The market follows Bitcoin’s lead
Following Bitcoin’s all-time high of $99,645 last week and its latest pursuit of the 100k barrier, the rest of the market has responded in kind, sparking what many are calling the latest “alt season”.
The first was Solana, which reached a new all-time high of $263 over the weekend, fuelled by record-breaking DEX volume of over $100bn for November and the popularity of meme coins on the blockchain. The latest to hit the markets is Chillguy, a trend that started on social media before becoming a meme coin. The Chillguy character has become a cultural phenomenon thanks to his laid-back, chill approach and has captured the zeitgeist of attention of the crypto markets, much like Moo Deng and PNUT.
Elsewhere, three other tokens in the crypto top ten - DOGE, XRP and ADA - all reached multi-year highs as investors looked to diversify from other market leaders.
XRP has recaptured the market’s attention over regulatory optimism in the U.S, which was further compounded by current SEC chair Gary Gensler announcing he will step down from the role next year.
DOGE has also entered the fray again after Elon Musk teased that payments on X may be on the horizon, having previously been enthusiastic about using crypto as a payment method on the platform. Alongside the popular Layer 1 blockchain ADA, other Layer 1’s such as XLM, XTZ, DOT and FTM have all recorded above 30% gains in the past week.
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The Sandbox’s native token, SAND, has seen a resurgence as interest in the metaverse and digital real estate grows again. Used to purchase land and collectables on The Sandbox, the token is a leader in the GameFi and metaverse sectors. Learn more about SAND? in the app?
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Chainlink, the market leading oracle, has become a vital bridge between TradFi and crypto, offering companies the ability to provide accurate, real-time price feeds and data to the blockchain. Learn more about LINK in the app.
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This week, take a Deep Dive with Benji as he takes a closer look at Algorand, a blockchain often overlooked despite its groundbreaking technology.
Watch the full episode: https://youtu.be/o7-BqQB_rWY
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A Line is a Pixel Expressing Itself by David Young (Source:?Davidyoung.art)
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