Crypto News Digest by U.Today

U.Today presents you with the top three news stories over the past day.

$45K remains major resistance for Bitcoin (BTC) bulls

Over the past couple of days, market watchers could see Bitcoin making notable gains; however, before climbing higher, the flagship crypto is likely to encounter a challenging obstacle. That said, a break above this resistance level may indicate the imminent onset of bullish momentum. Based on recent trading activity, the $45,000 threshold has grown to be a crucial battleground for Bitcoin bulls. Per on-chain data, this price level has been a strong point of resistance, with supply being aggressively protected through selling orders and the price stalling. The BTC price has made multiple attempts to break the $45,000 barrier, but they have been met with a heavy selling presence, indicating a strong defense by bears on the market.

Solana (SOL) takes over Spotify and Electronic Arts with $4.8 billion surge

To the great surprise of the crypto market, Solana has surged by over $4.8 billion over the past day, with its market capitalization reaching an outstanding milestone of over $37 billion. Per CoinMarketCap data, this spike allowed SOL to claim its position as the fifth-largest crypto market token, leaving behind more established competitors like XRP. Notably, Solana’s success extends far beyond the cryptocurrency space; if cryptocurrencies were included in traditional industry rankings, Solana would rank among the top 500 largest firms worldwide, surpassing even industry giants like Electronic Arts and Spotify in terms of value. The reason behind the surge in SOL’s valuation is likely a renewed rally in its quotations. In just the past week, SOL rose by 21%, following a remarkable growth of 250% since mid-October.

Shiba Inu (SHIB) launches domain name system with D3, Viction follows

As recently announced by D3 Global, a cutting-edge domain name platform developing interoperable digital identities, it has established strategic partnerships with  the Shiba Inu (SHIB) and Viction (VIC) blockchains. The two teams will be able to apply for and obtain the .shib and .vic top-level domains (TLDs). D3’s concept of interoperable digital identities is expected to facilitate the introduction of opportunities for the Shiba Inu and Viction ecosystems to new audiences, as well as to allow secure, universal access to their services. The goal of D3’s strategy is to eliminate the most harmful shortcomings in the current DNS systems, such as fraud, data loss, brand confusion and missing critical functionality. SHIB lead Shytoshi Kusama commented on the partnership, expressing his excitement at the possible effects of this step for SHIB community management and retail adoption.

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Valeria Blokhina