The past weekend brought significant developments to the crypto industry, with three major news stories capturing the attention of enthusiasts and investors worldwide.
1. Solana (SOL) Surpasses Binance Coin (BNB) to Claim Fourth Place
On Sunday, December 24, Solana made waves by overtaking Binance Coin (BNB) in market capitalization, securing the coveted fourth position on CoinMarketCap’s ranking. Solana‘s market capitalization now stands at $50 billion, surpassing BNB’s $40.6 billion. This achievement coincides with a broader crypto market rally, propelling SOL‘s price to $119—a remarkable 67.3% increase over the past seven days. Notably, Solana has outperformed major cryptocurrencies like Bitcoin and Ethereum in trading volumes on Coinbase (NASDAQ:COIN) and experienced a staggering 3,078% higher volume than Ethereum in decentralized exchange (DEX) activity.
2. Bitcoin (BTC) Hits New Milestone with 50 Million Addresses
In a significant milestone, Bitcoin‘s total number of addresses surpassed 50 million, underlining the increasing user adoption and broader acknowledgment of Bitcoin as a legitimate asset class. With the average holding per Bitcoin user now approximately $16,000, this milestone carries implications for future price performance. The recent all-time high reached by Bitcoin reflects the confidence that users and investors have in the leading cryptocurrency. The growing number of addresses serves as a bullish indicator, suggesting a solid foundation for future growth.
3. Shiba Inu (SHIB) Witnesses Massive Token Withdrawal
Shiba Inu experienced a noteworthy event as over eight trillion SHIB tokens, equivalent to approximately $88 million, were withdrawn from exchanges. This substantial shift in token distribution may signal changes in investor sentiment towards Shiba Inu. Detailed analysis indicates diversified activity within the SHIB trading community, with transactions in the $0.00 to $1.00 range increasing by 25.71% over 30 days. Larger transactions above $1 million rose by 150%, showcasing active engagement from both retail and large-scale investors. The highest recorded transaction volume in a single week reached 15.34 trillion SHIB, amounting to $158.1 million, highlighting the dynamic nature of SHIB’s market participation.
