\t\t\t\t\t![\"\"](\"https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2023\/01\/web-4687387_1920-1200x600.jpg\" "\\"CNF")
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- \u00a0ShimmerNet\u2019s lead contributor Dominik Schiener shared a few updates noting that the team has been \u201cimproving, testing, and making sure\u201d the ShimmerEVM is ready.<\/strong><\/li>\n
- Ripple remains convinced that it will\u00a0beat the SEC\u00a0with over 3,000 Amicus Briefs showing the usage of XRP is limited to payment utility.<\/strong><\/li>\n<\/ul>\n
\nOur data <\/a>shows that investors have taken a step back with a majority of cryptocurrencies\u2019 prices stagnating. Bitcoin which is the trendsetter has failed to break the $23,000 resistance level triggering speculation that it will retract and test recent supports. Despite prices stalling, network development and technological developments are still ongoing painting a bullish picture for a number of projects.<\/p>\n
In this week\u2019s CNF brief, we take a look at some of the most intriguing developments.<\/p>\n
Massive cash for Bitcoin price uptrends comes from US institutions<\/h3>\n
![\"\"](\"https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2023\/01\/bitcoin-2902690_1920-300x211.jpg\")
A report early this week revealed that institutional investors play a key role in Bitcoin price uptrends. Although a majority of mainstream institutions are wary of cryptocurrencies, firms like MicroStrategy Incorporated, Block Inc, and Paypal Holdings Inc are notably heavily invested in cryptocurrency. Matrixport\u2019s head of research and strategy, Markus Thielen confirmed that the bulk of the buying momentum that is pushing the price of Bitcoin upward is being fueled by the hoard of institutional investors pumping cash into the industry.<\/p>\nAs these investors increase, it\u2019s expected that prices will continue to rise. Additionally, regulators will be under massive pressure to introduce clear regulations that could further increase adoption. It\u2019s further intriguing as recent data shows the Bitcoin Network processed more transaction value than Visa and Mastercard last year and is expected to surpass this in 2023\u2026Read More<\/a><\/p>\n
XRP price \u2018in the thousands\u2019 after Ripple vs. SEC case is settled<\/h3>\n
Speculation continues to grow around the XRP price. Earlier this month, Ripple CEO Brad Garlinghouse revealed that he expects the Ripple vs. SEC case will be settled in the first half of the year. With Ripple pegged to win, investors and analysts expect prices to rally. This especially after the advances in the XRPLedger from the last two years and the growth of the ecosystem will add to XRP price growth. Furthermore, some of the leading crypto exchanges that previously delisted XRP on their platform will rush to relist the digital asset.<\/p>\n
![\"Ripple](\"https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2019\/06\/Travis-Wolfe-Ripple-300x200.jpg\")
<\/p>\nSource: Travis Wolfe<\/p>\n<\/div>\n
However, Brad Garlinghouse-led company is treading on a very cautious path as any form of settlement without legally defining the status of the XRP coin can stir up another lawsuit sometime in the future\u2026 Read More<\/a><\/p>\n
At the time of press, XRP is exchanging for $0.4109. The digital asset has been trading sideways for the last 7 days. With a record of $3.84 as the all-time high reached 5 years ago, the token is still a long way from its ATH.<\/p>\n
Developers confirm billions of SHIB will be burned with Shibarium<\/h3>\n
Amid the tanking SHIB burn rate, lead developer Shytoshi Kusama assures an uptick in burn rate with the Shibarium release. The eagerly awaited \u00a0Layer-2 scalability network is set to launch soon and will offer a major boost to the SHIB token. Shytoshi Kusama recently confirmed on discord that trillions of SHIB coins will be burnt with the release of the Layer 2 platform Shibarium.<\/p>\n
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As per the MVRV-Z score\u00a0indicator<\/a>, the SHIB price is largely undervalued even now and holds the potential to rally another 75 percent two months from now\u2026Read More<\/a><\/p>\n
Samsung taps VeChain for intelligent ship data application<\/b><\/h3>\n
VeChain has continued to garner traction and receive major recognition. In the latest development, Samsung has tapped the leading blockchain for the deployment of its intelligent ship data application. With support from the World-leading certification authority DNV, Samsung Heavy Industries, the first Korean shipbuilding firm to take this step, has successfully deployed its \u201cIntelligent Ship Network Security Application \u201d on the Vechain network.<\/p>\n
In order to reduce the chances of information alteration when data is shared with ships and other off-shore tools on the recovering end, VeChain serves as a security solution for shipping companies, shipyards, and other bodies involved\u2026Read More<\/a><\/p>\n
ShimmerEVM finally launching as $MIOTA remains top 10 crypto for most active developer ecosystems<\/h3>\n
![\"\"](\"https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2023\/01\/IOTA_Shimmer_5-300x169.jpg\")
IOTA and its staging network Shimmer also made headlines during the week for various developments. For starters, ShimmerNet\u2019s lead contributor noted that while close, they are not rushing to launch the ShimmerEVM citing the risks of the network going down.\u00a0 Since the launch of the Shimmer network last year, the team has been working on the launch of the ShimmerEVM chain which is compatible with the Ethereum Virtual Machine (EVM).<\/p>\nThe team at ShimmerEVM had been testing several UX improvements which include incorporating convenience functions such as using Shimmer to pay gas directly for L1-L2 transfers.This revelation follows a report that showed that IOTA is among the top 10 most active developer ecosystems. With Shimmer, IOTA could climb even higher as more developers join the ecosystem\u2026Read More<\/a><\/p>\n
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Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.<\/p>\n
- Ripple remains convinced that it will\u00a0beat the SEC\u00a0with over 3,000 Amicus Briefs showing the usage of XRP is limited to payment utility.<\/strong><\/li>\n<\/ul>\n
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