Bitwise CIO: Solana's monthly decline has reached 42%, the market is digesting the fading craze of Meme coins
Bitwise's Chief Investment Officer, Matt Hougan, pointed out that the price of Ethereum has fallen by 23% in the past month, while Solana, the token carrying most of the Meme coin blockchain, has dropped by 42%. Cryptocurrencies are currently digesting the end of the Meme coin craze. The market will continue to be dragged down until institutional interest in cryptocurrencies recovers. In addition, traders are becoming increasingly frustrated because Trump did not implement some of his promised reforms during his campaign more quickly. Due to slower-than-expected rollout of major cryptocurrency-supportive policies, market sentiment is turning towards disappointment. (FT)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Schneider Electric expands its software portfolio again! Plans to spend over $20 billion to acquire US engineering software developer PTC (PTC.US)
According to a person familiar with the matter, Schneider Electric is close to reaching a deal to acquire U.S. engineering software developer PTC for more than 20 billions USD.
WTI drops to near $89.00 as OPEC+ holds November targets
BUZZ - TSMC shares rise 3% after Elon Musk confirms negotiations on the TeraFab project
October 5th – Elon Musk confirmed discussions with TSMC (2330.TW), prompting a 3% increase in the company’s share price. The Taiwan Stock Exchange Weighted Index (.TWII) rose by 2.4%. Tesla (TELA.O) and SpaceX (SPCX.O) CEO Musk stated on Saturday via X platform that TSMC and his chip manufacturing project, Terafab, have discussed potential collaboration. In response to a post on X featuring a screenshot of an article titled “TSMC is exploring plans to cooperate with Elon Musk’s TeraFab,” Musk replied on Saturday: "It is only at the discussion stage for now, but something could result." TSMC’s share price has increased by 66% so far this year. (For the convenience of non-English speakers, Reuters automatically translates its reports into several other languages. As automated translations may contain errors or lack needed context, Reuters does not guarantee the accuracy of the automated translated texts. They are provided merely for the convenience of readers. Reuters bears no responsibility for any damage or losses resulting from the use of the automated translation function.)
Crypto prices
More
