Massive Bitcoin (BTC) Volatility, ripple (XRP) Turning Point, Resurgence of solana Meme Coins: Bits Rec
TL;DR
- Bitcoin’s price fluctuated sharply from $45,000 to $49,000, influenced by mixed signals from the US SEC regarding BTC ETF approvals.
- Ripple‘s XRP has witnessed a growth in user wallets, reflecting increased network interest and activity.
- Solana-based meme coins including Dogwifhat (WIF) and Myro (MYRO) experienced significant price increases, with WIF gaining 4,800% in one month.
Bitcoin price has been on a roller-coaster ride over the past few days, impacted by the historic approval of multiple spot BTC ETFs in the United States.
The US Securities and Exchange Commission (SEC) green-lighted applications from BlackRock, Valkyrie, VanEck, Fidelity, Franklin Templeton and other financial giants on January 10. Shortly thereafter, the link containing the announcement was removed from the SEC website, resulting in confusion and BTC’s decline reached as low as $45,000. When the information was republished on the SEC website, the price of the asset rose to approximately $46 thousand.
Bitcoin experienced an even bigger surge yesterday (January 11). Like CryptoPotato reportedIt rose to $49,000 (a price last seen in early 2022) as ETFs included billions of dollars in cumulative volume.
The impressive rally was short-lived and Bitcoin fell From $3k to under $46k. The total value of liquidated positions rose to over $300 million on a 24-hour scale, hurting overleveraged investors. The value of the asset is currently hovering around $45,600 (according to CoinGecko data).
Those wondering whether BTC will reach its all-time high this year can check out our exclusive video below:
What’s New in Ripple (XRP)?
Ripple’s XRP recently has reached An important milestone as the number of XRP wallets exceeds 5 million. This success comes after a significant upward trend throughout 2023. At the beginning of last year, this figure was around 4 million.
The increase in XRP wallets could indicate increased interest and participation in the Ripple network, which could lead to greater investor confidence.
On-chain metrics are also solid with the number of XRP transactions conducted recently (per day). to want It has been above the 4 million range since the beginning of 2024.
Solana Meme Coins Under the Spotlight
Solana meme coins made a splash after dogwifhat (WIF) and Myro (MYRO) recorded significant gains. The former has skyrocketed 115% in the last seven days and is up a staggering 4,800% on a monthly basis. A few hours ago, it broke the $0.30 mark after Bybit. listing but later dropped to its current level of $0.23.
WIF Price, Source: CoinGecko
If MYRO climbed It reached an all-time high of $0.12, and its market value exceeded $100 million.
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