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Memecoin Trading Volume Hits $16 Billion, Sparks Liquidity Crisis in NFT Market
Memecoins are gaining significantly, with trading volumes rising fivefold to US$16 billion, drawing retail interest. In contrast, the NFT market faces a liquidity crisis, with daily volumes collapsing to around US$300k and only 4,000 active users. The preference for memecoins, seen as fairer than VC-backed tokens, is impacting other asset categories like NFTs. Despite this, new developments like Yuga Labs’ ApeChain could potentially rejuvenate interest in the NFT sector. Memecoins are continuing to have a bit of a moment, with some of the biggest gainers coming from that genre. And while Bitcoin and Co are slowly making their way up,...
Michael Saylor’s ‘No Second Best’ Holds Strong as BTC Outpaces Hypothetical ETH Investment
Based on blockchaincenter.net’s “there is no second best” index—drawing from Michael Saylor’s well-known remark—Microstrategy’s strategy of purchasing bitcoin outshines what the company would have gained if it had opted for ethereum instead. Microstrategy’s Bitcoin Holdings Deliver, Leaving Ethereum Alternatives Behind Over the past month, bitcoin has held its own, but ethereum (ETH), the second-largest cryptocurrency by market cap, hasn’t kept up. For instance, bitcoin (BTC) climbed 18.8% over the past week, while ETH managed a modest 3.8% rise in the same period. Interestingly, blockchaincenter.net’s “there is no second best” index once highlighted that Microstrategy’s investment would have seen a bigger...
Ethereum Price to Hit $6,000 By December Driven RCOF and PEPE into a 12,440% Rally
Ethereum (ETH) is on track for more gains as analysts say the Ethereum price will reach $6,000 by December. Meanwhile, this bullish momentum is spilling into other tokens like RCO Finance (RCOF) and PEPE, which are poised for huge gains. Why do analysts pick out these two altcoins? ETH Experts Expect $6,000 For Ethereum Price by December ETH experts predict that Ethereum’s price could hit $6,000 by the end of the year. Ethereum just put out upgrades like Ethereum 2.0. The latest news reveals that Franklin Templeton’s OnChain U. S. Government Money Market Fund (FOBXX) is up for trading on...
