Bitcoin Hits $44,000 and Solana Surges: Crypto Market Review

December may not feel like the holiday season for some, but the crypto world is certainly heating up. Bitcoin saw a surge in value, hitting $44,000 per coin for the second time this month, and is currently trading at $43,815. This marks a 3% increase over the past seven days. The news of a potential approval for a spot Bitcoin exchange traded fund (ETF) has contributed to the continued rise of the largest digital coin by market cap. BlackRock's Head of Digital Assets recently met with the SEC's Division of Trading and Markets to discuss the ETF application, adding to the anticipation surrounding its approval.

Ethereum, the second largest digital asset, also had an impressive week. It is now priced at $2,295, representing an increase over the past seven days. Additionally, Solana, a rising star in the crypto world, continued its rally. This week, it surpassed XRP to become the fifth largest digital coin by market cap. With a surge of over 30% in seven days, Solana is now closing in on $100 per coin, currently priced at $96.99.

Investor interest in Solana and its ecosystem has been on the rise, leading to significant gains for tokens running on its blockchain. Memes coins based on Solana, such as the dog-themed Dogwifhat (WIF), have gained popularity. WIF, which launched just last month as a competitor to Shiba Inu (SHIB), saw a remarkable increase of 242% this week, now trading at $0.27. On the other hand, Bonk (BONK), the meme coin that garnered attention last week, experienced a cooling down period. Over the past seven days, it has dropped by 25% and is currently priced at $0.00001849 after a phenomenal rally.

Overall, the crypto market is showing signs of excitement and potential growth as we approach the end of the year. Bitcoin's resilience and the anticipation surrounding the ETF approval, combined with the impressive performance of Ethereum and Solana, are indicative of a vibrant market that continues to attract investor interest. The rise and fall of meme coins like WIF and BONK showcase the volatility and unpredictable nature of the crypto space. As we head into the new year, it will be fascinating to see how these trends continue to evolve and shape the future of cryptocurrencies.