The Weekly Airdrop: 0x97
Dec 29, 2023 // Overall market cooled off over Christmas; Bitcoin is set to end the year +160%; near term market attention turns to other L1/L2 ecosystems
Cooling off after what turned out to be a very strong year, the crypto market was fairly quiet in the final week of 2023 and finished relatively flat. BTC (-2.7%) and memecoins (-1.9%) sold off as investors turned their attention to L1/L2s, including top Ethereum-centric L2s such as METIS (+104.3%), OP (+16.3%), and MATIC (+13.9%). Other ecosystems caught bids as well, including Cosmos’s DeFi-focused app-chain, SEI (+55.5%), Kusama’s EVM-compatible L1, MOVR (+175.5%), and the lightweight, ZK-focused L1, MINA (+47.8%).
Lastly, SOL had another strong week (+13.0%), capping off its wild run this year (+947.2%). As we enter 2024, the crypto market is most focused on the BTC ETF (followed by the ETH ETF), the U.S. presidential election, Bitcoin’s 3rd Halving, and keeping a close eye on crypto’s 4-year cycle theory.
We’re looking forward to another exciting year - see you all in 2024!
THE NEWSROOM
'Smart Money' is Record Long on BTC Ahead of Expected Bitcoin ETF
Japan’s Monex Group Acquiring Majority Stake in Canadian Crypto Firm 3iQ
About M31 Capital
M31 Capital is a global investment firm dedicated to crypto assets and blockchain technologies that support individual sovereignty.
Website: https://www.m31.capital/
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