Institutions choose ETH over BTC and SOL, GFOX also being considered
Similar to Bitcoin’s dominant position, Solana has likewise been a major player in crypto. Its surging price and rising profile since March 2020 has been instrumental in the popularity and acceptance of DeFi.
Meanwhile, Bitcoin’s utility and acceptance have also increased outside crypto circles, with institutions creating partnerships with the cryptocurrency market. These institutions hope to tap into the financial potentials of the crypto market in other spheres, and thus coins like BTC and SOL are often at the forefront of institutional collaborations and adoptions.
In a recent turn of events, however, market statistics have revealed that ETH is now the largest single asset owned by institutions. This is, however, not the same for retail investors who seem to favor memecoins like Galaxy Fox over popular cryptocurrencies.
The Bitcoin/Solana institutional tussle
Solana has, since its launch in March 2020, created a niche for itself as a firm competitor of the popular Ethereum network. The token was built on the decentralized nature of the crypto market to create DeFi.
Seeing its increasing utility, investors have pushed SOL from $0.9511 in 2020 to over $110 in 2024. The token’s growth over the years can be attributed to its role as a blockchain network for DeFi projects.
In January 2024, SOL was in the news for the announcement of the launch of Jupiter’s JUP token.
The token’s price surged because investors were confident that the new product was going to be on par with other DeFi projects.
ARK Invest, 21Shares partner with Chainlink on Bitcoin ETF transparency
Since February, however, it appears that investor confidence in SOL has stalled, as the price has been going sideways. Market statistics have revealed that the token’s single-digit institutional ownership may be linked to the network’s major price dips over the years.
Crypto investors have shown more confidence in BTC. Despite market sentiments that Bitcoin will experience major sell-offs after an all-time high of $70,000, more investors continue to flock to BTC.
Market data has shown that institutional interest in Bitcoin is beyond speculation as the cryptocurrency is a tangible asset in 2024.
Apart from institutional interest in the pursuit of spot Bitcoin exchange-traded funds (ETFs), institutions are actively entering the cryptocurrency space to partake of its innovative benefits.
Exploring Ethereum
Market reports have hinted at a shift in institutional sentiment towards ETH.
Many analysts have linked this turn of events to the upcoming Dencun upgrade scheduled to take place in March, 2024.
Some other analysts have suggested that the recent institutional hype around ETH may be due to its switch to a proof-of-stake (PoS) consensus mechanism.
This has reduced ETH’s supply, increased staking activity, and is predicted to increase demand and subsequent price of the cryptocurrency.
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Lido Staked Ether takes over XRP in market cap as Ethereum reached $3.2k
While Solana has done pretty well in the DeFi ecosystem, the layer-2 networks built on Ethereum give the coin an edge.
Some analysts have reported that institutional interest in ETH is not a general market sentiment. According to these analysts, retail investors are more diverse in their holdings and have a preference for meme coins like GFOX.
Looking at alternatives: GFOX
Galaxy Fox has raised over $3.6 million in the ongoing presale.
The project is a blend of meme culture and play-to-earn (P2E) features. Its performance can be attributed to its utility and community support across various social platforms.
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Ronin rallies by over 50%, Galaxy Fox presale approaching $4m
Galaxy Fox has shown great potential to change P2E gaming as we know it, with token rewards for skilled players.
The token is currently used across the Galaxy Fox platform as a legal tender for transactions.
Aside from its utility, GFOX affords gamers the opportunity to acquire boosters and NFTs as passive income for staking the tokens.
Final thoughts
Market statistics have revealed that institutions that joined the crypto market because of its utility in the first place are now shifting their focus from Bitcoin and Solana to Ethereum.
This can be attributed to the upcoming Ethereum Dencun upgrade, its recent deflationary supply, and its growing influence in the DeFi space.
While ETH is attracting institutions, retail investors are leaning toward memecoins like GFOX.
With Galaxy Fox’s P2E features, strong community, and growing utility, the token is emerging as a contender in the crypto space. GFOX is available for 0.0028.
Read more:
SOL and AVAX stumble, GFOX eyes $5m in presale
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Kyrgyz crypto exchange Four Dragons reportedly suffers $100m hack
Crypto exchange Four Dragons says it had suffered a breach of its security system, resulting in ‘significant funds being withdrawn.’
