Massive Bitcoin (BTC) Volatility, solana (SOL) Meme Coin Resurgence, Shiba Inu (SHIB) Develo
TL;DR
- Bitcoin experienced a significant price increase above $47,500, driven by a tweet from the US SEC about a spot BTC ETF that turned out to be fake.
- Solana-based meme coins bonk Inu (BONK) and dogwifhat (WIF) showed notable market movements, with BONK’s market cap briefly exceeding $1 billion and WIF experiencing a significant price increase.
- shiba inu, a well-known meme coin, has seen a dramatic increase in burn rate and reached milestones with significant increases in total transactions and blocks on layer-2 blockchain solution Shibarium.
The primary cryptocurrency made headlines a few hours ago as its price surged above $47,500 for the first time since the beginning of 2022 (according to CoinGecko data). This follows an X (Twitter) post from the US Securities and Exchange Commission (SEC). showing He said the regulator has approved the launch of spot BTC ETF.
But the value of the asset plummeted after the agency’s President, Gary Gensler. clarified He added that the green light was not given to list and trade products traded on the spot Bitcoin exchange and that account X was seized.
Currently BTC is trading at around $45,600 and the rollercoaster is triggering multi-million liquidations.
Meanwhile, eventual approval of a spot BTC ETF in America remains an option, and some to wait To see the product live in the coming days.
BONK Revival and WIF Volatility
Popular Solana-based meme coins Bonk Inu (BONK) and dogwifhat (WIF) have also been in the spotlight over the past few days. The first one followed the uptrend of SOL with its value rising on about January 9th.
Today (January 10) it continued its solid pace, posting gains of 12% in the last 24 hours, and its market capitalization briefly surpassed $1 billion.
BONK Market Cap, Source: CoinGecko
WIF, on the other hand, exploded by almost 90% on January 9, reaching $0.15. Although it has retreated slightly to its current level of $0.13, the price of the token is still up 12% on a weekly basis.
Shiba Inu’s Latest Success
Shiba Inu (SHIB) chainsaw On January 9, the burn rate increased by almost 1000%, resulting in more than 33 million assets being removed from circulation. statistics today (January 10) is even more impressive: a 27,500% increase in burn rate and the destruction of more than 9 billion tokens.
It is also worth mentioning the advancement of Shiba Inu’s layer-2 blockchain solution, Shibarium. The network, which officially saw the light of day in August last year, has surpassed numerous milestones. For example total transactions in Shibarium exceeded While it was 250 million, the total number of blocks increased to over 2.5 million.
Those who want to learn more about this feature and understand its main purposes and features can check out our special video below:
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