Ethereum

Rally

Memecoin

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-surges-and-memecoins-rally-in-the-crypto-market/" data-wpel-link="internal">Bitcoin Surges and Memecoins Rally in the Crypto Market</a><br></p>
<p class="p1" style="text-align: justify">After nearly three years, <strong><a href="https://coin-turk.com/kripto-para-piyasasinda-son-durum-bitcoin-56-000-dolar-fiyat-seviyelerine-geriledi" data-wpel-link="internal">Bitcoin</a></strong> briefly reached an all-time high above $69,000 on March 5. Kraken’s Managing Director Jonathon Miller called this a truly historic moment for <a href="https://en.coin-turk.com/veteran-trader-forecasts-sharp-drop-for-bitcoin-and-ethereum/" data-wpel-link="internal">Bitcoin</a> and the crypto industry as a whole. The rise in Bitcoin primarily led to significant gains in memecoin projects.</p> 
<h2 class="p1" style="text-align: justify" id="what-s-happening-in-the-crypto-market">What’s Happening in the Crypto Market?</h2> 
<p class="p1" style="text-align: justify">Similarly, Bitcoin’s 56% gain since the start of the year has sparked interest in various memecoin projects. According to data compiled by Bitget Research’s lead analyst Ryan Lee, altcoin projects like <strong>Floki</strong> and Baby Doge provided returns ranging from 80% to 289% in just the past week, with trading volume increasing by 840% during the same period. Lee commented on the issue:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“The rapid rise of assets like Bitcoin and <a href="https://coin-turk.com/ethereum-yorumlari-bitcoin-fiyati-yukselirken-ethereumda-neler-yasaniyor" data-wpel-link="internal">Ethereum</a> has caused a ripple effect that pushed the entire meme sector upwards. A significant factor contributing to the rise in these memecoin projects is their deployment on Ethereum and Solana chains, typically priced in ETH and <a href="https://en.coin-turk.com/solana-announces-pre-orders-for-new-mobile-phone-2/" data-wpel-link="internal">SOL</a> on decentralized exchange platforms. The upward trend in ETH and SOL prices consequently leads to an increase in the value of memecoin projects.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify">On the same day, Dogwifhat <strong>(WIF),</strong> a popular memecoin project in the Solana ecosystem, experienced a dramatic rise with the anticipation of a <a href="https://en.coin-turk.com/binance-accelerates-dymension-dym-trading-options/" data-wpel-link="internal">Binance</a> listing, achieving a 400% gain in just the past week. According to blockchain analysis firm Lookonchain, an investor reportedly earned $4.3 million from WIF just four days after it went online on November 24, 2023, by spending $1,156 worth of 20 SOL.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-323461" src="https://coin-turk.com/wp-content/uploads/2024/03/lookonchain-tweet.png" alt="" width="500" height="649"></p> 
<h2 class="p1" style="text-align: justify" id="noteworthy-development-in-the-bitcoin-ecosystem">Noteworthy Development in the Bitcoin Ecosystem</h2> 
<p class="p1" style="text-align: justify">Despite high prices, development activities in the <strong>Bitcoin</strong> ecosystem continue to heat up. According to Bitcoin venture capital fund 9.Bit, a leading Layer-1 solution in the Bitcoin ecosystem, Bitmap, has created a network-specific BRC-420 metaverse protocol. The founder of 9.Bit commented on the matter:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“After purchasing Bitmap land, users can buy avatars, pets, game assets, and background music from the BRC-420 Marketplace and use them in Bitmap applications.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify">Another feature created by Bitmap is the Merlin Chain, which allows for the exchange of immutable and mutable tokens among BRC-420 assets. The project currently has a market value of $180 million.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-surges-and-memecoins-rally-in-the-crypto-market/" data-wpel-link="internal">Bitcoin Surges and Memecoins Rally in the Crypto Market</a></h5>

Bitcoin Surges and Memecoins Rally in the Crypto Market

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