Kyrgyzstan-based crypto exchange Four Dragons revealed on its website that it fell victim to a hacker attack on Feb. 22, leading to the loss of an undisclosed amount of crypto, reportedly estimated to be worth around $100 million.
While the Bishkek-headquartered crypto exchange did not specify the stolen amount, it acknowledged that the figure is “significant,” reassuring customers that operational activities “continue as normal, despite the loss of some liquidity.” It is unclear how exactly the hackers gained access allegedly to the exchange’s hot wallets.
Four Dragons’ hack announcement | Source: Four Dragons
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Despite the hack, Four Dragons claims the incident “will not affect our obligations to clients and partners.” The exchange also disclosed 16 Bitcoin addresses to which the stolen funds were transferred. As of press time, a considerable portion of the stolen crypto remains in the identified addresses.
“We are taking maximum measures to ensure these funds cannot be used. We ask everyone concerned to take this information into account.” Four Dragons
The exchange added it also offers a reward of 10% of the returned amount “to anyone who helps in the recovery of the stolen funds,” adding that the team is “ready to provide additional information and guarantee anonymity.”
Kyrgyzstan’s regulatory landscape concerning cryptocurrencies is still evolving. While the country has taken initial steps to regulate virtual assets, there remains considerable uncertainty and ambiguity regarding the implementation of specific regulations. Moreover, Kyrgyzstan lacks specific guidelines for crypto exchanges, as the legislation passed in 2022 primarily addresses virtual assets’ parameters but does not directly regulate exchanges.
Read more: Kyrgyzstan witnesses major boost in tax revenue from crypto mining
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Solana holds $100 support as VeChain retraces; experts bullish on Rebel Satoshi
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Solana holds $100 support as VeChain retraces; experts bullish on Rebel Satoshi
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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Some top cryptocurrencies, including Solana’s SOL, have underperformed despite the recent cryptocurrency market bull wave, whereas VeChain’s VET is up almost 100%. Rebel Satoshi, a meme coin, has also raised more than $2.2 million in its ongoing public presale.
Solana TVL soars past $2 billion
According to DefiLlama data on Feb. 20, the current amount locked in DeFi applications on Solana is $2.028 billion, a mark which was last seen in June 2022. This represents a significant improvement since the December low of less than $1 billion.
You might also like: Solana TVL surpasses $2b, down 6% in last 24 hours
Since this news, there has been a decline in the value of Solana contrary to expectations. SOL has dipped from $108.46 on Feb.20 to $99.95 on Feb. 23, representing a 7.85% decline. Experts have expressed concerns about investing in SOL due to this price action and have predicted that SOL will fall to $89.76 by mid-March.
On the contrary, some experts believe that SOL will rise as a result of the collaborations in the Solana ecosystem. They have predicted that SOL will rise to $165.87 by the end of March.
VeChain and BCG collaborate for sustainability
On Dec. 1, 2023, VeChain announced a new sustainability relationship with global consulting firm Boston Consulting Group (BCG).
The partners intend to use blockchain technology to allow meaningful environmental improvements, beginning with cutting carbon emissions in high-impact industries such as agriculture.
Since this announcement, there has been a significant increase in the value of VET.
You might also like: Analysts watching XRP, VeChain, and NuggetRush
VeChain has witnessed a rise in VET valuation from $0.023 on Dec.3, to $0.044 on Feb. 23, representing a 91.30% increase.
Following this partnership, analysts predict that VET will rise to $0.065 by April.
Conversely, the lack of partnerships for VeChain has made some experts give negative predictions for VET. They have predicted that VeChain will witness a decline in VET valuation to $0.034 by mid-March.
Rebel Satoshi shines in presale
Rebel Satoshi, a meme coin initiative that seeks to challenge the harsh rules of centralized crypto businesses, has sparked investor attention following a successful performance during its public presale.
To be more exact, Rebel Satoshi has raised over $2.1 million since the presale on Nov. 5.
You might also like: Solana finds resistance at $100; Rebel Satoshi posts sharp growth in presale
Aside from meeting many of its presale objectives, Rebel Satoshi has become the favored investment for investors due to its community-based approach to battling centralization. Additionally, investors believe Rebel Satoshi is the top ICO because of its native RBLZ currency, with deflationary tokenomics and a supply cap of 250 million tokens.
