The year 2023 was a significant one for the cryptocurrency industry, witnessing tremendous growth as the total market capitalization of all tokens more than doubled from $850 billion to over $1.7 trillion. While cryptocurrencies like Bitcoin (BTC) experienced substantial gains, not all tokens followed suit.  Shiba Inu (SHIB), a meme token that garnered attention in 2021, saw a comparatively modest 30% return in 2023. With SHIB still 88% below its all-time high, investors wonder if 2024 holds the potential for it to reach $1. However, the reality might be far from expectations.

The Enormous Supply Challenge

One of the primary obstacles standing in the way of Shiba Inu’s historic rise is its enormous supply. Currently, there are more than 589.3 trillion SHIB tokens in circulation, with each token priced at $0.0000107. This gives Shiba Inu a market capitalization of $6.3 billion. To put it into perspective, if SHIB were to reach $1 per token, its market cap would need to soar to an astronomical $589.3 trillion.For context, the total wealth of every person on Earth was estimated to be $454 trillion at the end of 2022, according to Credit Suisse. In other words, for SHIB to reach $1, its market cap would need to surpass the combined wealth of the entire global population.

Community Efforts to Burn Tokens

To address the challenge posed by its immense supply, the Shiba Inu community has been actively working to reduce the token supply through a process known as “burning.” This involves permanently removing tokens from circulation, making them inaccessible for future use. Token holders can contribute to this effort by sending tokens to a “dead wallet” or participating in various initiatives like streaming a specific music playlist or using the Shiba Search internet search engine. The proceeds from these activities are then directed towards reducing the token supply.

Can Enough Tokens Be Burned in 2024?

The community faces a daunting task if SHIB is to reach $1 in 2024 based on its current market cap. To achieve this, approximately 99.99998% of all SHIB tokens would need to be burned, leaving just 6.3 billion tokens in circulation.Over the past 30 days, the community has burned approximately 34.2 billion tokens. While this is a significant effort, it falls far short of the amount needed to reach the $1 target this year. At the current pace, it would take over 1,437 years to burn all the necessary tokens. In other words, SHIB reaching $1 is a distant dream, projected to materialise in the year 3461.

The Myth of Gaining Wealth Through Burning

Even if one were to live long enough to witness this unlikely scenario, there’s another important point to consider. Burning tokens does not increase the value of Shiba Inu; it simply reduces the supply and, in turn, increases the token’s price by an equivalent amount. In the year 3461, you would have 99.99998% fewer tokens, but they would be worth $1 each, meaning your net position in dollars would remain unchanged.While the idea of SHIB reaching $1 is improbable, there are alternative tokens in the cryptocurrency market with promising potential for significant gains. One such token is Retik Finance (RETIK), which experts predict could experience substantial growth when it launches in Q3 2024.

A More Realistic Alternative: Retik Finance (RETIK)

Retik Finance: Bridging the Gap

Retik Finance aims to revolutionise the global financial landscape through innovative DeFi solutions. With a vision to decentralise the banking sector, Retik Finance offers a comprehensive ecosystem designed to empower individuals and businesses worldwide. Key components of this ecosystem include the Retik Wallet, DeFi Debit Cards, and Retik Pay, providing a seamless fusion of digital and traditional finance. The $RETIK token serves as the backbone of the ecosystem, promoting financial autonomy, governance, and user engagement.By embracing decentralised technologies, Retik Finance addresses the limitations of traditional banking systems, offering enhanced security, accessibility, and privacy while facilitating cross-border transactions. This abstract highlights Retik Finance’s pivotal role in reshaping the future of global finance, fostering a more inclusive, transparent, and efficient financial landscape for the years ahead.

Conclusion

While Shiba Inu’s quest to reach $1 in 2024 appears implausible due to its massive supply and the slow pace of token burning, the cryptocurrency market continues to offer opportunities for investors seeking substantial gains. Tokens like Retik Finance (RETIK) hold promise, with experts predicting significant growth upon its launch in Q3 2024. As cryptocurrencies reshape the financial landscape, innovative projects like Retik Finance are poised to play a pivotal role in creating a more accessible, transparent, and equitable global economy, bridging the divide between traditional and digital finance. Investors should keep an eye on such projects as they navigate the ever-evolving cryptocurrency market.

