Top Altcoins To Buy January 12: ENS, BONK, OP

The euphoria surrounding the approval of spot Bitcoin ETFs has evaporated significantly, leaving the crypto market in a subdued state. One could almost say the news marked the peak, at least for now.

Timeline of Bonk1, Ethereum-name-service, Optimism-ethereum

Widely followed crypto trader Altcoin Sherpa is bullish on one altcoin operating in the Bitcoin (BTC) ecosystem. The pseudonymous analyst tells his 205,000 followers on the social media platform X that Stacks (STX) has more upside potential. “STX: entry at $1.75 or around there would be excellent. Eyes on this one.

Dogwifhat (CRYPTO: WIF) rocketed 124.5% higher on news of ByBit, a cryptocurrency exchange, listing the token. What Happened: ByBit announced that it would list the WIFUSDT Perpetual Contract with up to 25x leverage for trading.

Bitcoin (CRYPTO: BTC) moved higher, with the cryptocurrency prices trading above the key $45,000 level on Tuesday. Ethereum (CRYPTO: ETH) also moved higher, trading above the key $2,200 mark this morning.

In recent weeks, memecoins on the Solana blockchain were witnessing a significant surge in value, achieving new all-time highs amid listings on various exchanges and a growing purchasing interest. Nevertheless, this trend has largely faded.

The Solana (CRYPTO: SOL) based meme cryptocurrency, Bonk (CRYPTO: BONK), has experienced a resurgence, climbing 30% over the past 24 hours after a decline that followed its year-end rally. What Happened: In the last 24 hours, BONK surpassed the performance of other meme coins such as Dogecoin (CRYPTO: DOGE), Shiba Inu (CRYPTO: SHIB), and Pepe Coin (CRYPTO: PEPE), which recorded gains ranging from 5% to 11%.

While these coins have experienced volatility in the past, their future growth remains uncertain. It's essential for investors to stay informed about market trends, news, and any developments related to these cryptocurrencies.

The crypto industry had started the year positively by adding significant value to its valuation. However, the market has experienced a short selling which has resulted in top cryptocurrencies recording correction in their respective portfolio. Further, the BONK price has lost over 10% in the past day, indicating a bear power in the market.

The governance token of the Ethereum Name Service (ENS) experienced a remarkable surge of 72% in value on January 3rd, following an endorsement from Ethereum co-founder Vitalik Buterin.

ENS, which stands for the Ethereum Name Service, witnessed a phenomenal increase of more than 50% in the value of its governance token on Wednesday. The abrupt increase in price may be ascribed to the influential endorsement provided by Vitalik Buterin, one of the co-founders of the Ethereum blockchain.

The Ethereum Name Service token is moving in the opposite direction to crypto markets today following a big endorsement by Ethereum co-founder Vitalik Buterin. As a result, ENS token prices have made double-digit gains while a sea of red surrounds it.