Rebel Satoshi is now in Recusants Round 5 with RBLZ trading at $0.024. It will rise to $0.025 at the end of the presale. However, prices are up by 140%, rising from $0.010 registered during the Early Bird Round.
Read more: Rebel Satoshi presale in focus, XMR and MINA can recover after slump
Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
The U.S. Securities and Exchange Commission (SEC) revealed suspicious movements of Terraform Labs’ funds.
According to Reuters, the SEC discovered a payment of $166 million to the company’s lawyers from Terraform Labs. The exact date of the regulator’s statement is unknown.
The commission found that 90 days before the bankruptcy, the Dentons firm received $122 million from Terraform Labs. Later, the law firm received another $44 million from the company. The agency believes the funds could have been transferred to a so-called “opaque fund” with the expectation of using them to finance a legal battle with the SEC.
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Representatives of the Commission note that more than half of the amount has already been spent to cover the costs. Dentons U.S. account LLC remains $81 million but the company cannot represent the defendant’s interests until it returns the funds previously spent, SEC says.
As a result, the regulator demanded that the Delaware bankruptcy court refuse to allow the defendant to involve the Dentons firm in the process. SEC officials allege that the firm was previously involved in siphoning off funds from the company that could have been used to pay for enforcement decisions.
The company used some money to pay consulting bills for former Terraform Labs founder Do Kwon. Reportedly, for the extradition case of an entrepreneur. Do Kwon is currently in custody in Montenegro, where he was arrested for using a fake passport. He could be extradited to the United States to stand trial on charges of organizing large-scale fraud.
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HSBC Hong Kong to allow investments into virtual assets in 2024
By Denis Omelchenko
February 29, 2024 at 8:46 am
HSBC’s Hong Kong investments head, Sami Abouzahr, says asset tokenization is one of the top priorities for the bank for this year.
HSBC Hong Kong is set to double down on asset tokenization as part of the bank’s development strategy for the current year. In an interview with the Hong Kong Economic Journal, HSBC Hong Kong head of investments and wealth solutions Sami Abouzahr revealed that the bank is actively studying the potential introduction of tokenization technology.
Although Abouzahr did not delve into specifics, he highlighted that the initiative aims to provide customers with new opportunities to invest in both physical and virtual assets. The goal is to ensure that these investment products adhere to regulatory requirements while broadening accessibility to a wider range of investors, Abouzahr added.
Tokenization technology involves converting physical or virtual assets into digital tokens on a blockchain network. By leveraging this technology, HSBC seemingly wants to expand its reach in the Hong Kong market, which attracts more and more venture capital for crypto-related ventures.
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Abouzahr added that HSBC Hong Kong’s focus on tokenization extends beyond catering solely to professional investors. Instead, the bank now wants to make these investment avenues accessible to a broader spectrum of customers in the region. However, it’s unclear when exactly the bank plans to roll out these services.
HSBC’s venture into the realm of blockchain and digital assets has already shown signs of momentum. In early February, the bank led a funding round for MediConCen, a blockchain insurance startup, which raised a total of $6.85 million in the latest deal. The investment aims to streamline and expedite the claims process within the insurance sector. Apart from HSBC, other investors such as G&M Capital, ParticleX, and Wings Capital Ventures also participated in the funding round.
Read more: Hong Kong asserts rigorous crypto regulations amid market evolution
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Shido token dives over 90% after Ethereum staking contract exploit
By Rony Roy
February 29, 2024 at 8:43 am
Edited by Dorian Batycka
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Shido token dives over 90% after Ethereum staking contract exploit
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A security breach on the layer-1 blockchain Shido has led to a dramatic drop in its token value, plunging by over 90% within a mere half-hour period.
The incident occurred after an exploit was detected, with blockchain security firm PeckShield first reporting the anomaly on Feb. 29 through a social media post on X.
Further analysis by PeckShield revealed that the exploit involved the unauthorized transfer of the blockchain’s Ethereum staking contract to a different address. The new owner subsequently modified the contract with a concealed function that facilitated the withdrawal of staked tokens.
According to PeckShield’s findings, the exploiter succeeded in extracting more than 4.3 billion Shido tokens, which accounts for nearly half of the token’s circulating supply of almost 9 billion, as reported by cryptocurrency data aggregator CoinMarketCap. Prior to the exploit, the market value of these tokens was estimated at around $35 million.