Click Here To Take Part In Retik Finance Presale

Visit the links below for more information about Retik Finance (RETIK):

Website: https://retik.com

Whitepaper: https://retik.com/retik-whitepaper.pdf

Linktree: https://linktr.ee/retikfinance

Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this article does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this article.

Binance crypto exchange has announced plans to support another new altcoin, AltLayer (ALT), via its Launchpool platform.

Binance Launchpool platform, which lets users stake coins to farm new assets, stated that its 45th project will be AltLayer (ALT), an open and decentralized protocol for Ethereum (ETH) rollups.

See Also: Binance vs. SEC Case Is Tomorrow: Here Is What To Know

Rollups are solutions that execute transactions outside of Ethereum’s blockchain but record the transactional data. 

They’re designed to help with scaling by reducing transaction costs and congestion on the main Ethereum chain.

Between January 19th and the 25th, Binance users can stake BNB as well as the stablecoin First Digital USD (FDUSD) into separate pools to farm ALT tokens. Binance plans to list ALT on January 25th.

Binance says it will attach a seed tag to ALT, which the exchange applies to lower-liquidity projects that may exhibit higher volatility compared to other listed tokens. 

Binance requires users who own assets with seed tags to pass quizzes every 90 days to ensure they’re aware of the risks before trading the tokens.

See Also: Binance Experiences Growth, Recorded Over $4 Billion Inflow After US Fine Settlement

AltLayer aims to make it easier for developers to design custom rollups. According to the project, 

“With AltLayer, we bring together a novel idea of Restaked Rollups which takes existing rollups (spun from any rollup stack such as OP Stack, Arbitrum Orbit, ZKStack, Polygon CDK, etc.) and provides them with enhanced security, decentralization, interoperability, and crypto-economic fast finality. Restaked rollups combine the ease of spinning up rollups using rollup stacks and others with the power of EigenLayer’s restaking mechanism to bootstrap network security and build a decentralized network.”

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

The post Binance To Roll Out Support For AltLayer (ALT) On Launchpool Platform appeared first on BitcoinWorld.

In a groundbreaking move, Binance, the global leader in cryptocurrency exchange, has revealed its 44th project on Binance Launchpool—Manta (MANTA), an avant-garde modular Layer 2 (L2) solution crafted specifically for ZK applications. The highly anticipated official webpage for MANTA is poised to illuminate screens in just 5 hours, heralding the imminent launch of this revolutionary project.

Staking Opportunities for Early Adopters
Starting from January 16, 2024, at 00:00 (UTC), crypto enthusiasts can seize a unique opportunity to stake their BNB and FDUSD in dedicated pools and delve into the exciting world of MANTA token farming.
Listing Date and Trading Extravaganza
Following the conclusion of the farming period, MANTA is set to make its grand entrance into the crypto market on January 18, 2024, at 10:00 (UTC). The trading pairs will include MANTA/BTC, MANTA/USDT, MANTA/BNB, MANTA/FDUSD, and MANTA/TRY, with the exclusive Seed Tag reserved for MANTA.
For users who have previously received MA tokens on the platform, an automatic eligibility awaits them, translating into MANTA tokens at a generous 1:1 ratio.
MANTA Launchpool Unveiled: Key Highlights
- Token Name: Manta (MANTA)
- Maximum Token Supply: 1,000,000,000 MANTA
- Launchpool Token Rewards: 30,000,000 MANTA (3% of the maximum supply)
- Initial Circulating Supply: 251,000,000 MANTA (25.1% of the maximum supply)
Staking Reinvented with KYC Verification
To partake in this transformative journey, users are required to undergo KYC verification. The hourly hard cap for users is thoughtfully set at 50,000 MANTA in the BNB pool and 12,500 MANTA in the FDUSD pool, ensuring fair participation.
Support Pools and Lucrative Rewards Await
Discover the allure of staking through two robust pools:
- Stake BNB (webpage launching in 5 hours): Unleash the potential with 24,000,000 MANTA in rewards (80%).
- Stake FDUSD (webpage launching in 5 hours): Dive into another realm with 6,000,000 MANTA in rewards (20%).
Farming Schedule: Mark Your Calendars
From January 16, 2024, at 00:00 (UTC) to January 17, 2024, at 23:59 (UTC), the farming extravaganza awaits. Daily rewards for the BNB and FDUSD pools are set at an enticing 12,000,000 MANTA and 3,000,000 MANTA, respectively.
The introduction of MANTA on Binance Launchpool signifies a monumental leap in decentralized finance and the embrace of cutting-edge Layer 2 solutions. The official launch and subsequent listing of MANTA on Binance promise to be moments that will shape the future of cryptocurrency. Stay tuned for the unfolding of this extraordinary chapter in the crypto saga.

