Bitcoin Returns To $1 Trillion Asset; SHIB Price Soars 300% In 9 Days

Bitcoin (BTC) climbed beyond $55,000 this week, reclaiming its status as a $1 trillion asset. The loss inflicted by China's mining ban in May looks to have been erased, implying that new all-time highs could be reached in the next weeks or months. BTC is currently valued $54,900, which is 14.9 percent less than its all-time high.

CoinSwitch Kuber, an Indian crypto exchange, secured a $260 million Series C investment round this week, valuing itself at $1.91 billion and joining the famous unicorn club.

Investors are impatiently awaiting the approval of a futures-backed bitcoin ETF in the United States. More retail and institutional investors would be able to participate in cryptocurrencies if they were offered as an ETF. As proof of this optimism, several analysts refer to the widening gap between BTC futures and spot prices.

Shiba Inu's market capitalization soared to $11.08 billion earlier this week and is now above $10 billion, putting it in the top 20 by market capitalization for the first time. As a result, the parody cryptocurrency inspired by Dogecoin has outperformed major blockchain projects such as Stellar (XLM), Polygon (MATIC), and Tron (TRX).

The implementation of the eNaira central bank digital money has been permitted by the Nigerian Federal High Court (CBDC).

On Oct. 1, the CBDC was released for beta testing as part of the country's 61st Independence Day celebrations, and it has now been approved for circulation alongside its fiat counterpart. The CBDC is marketed as a transactional solution that is faster, cheaper, and more secure. An eNaira wallet will also be available.