On-chain researcher ZachXBT, in a post on X, disclosed the identification of the exploiter’s address. This address had received funding via the cross-chain protocol Layerswap before receiving additional funds from the Arbitrum blockchain.
ZachXBT’s investigation also suggested the discovery of the real identity behind the wallet that funded the exploiter. However, it appears that the funding wallet itself had been compromised, as indicated by an unexpected transfer of its assets prior to funding the exploiter.
You might also like: Serenity Shield token collapses by 95% after $5.6m breach
Shido, which operates on a proof-of-stake consensus mechanism, has yet to inaugurate its mainnet, with an announcement on Feb. 24 hinting at a launch scheduled for the following week.
The SHIDO token, based on the Ethereum ERC-20 standard, offers staking opportunities on its associated decentralized exchange (DEX) with a promised annual yield of 8%.
The breach on Shido is part of a broader trend of crypto-related security incidents. Over the previous year, the cryptocurrency sector experienced more than 600 hacks, resulting in losses exceeding $2.1 billion. This figure marked a nearly 30% decrease from the losses recorded in 2022. Despite this decline, the current year has already witnessed 30 attacks in January alone, with losses amounting to $182.5 million.
Meanwhile, February is shaping up to be a significant month for security breaches in the crypto space, highlighted by a $290 million theft from PlayDapp, along with several million dollars lost to wallet breaches and phishing scams.
Read more: Major crypto hacks of 2023: how the industry lost over $1 billion in minutes
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
The excitement around the recently concluded DYM, Starknet, and JUP airdrops continues to linger. While several altcoins have surfed this wave, XRP hasn’t.
The downward trajectory of XRP continues, adding to the already big concerns. Meanwhile, Polygon (MATIC), Celestia (TIA), and NuggetRush (NUGX) will likely outperform XRP.
NuggetRush could rally
NuggetRush has been hailed as a coin to consider for good reasons. For starters, in comparison to Polygon, XRP, and Celestia, it has more room for growth. Hence, it comes as no surprise that investors are showing a keen interest.
A token costs only $0.018 during its fifth round.
You might also like: NuggetRush in focus, Arbitrum and Celestia under pressure
Investors are looking at its presale and unique concept. It represents the play-to-earn (P2E), NFTs, GameFi, and memes.
Of equal importance are its low token supply—500 million—and other features, which add to its appeal. For one, token holders will have a say in the game’s and ecosystem’s future. Further, NFTs can be staked with up to 20% APY, along with other ecosystem participation rewards.
Polygon is bullish
Polygon is bullish, teasing the $1.00 resistance on several occasions.
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Its remarkable performance can be attributed to the overall market rally, which is fueled by Bitcoin’s rally above $60,000, and the rise in sentiment.
According to analysts, Polygon can rally past $2.90 in the coming months, flipping its all-time high (ATH).
Celestia in focus
Celestia recently registered a new ATH, much to the excitement of holders.
Given its room for growth, Celestia is being explored. Its solid fundamentals further cement this claim.
Conclusion
Amidst XRP’s bearish decline, investors have been shifting to Polygon, NuggetRush, and Celestia. These top crypto coins boast massive growth potential. If you wish to ride the NUGX bullish wave to its fullest, click the link below.
Read more: Solana’s partnership catapults Filecoin, investors flock To NuggetRush
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Nigeria arrests Binance executives amid naira speculation crackdown
By Denis Omelchenko
February 29, 2024 at 8:38 am
Edited by Dorian Batycka
NEWS
Nigeria arrests Binance executives amid naira speculation crackdown
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Nigerian authorities have reportedly detained two senior executives at Binance in a bid to clamp down on naira speculation.
As reported by the Financial Times (FT), Binance’s two senior executives have been arrested upon arrival to Nigeria by the Office of the National Security Adviser after the country imposed a ban on multiple crypto exchanges.
While the names of the detained executives were not specified in the report, it is understood that their passports were seized, as per sources familiar with the situation cited by the FT. Binance has not issued any public statements on the matter at the time of reporting.
Nigerian authorities have shifted their attention to cryptocurrency websites following a rapid devaluation of the naira, contributing to inflation reaching an almost three-decade high of nearly 30%. As crypto.news earlier reported, the Nigerian government ordered telecom and internet service providers to restrict access to various crypto exchanges, including Binance, Coinbase, and Kraken in an effort to safeguard against the frequent depreciation of the naira, the national currency.
