Analysts Favor Solana, Ethereum's Supply Dynamics; Call Bitcoin 'Godzilla Of Finance': Messari Report

Bankruptcies, lawsuits, wins for the SEC, losses for crypto operators, bad actors and the spot Bitcoin ETF approval: the crypto space in 2023 was an eventful and remarkable year. In its latest report, Messari highlighted crypto and its relevance in 2024.

Timeline of Bitcoin, Ethereum, Solana

A cryptocurrency has managed to turn just 4 Solana (SOL) tokens into 2,250 SOL woth around $245,000 in just five days to make an impressive gain of over 56,000% after they spotted a meme-inspired cryptocurrency that had just started trading.

The U.S. Securities and Exchange Commission (SEC) has met with officials from major exchanges to discuss spot bitcoin exchange-traded funds (ETFs). Sources close to the proceedings say the securities regulator could begin notifying issuers of spot bitcoin ETF approval on Friday and trading could begin as early as next week.

TechCrunch senior crypto reporter Jacquelyn Melinek claimed on Jan. 4 that regulators will approve more than one spot Bitcoin ETF at once. Melinek posted to Twitter/X: “[I have] heard from sources extremely close to the matter that the bitcoin spot ETF is going to be approved by the SEC for multiple firms' applications.

The mysterious ascent of a Bitcoin wallet, believed to be linked to Tether, has caught the attention of the crypto community as it now stands as the tenth-largest holder of Bitcoin. This notable rise occurred following the accumulation of 8,888 bitcoins from Bitfinex as the year came to a close.

Marathon Digital achieved a record-breaking production of 1,853 Bitcoin (BTC) in December 2023, marking the highest monthly total ever recorded by a public BTC mining company. The growth represents a significant 290% year-over-year increase and a 56% rise from the previous month.

Popular crypto analyst Altcoin Sherpa names two altcoins he believes will soon soar to values last reached in 2022. The pseudonymous analyst tells his 204,300 followers on the social media platform X that Stacks (STX) could soon soar beyond its recent high of $1.73, a level it hasn't traded above in nearly two years.

Following numerous proclamations of bitcoin's demise in 2021 and 2022, totaling 47 and 27 on the Bitcoin Obituaries list respectively, a mere eight declarations were noted in 2023.

Tuttle Capital Management, a notable ETF issuer, has taken an assertive step into the evolving landscape of digital assets by filing for six leveraged and inverse Bitcoin exchange-traded funds (ETFs) with the U.S. Securities and Exchange Commission (SEC).

The race for the spot Bitcoin ETF is at its peak, as Valkyrie has filed a registration with the US Securities and Exchange Commission (SEC) for its spot Bitcoin ETF. This move follows similar actions taken by several other applicants, including Fidelity, Grayscale, and VanEck, increasing the likelihood of multiple approvals early next week.

A recent report revealed a significant gap between advisor expectations and market analysts' predictions regarding the approval of a spot Bitcoin ETF (exchange-traded fund) in 2024.