It may be December, but it doesn’t seem to be the holiday season, at least not in the cryptocurrency world.
Bitcoin got off to a quiet start but hit $44,000 per coin for the second time this month. According to CoinGecko, it is currently trading at $43,815. Over the past seven days, this is an increase of more than 3%.
The largest digital coin by market capitalization continued to rise on news (surprise, surprise) that the long-awaited Bitcoin exchange-traded fund (ETF) is nearing approval. BlackRock’s head of digital assets meets with the SEC’s trading division. and the mayor will discuss its application on Tuesday.
Ethereum (ETH) also had a big week. The second-largest digital asset has now risen for more than seven days and is priced at $2,295.
Accordingly, prices of scaling solutions such as OP (Optimism) and ARB (Arbitrum) also rose, jumping by more than 47% and 19%, respectively, in one week.
The current price of OP is $3.23 and ARB is trading at $1.36.
And Solana (SOL) also continued its rally. This week, the asset overtook XRP to become the fifth-largest digital coin by market capitalization, surging more than 30% in seven days. It is currently closed at $100 per coin and is priced at $96.99.
Ethereum competitors have had tremendous performance this month, and finally, renewed investor interest in SOL and its ecosystem has led to a rise in tokens running on the blockchain.
Solana-based meme coins have been particularly popular. Dog-themed Dogwifhat (WIF), which launched last month and aims to compete with the Shiba Inu (SHIB), soared 242% this week. It is currently trading at $0.27.
Meanwhile, BONK, the meme coin that was a hot topic last week, has cooled down sharply. It is currently priced at $0.00001849 after a surprising rise of 25% over 7 days.
Edited by Ryan Ozawa.
