Here's an update on today's major crypto news:
1. **Bitcoin's Rally**:
Bitcoin is on a bullish trend, trading around $72,000. Analysts predict it could reach new all-time highs by the end of the year, potentially exceeding $76,000 in November and aiming for $100,000 by January 2025. The surge is driven by factors like increased ETF inflows and a shift towards yield-generating protocols.
Karan
2. **Meme Coin Hype**:
Meme coins have seen a significant surge in the market, gaining 44% in capitalization. Popular tokens like Nerio and political-themed coins have benefited from election-driven hype, but experts warn that these gains might be short-lived once the election buzz fades.
3. **Shiba Inu and Dogecoin**:
Both Dogecoin and Shiba Inu have shown strong performance recently. Shiba Inu has re-entered the top 10 cryptos by market cap, while Dogecoin is forming bullish patterns that could propel its price upward.
Karan
4. **Exchange Developments**:
Trading platforms like Bitget have reported record volumes, driven by the broader market recovery. Crypto.com has also made a notable move, covering X (formerly Twitter) subscriptions to support free speech.
karan
Overall, the crypto market is showing strong recovery signals, with major coins and meme tokens benefiting from both market momentum and external factors like the U.S. elections.
