CHILLGUY Goes Boost Guy as Solana Meme Coin Hits All-Time High
The freshly minted Solana meme coin is trading over $0.62 and its market cap rose from $461 million to $621 million in just two days.
Just a Chill Guy (CHILLGUY) isn’t just chilling it’s leading the pack.
Over the past week, the Solana-based meme coin has ballooned by more than 135%, including a 37% jump in the last 24 hours alone.
Now trading at over $0.62, Chill Guy’s market cap rose from $461 million to $621 million in just two days, according to CoinGecko data.
CHILLGUY’s rise began earlier this week when the original meme’s creator, Philip Banks, publicly announced legal action against unauthorized merchandise and knockoff coins exploiting his intellectual property.
Despite the controversy or perhaps because of it CHILLGUY became a viral sensation, attracting a flood of attention.
The meme coin has also racked up over 136,800 holders, according to Solscan data.
It’s not just retail investors triggering CHILLGUY’s surge. On November 25, onchain analytics platform Nansen revealed the meme coin saw $108,450 in smart money net inflows in just 24 hours
Its mascot, a laid-back cartoon dog in a sweater, has struck a chord with Gen Z and millennials, who seem to be pushing for the meme coin to outperform category veterans such as Dogecoin (DOGE) and Shiba Inu (SHIB).
The CHILLGUY rise comes as the crypto space also reacts to another emotional story. Mark Longo, whose pets Peanut the Squirrel and Fred the Raccoon were euthanized in a controversial government raid, launched the “Justice for Pnut and Fred (JUSTICE)” token in their memory.
Longo accused the government of overreach and criticized the crypto community for profiting off his tragedy by launching $PNUT and $FRED.
Meanwhile, JUSTICE has grown to a $28 million market cap with over 22,471 holders, showing the market’s tendency to respond to personal narratives.$CHILLGUY
SPACE-7.76%
CHILLGUY-9.15%
Bitcoin price today: rises to near $96k on optimism over Trump crypto policies.
Bitcoin rose on Thursday, extending an overnight rebound amid growing conviction that Donald Trump’s incoming administration will entail friendlier regulations for the crypto industry.
Overnight gains saw Bitcoin move back towards the coveted $100,000 level, after the crypto failed to breach the level last week. Bitcoin had then logged steep losses as traders locked in recent profits, although the crypto was still trading up over 100% so far in 2024.
Bitcoin rose 3.1% to $95,645.0 by 00:31 ET (05:31 GMT).
Trump to shift crypto regulation to CFTC from SEC- Fox
Trump’s administration wants to shift a bulk of crypto regulatory oversight to the Commodity Futures Trading Commission from the Securities and Exchange Commission, Fox Business reported on Wednesday.
The CFTC oversees the U.S. derivatives market, and is seen as having less strict regulatory standards than the SEC.
A shift in regulators marks some relief for the crypto industry, after the SEC embarked on a regulatory crusade against alleged bad actors in the industry over the past two years. Regular SEC enforcement had also rattled investor faith in the industry, sparking steep losses in crypto prices since 2022.
XRP- whose issuer Ripple has been embroiled in a long-running lawsuit with the SEC- rallied more than 7% on Thursday.
Trump eyes pro-crypto candidate for SEC Chair
Veteran financial regulator Paul Atkins is among the top contenders to replace SEC Chair Gary Gensler from January, Bloomberg reported on Wednesday.
Atkins, who was reportedly interviewed by Trump’s team, is a proponent of digital assets, and is expected to adopt a much friendlier approach to regulation than Gensler.
Gensler, who said he will resign as Trump takes office next year, has been criticized by crypto proponents for regulating the industry through enforcement.
Reports of Atkins’ consideration as SEC chair also came as Trump picked candidates with pro-crypto stances to head the Treasury and as the Secretary of Commerce.
Trump’s Bitcoin strategic reserve has limited prospect- Compass Point
But despite optimism over Trump’s administrative plans for crypto, Compass Point Research argued that the President-elect’s plans for a Bitcoin strategic reserve had limited scope.