#TrendingTopic #MANTA #Launchpool

The cryptocurrency space witnessed a momentous week, highlighted by the historic launch of the first-ever Bitcoin exchange-traded fund (ETF) in the United States. This development is expected to have a generally bullish impact on the sector. 
Following this product launch, the overall market experienced short-term price fluctuations primarily led by Bitcoin (BTC). While Bitcoin captures the spotlight, other undervalued cryptocurrencies are worth considering for investment in the upcoming week. 
In this context, Finbold has identified three cryptocurrencies valued below $1 that present potential buying opportunities for the next week.
Polygon (MATIC)
Polygon (MATIC) has had a good start to 2024, with the crypto mainly trading in the green zone. Notably, the token rallied recently, coinciding with news around Bitcoin ETF and growth in onchain metrics. 
Notably, December 2023 was a key month for Polygon as its zkEVM network activity increased. Daily active addresses on Polygon’s zkEVM had grown by 202%. Daily transactions also increased by 130%, indicating a growing interest in Polygon’s zkEVM. The token reclaimed the $1 in the same month but corrected afterward. 
In 2024, Polygon remains in the spotlight, securing significant partnerships. One notable collaboration is with Fox Corporation, where Polygon is utilized in the Verify program to authenticate news content accuracy. Publishers can register their content on the Polygon blockchain, enabling users to verify accurate and legitimate sources through this tool.
At the same time, on January 9, Polygon co-founder Sandeep Nailwal revealed that Polygon POS reached a higher trading volume than Ethereum by approximately $93,000.
Regarding price movement, MATIC is targeting the $1 mark. By press time, the token was trading at $0.87 with daily losses of about 5%. On the weekly chart, the token is also up over 5%.

Cardano (ADA)
Cardano (ADA) has often been considered a potential Ethereum (ETH) killer, addressing some of ETH’s shortcomings. Notably, ADA’s growth prospects depend on the overall market trajectory and the development of its sustained network.
A growing user base also supports the platform’s potential. For instance, on January 8, Santiment reported a 38% surge in ADA wallets holding more than zero coins in the past year, totaling 4.5 million wallets. This growth outpaces other notable cryptocurrencies, with a 26% increase for XRP, 22% for DOGE, and 32% for Bitcoin in wallet numbers.

Simultaneously, Cardano’s total value locked in the past year surged to $375.64 million, reflecting a remarkable year-over-year growth of over 450%.
Regarding price movement, crypto analyst Crypto ZX observed positive trends in ADA, identifying potential accumulation opportunities. The upcoming Bitcoin halving and institutional preparations are cited as factors with potential positive effects on ADA. 
Concerning ADA’s historical cycles, Crypto ZX emphasized the significance of the 78.6 Fibonacci Retracement level, suggesting a possible consolidation period before significant price movements and advising patience.
By press time, ADA was valued at $0.55, experiencing daily losses of about 5%, while the token has rallied by almost 6% in the last seven days.

XRP 
The value of XRP has been unable to break past key resistance, extending the consolidation phase that has characterized the token in recent months. Despite partial legal clarity declaring it not a security, XRP’s next price target remains the $1 mark.
However, the ongoing Securities Exchange Commission (SEC) case still influences the token’s prospects, which is considered pivotal in its price trajectory. In the latest update on January 11, the SEC sought to compel Ripple to provide financial documents and information related to its XRP sales, framing this action as crucial for determining necessary remedies.
Amidst this, XRP lost the $0.60 support zone following news of Ripple’s plan to buy back $285 million worth of XRP. Although initially sparking a positive reaction, the value has dropped, aligning with overall market sentiments.
Notably, crypto analyst EGRAG CRYPTO on X (formerly Twitter) predicted that XRP could reach an all-time high of $5 within the next 90 days, marking the beginning of an extended bull market expected to span several months. In a previous forecast, the analyst suggested an even more ambitious scenario with XRP’s value potentially jumping to $220.

