Bitcoin’s (BTC) price experienced fluctuations following a false approval of multiple spot BTC ETFs in the United States. The U.S. Securities and Exchange Commission (SEC) appeared to approve applications from financial giants on January 10, causing initial excitement.
However, the SEC later removed the announcement link from its website, leading to confusion and a drop in Bitcoin’s price to as low as $45,000. Bitcoin’s volatility continued, with a surge to $49,000, a price last seen in early 2022, before retreating by $3,000 to below $46,000.
The liquidation of overleveraged positions resulted in losses exceeding $300 million within 24 hours. Meanwhile, Ripple’s XRP reached a significant milestone, with the number of XRP wallets surpassing 5 million, reflecting a substantial increase from around 4 million at the beginning of the previous year.
This growth in XRP wallets suggests increased interest and participation in the Ripple network, potentially boosting investor confidence. On-chain metrics remain strong, with the number of XRP transactions consistently above 4 million since the start of 2024.
In the meme token space, Solana-based tokens dogwifhat (WIF) and Myro (MYRO) made headlines with significant gains, with WIF surging by 115% over seven days and an astonishing 4,800% monthly increase, briefly surpassing $0.30 before falling back to $0.23.