You might also like: Nigerian central bank publishes rules for opening crypto accounts
During a recent press conference, Olayemi Cardoso, Nigeria’s central bank governor, referenced Binance while discussing fund flows through crypto exchanges, expressing worries over the significant sums passing through Binance Nigeria in 2023, totaling $26 billion, from sources that the government “cannot adequately identify.”
Sources close to the situation, as reported by the FT, revealed that Nigerian authorities have requested a list of Binance’s Nigerian users who joined the platform since its launch, though it remains unclear if this is part of negotiations to secure the release of the detained executives.
Earlier in February, Binance imposed a limit on the selling price of Tether (USDT) on its peer-to-peer platform in Nigeria. In a blog announcement to Nigerian users on Feb. 20, the exchange emphasized its commitment to collaboration with local authorities, saying it’s “working hand in hand with local authorities, lawmakers, and regulators to ensure we act on non-compliance.”
Read more: Central Bank of Nigeria reverses crypto ban
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Cosmos and Monero competitor sets sight on gains
February 29, 2024 at 7:50 am
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Cosmos and Monero competitor sets sight on gains
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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Solana and Filecoin recently announced a collaboration to devise blockchain storage solutions. With the Filecoin integration, third-party dapps would be able to access Solana’s block history.
According to blockchain experts, the move would help Solana in improving the redundancy and scalability of its data sets. The collaboration could pave the way for new ideas in the developer community.
The potential of the integration has shifted the crypto community’s attention from investing in spot Bitcoin ETFs back to the altcoin sector. Thus far, interest in altcoins is rising with the InQubeta (QUBE) presale crossing $10.4 million.
The platform was unveiled last year and helps AI startups find investors. Its model is powered by Ethereum and it screens startups carefully to check how well they are aligned against InQubeta’s vision. As InQubeta makes rapid strides, it’s also giving tough competition to older altcoins like Cosmos (ATOM) and Monero (XMR).
InQubeta and AI startups
InQubeta opens a world of opportunities for AI startups. With its services, InQubeta helps innovators build a scalable economic model for their projects using guidance from veterans in the AI industry and experienced professionals.
The platform has created a native coin, the QUBE token, exclusively for its ecosystem. Apart from being used for transactions, the cryptocurrency also facilitates governance of the platform.
You might also like: Klaytn and Finschia merge; BNB targets $400 as InQubeta presale approaches $10m
A year into its launch, there are hardly any new altcoins that have matched InQubeta’s success. Analysts attribute the consistency of its performance to the QUBE token’s deflationary model.
Most asset categories are not immune to the ups and downs of the market. In InQubeta’s case, the deflationary model keeps the asset safe from inflation and volatility by restricting its supply. As buyers find it hard to acquire the token, its value rises even when the markets are tanking.
In the upcoming months, the InQubeta team will be unveiling new initiatives to expand the platform’s user base. The first of such initiatives would be a staking dapp to popularize its service. Another project that the team is working on is to get the QUBE token listed on a centralized exchange.
Hackathon part of Monero‘s Prague event agenda
Monero is a privacy-centric crypto platform for making secure online transactions. The proof-of-work platform has created a special token for its transactions, XMR.
Its annual Monero Konfrenco being held in Prague in June brings innovators together on a common platform for discussions and insights about privacy-first technologies.
You might also like: Binance broadens ‘monitoring’ tag to cover 10 more tokens, including Monero and Zcash
The platform will also organize a hackathon where developers have to build dApps using Monero’s code or features and they can bag exciting crypto rewards for their efforts.
Cosmos Hub fork GovGen set for launch
With a network of interoperable blockchains, Cosmos enables developers to create dapps and scale them effortlessly. Its native token ATOM was among the best altcoins for 2023 and it is raking in further gains this year too. Cosmos is busy solving the issue of interoperability.
It’s powered by the Inter-Blockchain Communication (IBC) protocol which ensures nominal gas fees and a transaction rate as low as 500 milliseconds.
You might also like: Ethereum falls as Cosmos rises; Arweave and InQubeta lead altcoin rally
Cosmos has been in the news of late because of GovGen, a blockchain created for decentralized governance that is a fork of Cosmos Hub. According to reports, it has the potential to decentralize the operations of the AtomeOne network.