As of press time, XRP was trading at $0.57, experiencing daily losses of over 3% with weekly gains of 1.5%.

Overall, while the highlighted cryptocurrencies have strong fundamentals, their price trajectory will also be increasingly influenced by overall market sentiments.

The crypto market has been buzzing with the rise of BONK coin, a meme coin that gained significant attention and value towards the end of the previous year. Its surge began with the introduction of single-sided staking and was further amplified by listings on major exchanges like Coinbase and BNB, leading to over 100% increase in its value. Despite a substantial correction where it lost over 70% of its value, BONK has recently rebounded with a 30% surge. Predictions for 2024 indicate bullish trends for BONK, with potential highs and lows reflecting the volatile nature of the crypto market.

In the context of this dynamic market, several other tokens are poised to follow in the footsteps of BONK. Izumi Finance (IZI), Hashflow (HFT), Arbitrum (ARB), Optimism (OP), and Samoyedcoin (SAMO) are among the top tokens that could experience significant growth. Much like BONK, tokens pack distinct traits and a solid backing from their communities, setting the stage for potential growth amid the crypto market's unpredictable swings.

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Izumi Finance (IZI): Embracing Innovation and Expansion

Izumi Finance (IZI) recently made headlines with its successful completion of a million financing round. This significant financial boost is earmarked for the development of iZiSwap Pro, an on-chain Order Book DEX product set to operate on the zkSync Era network. Izumi Finance (IZI) is making a smart play by ramping up its presence in the DeFi scene, thanks to their innovative Liquidity-as-a-Service model that's about to make waves on the zkSync Era network.

The current price range of Izumi Finance (IZI) fluctuates between $0.0088 and $0.0207. The 10-Day Moving Average stands at $0.0152, while the 100-Day Moving Average is at $0.0136. Notably, the support levels are identified at $0.0047, with resistance levels at $0.0285 and $0.0404.

Buoyed by recent investments and strategic advances, Izumi Finance is well-positioned for an upward trajectory. The launch of iZiSwap Pro on the zkSync Era network could enhance its market position. But, while iZiSwap Pro's launch on the zkSync Era network might boost its market game, it has to stay agile and sharp in a cutthroat DeFi world where prices swing wildly. While resistance levels hint at possible gains for Izumi Finance (IZI), the support markers show where its price might find solid ground if the crypto market hits a rough patch.

Hashflow (HFT): Pioneering Cross-Chain Trading

Hashflow (HFT) has been making strides with the launch of Hashflow 2.0, which includes integration with the Solana DEX. Hashflow (HFT) latest upgrade to include Solana DEX signals their strong drive to grow their platform and boost how users interact with it.

Hashflow (HFT) is currently trading within a price range of $0.301 to $0.440. The 10-Day Moving Average is at $0.356, and the 100-Day Moving Average is $0.316. The support levels are found at $0.091 and $0.231, while the resistance levels are at $0.509 and $0.648.

The future of Hashflow (HFT) looks optimistic with the introduction of Hashflow 2.0 and its Solana DEX integration. By integrating with Solana's DEX, Hashflow 2.0 might just reel in a larger crowd and beef up the platform's overall hustle. But the real trick is keeping that growth going when you're up against some tough rivals in the DEX world. Hashflow (HFT) is betting big on its market clout, and while the trading levels show a mix of hope for expansion and signs we might just hold steady for a bit, it's clear there's room to climb.

Arbitrum (ARB): Doubling Down on Market Presence

Arbitrum (ARB) has seen a notable increase in both its Total Value Locked (TVL) and its price, doubling in a month. Arbitrum's (ARB) impressive uptick in both its valuation and funds invested signals a solid vote of confidence from the market.

Arbitrum (ARB) is trading between $1.44 and $2.06. The 10-Day Moving Average is $2.23, and the 100-Day Moving Average is at $1.75. Support levels are identified at $0.53 and $1.15, with resistance levels at $2.40 and $3.02.

With its TVL on the rise, Arbitrum (ARB) is carving out a promising growth path in the thick of Layer 2 competition. The real test for Arbitrum (ARB) lies in keeping up the pace and shining amidst a sea of similar Layer 2 contenders. The ceiling we're seeing hints at potential gains ahead, but the floor also shows us where prices could steady out if things go south.

