Smart money has been pouring into non-Ethereum (ETH) meme-new launch projects. Welcome to this week's crypto market update. Bitcoin is currently consolidating below $44,000, while Ethereum is trading below $2,300. However, this week's focus is mostly on meme coins. In particular, those meme coins based on **alanche and solana, huskies and bunkers are eye-catching, respectively.
The crypto market remains significantly resilient, driven by expectations of Bitcoin ETF approval. Investors pay close attention to market movements and wait for the regulator's decision. Although the SEC has postponed several Ethereum ETFs, major players like Blackrock are actively revising their Bitcoin ETF proposals, fueling market expectations. Experts**, multiple ETF approvals can have a significant impact on the market.
Inflows and Outflows: Altcoins like Solana, Cardano, XRP, and Chainlink bucked the trend, attracting $21 million in inflows, with Solana leading the way with $10.6 million. Bitcoin experienced significant outflows of $33 million, while Ethereum and Alanche saw slight outflows. Blockchain equity remains strong, with inflows increasing significantly to a total of 1$2.2 billion, which reached $2An all-time high of $9.4 billion.
Bitcoin Transaction Fees and Volatility: Bitcoin transaction fees have reached their highest level in two and a half years, with an average cost of around $37$58, driven by an increase in Ordinals coinage. Despite the surge in fees, Bitcoin has an annualized volatility of 41An all-time low of 53% shows stability and maturity amid regulatory challenges and market volatility.
Layer 1 blockchains, AI projects, and meme coins: Layer 1 blockchains like Solana, Alanche, and Cosmos-related projects have maintained a strong market position, witnessing significant volatility. Crypto projects related to artificial intelligence, which intersect with advanced technology and finance, continue to attract attention. Meme coins, including $BoNK, $coq, $toshi, and $Husky, have skyrocketed on Solana and **Alanche chains, highlighting the unique combination of humor and investment opportunities in crypto culture.
Inscriptions and the Rise of BitcoinFi Tokens: Inscriptions, originally a feature unique to Bitcoin, have gained traction on various chains. BitcoinFi tokens, such as $Mubi, $dova, $bssb, and $TURT, have made significant gains, signaling a new addition to the market that could play an important role in the next bull run.
Bitcoin's current market behavior is in a stable range, between $40,000 and $44,000. With the seemingly weakening bullish strength, expectations for a downward correction below $40,000 are growing.
This trend is further highlighted by a significant bearish divergence in the Daily Relative Strength Index, which is expected to continue until the key red resistance level is breached. This situation indicates a cautious market sentiment and potential changes could occur if the resistance level changes.
BONK has experienced a significant surge, reaching a valuation of more than $2 billion after Coinbase's listing, resulting in more than $500 million in BONK traded on Coinbase, doubling it since its initial confirmation. Bonk then retraced and now has a market capitalization of around 11$600 million. The craze behind Bonk has also boosted the sales of Solana Saga phones in anticipation of a free airdrop.
Husky faced a sharp ** this week, with more than 36%. The overall market capitalization trend has remained above $75 million, while ** has fallen to 0. per unit000000085 support level for the US dollar. Husky has been the best-performing meme coin in the Alanche ecosystem.
SATS (SATS) is up 45% after its listing on the OKX, with a current trend of around 000000070 dollars.
Coq Inu (COQ) is a meme coin of Alanche that exploded by 640% in the last week and then went to 0Under 000003 USD. A lucky trader bets $450 on COQ, converting it into $2 million.
Ronin (RON) has soared more than 95% in the past month, with an overall market capitalization trend of just under $40 million. According to Nansen's data, there was a significant increase in active addresses in Ronin in November, indicating an uptick in activity.
Injective (INJ) surged to 39 on Tuesday$15, an increase of 3,000% in 2023. Despite the total locked-up value of just $18 million, Injective traded a whopping $600 million in the last 24 hours.
The market cap of Immutable (IMX) grew by 20% in the last week** to $3 million.
Multibit (Multi) is over 150% higher in the last week, with a market cap of nearly 2$6.5 billion.
Solana (SOL) has reached a 20-month high, surpassing XRP to become the fifth-largest cryptocurrency with a market cap of $33.7 billion, fueled by the popularity of the thriving DeFi ecosystem and meme coins. This week, its total value locked (TVL) surpassed $1 billion for the first time, the first time since the collapse of FTX.
Bitstable Finance (BSSB) is currently 7$19 for the last 24 hours**720%, but in the past week ** a significant 15910%。The cryptocurrency has a trading volume of over $5.5 million in 24 hours.
TURT (TURT) is up 170% in the last week and 1200% in the last month. Currently, TURT is trying to break through 0$10 resistance level.
Ordi (ordi) in September from 2$82 surged to a peak of 69 in early December$76, a staggering 2370% increase. Since then, ** has fallen back below $55.
Alanche (AX) has become a major force in the crypto market, with the AX token recently reaching over $40, highlighting the trust that investors are building on its ecosystem. This is mainly attributed to the rise of **ax-based meme coins.
