Bitcoin Drops Below $44,000, but ORDI Hits All-Time High
Bitcoin has experienced a significant decline this week, falling below the $44,000 per coin mark it reached earlier in the month. The cryptocurrency is now priced at $42,396, representing a nearly 4% decrease over the past seven days, according to CoinGecko.
Despite Bitcoin’s drop, its blockchain’s most valuable token, ORDI, has been performing exceptionally well. ORDI, minted using the Bitcoin BRC-20 standard, reached a new all-time high on Friday. Over the past seven days, it has seen a surge of over 50% and is currently trading at $79.17. This indicates that investors are still showing interest in the Ordinals craze.
Bitcoin SV Surges by Over 90% in Seven Days
Bitcoin SV (BSV), a fork of Bitcoin that has not achieved much success thus far, experienced a significant rally this week. It is now being traded at $97.80 per coin, reflecting an impressive seven-day increase of more than 90%. As a result, it has emerged as the biggest winner of the week.
Solana Slows Down as Bonk Takes a Hit
Solana (SOL), which made a remarkable comeback in November and December, has slowed down in its growth. Although it has still made gains, it is no longer the fourth largest cryptocurrency by market capitalization after briefly surpassing Binance’s BNB earlier in the week. Currently priced at $103.04 per coin, SOL has only seen a 5% increase over the past seven days.
As a consequence of Solana’s slowdown, its meme token called Bonk has also suffered losses. Bonk is now down by over 22% in the past week, with a price of $0.0000144. Investors who were initially interested in the dog-themed token have now lost interest, causing its market capitalization to drop below $1 billion and its ranking to fall to the 80th largest crypto-asset.
Hot Take: Bitcoin Faces Decline, but ORDI and BSV Shine
While Bitcoin has experienced a decline in value, other tokens like ORDI and BSV have shown remarkable performance. ORDI, minted using the Bitcoin BRC-20 standard, has reached an all-time high, indicating ongoing investor interest. On the other hand, BSV, a fork of Bitcoin that has previously struggled, has surged by over 90% in just seven days, making it the biggest winner of the week. This demonstrates that despite Bitcoin’s volatility, there are still opportunities for significant gains in the crypto market.
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