BITCOIN IS HOLDING.
Bitcoin (BTC) has shown strong resilience, holding near $58,000 despite a net outflow of over $40 million from investment trusts (ETFs). The potential approval of the Bitcoin ETF in the United States remains a key topic, as it could significantly increase the participation of institutional investors. Additionally, the upcoming Bitcoin halving, scheduled for April 2024, could act as another positive catalyst for its price.
Ethereum (ETH) continues to dominate in terms of cumulative transaction fees, surpassing $2 billion, more than double that of any other protocol. As the Ethereum network remains the primary platform for smart contracts and decentralized applications, this level of fees suggests continued robust use of the network.
Solana (SOL) and Toncoin (TON) are standing out among the alternatives to Ethereum, showing significant movements in the market. These layer 1 networks are gaining popularity due to their scalability and lower costs compared to Ethereum.
