Bitcoin recently surged to a new all-time high of $93k, leaving investors anticipating the next rally, possibly past $100k.
Bitcoin price recently hit a new all-time high of $93,495. This record-breaking price has not only excited investors but also sparked a new trend in the crypto market.
Bitcoin memecoins are emerging as a high-risk, high-reward alternative to direct BTC investment. These meme coins are attracting traders who want to capitalize on the excitement surrounding Bitcoin's rally.
According to CoinDesk, some of these tokens have seen impressive gains in the past 24 hours. Smaller tokens, such as CYPHER GENESIS (CYPHER), have surged by 50%.
Data from CoinGecko shows that the interest in Bitcoin-based meme coins is coinciding with a shift in the underlying infrastructure.
The Runes protocol, a platform for creating fungible tokens directly on Bitcoin, has reportedly overtaken BRC-20 in market capitalization.
Launched in early 2024, Runes utilizes Bitcoin's Unspent Transaction Outputs (UTXOs) model to enable the creation of fungible tokens without congesting the network.
In contrast to BRC-20, Runes aligns more closely with Bitcoin's native transaction structure, which could reduce the accumulation of UTXOs. However, on-chain data shows no immediate increase in usage metrics for Runes.
Bitcoin meme coins are a high-risk, high-reward bet on the world's largest cryptocurrency. While they can offer traders the potential for substantial gains, it's crucial to proceed with caution and be prepared for the possibility of significant losses.
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