After Trump issued a cryptocurrency, his wife Melania stated on social media early in the morning that people can now buy the Meme coin MELANIA. Data shows that the circulating market value of MELANIA is currently $7.58 billion. Trump retweeted this information. Previously, he had issued his own exclusive cryptocurrency TRUMP, which plummeted after his wife announced the issuance of MELANIA, briefly falling below $40 before rebounding, and is currently back up to $42.
▌BTC falls below $100,000
Market data shows that BTC has fallen below $100,000, currently quoted at $99,991.38, with a 24-hour decline of 4.34%. The market is highly volatile, so please manage your risk carefully.
$Very few people have thought that the birth of Meme coins might be a 'cultural experiment' in the crypto world: how much can a joke be worth? How much financial turbulence and ripples can a humorous quip cause? From DOGE to SHIB, and now to this year's skyrocketing $Neiro, these seemingly 'nonsensical' coins have repeatedly refreshed people's views on the narrative capabilities of Meme coins.
In 2024, the Meme coin market remains bustling amidst uncertainty. It is not just an entertainment symbol in the crypto circle, but has also become a paradise for speculators and a barometer of market sentiment. However, if we peel back the stories behind the price surges, we will find that there are familiar yet strange logics driving this carnival: Meme culture, market sentiment, and technological narratives are redefining the value boundaries of Meme coins.
1. How do Meme coins tell a good 'emotional story'? On the surface, Meme coins are a continuation of internet meme culture, but their true charm lies in their ability to quickly gather emotions through storytelling, shaping short-term 'group fervor.' However, no one has yet been able to uncover the fog to find the multitude of certainties and connotations composed of stories within that 'bubble' regarding the long-term value of Meme coins.
It is a joke, but also a cultural resonance.
The original $DOGE Dogecoin can be said to be a thorough 'parody.' It had neither complex technical support nor ambitious application plans, but through a Shiba Inu meme, it became the spokesperson for internet meme culture. In 2024, this meme narrative is further promoted, where new players not only attract attention through 'jokes' and 'humor' but also begin to play the cultural emotional card. #特朗普上台概念币有哪些?
For example, Pepe the Sad Frog, whose frog image has long been a classic in internet culture, relies not on technical highlights but on community spread and cultural identity for its popularity. In a short time, the community size of Pepe has explosively grown, jumping to become this year's biggest dark horse in the Meme coin space. It is not hard to see that as long as one can grasp the 'emotional points' in internet meme culture, Meme coins can quickly tell a good story and bring in consensus.
The Bitcoin hash rate (the total computing power protecting the Bitcoin network) reached a historical high of 1,000 EH/s on January 3, nearly double the network hash rate from 12 months ago. According to CoinWarz data, in January 2024, Bitcoin's hash rate hovers around 510 EH/s. As of the time of publication, Bitcoin's hash rate has fallen back to about 780 EH/s.$BTC
FTX officially announces that the bankruptcy plan has taken effect, with the first round of compensation expected within 60 days
FTX officially announced that the bankruptcy plan formally took effect on January 3 local time. According to the previously disclosed bankruptcy plan, the first round of compensation is expected to be made within 60 days. Bitcoin hash rate reaches all-time high According to CoinWarz data, the Bitcoin hash rate (the total computing power protecting the Bitcoin network) reached a historic high of 1,000 EH/s on January 3, nearly double the network hash rate from 12 months ago. CoinWarz data shows that in January 2024, Bitcoin's hash rate hovered around 510 EH/s. As of the time of publication, Bitcoin's hash rate has fallen back to about 780 EH/s.
Two key narratives dominated crypto headlines in 2024: Bitcoin’s meteoric rise, driven by the launch of a Bitcoin ETF and record inflows, and Solana’s rise to retail darling, driven by meme coin speculation.
This has left Ethereum — the world’s second-largest crypto asset — largely overlooked. Sure, its 66% year-to-date return is decent in absolute terms, but pales in comparison to Solana’s 106% and Bitcoin’s 130%.
But something interesting has happened recently: Over the past 10 days, investors have become interested in Ethereum again.
