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In the world of trading, where opportunities and risks are constantly fluctuating, traders need to have a great deal of mental discipline and make well-thought-out decisions. However, there is a common phenomenon that may affect many traders, which is known as “revenge trading”, a strategy that can be destructive if not recognized and stopped in time. One of the basic principles of successful trading is for the trader to have a clear plan and good risk management. If the trader has three losing trades in a row, turning off the device and stopping trading for the rest of the day may be the wise decision. However, if the trader continues to trade after these losses, there is a great risk of entering a cycle of “revenge trading”, a behavior that can lead to more destructive losses.

According to Bloomberg, revenue for Bitcoin miners on the blockchain has increased by around 60% to $2.5 billion in the fourth quarter, as fees paid by users minting inscriptions surge. Crypto data analytics firm Coin Metrics reports that this is the highest level of revenue since the first quarter of 2022. Inscription technology is being used to create Bitcoin-based NFTs, which often trade at a fraction of a cent, betting on the resurgent speculative mania gripping the crypto world.

Parker Merritt, a solutions engineer at Coin Metrics in Boston, said that this is a notable departure from past waves of fee-market mania, where record-setting fees were directly linked to record-setting Bitcoin prices. The mining subsidy and transaction fees are two major sources of revenue for miners, who use power-hungry specialized computers to validate transactions on the blockchain. The surge in Bitcoin-based NFTs has caused congestion on the Bitcoin blockchain, pushing users to pay miners higher fees to get their transactions finalized ahead of others.

Transaction fees in the current quarter have reached levels not seen since early 2021, around the time Bitcoin first breached $60,000. Bitcoin miners have earned about $170 million in transaction fees in the form of the digital asset this month, making up 20% of the total mining rewards as of December 18, according to a report by crypto-mining researcher the MinerMag. The miners have made $328 million from the fees so far in the current quarter, Coin Metrics said.

Inscriptions, also called ordinals, are a new class of NFTs made possible through the protocol Ordinals created by Bitcoin developer Casey Rodarmor. They became one of the most popular digital assets in early 2022 as the tokens are minted on the Bitcoin blockchain as opposed to its rival Ethereum, which has been the largest platform to create and trade NFTs. However, high-profile Bitcoiners like Adam Back argue that the large amounts of data required from inscriptions on Bitcoin could crowd out financial transactions and derail the blockchain's mission to be a decentralized peer-to-peer payment system.

Some big news for Solana! The Solana blockchain has done something historic—it has more activity in decentralized exchanges (DEX) than Ethereum, which is a first. This comes as Solana Mobile sells out, and there’s a rally in the price of Bonk, a cryptocurrency on the Solana network.
Big news for Solana! The Solana blockchain has made history by having more activity on decentralized exchanges (DEX) than Ethereum in a single day. This is the first time it has happened since Solana started in 2020, and it’s getting a lot of attention from people who are into cryptocurrencies. The Solana community is excited about this achievement, especially as all Saga Mobile devices have been sold out, and the meme coin Bonk is setting new records.
Solana Surpasses Ethereum in DEX Volume: Historic Achievement
Solana, the proof-of-stake (PoS) blockchain founded by Solana Labs in 2018, has achieved a historic milestone by surpassing Ethereum in decentralized exchange (DEX) volume, as reported by DeFiLlama data on December 16.
Several factors contributed to this achievement. Massive purchases of Solana Mobile, significant trading activity in the Solana-based meme coin Bonk, and a generally positive sentiment toward the Solana ecosystem played key roles.
Circle CEO Jeremy Allaire acknowledged this achievement, calling it a “big day for Solana” as it overtakes Ethereum, coinciding with the sellout of Saga Mobile. Raj Gokal from Solana expressed excitement, stating, “Incredible milestone. 6 years in, just getting started!”
Anatoly Yakovenko, co-founder of Solana Labs, shared his perspective, affirming that Solana is superior to Ethereum. He credited developers for their substantial contributions to Solana’s success and hinted at upcoming improvements with the introduction of “Solana DeFi 2.0.”

Solana and BONK: Price Movements and Exchange Listings
The price of SOL, the native cryptocurrency of the Solana blockchain, has experienced a 15% rally in the past month, reaching a high of $79.15. Currently trading at $74, SOL’s 24-hour low and high stand at $71.57 and $79.15, respectively. Although the trading volume has slightly decreased in the last 24 hours to $1,840,546,027, there is still evident interest among traders.
In contrast, BONK, a meme coin on the Solana network, has witnessed a 22% decline in the last 24 hours following a remarkable 1000% rally in the past month. The current price of BONK is $0.0000231, with a 24-hour low and high at $0.0000220 and $0.0000315, respectively. Despite the recent dip in price, the trading volume continues to increase over the last 24 hours.
Adding to the dynamics, major exchanges such as Coinbase and Binance have listed BONK this week. Experts anticipate this development to potentially trigger a further rally in the price of BONK, highlighting the ongoing interest and attention garnered by this meme coin in the crypto market.
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The post Riding the BONK Wave: Solana Saga Phones Surge to $3K on eBay, Igniting 5X Price Hikes! appeared first on Coinpedia Fintech News

The recent rally in BONK’s price can be largely attributed to the success of Solana, with which it shares a symbiotic relationship. Recently, the Solana Saga phone has become a hot commodity, fetching staggering prices in online markets like eBay, with one sale today hitting $5,000. Initial sales of these phones were underwhelming, but their resale value has skyrocketed, with the “floor” price now hovering around $2,000.

