WikiBit Industry Insights: Key Crypto Market Trends and Updates

WikiBit 2024-11-21 15:17

This week’s crypto market witnessed Bitcoin reaching an all-time high of $97K USD, alongside surging activity in Solana’s meme token sector and growing traction in decentralized science (DeSci), reshaping the blockchain landscape.

Crypto Market Updates

This Week's Hot Topics

• BTC Reaches New All-Time High: Bitcoin (BTC) has surged to a new peak, touching $97,852 USDT.

• BlackRock‘s Spot Bitcoin ETF Options Launch on Nasdaq: The official listing of options trading for BlackRock’s spot Bitcoin ETF on Nasdaq has propelled BTC prices upward.

• Solana Meme Tokens Maintain Momentum: The popularity of Solana-based meme tokens remains strong, with platforms like pump.fun achieving record daily revenues.

• Decentralized Science (DeSci) Gains Traction: The DeSci sector is attracting market attention, bolstered by endorsements from industry leaders CZ and Vitalik.

Market Environment

This week, BTC‘s price continued its ascent, reaching a new high of $97,852. The introduction of spot BTC options has contributed to this upward trend. The ETH/BTC exchange rate has declined, hitting a low of 0.03187. Historically, BTC’s dominance increases following new highs; currently, BTCs market share stands at 60.49%. Stablecoin market capitalization has reached $186.62 billion, marking a $4 billion increase over the past week.

The meme token sector is experiencing heightened enthusiasm, with pump.fun reporting record daily earnings, though daily trends are shifting rapidly. The DeSci sector is gaining attention, primarily due to Binance Labs investment in BIO Protocol. CZ has expressed interest in biotechnology adoption, and both CZ and Vitalik have engaged in discussions about DeSci. Additionally, a16z has led funding for the DeSci project AmionChain.

Policy & Regulation Updates

South Korea to Enforce 20% Crypto Tax in 2025 with Increased Exemption Limit

https://news.wikibit.com/en/202411218844483208.html

South Koreas Upbit under probe for at least 500,000 KYC violations

https://news.wikibit.com/en/202411212054888576.html

Security Incident Tracking

MacBook users with Intel chips urged to update for enhanced security

https://news.wikibit.com/en/202411218904203952.html

The Solana-based trading terminal DEXX was hacked, resulting in over $21 million in user losses.

https://news.wikibit.com/en/202411212614455737.html

Disclaimer：

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.