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Solana Flips Binance Coin to Become Fourth Biggest Crypto, Bitcoin Reaches New All-Time High, Shiba Inu Sees 8 Trillion Token Withdrawal: Crypto News Digest by U.Today

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Solana Flips Binance Coin to Become Fourth Biggest Crypto, Bitcoin Reaches New All-Time High, Shiba Inu Sees 8 Trillion Token Withdrawal: Crypto News Digest by U.Today

This weekend was quite eventful for the crypto industry, so check out the top three news stories by U.Today to stay updated.

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Solana (SOL) flips BNB to become fourth biggest coin

On Sunday, Dec. 24, Solana registered an important new milestone: it surpassed Binance Coin in terms of market capitalization, taking fourth place in CoinMarketCap’s rating. Currently, Solana’s market capitalization is standing at $50 billion, while BNB is trailing behind with $40.6 billion. The achievement comes at the time of a broader rally on the crypto market, with SOL’s price hitting $119, marking an impressive 67.3% rise over the last seven days. Another noteworthy development is Solana outperforming major cryptocurrencies like Bitcoin and Ethereum in trading volumes on Coinbase. Last, but not least, Solana has experienced a surge in DEX volumes, surpassing all other chains with a 3,078% higher volume than Ethereum.

Bitcoin (BTC) reached new all-time high

In a recent significant development, Bitcoin’s number of nonzero-balance addresses surpassed 50 million. This milestone indicates both the increasing user adoption of Bitcoin and the general acknowledgement of its legitimacy as an asset class. With the average holding per Bitcoin user now around $16,000, the implications for future price performance are significant. The all-time high recently reached by Bitcoin highlights the confidence that both users and investors have in the asset. The growing number of addresses is a bullish indicator of market strength, suggesting a solid foundation for future growth.

Shiba Inu sees eight trillion token withdrawal

Shiba Inu has recently witnessed a significant withdrawal from exchanges. Since November, more than eight trillion SHIB worth approximately $88 millions have been moved out of known exchange wallets. This event represents a major shift in the token distribution process and could indicate changes in investor sentiment toward Shiba Inu. Per data provided by IntoTheBlock, a more detailed analysis of transaction counts by size reveals diversified activity within the Shiba Inu trading community. Transactions from $0.00 to $1.00 increased by 25.71% over a 30-day period, while larger transactions above $1 million rose by 150%. The highest recorded transaction volume in a single week was 15.34 trillion SHIB, amounting to $158.1 million. This shows that both retail and large-scale investors are actively engaging with SHIB.

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