The Treasury was unlikely to approve more deficit-driven funding for the government to buy Bitcoin, while Congress- where the Republican party has a small majority- will also be unwilling to increase the U.S. fiscal deficit to purchase crypto.
Compass Point also called the BITCOIN Act, proposed by Senator Cynthia Lummis- a “nonstarter.”
Crypto price today: altcoins track Bitcoin rally
Broader cryptocurrency prices advanced in tandem with Bitcoin on Thursday. World no.2 crypto Ether jumped 5.1% to $3,572.13.
Solana rose 4.2%, Cardano added 5.2% while Polygon rose 4%. Among meme tokens, Dogecoin rose 4.3%.
Bitcoin price today: rises to near $96k on optimism over Trump crypto policies.
Bitcoin rose on Thursday, extending an overnight rebound amid growing conviction that Donald Trump’s incoming administration will entail friendlier regulations for the crypto industry.
Overnight gains saw Bitcoin move back towards the coveted $100,000 level, after the crypto failed to breach the level last week. Bitcoin had then logged steep losses as traders locked in recent profits, although the crypto was still trading up over 100% so far in 2024.
Bitcoin rose 3.1% to $95,645.0 by 00:31 ET (05:31 GMT).
Trump to shift crypto regulation to CFTC from SEC- Fox
Trump’s administration wants to shift a bulk of crypto regulatory oversight to the Commodity Futures Trading Commission from the Securities and Exchange Commission, Fox Business reported on Wednesday.
The CFTC oversees the U.S. derivatives market, and is seen as having less strict regulatory standards than the SEC.
A shift in regulators marks some relief for the crypto industry, after the SEC embarked on a regulatory crusade against alleged bad actors in the industry over the past two years. Regular SEC enforcement had also rattled investor faith in the industry, sparking steep losses in crypto prices since 2022.
XRP- whose issuer Ripple has been embroiled in a long-running lawsuit with the SEC- rallied more than 7% on Thursday.
Trump eyes pro-crypto candidate for SEC Chair
Veteran financial regulator Paul Atkins is among the top contenders to replace SEC Chair Gary Gensler from January, Bloomberg reported on Wednesday.
Atkins, who was reportedly interviewed by Trump’s team, is a proponent of digital assets, and is expected to adopt a much friendlier approach to regulation than Gensler.
Gensler, who said he will resign as Trump takes office next year, has been criticized by crypto proponents for regulating the industry through enforcement.
Reports of Atkins’ consideration as SEC chair also came as Trump picked candidates with pro-crypto stances to head the Treasury and as the Secretary of Commerce.
Trump’s Bitcoin strategic reserve has limited prospect- Compass Point
But despite optimism over Trump’s administrative plans for crypto, Compass Point Research argued that the President-elect’s plans for a Bitcoin strategic reserve had limited scope.
The Treasury was unlikely to approve more deficit-driven funding for the government to buy Bitcoin, while Congress- where the Republican party has a small majority- will also be unwilling to increase the U.S. fiscal deficit to purchase crypto.
Compass Point also called the BITCOIN Act, proposed by Senator Cynthia Lummis- a “nonstarter.”
Crypto price today: altcoins track Bitcoin rally
Broader cryptocurrency prices advanced in tandem with Bitcoin on Thursday. World no.2 crypto Ether jumped 5.1% to $3,572.13.
Solana rose 4.2%, Cardano added 5.2% while Polygon rose 4%. Among meme tokens, Dogecoin rose 4.3%.
The impact of Bitcoin halving events on its price trajectory towards $100k
Bitcoin halving events have historically played a crucial role in shaping the price trajectory of the cryptocurrency, and they are often seen as significant catalysts for price increases. The halving process reduces the reward for miners by half approximately every four years, effectively slowing the rate at which new bitcoins are created and decreasing the overall supply entering the market. This reduction in supply, combined with consistent or increasing demand, has led to price increases in the past, making halvings a key factor in Bitcoin's potential rise to $100k.
