0
0
Today in Markets

Holiday Crypto Cooldown

As everyone relaxes these holidays, prices are chilling too!
0
0
Dec 30, 2023 • 1 min read

Cooling off! Broader crypto markets stagnated this holiday week, with the total crypto market cap (TOTAL) declining 3.5%. The wind got sucked out of Solana’s sails, with SOL tumbling 17% off its Monday high and many hot memecoins falling too.

Solana’s largest memecoin by market cap, BONK, which has been down only since its Coinbase debut on December 14th, slid a further 20% this week, and anyone who aped the Crypto Twitter influencer favorite ANALOS last weekend has now found themselves down 80%!

WIF is one of the only Solana memecoins that has managed to defy the decline, with its 20% weekly gain a testament of resilience for the community.

While tokens from the high flying Solana ecosystem gave back gains, Ethereum underwent its own mini bull this week, with the ETH/BTC Ratio climbing 5.5% and ETH setting a new cycle high on Wednesday!

Despite putting in gains, ETH was quick to retrace its breakout and finds itself once again back under $2.4k. Some traders are betting this is where the trend of Ether outperformance ends…

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

Published in Bankless

There’s a revolution in the world of money. Ethereum, Bitcoin, crypto, open finance, DeFi—a bankless revolution. And you want part of it.

Are you sure you want
to log out?
You'll lose access to your Bankless account until you log back in again. Oh and also, we'll miss you too much! 😢
Cancel
Continue
Account Light mode Log Out