Web3🌕Monday Buzz: Meme Coins, Solana Expansions, MiCA Stablecoins, and Bitcoin ETF Milestones

The Web3 ecosystem is buzzing with fresh developments! Meme coin DOG surges to a 5-month high amid Dogecoin hype, CAT token expands to Solana, MiCA-compliant stablecoins gain traction, and Bitcoin ETFs hit a milestone, now holding 5% of total BTC supply. From bullish trends to regulatory breakthroughs, today’s updates highlight the dynamic interplay of innovation and opportunity in blockchain. Ready to dive deeper into these trends? Stay tuned for a closer look at what’s shaping the future of Web3.

1. DOG Token surges to 5-month high, fueled by Dogecoin hype & exchange listing hopes.

Bitcoin meme coin DOG has soared 88% this week, fueled by its Kraken futures listing and rumors of a Binance debut. DOG, based on the Bitcoin blockchain, leads meme coin trends, with a market cap of $791M. Launched in May 2024 via an airdrop to Runestone Ordinals holders, DOG now dominates Runes tokens. As BRC-20 tokens overtake Runes in Bitcoin’s fungible token market, DOG's rise highlights growing interest in Bitcoin-based meme coins like PUPS and BDC. Experts predict DOG's success could mirror similar phenomena on Solana and Ethereum, further bridging meme culture and Bitcoin.

Bitcoin Native Meme Coin DOG Jumps to 5 Month High Amid Dogecoin Hype, Exchange Listing Hope - Decrypt

It follows a Kraken futures listing for DOG, which kicked off a major run over the weekend and fueled speculation for further listings.

DecryptVince Dioquino

2. CAT Token expands to Solana, setting a bullish trajectory.

Simon's Cat Token (CAT), linked to the iconic internet cartoon, expands to Solana, raising $240K, surpassing its $100K goal. Early BONK holders gain exclusive access, benefiting from Solana's high-speed, low-cost network and growing memecoin ecosystem. CAT, originally launched on BNB Chain, leverages Solana’s retail popularity to attract new traders. Backed by Simon’s Cat's intellectual property, which generated $5.8B in revenue last year, CAT aims to dominate the cat-themed memecoin market. Up 11% in 24 hours, the token rides a broader memecoin rally, promising more growth through Solana's robust exchange support and liquidity.

CAT Token Expands to Solana, Setting Up Long-Term Bullish Move

The vault has been filled in excess of an initial $100,000 target as of Asian morning hours, with $240,000 worth of stablecoins deposited for CAT on Solana, data shows.

CoinDeskShaurya Malwa

3. Stablecoins backed by Tether, Kraken, & Fabric Ventures align with MiCA compliance.

Quantoz Payments has partnered with Kraken, Tether, and Fabric Ventures to launch two MiCA-compliant stablecoins, EURQ and USDQ, backed 1:1 by fiat reserves. These stablecoins, licensed by the Dutch Central Bank, aim to offer secure digital payments across the European Economic Area (EEA). Slated for release on November 18, they are designed to provide fast, transparent transactions with full regulatory compliance. Kraken and Bitfinex will list them on November 21. Despite backing the launch, Tether's CEO raised concerns about MiCA’s potential risks, especially the requirement for stablecoin issuers to hold a significant portion of reserves in European banks.

Tether, Kraken, Fabric Ventures back new MiCA-compliant stablecoins

Quantoz Payments, supported by Kraken, Tether, and Fabric Ventures, launches EURQ and USDQ stablecoins that are entirely MiCA-compliant for regulated digital payments in the EU.

CointelegraphJosh O’Sullivan

4. Spot Bitcoin ETFs now hold more than 5% of Bitcoin's total supply, according to CryptoQuant analyst.

Bitcoin ETFs have seen significant growth, now holding 5.33% of all mined Bitcoin. From January to November, holdings surged by 425,000 BTC, correlating with price spikes, particularly in March and November. The inflows reached $4 billion in March, coinciding with a price surge to over $73K, and similar activity in November following Trump's election, with Bitcoin hitting a new all-time high of $92K. BlackRock's iShares Bitcoin Trust (IBIT) took in over $3 billion, contributing to the ETF market's expansion. Despite some volatility, ETFs continue to impact Bitcoin's price movements.

Spot Bitcoin ETFs now control over 5% of BTC’s total supply, says CryptoQuant analyst

US BTC ETFs now control 5.3% of Bitcoin’s supply, influencing price trends with significant accumulations and mixed market performances.

Crypto BriefingVivian Nguyen

As Web3 continues to evolve, these developments remind us of the boundless possibilities in crypto and blockchain innovation. Whether it’s bullish moves, new compliance-ready stablecoins, or Bitcoin milestones, the future is bright for decentralized finance. Stay connected with us for more updates, insights, and the latest trends shaping the Web3 space.

WEB3 AI ML