Optimism (OP): Strategic Moves in Layer 2 Space

Optimism (OP) has been in the news for hiring the head of business development from Polygon, indicating a strategic move to strengthen its team and market position.

Optimism (OP) has a current price range of $2.16 to $4.71. The 10-Day Moving Average is $3.58, with the 100-Day Moving Average at $2.08. Support is found at $0.62, while resistance levels are at $5.71 and $8.25.

Optimism (OP) roadmap looks promising, thanks to savvy new team members and a steady stream of progress. But the real test lies in staying ahead of the curve and keeping their edge in a rapidly changing Layer 2 space. Resistance levels hint at the coin's potential to soar, but we should tread lightly: the support level reminds us that market winds can shift quickly.

Samoyedcoin (SAMO): The Meme Coin Phenomenon

Samoyedcoin (SAMO) has been gaining attention in the cryptocurrency space, as indicated by recent news coverage. This meme coin is gaining a following and is becoming a part of the broader crypto conversation.

Samoyedcoin (SAMO) is trading in the range of $0.0033 to $0.0251. The 10-Day Moving Average is at $0.0135, and the 100-Day Moving Average is $0.0093. Resistance levels are set at $0.0382 and $0.0600.

The future trajectory of Samoyedcoin (SAMO) is challenging to predict due to its nature as a meme coin, which can be highly influenced by social media trends and community sentiment. Trading meme coins like Samoyedcoin (SAMO) is a bit like riding a rollercoaster. Sure, there's the thrill of swift gains if you catch the wave right, but just as quickly, things can take a dive when market sentiment shifts.

Conclusion

In the bustling world of cryptocurrency, a handful of new tokens are on the rise, each aiming to mirror BONK coin's impressive climb. Among these, Izumi Finance (IZI), Hashflow (HFT), Arbitrum (ARB), Optimism (OP), and Samoyedcoin (SAMO) stand out as top contenders. Each token shines in its own right, backed by a strong community that's key to pushing up its worth.

For instance, Izumi Finance (IZI) has made significant strides with its recent funding and the development of iZiSwap Pro. Hashflow (HFT) is broadening its horizons by teaming up with Solana's DEX, and Arbitrum (ARB) is really picking up steam as more folks trust in its potential - just look at the uptick in Total Value Locked. Optimism (OP) is on the move, beefing up its team and aiming for a stronger market foothold, while Samoyedcoin (SAMO), as a cute meme coin, is drawing in more fans by the day. With their strategic strides and enthusiastic communities, they are carving out hopeful niches amid crypto's wild swings.

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

The 43rd project to be added to Binance Launchpool is Xai (XAI), according to Binance, a prominent cryptocurrency exchange.
The first L3 developed on Arbitrum, Xai, makes its debut with this alliance. Users may harvest XAI tokens over four days beginning from 2024-01-05 00:00 (UTC) by staking BNB, FDUSD, and TUSD on the Launchpool.
Xai, what is it?
An new layer-3 blockchain called Xai (XAI) was built on top of Ethereum's layer-2 scaling solution, Arbitrum.
Xai provides customers with faster transaction speeds and reduced costs while relying on the sturdy foundation of Ethereum, ensuring heightened security and dependability.
To facilitate the easy ownership and trading of in-game objects without the need for complicated cryptocurrency wallets, Xai is working to unite the conventional gaming industry with the Web3 environment.
Anyone may run a node, receive rewards, and participate in ecosystem governance on this open and decentralized network.
The XAI Coin and Its Purpose
The Xai network couldn't operate without the XAI token, which allows for several crucial features, including:
Gas Fees: XAI is the currency for all network-based transactions, such as buying and selling virtual goods in games.
Governance: XAI holders have a say in the development of the network via voting on important proposals and decisions.
As a reward, the network gives out XAI tokens to those that run nodes and make contributions.
A Wide-Range Gaming Environment
Xai is a hub for several blockchain-based games, rather than simply a blockchain itself. Xai is associated with many notable titles, including:
The finished product is a strategic card game in which players trade and fight with each other's cards.
Battles in LAMOverse are notoriously chaotic, and players face survival issues on a regular basis.
Controlling and influencing information is the main emphasis of Carnivale, an open-world role-playing game.
Listing and Launchpool Details
Token Name: Xai (XAI)Max Token Supply: 2,500,000,000 XAILaunchpool Token Rewards: 75,000,000 XAI (3% of total token supply)Initial Circulating Supply: 277,118,150 XAI (~11.08% of the total token supply)Smart Contract Details: XAI Token (XAI)
Xai will officially be listed on Binance on 2024-01-09 at 10:00 (UTC), with trading pairs including XAI/BTC, XAI/USDT, XAI/BNB, XAI/FDUSD, XAI/TUSD, and XAI/TRY.
This listing is a significant milestone for Xai, positioning it for increased visibility and adoption within the crypto and gaming communities.
#XAI #Launchpool #binance

