According to Kaito, an AI-based Web3 search platform, the top five cryptocurrency-related keywords that people are most interested in as of the 16th are Ripple, Solana (SOL), Coinbase, Phantom, and Ethereum (ETH).
- Ripple topped the list. On this day, Ripple reached an intraday high of 4,935 KRW on the domestic cryptocurrency exchange Upbit, setting a new record high in KRW. The price of Ripple has been on a rising trend since the beginning of the year, thanks to the possibility of a rate cut due to the U.S. December Consumer Price Index (CPI) announced overnight and a more stable-than-expected core CPI.
- In second place is Solana, which has shown a sharp rise of about 16% over the past four days, crossing the $210 mark. This is the first time Solana has exceeded the $210 mark in 10 days since the 7th. The rise in Solana is attributed to the 'Trump effect.' Recently, the New York Post reported, citing industry insiders, that U.S. President-elect Donald Trump has positively received the idea of designating U.S.-based cryptocurrencies like Solana and Ripple as strategic reserves.
Solana's price also appears to be positively impacted by a proposal by Multicoin Capital to change the token issuance model. On the 16th (local time), Multicoin Capital submitted a proposal to adjust Solana's issuance volume based on staking participation rates to reduce inflation.
- The upcoming inauguration of U.S. President-elect Donald Trump on the 20th (local time) is also considered a factor supporting Ripple's strength. This is because there is speculation that the SEC may withdraw ongoing cryptocurrency-related lawsuits after Trump's inauguration, and Trump has reportedly shown a positive stance on the idea of stockpiling U.S.-based cryptocurrencies like Ripple as strategic assets.
- Coinbase followed. Coinbase announced on its official website today the launch of a USD Coin (USDC) loan service backed by Bitcoin (BTC). The fact that investors can borrow stablecoins without selling Bitcoin seems to have attracted much attention. This program is provided through the on-chain lending protocol 'Morpho' built on the Base.
- Investors also focused on Phantom. The Solana-based cryptocurrency wallet Phantom raised $150 million through a Series C round. The company's valuation is close to $3 billion.
- Investors are also interested in Ethereum, Morpho, USD Coin (USDC), Verachain (BERA), and Litecoin (LTC).