Here’s how Bitcoin halvings influence its price trajectory:
1. Supply Shock and Reduced Inflation Rate
Each halving event reduces the block reward for miners from 12.5 to 6.25 BTC (in May 2020) and, in the next halving in 2024, it will decrease further to 3.125 BTC. This reduction in supply effectively creates a "supply shock," as the rate at which new bitcoins enter circulation decreases.
Scarcity Effect: With fewer bitcoins being mined, the scarcity of Bitcoin increases, and if demand remains steady or rises, basic economic principles dictate that the price is likely to rise.
Decreased Inflation: After a halving, Bitcoin’s inflation rate decreases significantly. In 2020, the inflation rate dropped from about 3.7% to 1.8%, and after the next halving, it will fall even further. This lower inflation rate increases Bitcoin's appeal as a store of value, especially in an environment where fiat currency inflation might be rising.
2. Historical Price Patterns Post-Halving
Bitcoin has historically experienced significant price increases after halvings, though the exact timing and extent of the price rise can vary.
2012 Halving: After the first halving in 2012, Bitcoin’s price rose from around $11 to over $1,000 in late 2013, driven by increased demand and the scarcity effect.
2016 Halving: Following the 2016 halving, Bitcoin’s price increased from about $600 to nearly $20,000 in late 2017. This was largely driven by an influx of retail interest, improved market infrastructure, and growing recognition of Bitcoin as a store of value.
2020 Halving: After the May 2020 halving, Bitcoin’s price rose from around $9,000 to its all-time high of $69,000 by November 2021. The 2020 price increase was driven by institutional adoption, macroeconomic factors (such as inflation concerns), and increased visibility of Bitcoin as a hedge against fiat currency devaluation.
These historical patterns suggest that halvings tend to initiate long-term upward price trends, although the price may take several months to a year to fully reflect the supply shock.
3. Increased Media Attention and Speculation
Halving events tend to generate a lot of media attention, which increases public awareness of Bitcoin. This often leads to more retail and institutional investors entering the market, resulting in increased demand and upward price momentum. The anticipation of the halving event itself can also trigger speculative buying, as traders bet on future price increases.
FOMO (Fear of Missing Out): As Bitcoin’s price rises in the months following the halving, more people may feel that they are missing out on potential gains, driving further price increases in a speculative frenzy.
Institutional Recognition: Each halving event has also attracted more institutional attention. In 2020, for example, large institutions like MicroStrategy, Grayscale, and Tesla began purchasing Bitcoin for their balance sheets. This growing institutional involvement adds credibility and increases demand, contributing to Bitcoin's price growth.
4. Market Sentiment and Long-Term Bullish Trends
Bitcoin’s supply-side reduction, combined with a growing recognition of its role as a store of value, has led to long-term bullish trends in Bitcoin’s price post-halving. In the aftermath of each halving, Bitcoin tends to experience a period of price consolidation followed by significant bullish runs, driven by both renewed demand and a lower supply of available coins.
Psychological Effect: Halvings are seen as a positive event in the Bitcoin community, reinforcing the belief in Bitcoin’s deflationary model and its potential to grow in value. The reduced supply of new bitcoins, combined with increasing demand, feeds into a narrative of long-term price appreciation.
Long-Term Bull Market: Halvings, in conjunction with macroeconomic factors such as inflation, interest rates, and institutional adoption, often serve as the starting point for prolonged bull markets. After the 2020 halving, for instance, Bitcoin’s price surged from $9,000 to $69,000 over the next year and a half.
5. Market Liquidity and Volatility
While Bitcoin halvings often lead to price increases, they can also cause short-term volatility in the market. The anticipation of the halving event can lead to price speculation, which might cause sudden swings in Bitcoin’s price before the halving takes place. After the halving, there may be a cooling-off period before the true price impact is realized.
Market Adjustments: Bitcoin's price trajectory toward $100k will depend on how the market reacts after the halving. If demand exceeds supply post-halving, the price could continue its upward trajectory. However, Bitcoin’s volatility means that price corrections are also possible in the months following a halving event, creating potential opportunities for price growth to stall or even retract temporarily before moving upward again.
