Bitcoin Hits A New All-Time High Above $93,000 Inducing Extreme Greed In the Crypto Market.

Web3 Weekly Roundup

Hello degens, 

Excited to write to you again at the start of this new week.

So, Bitcoin makes another record high and the ‘meme supercycle’ goes into full swing.

The ‘1 SOL and a dream’ chant is now on the lip of every degen. 100x and 1000x PnLs’ are making the rounds on crypto Twitter. 

Seems to me like the ‘WAGMI’ hats are back on! But that’s just the beginning.

Anyways, before we get carried away with all the euphoria on the timeline, let’s quickly get to the business of the day - the highlights of the week’s events : 

• Bitcoin Hits A New All-Time High Above $93,000 Inducing Extreme Greed In the Crypto Market.

• Popular Trading App Robinhood Relists Solana And Cardano, Adds Support For Pepe And XRP.

• Solana-based NFT Marketplace Tensor Introduces Social Trading App Vector.fun.

• Ethereum Layer-2 Scaling Network Linea Reveals Plans For Token Launch.

• Stablecoin Supply Increases By $5 Billion In Over A Week.

Now the highlights in detail : 

• Bitcoin Hits A New All-Time High Above $93,000 Inducing Extreme Greed In the Crypto Market : 

On Wednesday, Bitcoin surged to a new all-time high of $93,477 causing the Crypto Fear and Greed Index to spike to a high of 80 (the second highest level this year after March’s peak of 82) indicating heightened optimism among investors.

Meanwhile, meme coins such as Floki and Doge are also rallying , with Dogecoin reaching its highest price in three years.

The global market enthusiasm comes after Donald Trump emerged winner in the recently concluded US Presidential elections, signaling positive sentiment toward digital assets.

Source article

• Stablecoin Supply Increases By $5 Billion In Over A Week : 

According to TradingView data, the stablecoin exchange balances has risen to a yearly high of $41 billion post-US elections, with USDT and USDC growing by $5.4 billion in a week.

This influx of stablecoins signals increased capital inflows into the digital asset ecosystem, providing liquidity for trading and buying assets.

Source article

• Popular Trading App Robinhood Relists Solana And Cardano, Adds Support For Pepe And XRP : 

On Wednesday, Robinhood’s crypto arm relisted Solana (SOL) and Cardano (ADA) for U.S customers after it had ended support for them in June last year following an industry-wide crackdown by the US SEC.

But that’s not all, the trading app also went ahead to add support for XRP and the meme coin, PEPE. The news of the Robinhood listing caused these assets to rise sharply in price with PEPE surging over 60% to hit an all-time high price of $0.00002219 on Robinhood’s listing. 

Source article

• Ethereum Layer-2 Scaling Network Linea Reveals Plans For Token Launch : 

On Wednesday, Ethereum layer-2 scaling network incubated by Consensys, Linea, announced the launch of a nonprofit organization to support its mainnet development and community growth—with plans to roll out a token by the end of Q1 2025. 

According to the Linea foundation, the LINEA token will be airdropped to ecosystem contributors some time in the coming months based on criteria that have yet to be communicated.

Source article

• Solana-based NFT Marketplace Tensor Introduces Social Trading App Vector.fun : 

Tensor, a solana-based NFT marketplace has recently introduced its latest social trading app, Vector.fun, a new platform that will blend social engagement with token trading in a mobile-first app across multiple blockchain networks.

In other words, Tensor aims to put the meme coin banter, flexing, and community-building all in one spot.

Source article

Now that’s just about it for the week!  But we’ll be back with much more intriguing updates in the coming week.

Please, do well to leave a comment if you can… and share with your frens to help keep them in the loop about the relatest recent updates in the industry.

Until we write to you again, do enjoy a remarkable week ahead!