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Peter Davis

An writer at FOMOdrive

  • Dec 17, 2023
  • 4 min read

Internet Computer Token (ICP) soars 105% - what's going on?

After 8 weeks of increasing in value, Bitcoin has experienced a correction, dropping by more than 4% in the past week.

Against the backdrop of this situation, altcoins have seen a dramatic increase in value of hundreds of percent.

Blockgraze, a crypto trader, managed to increase their initial investment of $1,000 to an impressive $200,000 by trading the Dogwifhat meme token.

Arthur Hayes and Samson Moe are forecasting that BTC will soon skyrocket to $1 million.

The Securities and Exchange Commission is currently assessing its strategy for identifying Bitcoin Exchange-Traded Funds.

Anthony Pompliano, the founder of Morgan Creek Digital, is of the opinion that Bitcoin follows four-year market cycles that are situated between halvings. He believes that the next stage of growth for the leading cryptocurrency is now commencing.

Researchers at the crypto exchange Bitget predict that the Bitcoin-based NFT market will experience a 100-fold growth by 2024. The ORDI token, as the leading token of the Bitcoin ecosystem, is expected to enter the top 30 by market capitalization during the next bull market. If the BTC ecosystem continues to expand, then the demand for the first cryptocurrency, Bitcoin, could potentially drive its value up to $100,000.

Arthur Hayes, the ex-CEO of the BitMEX crypto exchange, has made a daring statement in the midst of the bullish trend of cryptocurrencies - he believes that Bitcoin will soon be worth $1 million and it's time for everyone to invest. He declared, “Fiat in your pocket is dirty trash.”

CEO Samson Moe of Jan3 believes that after the approval of spot Bitcoin ETFs, the rate of the first cryptocurrency will skyrocket to $1 million in a matter of weeks. He cites the influx of institutional capital and the lack of BTC liquidity in the market as the main reasons for this prediction.

The US Securities and Exchange Commission (SEC) is re-examining its stance on Bitcoin Exchange-Traded Funds (ETFs) in light of recent "court decisions," said SEC Chairman Gary Gensler. He noted that the agency is currently assessing between 8 and 12 such proposals.

The SEC has denied Coinbase's request to create regulations for the cryptocurrency sector. Gary Gensler has stated that existing laws are applicable to the industry and there is no evidence that suggests the necessity of new laws.

A survey conducted by cryptocurrency broker Paxos revealed that 99% of US financial services companies are looking into utilizing blockchain and cryptocurrencies. However, 51% of those surveyed identified market volatility as the primary hindrance to taking part in cryptocurrency-related projects.

The subsidiary AllUnity is being formed by asset management companies Galaxy Digital and DWS Group, as well as Dutch market maker Flow Traders, and will issue a euro-denominated stablecoin.

The ERC-3643 standard for asset tokenization has been embraced by the Ethereum community. This institutional grade security token standard will offer a set of interfaces for the management and transfer of security tokens, as mandated by regulated exchanges.

In the past week, the Internet Computer token (ICP) skyrocketed 105%, propelling it to the 20th spot in the ranking of cryptocurrencies by market capitalization. This surge was triggered by the announcement of a strategic partnership between Internet Computer and Web3, a joint venture between the Gaudi Knowledge Association and The Moon Labs.

Blockgraze, a crypto trader who goes by a pseudonym, was able to turn $1,000 into an impressive $200,000 by trading the Dogwifhat (WIF) meme token. This token is represented by a mascot of a dog wearing a knitted hat, and Blockgraze purchased it in late November after its launch on the Solana blockchain DeFi market.

The meme token Bonk (BONK), based on the Solana blockchain and featuring a dog in its logo, saw its value increase by 100% within a day of being listed on Coinbase. Its market capitalization has now exceeded $1.7 billion.

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