Binance, one of the leading cryptocurrency exchanges, has recently introduced its latest project on the Binance Launchpool - $XAI. 

Xai is the arbitrum ecosystem’s first layer3, aims to bridge the gap between traditional gaming and web3 gaming, enabling gamers to own and trade in-game items without the need for complex crypto wallets.
The Xai network is open and decentralized, enabling anyone to operate a node, receive network rewards, and participate in governance.
XAI token
The XAI token is the native utility token of the Xai network, serving various functions.

What are the games on Xai?
Final Form: A strategic card collector game where players trade and battle cards.LAMOverse: A competitive platform featuring chaotic battles and survival challenges.Carnivale: An open-world RPG focusing on information control and influence.Tarochi: An onchain RPG where players journey through a vast world to capture and level-up monsters.Kashi (Coming Soon):

Xai has raised $10MM in three rounds of financing at $0.01, $0.032, and $0.035 per XAI, respectively.
According to the Binance report, as of January 3rd, 2023, the maximum supply of XAI is 2,500,000,000, and the circulating supply upon listing stands at about 277,118,150 (11.08% of the maximum token supply). 

#XAI #XAI_GAMES #Launchpool #Binance

Traders and holders of well-known cryptocurrencies XRP and Solana (SOL) should take note of crucial information shared by leading crypto exchange Binance.

In a recent announcement, Binance revealed its plan to introduce USDC-margined perpetual contracts for BTC, ETH, BNB, SOL, and XRP. The expected launch date for these contracts is set for January 3, following the close of 2023.
#Binance Futures Will Postpone the Launch of USDC-Margined BTC, ETH, BNB, SOL and XRP Perpetual ContractsRead more⤵️. https://t.co/SxUXeoKK2L — Binance Futures (@BinanceFutures) Jan 3, 2024
Binance Postpones USDC-Margined Perpetual Contracts Launch
In response to the recent market volatility, which resulted in significant cryptocurrency price drops, Binance Futures has decided to postpone the launch of USDC-margined perpetual contracts. The new scheduled launch date is now Jan. 4.
Binance explained that the delay in the trading start time for USDC-margined BTC, ETH, BNB, SOL, and XRP perpetual contracts is attributed to market volatility. The aim is to ensure a smooth and enjoyable trading experience for users.
On Jan. 4, Binance plans to kick off the USDC-margined BTC perpetual contract at 12:30 UTC, followed by the launch of USDC-margined perpetual contracts for SOL, XRP, ETH, and BNB every five minutes thereafter. Despite the delay, the crypto industry has started 2024 on a positive note, with Bitcoin approaching the $46,000 price mark.
XRP and Solana have also experienced promising starts to the year, reaching highs of $0.639 and $117, respectively, on Jan. 2.
Bearish Turn for Cryptocurrencies: Bitcoin, XRP, and Solana Face Market Slump
The crypto market witnessed a significant shift as bears exerted pressure, particularly impacting Bitcoin. On Wednesday, Bitcoin experienced a notable drop, erasing almost all the gains it had accumulated in the initial days of the new year. This downturn marked a deviation from its earlier upward trend that had surpassed a broader decline seen in traditional assets worldwide.
The negative sentiment extended to other assets, aligning with Bitcoin’s struggles. Interestingly, this market turbulence coincided with the 15th anniversary of Bitcoin’s first block mining on Jan. 3, 2009.
Specifically, on Wednesday, XRP saw a substantial decline of up to 11%, while Solana’s SOL plummeted nearly 20%. Over the preceding 24 hours, both XRP and Solana experienced declines of 9.63% and 8.93%, settling at $98.65 and $0.578, respectively. The bearish trend has raised concerns and intensified market volatility in the crypto space.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.