Ripple Leads With 11% Gains, Bitcoin Struggles With $27K, Injective (INJ) Explodes: This Week’s Recap

The past seven days have seen an increase in the cryptocurrency market, but nothing particularly significant. Bitcoin remained somewhat stagnant and managed to increase by just over one percent. However, there were those who exploded and led the market recovery. It is XRP. Let’s dig deeper.

Starting with BTC price – it hasn’t been very impressive over the past week. In fact, the underlying cryptocurrency booked a gain of just over one percent and is currently unable to convincingly claim the $27,000 level. The week saw some volatility as BTC surged above $28k, but the buyers were unable to sustain the pressure, and the sellers eventually took over, pushing the price back to where it is currently trading.

But with Ripple’s XRP – it was a different story. The cryptocurrency has exploded by more than 11% in the past seven days. It appears that investors are beginning to price in a possible victory for Ripple in the case against the Securities and Exchange Commission.

But that wasn’t even the most impressive performance of the week.

Injective (INJ) is the best performer this week. It’s up 25% in a somewhat uncertain market. The altcoin was one of the best performers of the year.

Elsewhere, the week was also important for the stablecoin. USDC launched on Arbitrum, while Tether announced that it will launch a sustainable bitcoin mining operation in the country of Uruguay.

In an interesting bit, we also pitted two of the most popular AI-based chatbots – ChatGPT and Google’s Bard – against each other. We both asked if Ethereum would flip Bitcoin, and their answers were quite amusing.

It should also be noted that another cryptocurrency heavyweight is considering expanding outside of the United States. Gemini considers the UAE a new destination because the regulatory environment in the US is not getting any better.

Overall, it was a relatively productive week in terms of price developments, and the market seems to be emerging from its recent slumber. However, it is important to see how the next few weeks play out and whether the positive sentiment continues to grow.

Market data

Market value: $1182 billion | 24 Hours Volume: $36 billion | Bitcoin Dominance: 44.1%

BTC: $26,922 (+1.2%) | Ethereum: $1,881 (+3%) | BNB: $304 (-0.6%)

What will happen to Bitcoin if the US debt ceiling cracks (Opinion). Despite the fact that an initial deal was struck, issues surrounding US debt continue to be a growing concern among investors. Here’s an idea of ​​what could happen to BTC if the debt ceiling breaks.

Tether to launch sustainable bitcoin mining operations in Uruguay. Tether, the largest stablecoin issuer – USDT, will launch sustainable mining operations for bitcoin in the country of Uruguay. The company announced this on May 30.

USDC Stablecoin will be originally launched on a Layer 2 scaling solution. USDC stablecoins will be launched natively on Arbitrum. The latter is a Layer 2 scaling solution for Ethereum. The stablecoin will be considered the official USDC version of the Arbitrum ecosystem.

Gemini Expands In UAE Amidst Uncertainty In The US, Crypto.com Acquires MPI License In Singapore. Gemini is also considering expanding outside the United States. In particular, the platform is looking at the United Arab Emirates. The reason appears to be the growing regulatory burden and uncertainty in the United States.

Bitcoin mining difficulty exceeds 50T for the first time. Bitcoin mining difficulty has reached an all-time high. The most recent difficulty adjustment occurred on May 31st and added 3.4% to the total mining difficulty.

Will you flip Ethereum Bitcoin? We pit ChatGPT and Google Bard against each other. In an interesting discussion, we pit two of the most popular AI systems against each other. Here’s what ChatGPT and Google Bard think about whether Ethereum will flip Bitcoin.

Graphs

This week we have chart analysis for Ethereum, Ripple, Cardano, Binance Coin and Litecoin – click here for full price analysis.