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Today in Markets

Holiday Crypto Cooldown

As everyone relaxes these holidays, prices are chilling too!
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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.

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