Ripple vs. SEC Lawsuit Advances, Shiba Inu Sparks Optimism Across Crypto Market

The crypto universe has closed another week with remarkable developments unfolding across the broader sector. While Ripple vs. the U.S. SEC lawsuit saw new advancements, Shiba Inu gained significant attention due to ecosystem developments.

CoinGape Media highlighted several key cryptocurrency market updates over the past week.

In the Ripple vs. SEC lawsuit, the Second Circuit Court of Appeals set a deadline of January 15, 2025 for the SEC's opening brief on appeals. Ripple executives also hired prominent attorneys to dismiss the claims in the XRP lawsuit. The U.S. court ordered Ripple Labs to consider an alternative resolution before concluding the lawsuit proceedings.

On-chain movements sparked investors' attention, with Ripple unlocking nearly 900 million XRP from escrow this week. The buzz around an XRP ETF also fueled market enthusiasm, as Ripple CEO Brad Garlinghouse expressed optimism on an ETF with Bitwise Invest, Canary Capital, and 21Shares filing S-1 forms.

Shiba Inu garnered significant attention due to ecosystem developments, as reported by CoinGape Media. The SHIB Burn Tracker reported that over 410 trillion SHIB had been burned since its launch. Shiba Inu developers also announced plans to launch a decentralized exchange (DEX) named ShibaSwap 2.0, aiming to enhance liquidity and trading capabilities.

Moreover, as the U.S. elections approached, the cryptocurrency market appeared to be echoing a frenzy, according to market observers. This observation aligns with the recent渤海商品交易所surge in institutional interest in digital assets, as highlighted by several reports.

These updates collectively provided a snapshot of the broader crypto market's performance and key developments during the past week.

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