Web3🌗Wednesday Wonders: Solana meme coin Soars, Bitsamp's Singapore License, Bitcoin ETFs Boom, Revolut & MetaMask Merge
1. Dogwifhat, the Solana meme coin, soars 48% outperforming BONK and DOGE.
2. Bitstamp gains in-principle license approval in Singapore.
3. Bitcoin ETFs break records with over $10B in trading volume amid BTC's volatile price.
4. Revolut simplifies Web3 with direct crypto purchases into MetaMask wallets.
Explore more details below!👇
Embark on a thrilling journey through today's dynamic Web3 landscape! From the sensational surge of Solana's Dogwifhat to Bitstamp's regulatory strides in Singapore, and the record-breaking Bitcoin ETF trading frenzy amid market turbulence. Revolut adds to the excitement by enabling direct crypto purchases into MetaMask wallets, streamlining the Web3 experience. Our blog unfolds the latest developments, offering a front-row seat to the rapidly evolving world of cryptocurrencies. Fasten your seatbelts as we navigate through the twists and turns of this Web3 adventure!
1. Dogwifhat, the Solana meme coin, soars 48% outperforming BONK and DOGE.
Solana's Dogwifhat (WIF) meme coin surges 48%, trading over $2.11, exceeding $2 billion in market cap within three months. Anticipation of more exchange listings and retail interest drive gains, especially after Binance records $219 million in WIF trades in the first day post-listing. The meme coin category, with over $1 billion market cap, rises 2.8%, with tokens like myro (MYRO) and mog coin (MOG) surging up to 80%. WIF, featuring a dog wearing a hat, achieves memetic value, becoming the first major meme token surpassing $1 price. Meme coins gain attention amid a broader crypto rally.
Shaurya Malwa
2. Bitstamp gains in-principle license approval in Singapore.
Bitstamp achieves in-principle approval from the Monetary Authority of Singapore for its digital payment token services, marking its 52nd license globally. As the first European exchange with a major presence to secure this license in Singapore, Bitstamp aims to cater to institutions, payment processors, fintechs, and brokerages. The move aligns with Singapore's progressive regulatory framework for crypto exchanges, solidifying its position as a hub for digital assets and financial services convergence. Despite a decrease in trading revenue, Bitstamp continues its growth strategy, emphasizing trust and compliance in key markets, including the Asia-Pacific region.
3. Bitcoin ETFs break records with over $10B in trading volume amid BTC's volatile price.
U.S.-listed spot bitcoin ETFs hit a record $10 billion trading volume in a volatile session, breaking last week's record. BlackRock's IBIT led, trading $3.8 billion, marking extraordinary performance for ETFs under 2 months old. The surge followed Bitcoin's all-time high, resulting in a significant correction of over 10%. Analysts suggest the activity may indicate profit-taking due to heightened volatility or traders capitalizing on Bitcoin's 50% monthly price gain. The impressive trading numbers highlight the growing influence of spot bitcoin ETFs, introduced in the U.S. on January 11.
4. Revolut simplifies Web3 with direct crypto purchases into MetaMask wallets.
Revolut expands its crypto offerings with "Revolut Ramp," collaborating with MetaMask to simplify cryptocurrency purchases. The feature allows users in the U.K. and European Economic Area to top up their MetaMask wallets directly from their Revolut accounts. Customers can utilize fiat currency balances or pay via Visa or Mastercard. The partnership aims to enhance users' control over their crypto assets, fostering broader adoption by leveraging familiar and trusted platforms. Revolut's continuous crypto expansion aligns with plans to introduce advanced trading features, catering to its 40 million customers. The move comes after the company suspended crypto services for U.K. business customers in December, adhering to new FCA regulations.
Lyllah Ledesma
As we conclude this exhilarating ride through today's Web3 headlines, the cryptocurrency realm continues to unveil surprises and innovations. Stay connected with us for in-depth insights, breaking news, and expert analyses on the ever-evolving Web3 landscape. Whether you're a seasoned crypto enthusiast or a newcomer exploring the vast world of decentralized technologies, our newsletters will keep you informed and engaged. The journey doesn't end here; it's an ongoing exploration of possibilities. Join us in unraveling the mysteries and advancements of Web3, where every development adds a new chapter to this captivating narrative. Until next time, embrace the future of decentralized wonders!
