Altcoins including Solana, Chainlink, and Pepe are riding Bitcoin's … – Yahoo Finance

0

Bitcoin’s surge toward $35,000 has helped lift a number of altcoins, some of which have recorded double-digit percentage gains over the past week. Although smaller meme tokens often see a jump following a Bitcoin rally, more established altcoins have joined the party.
Solana, branded by some as an “Ethereum killer,” has shaken off a slump caused by frequent mentions in the first weeks of former FTX CEO Sam Bankman-Fried’s ongoing trial. The token notched a gain of 40% over the past week, and as of Wednesday afternoon Solana was trading at $33.28, up 8.3% over the past 24 hours, according to CoinGecko.
The token has been the most popular altcoin for investors in major exchange-traded products so far this year, according to a report by CoinShares. Last week alone, investors poured $15.5 million into the token, an inflow of capital that trailed only Bitcoin's. Last week’s investment puts year-to-date inflows to Solana at $74 million, according to the report.
Other winners from this week’s rally included lesser-known tokens such as Chainlink and Aptos, as well as the meme token Pepe.
Chainlink, a coin with close ties to the decentralized oracle network of the same name, jumped 56.6% over the past week and was trading up 11.7%, at $11.12, on Wednesday afternoon, according to CoinGecko.
Aptos was just behind Chainlink, with a 35% weekly gain. The token was up 6.1% on Wednesday.
And although its valuation is based mostly on hype, the Pepe coin had one of the best weekly performances, gaining 88%—and about 24% over the past 24 hours.
Partly fueling the rally across the board is a bet by investors that the Securities and Exchange Commission will soon approve a spot Bitcoin ETF in the U.S. TradFi giants like BlackRock and Fidelity have already filed applications, and analysts at Bloomberg put the odds of a spot Bitcoin ETF being approved by January at 90%.
This story was originally featured on Fortune.com
Bitcoin's dominance hits 30-month high.
Cryptos have rallied amid hopes that the SEC will approve spot Bitcoin ETFs, but digital assets may also be a haven play, say analysts.
In addition to Gauntlet, his $1 billion company, Chitra also has his own venture capital firm, Robot Ventures.
U.K. lawmakers have approved a bill aimed at enabling law enforcement agencies to seize and freeze cryptocurrency involved in criminal activities.
Taiwan's new bill mandates crypto platform permits, addressing self-regulation gaps.
The launch of spot Bitcoin (BTC) exchange-traded funds (ETFs) could generate at least $14.4 billion in inflows in the first year.
When the crypto market declines and stays stagnant for a significant amount of time, it’s a crypto winter.
Data from Kaiko reveals that exchange de-listings are at record highs, despite bitcoin (BTC) and the wider crypto markets climbing higher this week on renewed spot bitcoin ETF optimism. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."
From FTX moving millions to BTC dominance reaching ATH, here is a 3-minute breakdown of everything important that happened in crypto today.
Leading blockchain forensics firms dispel myths surrounding role of crypto in terrorist financing
There is much more to the Bitcoin bull move than the hype surrounding a potential ETF approval. Evidence is mounting that Bitcoin is not only a trading vehicle but is becoming a real-world currency and a store of value.
Bitcoin is making a solid rebound after a brief pause, which is helping stocks like NVIDIA Corporation (NVDA), Block Inc. (SQ) and Coinbase Global, Inc. (COIN).
Long-term care for seniors is one of the biggest gaps in America's safety net. For many of us, as we get older we will require longer and better care. In some cases, this can mean a health aide or other … Continue reading → The post How to Protect Your Parents' Assets From Nursing Homes appeared first on SmartAsset Blog.
A major change coming in 2027 could boost the retirement savings of millions of lower- and middle-income Americans. The federal government will start matching 50% of retirement account contributions up to $2,000 per year through the new Saver’s Match program. This money injects funds directly into savers’ accounts rather than simply reducing tax bills. For […] The post The Federal Government Will Match Your Retirement Plan Savings By 50%. Here's Who Qualifies. appeared first on SmartReads by Sma
The French payments company cut its financial forecasts on Wednesday, hitting shares of PayPal and Block.
Apple stock is having a rough couple of months with doubts about demand for its new iPhone. The mood is unlikely to be lightened by news it faces a potential ban on imports of certain models of its Apple Watch. The U.S. International Trade Commission on Thursday found Apple (ticker: AAPL) had violated patents held by medical-technology company Masimo (MASI) over measuring blood-oxygen levels.
Jamie Dimon greatly admires Warren Buffett but he’s not following Buffett’s lead as far as his large holding in JPMorgan Chase stock. The 67-year-old Dimon, the longtime CEO of JPMorgan Chase (ticker: JPM) said today in a filing with the Securities and Exchange Commission that he and his family plan to sell a portion of their holdings “for financial diversification and tax-planning purposes” starting in 2024. While Dimon is planning to sell some of his holdings, Berkshire Hathaway CEO Buffett, 93, has never sold a share of his Berkshire stake, although Buffett has given away more than half of it as part of a philanthropic program that started in 2006.
The Q3 earnings season is in full swing, and we’ve already seen the first wave of big tech results. Investors were not thrilled; Google parent Alphabet reported a slowdown in cloud revenues, and the stock market fell sharply on sentiment that Q3 earnings may not be as pretty as predicted. But the outlook is less cloudy for the coming year. In a recent note on current and coming conditions, investment bank Morgan Stanley notes that growth is expected to jump heading into next year: “For 3Q, conse
Advanced Micro Devices' (AMD) third-quarter results are expected to reflect a challenging macroeconomic situation and stiff competition.
(Bloomberg) — The electric-vehicle boom that spawned multibillion dollar startups overnight and pushed Tesla Inc.’s value into the stratosphere is starting to flounder just a few years after it began.Most Read from BloombergHouse Speaker Mike Johnson’s First Big Bill Cuts Biden’s Climate Change FundingUS Military Attacks Two Syrian Facilities It Says Are Linked to IranEverything Apple Plans to Launch at Oct. 30 ‘Scary Fast’ Mac EventChina, US Release Dueling Videos With Accusations of Provocati

source

Leave a Reply

Your email address will not be published. Required fields are marked *