The cryptocurrency market experienced significant price movements on December 27, with many tokens such as METIS making significant gains. Here is a summary of the key developments in the crypto space. Here are the details…
BSV flew; BendDAO soars with BRC20 launch
BendDAO’s native token, BEND, saw a significant increase of more than 66% in 24 hours, likely driven by anticipation for the upcoming launch of BendDAO’s BRC-20. The current price is $0.00808. On the same day, BSV’s value increased by 21.19%, according to OKX market data. The current bid price for BSV is $60.04.
SILLY token broke a record, the rise for STG attracted attention
SILLY, a meme token on the Solana chain, experienced a rally and reached $0.152. According to Bitget market data, the 4-hour increase was over 31%. On the other hand, the price of Stargate Finance has risen above its short-term range, creating an upward trend on the monthly time frame. The monthly outlook shows a potential rise of 79.51% to $1.2. The monthly chart shows that STG has been trading in a range of $0.38 to $1.2 since May 2022. Recent bullish patterns and high volumes in November and December point to a bullish trend with potential to rise to $1.2.
METIS, HOOK and NEON are rising
The release of the Metis ecosystem development fund (EDF) triggered a surge in the METIS token, with a remarkable 290% growth in the last 30 days. EDF, worth approximately $100 million, aims to increase development and liquidity. The EDF announcement led to a surge in METIS, rising over 50% within 24 hours. The fund’s assets currently hover around $360 million.
Additionally, Web3 education platform Hooked Protocol announced its first BRC-20 project, TUNO, on Launchpad. TUNO aims to bring the liquidity of the Bitcoin network to EVM networks. Launchpad will launch on December 28 and will allow users to stake HOOK tokens for rewards. After the announcement, the HOOK price quickly increased from $1.4 to $1.54. On the other hand, according to CoinGecko data, Solana’s EVM compatible solution Neon (NEON) is currently trading at $3.63, up 45.2% in 24 hours, and has risen above $3.6.
Ultimately, these various movements between various cryptocurrencies highlight the dynamic nature of the crypto market, with each token responding to specific events and market dynamics. As we approach the end of the year, investors will follow these developments closely to see potential opportunities and trends in 2024.
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