China News Daily Official TheBitTimes.com

The dominance of memecoins in the altcoin market has significantly declined since April, with analysts suggesting a shift from speculative trading to focusing on fundamentals.  Despite this trend, memecoin liquidity has doubled since the start of the year, reaching an all-time high of $128 million in early June. This surge in liquidity, even amid declining dominance, indicates a complex market sentiment shift. Data from on-chain analytics firm CryptoQuant shows that memecoins in the altcoin market are facing a steady decline. Ki Young Ju , the founder and CEO of CryptoQuant , highlighted on X (formerly Twitter) the marked decrease in memecoin dominance from September 2022 to May 2024.  Picks for you Opportunity? Gold/silver ratio to bottom in, fuelling gold upwards 2 hours ago ...

Explore the dynamics behind Bitcoin’s bullish run and the growing anticipation around a U.S.-based Bitcoin ETF. A deep dive into market trends and predictions. Over the past few days, Bitcoin (BTC) has demonstrated significant resilience and growth, marking a noteworthy trend in the cryptocurrency market. Amid a surge in trading volume, BTC price reached its fresh 52-week high of $37,926 on Nov.9. However, amid the volatility, the price retraced and trading at $37,100 as of Nov. 10. BTC price chart | Source: CoinMarketCap This recent rise is partly attributed to a “short squeeze” – a market phenomenon where the price of an asset jumps higher than expected, forcing short sellers to cover their positions, further driving the price upward.  The ripple effects of Bitcoin’s surge were also felt in the U.S. stock market, particularly among crypto-centric companies. Shares of prominent firms such as Coinbase and MicroStrategy showed notable increases, w...