You can see this clearly in spot Ethereum ETFs, which have attracted a whopping $2 billion in net inflows during this time. By comparison, the same ETFs saw just $250 million in net inflows in the first four months. $SOL
- Technical and Ecological Issues: The development of Layer 2 ecosystems has improved transaction performance, but has significantly diverted users and funds, diluting the value of the Ethereum mainnet. The reduced blob fees after the upgrade have lowered transaction costs, but weakened the rate of ETH destruction, leading to rising inflation. Additionally, compared to the past, Ethereum did not lead any significant technological breakthroughs in 2024. - Market Competition and Insufficient Narrative: Solana has become the main battleground for meme coins due to low costs, fast transaction speeds, and infrastructure like pump.fun, attracting a large number of retail investors and social media attention. Its narratives, such as "animal rescue," resonate with the public's emotions, while Ethereum's Layer 2 narrative is overly technical, making it difficult to evoke emotional resonance among investors. - Strengthening of Bitcoin's Dominance: Bitcoin's market dominance has shown a steady upward trend in 2024, with increased investor preference for Bitcoin, leading to a relative decrease in capital allocation to Ether, and the ETH/BTC ratio continues to decline.
Recent Reasons for Investor Interest in Ethereum
- Promotion of Spot Ethereum ETFs: Spot Ethereum ETFs have recently attracted net inflows of up to $2 billion, while the net inflow for the previous four months was only $250 million. The significant influx of funds indicates a marked increase in investor interest in Ethereum, which may also attract more investors to follow suit and buy in. - Accumulation of Ethereum's Technology and Applications: In the long run, Ethereum's Layer 2 and restaking technologies provide a solid foundation for large-scale applications. Its strong technological accumulation and wide range of application scenarios still exist. As the market further recognizes and explores its technology and applications, investor confidence in Ethereum is gradually recovering. - Changes in Market Environment: The entire cryptocurrency market is continuously evolving and changing, and investors' portfolios are also constantly adjusting. With assets such as Bitcoin and Solana experiencing significant increases in 2024, some investors may shift their focus to Ethereum, which has relatively smaller gains but potential, in search of a more balanced investment portfolio and potentially higher returns.
As of December 6, 2024, the total value locked (TVL) in multi-chain DeFi is $134.6 billion, an increase of over 59% from the $84.6 billion level in August. Although this figure is still 38% below the historical peak of $186.8 billion reached in December 2021, it has shown a clear upward trend, partly attributable to the widespread increase in asset consolidation, such as the new highs in wrapped assets like Ethereum and Bitcoin. Additionally, favorable external cryptocurrency policies have contributed to this upward trend. The lending volume—measuring the value of unpaid debts in lending protocols—is currently $18.8 billion. This is nearing the peak levels of $20 billion seen in March and November 2021. The rising demand for loan leverage has directly contributed to the prosperity of the DeFi ecosystem.
On December 4th, Powell stated in his speech that the Federal Reserve has not yet achieved its goal of reducing inflation, but is still making progress in bringing inflation down. The rising price level has led to public dissatisfaction, and while the employment situation looks good based on the number of jobs, low-income groups are under pressure. These remarks are in line with expectations for another 25 basis point rate cut in the U.S. in December. He also mentioned in his speech that Bitcoin is viewed as a speculative asset, with its main competitor being gold rather than the dollar.
Ripple's native token XRP has once again attracted the attention of the global cryptocurrency market. Recently, the price of XRP surged rapidly, reaching $2.42 per coin, with a market capitalization exceeding $137 billion, making it the third-largest cryptocurrency by market cap globally.
This wave of growth is not coincidental, but rather the result of multiple forces working together, including favorable market policies, technological innovation, and the ongoing development of the global cryptocurrency sector.
DOT breaks $10, then take profit on 30% of the position, the next target is $12, congratulations to the brothers in the ride [celebrate] In a bull market, just buy and hold, and take profits in batches when appropriate
According to PANews, AIDAv2 announced a strategic partnership with the well-known security auditing organization Beosin, aiming to enhance the platform's security and user trust. Through Beosin's rigorous audit, AIDAv2 has successfully verified its security compliance, providing users with stronger protection. This collaboration will provide AIDAv2 with ongoing security assessments and risk detection services, ensuring effective protection of user assets in a rapidly changing market environment. AIDAv2 hopes to set a new standard for security in the field of digital asset management through this partnership, further enhancing the safety of user investments.