BONK Leads to Solana Saga Phone Sales Spike, Arbitrum Outage

Name: FS Insight
Price range: $$$

Dec 15, 2023

BTC -0.80% ETH 3.76% INJ 5.34% OSMO 0.62% TIA 2.28%

Market Update Equities are mixed today but on track for the seventh straight week of gains, the longest winning streak since 2017. The Nasdaq gained .38% while the S&P fell .49%. Both indices are in striking distance of all-time highs following comments from Fed officials about inflation coming down and potential rate cuts in 2024. $BTC has pulled back to $41.8k, down 3.3% after facing resistance at $43.4k. $ETH is performing in line with $BTC, falling 3.2% to $2.2k. Solana’s top memecoin $BONK has outperformed the top 100 on both daily (+79.2%) and weekly timeframes (136.9%). Momentum that started on chain continued with major CEX listings, after an initial sell-off the rally continued following a listing on Coinbase. Three of the top five weekly performers were Cosmos based assets, driven by investors buying network tokens to stake for potential airdrops. Decentralized exchange $OSMO and layer-ones $INJ and $KUJI were the top beneficiaries. The run was preceded by $TIA climbing over 6x from its airdrop price, also due to anticipation of potential airdrops for stakers. Sales of Solana’s Saga phone have exploded, largely due to the Solana-based memecoin $BONK. New phone owners are receiving an airdrop of 30 million BONK tokens, valued at approximately $700, which is more

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, or FSI Crypto subscription is required in order to access this content.

*Free trial available only on a monthly plan

Already a member?

Reports you may have missed

FSInsight Puts Ethereum At $12,000 EOY, Bullish Forecast For Bitcoin

Crypto Receives a Boost from Strong Jobs Print, WULF Sells Hash Rate to Expand AI Capabilities

Market Update

By Sean Farrell • Oct 4, 2024

CRYPTO MARKET UPDATE The crypto market is moving higher today, lifted by stronger-than-expected jobs numbers. The BLS reported 254k jobs added last month, far exceeding the market estimate of 140k, while August's figures were revised up from 142k to 159k. The unemployment rate also dropped to 4.1% from 4.2%. In response, rates rallied, the DXY spiked, and the futures market largely priced out the possibility of a 50 bps rate...

BTC -0.80% ETH 3.76% RENDER 4.07% SOL -2.90% STX 4.61% TAO 3.17% TIA 2.28% WIF 3.65% XMR 0.17% WULF

Bitcoin will hit $200,000 in the second half of 2022, predicts FSInsight

Visa Unveils Tokenization Platform, SEC Appeals XRP Decision

Market Update

By Tom Couture • Oct 3, 2024

MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC -0.80% falling to $60k and ETH 3.76% approaching the low $2,300s. Aptos (APT 5.28% ) is one of the few gainers in the top 100 tokens as they have strengthened their presence in Japan via an acquisition of HashPalette, a Japanese NFT service provider and developer of Palette Chain. AAVE 8.16% is also showing slight gains following...

AAVE 8.16% APT 5.28% BTC -0.80% ETH 3.76% TOTAL XRP 7.92%

Invesco ditches its plan to launch a US bitcoin futures ETF any time soon, just before the first-ever makes its debut

Bitwise Files for XRP ETF, Crypto Prices Bounce as Oil and Gold Retrace

Market Update

By Sean Farrell • Oct 2, 2024

CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -0.80% climbing back above $61,000 and SOL -2.90% moving above $145, while ETH 3.76% is lagging, trading around $2,400. Among today's outperformers is SUI -3.09% , which appears resilient despite a $115 million token unlock yesterday. Oil is partially retracing its early rally, gold is lower on the day, and yields are moving higher, suggesting at least a temporary reversal of...