Huge Bitcoin (BTC) Volatility, Ripple (XRP) Milestone, Solana Meme Coin Resurgence: Bits Roundup for January 12th

TL;DR

• The price of Bitcoin fluctuated wildly, influenced by the mixed signals from the US Securities and Exchange Commission regarding the approval of BTC ETFs, with fluctuations from $45,000 to $49,000.
• Ripple's XRP has seen user wallet growth due to increased interest and activity on the network.
• Solana-based meme coins including Dogwifhat (WIF) and Myro (MYRO) saw significant price increases, with WIF rising 4,800% in a month.

BTC’s price fluctuations recently

The price of Bitcoin has experienced a roller coaster ride in the last few days, influenced by the historic approval of a multiple-spot BTC ETF in the United States.

The US Securities and Exchange Commission (SEC) on January 10 gave the green light to applications from BlackRock, Valkyrie, VanEck, Fidelity, Franklin Templeton and other financial giants. Shortly thereafter, the link to the announcement on the SEC website was removed, leading to…confusion and BTC’s decline to as low as $45,000. After the information was republished on the SEC website, the price of the asset rose to around $46,000.

Bitcoin experienced even greater volatility yesterday (January 11). As CryptoPotato reportedIt climbed to $49,000 (a price last reached in early 2022), with ETFs comprising a cumulative volume of several billion dollars.

The impressive rally was short-lived, and that was true for Bitcoin crashed down by $3,000 to under $46,000. The total value of liquidated positions jumped to over $300 million in 24 hours, hurting overly leveraged traders. The asset's value is currently around $45,600 (according to data from CoinGecko).

If you're curious about whether BTC could reach a new all-time high this year, check out our video below:

What's new about Ripple (XRP)?

Ripple's XRP recently reached An important milestone: The number of XRP wallets has exceeded the 5 million mark. This success is due to a significant upward trend throughout 2023. At the beginning of last year the number was around 4 million.

An increase in XRP wallets could indicate growing interest and participation in the Ripple network, which could lead to additional investor confidence.

On-chain metrics have also been solid recently, such as the number of XRP transactions executed (daily). remain has been over the 4 million mark since the beginning of 2024.

Solana meme coins in the spotlight

Solana meme coins Dogwifhat (WIF) and Myro (MYRO) turned heads after posting significant gains. The former is up 115% in the last seven days and an incredible 4,800% on a monthly basis. A few hours ago it exceeded the $0.30 mark after one bybit listing but later fell to the current level of $0.23.

WIF price, source: CoinGecko

MYRO for his part climbed to an all-time high of nearly $0.12 while its market cap exceeded $100 million.

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