Shiba Inu (SHIB) ushered in 4A large number of investor wallets of 8 trillion SHIB increased by 375% in 24 hours, according to IntotheBlock's large holding** indicator. In addition, Shiba Inu has launched a new one for SHIB holders'.shib'Domain name.
Helium (HNT) has grown by a massive 80% over the past week, approaching the $10 per unit level, which is the highest since June 2022. This spike is largely attributed to the high level of interest generated by the newly launched Helium Mobile, a service that provides US users with unlimited access to the Helium network for $20 per month**.
Bounce (Auction) is currently trading** at $44, up 118% over the past week. The market cap of the token is about 2$8.5 billion, a 1:100 token swap is underway, from its original Bounce "Bot" token.
Aleph Zero (Azero) is currently 1$77, up 37% over the past week, with a current market capitalization of about $4$4.5 billion. The token is made possible by its privacy concerns.
ORCA (ORCA) has reached $8, more than $8 from its lowest point this year**, largely due to connections to the rapidly expanding Solana ecosystem. ORCA also has a TVL close to 1$7.5 billion.
Alex Lab (Alex) has grown 80% in the past week, bringing it to 0$466, with a market capitalization of about $300 million. This growth coincides with Alex's recent listing on BitGet's BTC ecosystem area, dated December 15th.
Smart money has been pouring into non-Ethereum (ETH) meme new launch projects, especially on ARB, which attracted $41,000** (80% of smart money holds). From a non-Ethereum smart money holding perspective, some of the currently popular projects include $NOLA, which has 23$40,000 for smart holdings, $wolf own 8$20,000, $kimbo owns $4$70,000, $size has 20$80,000. Overall, Smart Money favorites (with a wallet of $5,000 or more) include $olas, $gec, $vault, $mubi, $banana, $agrs, $aegis, $rvst, $mn, and $BSSB.
Smart money appears at $Roko, which is an AI-level investment. Investors are keeping a close eye on the progress and opportunities that this AI-focused project could bring.
In addition, Smart Money has been actively buying $high, demonstrating interest in a metaverse project that aims to redefine the retail experience within the metaverse. The constant focus on metaverse projects is evident in this strategic initiative.
Another intriguing discovery is $nola on arbitrum, a new meme coin. This token has attracted considerable attention, and tracking the movements of smart money provides insights into emerging trends in the Arbitrum ecosystem.
Continuing this trend, Smart Money is actively accumulating $emp, a project that is leading the way in the abstract narrative of accounts. This reflects a strategic approach to investment that aligns with the underlying growth of the narrative.
In addition, MAP has also attracted the attention of smart money. As a new Bitcoin layer 2 and peer-to-peer fully connected infrastructure, its appeal to investors is clear. Tracking smart money movements in these projects provides valuable insights to market participants.
Notably, the Auction attracted the attention of Smart Money as a launch platform project that gained increased popularity after BSSB launched on its platform.
In addition, Smart Money has been accumulating $high, showing interest in a metaverse project that aims to redefine the retail experience within the metaverse. The growing interest in metaverse projects is evident in this strategic move.
Furthermore, another intriguing discovery of $map is in $Nola, a new type of meme coin on Arbitrum. The token has attracted considerable attention, and tracking the movement of smart money can provide insights into emerging trends in the Arbitrum ecosystem.
Notably, $auction has already attracted the attention of smart money as a launch platform project, gaining more ** after BSSB launched on its platform.
Interesting on-chain dynamics
Moving to on-chain dynamics, the $insp team has implemented a major move that will bring 135% of circulation** transferred to two new addresses. Monitoring such a deal can provide clues about the future development of the project. Deal 1 Deal 2.
In a major acquisition, GSR acquired $9.4 million worth of $BEAM from CitizenX, depositing half of it on Binance. GSR's participation in previous GameFi tokens such as $BIGTIME has led to a significant increase in the amount of fun that has been added to the mix. Transaction Links.
The Pendle team's move of tokens to a new Gnosis Safe raises questions about potential incentives, while Wisdom Money is also showing interest in this particular dynamic.
Observing the buying pressure of $TRB on a new wallet from Coinbase and making withdrawals highlights significant market activity. Today's 16% increase in TRB hints at a possible correlation with these dynamics.
Among some intriguing strategies, new wallets are accumulating $storj on a significant scale, suggesting that interest in this particular token is growing and that potential triggers need to be further investigated.
Stack Farm
Moving to a yield farming strategy, smart farmers are increasingly participating in RSETH Farming on Kelp DAO. The platform offers the opportunity to earn EigenLayer points and KELP miles at the same time, demonstrating the multifaceted appeal of this ETH restaking platform.
In response to the growing interest in AAX, smart farmers are employing a variety of strategies on ALANCHE. Farming in Pharaoh's USDC and **AX pools, and providing eye-catching APR, is one way to do this.
In addition, using Benq to borrow $**ax in stablecoins and subsequently farm on Pharaoh minimizes the direct risk to **ax and provides a risk mitigation strategy.
Wsteth LDO Farming on Velodrome has become a popular choice among smart farmers, highlighting the diverse opportunities in decentralized finance.