Daily Crypto Signals: Bitcoin Hits $123,100 All-Time High, Solana Sees RWA Boom
Bitcoin reached a new all-time high of $123,100 on Monday, driven by record ETF inflows and institutional demand, while Ethereum faces stiff
Quick overview
- Bitcoin reached a new all-time high of $123,100, driven by record ETF inflows and institutional demand.
- Kazakhstan's sovereign wealth fund has included cryptocurrencies in its national reserves, indicating growing global interest in digital assets.
- Bank of England Governor Andrew Bailey warned against banks releasing stablecoins, advocating for tokenized deposits instead.
- Solana has emerged as a strong competitor in the tokenized assets market, with a 140.6% growth in real-world asset tokens this year.
Bitcoin BTC/USD reached a new all-time high of $123,100 on Monday, driven by record ETF inflows and institutional demand, while Ethereum ETH/USD faces increasing competition from Solana [[SOL/USD] in the tokenized assets market. The milestone pushed Bitcoin creator Satoshi Nakamoto to 11th place on Forbes’ billionaire list with holdings worth over $131 billion.
Crypto Market Developments
This week, the cryptocurrency market saw a lot of movement, with institutional adoption continuing to push mainstream acceptance. According to reports, Kazakhstan’s sovereign wealth fund has decided to include cryptocurrencies in its national reserves, following the example of Norway, the United States, and other Middle Eastern countries. The move shows that more and more countries are interested in digital assets as central banks look at “aggressive strategies” to get better returns on investments.
On the other hand, regulatory issues came up when Bank of England Governor Andrew Bailey advised against banks releasing stablecoins, saying they may damage the financial system and make it harder for governments to manage their fiat currencies. Instead, Bailey pushed for tokenized deposits, which shows that there is still a lot of tension between traditional finance and crypto innovation.
Bitcoin Reaches New ATH Above $123,000
Bitcoin (BTC) rose to $123,100, an 8.74% weekly gain. This is the biggest weekly gain for Bitcoin since early May. The increase was driven by institutional money, and on Thursday, spot Bitcoin ETFs had their second-largest single-day inflows of $1.18 billion. This flood of professional capital has fundamentally changed Bitcoin’s nature. Its volatility has dropped from past cycle high above 100% to a more stable 35%, which is close to levels seen in established assets like the S&P 500 (22%) and gold (16%).
According to analysts, the institutionalization of Bitcoin has led to a “strong buy regime.” US spot Bitcoin ETFs now handle more than $143 billion in assets. Market analysis shows that this rally could go even higher. Technical indicators imply that it could rise by 10% to 15%, bringing the price to between $132,000 and $138,000 before any big drop. The Coinbase Premium Index has been above zero for the longest time in this bull cycle, showing that US institutions and individuals are still buying.
Solana Ecosystem Grows with Tokenized Assets
Solana (SOL) has become a strong contender in the tokenized assets field. The value of real-world asset (RWA) tokens has grown by 140.6% this year, reaching $418 million. This growth rate was more than twice as fast as the 62.4% growth of the larger RWA tokenization industry at the same time. Solana is presently the fourth largest blockchain in the RWA tokenization industry, with a market share of 3.9%. It is behind Ethereum (58.4%), ZKsync Era (17.2%), and Aptos (4%).
The network is appealing to tokenized equities, US treasuries, and institutional funds because it has a high throughput, very low transaction costs, and a strong development community. The U.S. Dollar Yield Fund from Ondo and the institutional fund from ONe are the two biggest non-stablecoin RWA protocols on Solana. Together, they own $277 million in tokenized real-world assets. Solana has made $3.9 million in sales in the last 30 days, whereas Ethereum has made $15.9 million. However, Solana’s quick rise in the RWA market makes it a major contender in the race to tokenize existing financial assets.
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