While 2024 has only just begun, the crypto world has already received a pleasant surprise with the recent rise in the price of Bitcoin. The value of cryptocurrency has skyrocketed beyond $45,000. This surge could have a positive effect on other cryptos, in particular on the price of Solana.
Bitcoin continues its rise: A new high reaches $45,000
In the space of a day, the value of Bitcoin has exploded the ceiling of $42,000. In the blink of an eye, he broke his own record and even exceeded $45,000. It had already been two years since we had felt such exponential growth on the market. According to CoinMarketCap, in less than 24 hours, its value increased by more than 6%, an increase of 170% in one year.
According to market analyses, the main reason for its growth is related to investor excitement. The latter are impatiently waiting for the Security and Exchange Commission, the American agency which deals with financial markets, to say yes to the approval of spot Bitcoin ETFs. Indeed, this would represent a huge boost for Bitcoin, as it would finally be recognized in the world of mainstream finance.
Cryptocurrency traders and investors are clearly delighted with this development. This sudden jump in Bitcoin is seen as an encouraging sign of its current health and robustness in the market. Attention now turns to the SEC, with anticipation growing over their decision on Bitcoin-related ETF applications.
Solana on the Move: SOL Growth Potential in Response to Bitcoin Momentum
The new jump in value of Bitcoin proves once again that it is indeed the engine of evolution of cryptocurrencies, the number one. When it begins to grow, all altcoins are following suit. This is why experts believe that the recent explosion of Bitcoin could boost Solana.
Moreover, data collected on CoinMarketCap indicates that, in recent weeks, Solana has made a huge jump. On the first day of 2024, its price has increased by 11.53% to reach $113.95.
At the same time, it is important to remember that the beginning of the year has always been a period of growth for Solana. For example, in January 2021 and 2023, it saw significant rises, while in January 2022, it fell due to FTX-related issues.
Recently, Solana took a big step in surpassing XRP in terms of total market value. In December, it increased by more than 30%, surpassing almost all other major cryptocurrencies. This indicates that it has strong potential, especially with the recent rise of Bitcoin.
As a result, the growing interest in decentralized applications on Solana’s network could really help it. It is very possible that Solana will continue to rise, even surpassing the $120 mark soon again, because the room for improvement for SOL is still very large!
XYZ Launchpad
The Launchpad XYZ project is shaping up to be a revolution in the field of digital assets, thanks to its intuitive and user-friendly platform. Intended to demystify the often complex world of cryptocurrencies, NFTs, blockchain games and the Metaverse, it aims to make these cutting-edge technologies more accessible to the general public.
💬 Dive into discussions with fellow traders on #LaunchpadXYZ.
Collaborate, share, succeed. 🚀#TradingCommunity #Web3 #Alts pic.twitter.com/oRkKgRoI9Q
— Launchpad.xyz (@launchpadlpx) January 2, 2024
The pre-sale of the project was a resounding success, raising $2.3 million, which demonstrates the strong interest of the community. Its native token, $LPX, offered at an attractive price of $0.0445, represents a promising investment opportunity.
Thus, with innovative features like an advanced trading terminal equipped with artificial intelligence, Launchpad XYZ aims to redefine user interaction and functionality within the crypto space, thus promising a enriching and simplified experience for its users.
Sources: CoinMarketCap / Launchpad XYZ
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This article does not constitute investment advice in any way. The information provided here should not be used as a basis for making financial decisions. Cryptocurrency investments involve risks and may result in significant losses. You should only invest what you can afford to lose and carry out your own research before making any investment decisions.