Bitcoin is on fire, smashing through the $65,000 mark for the first time. This surge has triggered a frenzy in the world of altcoins, with investors seeing big gains. Here’s what’s happening according to Altcoin Buzz:
The analyst notices that expert Geoffrey Kendrick thinks Bitcoin will hit $200,000 by 2025. He says there are many reasons why, like more people wanting Bitcoin and some technical stuff called halving, which makes it harder to get new Bitcoin. He thinks Bitcoin will hit $100,000 by the end of this year, which is a pretty bold prediction.
What is happening in the world of ‘meme coins?’
The analyst said people are going crazy for meme coins like Pepe, Floki, and Bonk. These coins have shot up by over 500% in price, and trading volume has exploded by nearly 3,000% in just a week. Pepe, for example, has seen its trading volume skyrocket, ranking eighth overall.
Pepe’s value has jumped by a massive 400% in the past week alone, reaching a market cap of $3 billion. Bonk, another popular one, has also surged by 190%, nearly hitting its highest price ever. It’s like the Dogecoin craze from 2021 all over again.
Eigen Layer, a fancy term for a decentralized finance (DeFi) platform, has hit a major milestone by locking in over $10 billion worth of assets. This is a huge jump from just $1.1 billion at the beginning of the year.
The platform lets people stake their Ethereum and earn rewards through liquid staking. The big increase in value is because more people are depositing their Ethereum, and there’s excitement about upcoming free token giveaways.
The Clone Protocol makes it easier for people to trade different kinds of tokens on the Solana blockchain. It’s like having all your trading stuff in one place, which makes it simpler and faster. You can use USDC, a type of digital currency, as collateral to trade and borrow money, which is pretty cool.
