize the full value of that last change, allowing developers to run up to 4 Plutus scripts per block.
Plutus is the Smart Contract platform of the Cardano blockchain that allows scripting applications to interact with the Cardano blockchain.
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