Shiba Inu (SHIB) is up 13% in the past 24 hours, but the Solana-based meme coin Dogwifhat (WIF) is the real star, exploding by 30% after Elon Musk posted a photo of dogs wearing hats on Twitter.
Bitcoin experienced its most volatile weekend in a year, slipping from an all-time high of $72,760 to as low as $64,550 before recovering to around $68,300. Meanwhile, Solana stole the spotlight, surging 36% over the past week and leading market gains.
After charting impressive gains and recording new all-time highs, Bitcoin’s price has violently retraced to a weekly low of $67,000, dragging altcoins like Dogecoin and Shiba Inu down with it, leading to nearly $700 million in liquidated trader positions within the past 24 hours.
The Cardano blockchain has experienced a significant increase in active wallets, with a 40% surge to 600,000 active wallets over the past month. However, despite this growth in user engagement and developments within the Cardano ecosystem, the ADA token’s price has remained relatively stagnant, lagging behind the overall bullish trend in the crypto market.
Coinbase’s chief legal officer Paul Grewal has criticized a letter from two U.S. senators urging the SEC to tighten regulations on Bitcoin ETFs and reject further crypto ETF applications. Grewal argues that Ether’s spot market is deep and liquid, with a high correlation between its futures and spot markets, similar to Bitcoin.
Crypto exchange WEEX has announced its commitment to burn 30% of LUNC trading fees, joining Binance in supporting the Terra Luna Classic community’s efforts to reduce the LUNC circulating supply. This move aims to contribute to the LUNC burn campaign and promote the revival of the Terra Luna Classic ecosystem.
In a playful move, a developer uploaded the entire Bee Movie script to the Ethereum network just 13 minutes after the launch of Ethereum’s Dencun upgrade, taking advantage of the reduced data costs brought about by the new upgrade.
The meme coin Dogwifhat (WIF) has climbed to become the fifth-largest meme coin by market capitalization, reaching a $2.2 billion valuation. However, despite the uptrend, technical indicators suggest a potential pullback for WIF bulls due to diverging volume.
MicroStrategy executive chairman Michael Saylor predicted that Bitcoin would surpass gold as a store of value in the coming months, stating that Bitcoin is a far superior asset with none of gold’s defects. Saylor cited Bitcoin’s digital transferability, constant availability for trading and spending, and advantages over traditional assets like stocks and real estate.
Bitcoin’s recent surge to new all-time highs is creating a fresh wave of crypto millionaires, with around 1,500 wallets joining the seven-figure club each day.
