Crypto optimism runs high
What's being bought and sold*
TOP TRENDING ASSETS
*Trading activity in the past 24 hours on the Uphold platform, as of 8 a.m. 20th December 2023.
The combined total of buy and sell percentages can exceed 100% due to customers who engage in both buying and selling the same asset within the 24-hour time frame.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
What’s up
Bitcoin Stays Flat; Spot ETF Optimism Spikes
Bitcoin held steady near $43K overnight, not moving much. Optimism about spot ETF products keeps increasing.
This time there are newly revealed details about a meeting that BlackRock held with SEC officials, marking now at least two dozen total meetings to have been held between regulators and firms that filed spot BTC ETF applications (BeInCrypto).
Said a Santiment analyst: “Following yesterday’s news of Blackrock’s revised ETF proposal, which now includes the addition of cash redemption, trader optimism has jumped."
BTC’s volume has aligned with levels seen in October when this latest bullish chapter began.
What's down
‘Completely Useless’ Coin Makes A Squawk
A hen-themed memecoin has become the latest emblem of the world of crypto at its wildest and wackiest.
Issued a couple of weeks ago, Avalanche-run Coq Inu (COQ) has soared to a $230 million market capitalization. It's CoinGecko's 201st-largest digital asset.
COQ's all-time high of $0.00000398 came last evening.
According to CoinDesk, citing Lookonchain, one speculator apparently swapped some AVAX for $450 worth of COQ shortly after it began trading; that stash has since ballooned to more than $2.5 million.
“The coin is completely useless and for entertainment purposes only,” Coq Inu's own website says.
As of 7:40 a.m. (EST), COQ was $0.00000398, down 8.8% from its ATH.
What's next
Interest In Solana Is Spiking
Owing to the surge of crypto in general as well as renewed interest in memecoins, Solana finds itself increasingly sought after.
Up 17% in the past week, SOL, sixth-largest coin, has seen its market capitalization reach near $33 billion, which would put on par with No. 5 XRP.
Interest is at a peak. Google searches for “Solana” increased 250% between October and December, coinciding with the asset's scorching performance.
According to The Block, Solana's price rallied 224% between Oct. 11 and Dec. 18.
Major players in the crypto industry have also highlighted Solana's strong performance, such as ARK Invest CEO Cathie Wood, who has been touting Solana as faster and cheaper compared to Ethereum.
It costs less than one penny and takes mere seconds for a Solana transaction, versus Ethereum where transactions can cost at least $15 dollars and take up to a minute, CoinDesk said.
