What Happened in Crypto Market Today: Top Stories And Major Trend

What Happened in Crypto Market Today: Top Stories and Market Reactions

Bitcoin’s recent surge to $97,000 has sparked excitement about its potential to reach $100,000. Meanwhile, cryptocurrency developments like the Solana ETF registration and legal action over the "Chill Guy" meme highlight the growing influence of crypto in mainstream finance.

Will Bitcoin Reach $100,000?

Bitcoin has recently surged to $97,000, sparking speculation about whether it can hit the $100,000 mark. This excitement is amplified by reports that a company linked to Donald Trump is in talks to acquire Bakkt, a major cryptocurrency trading firm. If successful, this acquisition could integrate Bitcoin into traditional finance, boosting its value and dominance. As Bitcoin continues its upward trajectory, investors eagerly await to see if it can break the $100,000 barrier and sustain its growth.

Creator of Viral 'Chill Guy' Meme Takes Legal Action Over $500M Token

The viral "Chill Guy" meme has turned into a major crypto phenomenon with the launch of the CHILLGUY token, reaching a $455 million market cap. However, its creator, Phillip Banks, is unhappy with its success and plans legal action against unauthorized use, including the token itself. While TikTok fueled the token's rise, the speculative nature of memecoins like CHILLGUY often leads to volatility, making it a risky investment for buyers.

North Korean Hackers Behind $50 Million Upbit Attack

South Korea has officially confirmed that North Korean hacker groups Lazarus and Andariel were behind the 2019 Upbit hack, which resulted in the theft of 342,000 Ether, worth $50 million at the time. Due to Ether's recent rise in value, the stolen crypto is now worth over $1 billion. The South Korean authorities traced the attack through crypto flows and IP addresses, marking the first official acknowledgment of North Korea’s role in a cryptocurrency hack.

SEC Delays Decision on Franklin Templeton Crypto Index ETF

The SEC has delayed its decision on whether to approve Franklin Templeton’s Crypto Index ETF until early 2025. The agency, in a letter dated November 20, mentioned it had received no public comments after proposing the rule change in October. The delay allows the SEC more time to review the ETF’s proposed listing. This move follows similar efforts by other firms, including Grayscale, aiming to launch crypto index ETFs in the U.S.

Bitwise Registers Solana ETF in Delaware

Bitwise has registered a Solana ETF trust in Delaware, signaling plans to file with the U.S. SEC soon. This puts it in competition with VanEck and Canary Capital for an approved spot Solana ETF. The fund would aim to track Solana's price, the fourth-largest cryptocurrency by market cap. While the SEC still needs to approve the filing, a decision could come by 2025. Solana has shown strong growth, despite being one of the weaker performers in the recent bear cycle.

Conclusion

As Bitcoin nears the $100,000 mark, industry moves like the potential Bakkt acquisition and Solana ETF filings show the increasing convergence of crypto with traditional finance. However, risks, including regulatory delays and volatility, remain.