It may be December but it sure doesn't feel like the holiday season – at least not for the crypto world, anyway.
Bitcoin went dormant but hit $44,000 per coin for the second time this month. It now trades at $43,815 according to CoinGecko. Over the past seven days, that's an increase of more than 3%.
The largest digital coin by market capitalization continues to grow on the news (surprise, surprise), that the long-awaited position of a bitcoin exchange-traded fund (ETF) may be close to approval: BlackRock's head of digital assets met with the SEC's trading division. And on Tuesday to discuss the application of markets.
Ethereum (ETH) had a rough week. The second largest digital asset is now up for more than seven days, at $2,295.
As a result, benchmarks such as Optimism (OP) and Arbitrum (ARB) also surged in value, jumping over 47% and 19% on the week, respectively.
OP is now trading at $3.23, and ARB is trading at $1.36.
And Solana (SOL) continues to rally. This week, the asset XRP became the fifth largest digital coin by market value and has increased more than 30% in seven days. It is now closing at $100 per coin and the price is at $96.99.
The Ethereum competitor has had a great run this month – and finally, renewed investor interest in SOL and its ecosystem has led to an increase in blockchain-based tokens.
Solana-based meme coins have been particularly popular: the dog-themed Dogwifhat (WIF), which launched last month and aims to compete with Shiba Inu (SHIB), has exploded by 242% this week. It is currently trading at $0.27.
Meanwhile, BONK, the meme coin that was the talk of the town last week, has just cooled down: it's now down 25% in seven days, entering at $0.00001849 after an impressive rally.
Edited by Ryan Ozawa.
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