The crypto market has been on a wild ride this week, with Bitcoin (BTC) and Ethereum (ETH) trading with immense volatility. Despite the U.S. Producer Price Index (PPI) data hinting at a cooler inflation rate, the crypto market has been sluggish. Bitcoin ETFs saw outflows after consistent inflows, and Microstrategy's Michael Saylor announced $700 million in senior convertible notes offerings to bag more Bitcoin.

Meanwhile, XRP and Terra Luna Classic have been making waves with their cryptographic developments. Ripple collaborated with Archax to enhance XRP Ledger's real-world assets (RWA) tokenization, and introduced the XRPL EVM Sidechain for Ethereum Virtual Machine (EVM) compatibility. XRP Healthcare appointed Whitney Lynn as its new chairman, while the SEC claimed that Ripple's arguments on penalties and injunction are inadequate, posing the XRP price at risk.

Terra Luna Classic's community passed a proposal to disburse 256 million LUNC for work done by developers on the ecosystem, and started voting for a proposal to implement a revised LUNC burn tax distribution. Additionally, Terra Luna Classic proposed implementing the Tax2Gas proposal, eliminating the need to separate tax calculations.

Overall, the crypto market has been a rollercoaster ride this week, with Bitcoin and Ethereum trading with immense volatility, and XRP and Terra Luna Classic making significant advancements.