GovGen holders will be able to vote for proposals regarding tokenomics and chain parameters of AtomeOne.
Cosmos co-founder Jae Kwon recently said that it can catalyze the way governance tokens are used for blockchain development.
Conclusion
Given their potential for driving financial inclusion, InQubeta, Cosmos, and Monero are great options for investors. These cryptocurrencies can offer multiple ways of earning passive income like staking and incentivized participation.
These platforms are also democratizing DeFi for different user groups. While Cosmos and Monero traditionally cater to developers and crypto users respectively, InQubeta empowers AI startups.
Read more: Ethereum bulls target $3k; InQubeta dominates Reddit
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US government transfers $922m in Bitcoin from seized Bitfinex hack funds
By Anna Kharton
February 29, 2024 at 7:28 am
Edited by Dorian Batycka
NEWS
US government transfers $922m in Bitcoin from seized Bitfinex hack funds
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The U.S. government allegedly transferred Bitcoin (BTC) from two wallets that contained funds confiscated in the 2016 Bitfinex hack.
According to Arkham Intelligence, on Feb. 28, from approximately 18:39 UTC to 19:55 UTC, U.S. authorities transferred almost a billion dollars worth of Bitcoin in four transactions.
Source: Arkham Intelligence
First, the wallet transferred 1 BTC worth $60,200 (at the time of the transaction). The U.S. government then moved another 2,817 BTC worth approximately $172.74 million to unknown addresses.
Then, less than an hour later, from another wallet, the government transferred 0.01 BTC and 12,267 BTC, worth about $748.46 million, in two transactions. This brought the aggregate volume to approximately $922 million at the transfer time.
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The U.S. government is considered one of the largest Bitcoin whales. According to Arkham Intelligence, it has just over 200,000 BTC on its balance sheet, worth $12.44 billion. Of this, about 94,600 BTC are assets confiscated due to the Bitfinex platform hack, according to 21.co.
During the Bitfinex hack in 2016, hackers stole almost 120,000 BTC. In February 2019, the U.S. authorities returned more than 27,000 BTC to the exchange, converted them into dollars, and paid them to holders of RRT (Recovery Right Token) tokens.
The person behind the attack, Ilya Lichtenstein, admitted to infiltrating Bitfinex’s security systems over an extended period. The motive behind Lichtenstein’s decision to target Bitfinex in 2016 was reportedly linked to the challenges he faced with his technology startup in San Francisco.
Read more: Bitfinex hackers may plead guilty, prosecutors to recover $3 billion
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BONK surges 56% as meme coins gain momentum
By Wahid Pessarlay
February 29, 2024 at 7:24 am
Edited by Dorian Batycka
NEWS
BONK surges 56% as meme coins gain momentum
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The Solana-based meme coin, Bonk (BONK), has recorded impressive gains as the broader meme coin category rallies.
BONK is up by 56% in the past 24 hours and is trading at $0.000021 at the time of writing. The asset’s market cap surpassed the $1.4 billion mark, making it the 62nd-largest cryptocurrency and third-largest meme coin in the ecosystem.
BONK price, social volume and RSI – Feb. 29 | Source: Santiment
Moreover, Bonk’s daily trading volume also increased by 178%, reaching $920 million.
You might also like: Bitcoin’s dash past $62k spurs caution warning from Matrixport veteran
According to data provided by Santiment, Bonk’s social volume increased by 320% since Feb. 25. Data shows that the majority of the social activity comes from X and Telegram.
Despite the price rally, the largest BONK whales still haven’t made any big movements for profit-taking yet.
Data from Santiment shows that Bonk’s Relative Strength Index (RSI) has cooled down in the middle of the price rally — declining from 64 to 63 in the past 24 hours. The indicator suggests that the meme coin is slightly overheated, and some whales might try to sell BONK for profit.
BONK’s price hike comes as Bitcoin’s rally to the $64,000 mark brings bullish momentum to the broader crypto market.
According to data from CoinMarketCap (CMC), the total meme coin market cap surged by 32% over the past day — surpassing the $34 billion mark. Dogecoin (DOGE) is still leading the category with a $19 million market cap, followed by Shiba Inu’s (SHIB) $8.3 billion value, per CMC.