Solana Saga’s BONKers Price Tag

Owners of the Solana Saga phone are eligible for airdrops, notably the BONK meme coin, which has fueled a wave of excitement. These phones were grabbed up quickly, particularly after traders realized the lucrative potential: each phone included 30 million BONK tokens, significantly boosting demand as BONK’s value surged. As per the latest update, two phones sold for $5,000 each yesterday and another sold today for $3,361. These sellers already had the phones physically, while several other sellers seem to be waiting to ship the devices.

On the Flip Side!

Notably, the Saga phone offers more than just airdrop tokens. It includes perks like a free month of access to Helium Mobile and a complimentary toy. Additionally, the dApp Store on the Saga phone promises special rewards for holders. 

Recent reports indicate a surge in Saga phone resales, with some devices selling for over $5,000. The high resale prices, driven by the allure of BONK tokens and additional perks, reflect the fervor surrounding these sought-after devices. 

Bonk’s Trading Prowess and Market Impact

Recently, Coinbase’s announcement of BONK trading set off a surge in the token’s price, gaining traction in the crypto market on December 14. The momentum continued as Binance offered zero-fee trading for BONK, propelling the token’s position among top meme coins. Additionally, Solana, the token’s parent currency, gained attention by surpassing Ethereum in 24-hour DEX volume.

As of writing, Bonk, despite a recent 16.76% drop to $0.00002473, has charted a remarkable weekly surge of 73% and a staggering 750% rise over the month. Meanwhile, its trading volume dipped by 27.78% to $1.2 billion, but it managed to beat Dogecoin and Shiba Inu in trading volume over the last 24 hours. In comparison, Dogecoin gained 17% in the last 30 days, and Shiba Inu saw a 12% increase. In the midst of this, Solana faced a 5.38% dip to $74.59, showing a contrasting market performance to Bonk’s recent price movements. 

What next? 

Last year’s record-setting success made BONK a huge hit this year, driving up demand among market participants. People who trade in assets are working hard to get their hands on memecoin because they think it will make their money in the long run. For example, the phone is being sold out all over the world.

In a noteworthy achievement for the cryptocurrency community, the DOGE-1 Mission to the Moon, funded by Dogecoin, has received approval from the National Telecommunications and Information Administration (NTIA). This regulatory endorsement marks a pivotal progression towards obtaining the final Federal Communications Commission (FCC) license, a prerequisite for overseeing communications in the X-Band and S-Band for the satellite.Journey to the MoonThe forthcoming mission, Astrobotic’s Peregrine Mission One, scheduled for launch on Dec. 23, is positioned to transport the initial physical Dogecoin token to the lunar surface. This ambitious endeavor is a collaborative initiative involving contributions from distinguished entities, including NASA.The NTIA’s approval signifies a critical juncture for Dogecoin’s DOGE-1 Mission, facilitating seamless communication during the lunar expedition. The acquisition of the FCC license, once finalized, will further validate the project’s legitimacy and compliance with regulatory standards.Community Impact on EarthBeyond its celestial goals, the Dogecoin community has left a tangible mark on Earth. The Mayor of Sakura City recently publicly acknowledged the community’s generosity for the donation of a bronze statue, transforming it into a prominent tourist attraction. This act of philanthropy not only highlights the community’s altruistic nature but also enhances the reputation of Sakura City.Dogecoin’s TransformationOriginally conceived as a playful parody of Bitcoin, Dogecoin has evolved beyond its meme-centric origins to become a catalyst for positive change and innovation. The DOGE-1 Mission serves as a testament to the community’s commitment to pushing boundaries and exploring unconventional ventures.As of the current writing, Dogecoin (DOGE) is valued at $0.08098. Holding the position of the largest meme coin by market capitalization, DOGE has experienced a notable surge of 12% in the last thirty days, maintaining steady performance over the past week. In the last 24 hours, DOGE has witnessed a 4.79% increase, indicating sustained investor interest and positive sentiment surrounding the cryptocurrency.#Doge🦊 #BinanceTournament

According to Foresight News, former US federal prosecutor James K. Filan has stated that US District Judge Analisa Torres has announced a timeline for remedies-related discovery in the Securities and Exchange Commission (SEC) lawsuit against Ripple. All parties should complete remedies-related discovery by February 12, 2024. The plaintiff, SEC, is to submit a brief on remedies by March 13, 2024, while the defendant, Ripple Labs, should submit their opposition to the SEC's motion by April 12, 2024. Additionally, the SEC may respond by April 29, 2024.

Foresight News previously reported that in early October, the SEC's appeal request in the Ripple case was rejected by a federal judge. Following this, Ripple announced that the SEC had withdrawn all charges against Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen, including allegations of aiding and abetting the sale of cryptocurrency XRP.