” What shall we do now ? Running seemed like a good idea. » Like Godzilla, leaving an indelible mark in every city he travels through, Bitcoin has been constantly redefining the financial landscape since the creation of its first block, the “Genesis”.
This analogy is at the heart of the latest Messari report on Bitcoin, describing BTC as an unstoppable force in the global economy. Action !
BTC, the queen of cryptocurrencies
At the start of 2024, reports on cryptocurrencies are pouring in, offering numerous analyzes and other data. Among them, those of Messari, an on-chain data analysis company, stand out. Its latest report, “State of Bitcoin Q4 2023,” which dubs BTC “ the Godzilla of finance » is even making ink flow this morning.
In the latter, Messari predicted a bright future for the queen of cryptos. With events such as halving, the wait for ETF approval, and the development of second-level solutions (layer 2) like the Lightning Network, the year looks promising.
This is also evidenced by the fact that despite a bear market which cooled off a good part of 2023, the Bitcoin rises by 170% YoY, currently trading between $44,000 and $45,000. According to Messari, if BTC reached the parity with goldits price could even soar to $600,000.
Bitcoin, Ethereum and Solana: The War of the Titans in the land of NFTs
But even during the bear market, competition in the cryptocurrency space remains fierce. Bitcoin’s NFT trading volume has surpassed that of Ethereum and Solana combined, setting new records.
This remarkable performance highlights Bitcoin’s continued dominance despite market fluctuations.
“With NFT volume of $881 million in December surpassing that of ETH and SOL combined, registrations (primarily BRC-20s) accounted for over 40% of total transactions in Q4.”
Messari – Source:
However, despite its technical challenges and crypto market fluctuations, Ethereum maintains positive momentum. Likewise, Solana is showing notable performance, gradually eating away at a share of the market previously dominated by Ethereum.
The undisputed queen of cryptocurrencies for some, or the “Godzilla of finance” for others, Bitcoin has undeniably shaken the financial world this year, by promoting progress. As the global economic landscape changes, BTC remains a compelling asset, redefining norms and expectations. This impact is particularly visible in the growing enthusiasm for spot Bitcoin ETFs in the United States.