Weekend Crypto Highlights: Bitcoin Whales, Ripple's Legal Insights, Shiba Inu Forecast

Bitcoin Whales Expand Holdings

Bitcoin whales have significantly increased their holdings, adding approximately $3 billion or 76,000 BTC since the start of 2024. This surge highlights the confidence and strategic investments of major players within the cryptocurrency space. While smaller Bitcoin holders showed varied changes, with some decreases noted, accounts holding between 10K-100K BTC experienced a 2.88% growth. This trend suggests a concentration of wealth towards larger investors, indicating their influence in the market.

Ripple's Legal Insights and SEC Case

A recent discussion between Coinbase's CLO and a pro-XRP lawyer has brought attention to a critical legal aspect of Ripple's ongoing dispute with the SEC. The focus was on a 1994 case, Revak v. SEC Realty, emphasizing the importance of the Howey test in defining investment contracts. The court's ruling highlighted that a common enterprise must rely on promoter expertise, reinforcing the complexity of Ripple's legal challenges. This case also finds relevance in similar legal battles involving LBRY and Coinbase, suggesting broader implications for the crypto industry.

Shiba Inu's Prospective Gains

As the crypto community looks forward to February, Shiba Inu investors anticipate potential double-digit gains. Despite a 13% decline in January, historical trends suggest promising prospects for SHIB. The token recorded a 20.3% surge in February 2022 and a positive growth of 1.6% the following year. With a historical median return rate exceeding 10.9% for February, SHIB investors remain hopeful for favorable market developments, despite current market fluctuations. At present, SHIB is trading at $0.000009029, reflecting a slight decrease.