Overview

Solana (SOL) has surpassed XRP and BNB to become the fourth-largest cryptocurrency, with a market capitalization of $48.4 billion, its highest in 20 months. The total value locked (TVL) on Solana has exceeded $1 billion, the first time since FTX's collapse in November last year.

The trading volume on the DEX platform of the Solana blockchain has increased significantly. On Friday (15/12), Orca, a decentralized exchange, facilitated $746 million in volume, which is a significant increase from the previous month's peak of $100 million. Meme-coins continue to have a significant impact on the crypto market. A recent surge in the value of a popular meme-coins resulted in its value skyrocketing. Like Bonk (BONK), a dog-themed meme-coin that now has a market cap of more than $1.2 billion. Additionally, Bitcoin (BTC) has experienced impressive gains and reached the $43,000 mark.

Bitcoin Price Analysis

Bitcoin (BTC) is exhibiting a sideways trend, fluctuating within the $40,500 to $44,500 range. The $40,000 level continues to serve as a robust support for BTC, showcasing its resilience. Despite ongoing efforts, the market is facing challenges in surpassing the significant resistance at the $45,000 mark.

This pattern indicates a consolidation phase, with traders closely monitoring key levels for potential breakout or breakdown. The persistence of BTC within this range suggests a cautious sentiment among investors, emphasizing the need for strategic observations.

Ethereum Price Analysis

ETH is undergoing a consolidation phase, with prices stabilizing between $2,350 and $2,150. Notably, the ETHBTC chart reveals Ethereum's relative affordability compared to BTC, suggesting a strategic accumulation opportunity, particularly around the $2,150 level. Traders should stay vigilant for potential market catalysts that could influence ETH's value.

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Disclaimer

This material is for general information and is not investment advice, a recommendation, or solicitation to buy and sell any cryptocurrencies, digital assets, securities or derivative instruments, or to make any investments. Mobee is under no obligation to update this report based on information and events that occurred after this report was created and published. Any suggestions or recommendations in this report may not be appropriate for certain users.