As a seasoned crypto investor with a knack for spotting trends and seizing opportunities, I must say these recent developments have me quite intrigued. The meteoric rise of Bitcoin surpassing Meta’s market cap is nothing short of remarkable. It feels like reliving the early days of the dot-com boom all over again, only this time it’s digital gold leading the charge.
Here are the top three news stories over the past day presented to you by U.Today.
Bitcoin surpasses Meta after surging to $75,000
Bitcoin’s latest surge to a record high of $75,358 has positioned it as one of the world’s top 10 most valuable assets, with its market value reaching approximately $1.482 trillion. This milestone means that Bitcoin’s market cap now exceeds Meta Platforms Inc., Facebook’s parent company, which is valued at around $1.444 trillion. Interestingly, Bitcoin has previously surpassed the market value of Meta in March, during a period when Bitcoin ETFs were performing exceptionally well. So far this year, Meta’s shares have grown by 65%, but Bitcoin’s growth has outpaced this with an increase of over 75%. Currently, Bitcoin is close to overtaking silver, whose market cap stands at $1.774 trillion; to achieve this, Bitcoin would need to add around $300 billion to its current market capitalization.
Dogecoin founder responds as DOGE, BTC skyrocket
In a recent X post, Dogecoin cofounder Billy Markus (also known as Shibetoshi Nakamoto) reacted to the latest price surges of Bitcoin and Dogecoin. Previously, he made a lighthearted prediction, saying that “Bitcoin goes to $69,420, and DOGE goes to $0.16942.” Now, with both digital assets reaching new highs, Markus revisited his previous statement, humorously remarking, “Well, Bitcoin and Doge listened to the prophecy, anyway.” With Bitcoin achieving a record high of $75,000 and Dogecoin rising by over 22%, Markus expressed his excitement about overall positive market trends. At writing time, however, Dogecoin seems to be losing its earlier gains, as it is changing hands at $0.1869, down 6.17% over the past 24 hours, per CoinMarketCap’s data.
Shiba Inu (SHIB) burn rate skyrockets 3,674% amid price revival
As a researcher studying the meme coin market, I’ve noticed that Shiba Inu (SHIB) has been capturing attention due to its impressive growth indicators. One such indicator is the burn rate, which has skyrocketed by an astonishing 3,674% in the last 24 hours, leading to over 53 million SHIB tokens being sent to inactive wallets. This action has resulted in a total of 410,737,117,236,496 SHIB tokens being incinerated, while the circulating supply stands at 583,614,657,016,182 SHIB.
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2024-11-07 19:53