Conclusion: Bitcoin's Path to $100k Post-Halving
The halving events are an important part of Bitcoin's price trajectory, and they have historically been followed by significant price increases. While the timing and extent of the increase can vary, halvings create a supply shock that, when combined with increased demand, can push Bitcoin toward new price milestones such as $100k.
If the next halving in 2024 follows historical trends, Bitcoin could see a significant price increase in the months or years after the event, especially if other factors like inflation, institutional adoption, and broader market conditions align in Bitcoin’s favor. However, as with all markets, Bitcoin's path to $100k will not be linear, and volatility, regulatory developments, and shifts in investor sentiment will all play a role in determining how quickly it reaches that milestone.
$BTC
November was a record-breaking month for stablecoin trading volume on centralized exchanges (CEX), surpassing $1.8 trillion. Tether's USDT dominated the market, accounting for approximately 70% of the total trading volume .
This surge in trading volume can be attributed to growing institutional confidence in the cryptocurrency market. As a result, stablecoins like USDT have become increasingly popular, offering a hedge against market volatility and providing liquidity.
Tether's USDT has been a standout performer, with its market capitalization growing by 10.5% to $133 billion. Its distribution has also increased by over 9% since the beginning of the year, driven by a surge in demand for Bitcoin.
Other stablecoins, such as USD Coin (USDC) and Ethena's USDe, have also seen significant growth. USDC's market capitalization rose by 12.1% to $38.9 billion, while USDe recorded a 42.2% growth to $3.86 billion.
Overall, the stablecoin market is experiencing rapid growth, driven by increasing adoption and institutional investment. As the market continues to evolve, it will be interesting to see how stablecoins like USDT, USDC, and USDe perform in the coming months.
Social Data ของ Oasis
ในช่วง 24 ชั่วโมงที่ผ่านมา คะแนนความเชื่อมั่นบนโซเชียลมีเดียสำหรับ Oasis อยู่ที่ 1 และความเชื่อมั่นบนโซเชียลมีเดียต่อเทรนด์ราคาของ Oasis มีลักษณะ Bearish ทั้งนี้ คะแนนโซเชียลมีเดียโดยรวมของ Oasis อยู่ที่ 153 ซึ่งถูกจัดอยู่ในอันดับที่ 224 จากบรรดาคริปโทเคอร์เรนซีทั้งหมด
จากข้อมูลของ LunarCrush ในช่วง 24 ชั่วโมงที่ผ่านมา มีการกล่าวถึงคริปโทเคอร์เรนซีบนโซเชียลมีเดียทั้งหมด ครั้ง โดย Oasis ได้รับการกล่าวถึงด้วยอัตราความถี่ 0.02% ซึ่งถูกจัดอยู่ในอันดับที่ 125 จากบรรดาคริปโทเคอร์เรนซีทั้งหมด
ในช่วง 24 ชั่วโมงที่ผ่านมา มีผู้ใช้ที่ไม่ซ้ำกันทั้งหมด 1,226 รายที่พูดคุยเกี่ยวกับ Oasis โดยมีการกล่าวถึง Oasis ทั้งหมด 199 ครั้ง อย่างไรก็ตาม เมื่อเปรียบเทียบกับช่วง 24 ชั่วโมงก่อนหน้านี้ พบว่าจำนวนผู้ใช้ที่ไม่ซ้ำกัน เพิ่มขึ้น ถึง 15% และจำนวนการกล่าวถึงทั้งหมด ลดลง ถึง 18%
บน Twitter มี Tweet ที่กล่าวถึง Oasis ทั้งหมด 1 รายการในช่วง 24 ชั่วโมงที่ผ่านมา โดยใน Tweet ดังกล่าว มี 0% กำลัง Bullish กับ Oasis, 100% กำลัง Bearish กับ Oasis และ 0% อยู่ในสภาวะเป็นกลางกับ Oasis
ใน Reddit มี 29 โพสต์ที่กล่าวถึง Oasis ใน 24 ชั่วโมงที่ผ่านมา เมื่อเทียบกับช่วง 24 ชั่วโมงก่อนหน้า จำนวนการกล่าวถึงเพิ่มขึ้นถึง 12%
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