Different cryptocurrencies showed mixed results on Friday, October 18, 2024, with Bitcoin hitting $68,000 before pulling back slightly to around $67,700. The global crypto market capitalization got slightly to $2.33 trillion, and trade volumes were down over 6% at $75.89 billion.

The largest cryptocurrency, bitcoin, received $ 470.48 million in inflows to Bitcoin ETFs as of October 17. Nonetheless, ownership of this coin seemed to be on an upward trend; however, the coin’s price volatility assumed volatile fluctuations in the day. On the day, Bitcoin’s market share rose to 57,73% up from 57,48% the previous day.

Ethereum, the second largest cryptocurrency by market capitalization, fell slightly to $2,617, -0.94%. The altcoin had high swings even though about $48.41 million was recorded to have flowed into ETH ETFs. Many in the Ethereum community are also discussing the possibility of including EIP 7742 as part of the Pectra Upgrade, which has attracted more attention from the cryptocurrency community than previously thought.

Solana and XRP recorded small losses of about 1% to their values on the day. Solana price decline complements the decline of decentralized exchange (DEX) transaction volume on the network the same way the XRP drop, which is occasioned by rising concerns since the US Securities and Exchange Commission (SEC) filed a Civil Appeal Pre-argument statement in the xrp lawsuit.

While the bulk of the major digital currencies failed to dazzle, the meme coin segment recorded significant movements. DOGE was trading at $0.1331, an interim increase of 6.5%, and SHIB, at $0.00001884, an approximate 2% gain on the prior trading session. Others meme coins including POPCAT and MEW hit double-digit gains and were the day’s biggest gainer, rising by almost 11%.

This is a surprising outcome for the cryptocurrency market as investors work to embrace new policy measures, innovations, and changes in the marketplace. In the last few weeks, we have seen the Bitcoin price rise again, which has revived debate about the possibility of a new bullish market and its relation to previous halving events.

But, the other financial markets have been going up and down too, with the gold prices hitting new records and the traditional currencies registering small up swings. For example, swings between cryptocurrencies and conventional assets remain popular today amid investors and traders.

As we can see, the crypto market is growing with the rise of new projects and the implementation of initiatives. However, among these projects, the one that started experiencing growth is MemeFi, which is a crypto gaming project working in Telegram and has more than 20 million users. Being based on meme culture and offering elements of decentralized finance together with blockchain, the game is still distributing tokens through an airdrop before its full-fledged release, slated for July or August 2024.

The environment within which cryptocurrency operates continues to be volatile, and the value of coins fluctuates depending on the external factors affecting investors. In the usual fashion, operators are encouraged to be very cautious and undertake their due diligence before investing in any product in this highly unpredictable industry.