Bitcoin (BTC) exceeds the $110,000 line, and there is a sense of happiness in the market. The evidence for this is that three of the five cryptocurrencies with the largest weekly climbing are memokines.
The fact that investors bet money on memokine, a project that has no technical or economic foundation, is a clear indication that their desire for risk is booming.
But we go partially to understand why more money is circulating in the market. The first thing to mention is That Bitcoin hit $111,861, marking a new historic biggest (ATH). Every time BTC takes off, it usually drags the rest of the market with a wave of optimism and a greater desire for risk
At the time of publication of this memo, the currency created by Nakamoto Atoshi is priced at $110,810.
As reported by Cryptonotics, the new maximum is given by a set of factors that constitute a change in the dominant market narrative, such as the accumulation of BTC by companies as reserve assets and the creation of Bitcoin strategic reserves by government and sovereign funds.
Similarly, it should be emphasized that macroeconomic contexts are accompanied. Hopes for interest rate reductions, commercial halts between the US and China, and advances in Ukraine to high fires are to alleviate and reinforce the global uncertainty of risks seen as actions, BTC, extreme ranges, and more.
This is because financial speculators place their holdings on this type of assets in favor of a stable macroeconomic environment, generating greater returns, but are also exposed to market fluctuations. Otherwise, if the situation becomes uncertain, they will take shelter to safer instruments such as treasure ties.
In this context, the SPX6900 (SPX), a memo coin paying homage to the American stock market index S&P 500, recorded a weekly increase of 29%. It was positioned as an asset with the greatest profit During that period, it was within the top 100 cryptocurrencies of market capitalization.
In the second place, hype appeared, with distributed exchange (DEX) high liquid governance tokens increased by more than 26%.
Furthermore, a fartcoin (fartcoin) will be displayed on your back. This is Solana Red’s “tokenized farts” which grows weekly by 22%. Small explanation: “Farting” is no joke, but it is part of the name of the asset. fart (Far) and coin (currency). Official Trump (Trump), the official mimecoin of the US president, rose 21%.
The top five assets with the best uploads each week are completed by Curve Finance tokens Curve DAO (CRV), Ethereum Network’s DEX. Prices have risen 17% over the past seven days.
The truth is that you put your magnifying glass on your assets at the highest rise every week. Helps to have an euphoric sample and risk appetite level Currently among the smallest traders. This is because these are projects that increase prices in seconds and fall with no real foundation to explain these moves than euphoria or fear of investors.
The conclusion is clear: There is no shortage of people who have circulating money and even tokenized farts are encouraged to put it at risk.