Solana’s latest push into hardware-driven crypto took an unexpected turn this week after the token tied to its new Seeker smartphone, $SKR, surged more than 200% within days of launch, according to CoinGecko data.

The rally followed the long-awaited token generation event (TGE) and airdrop linked to Solana Mobile’s second-generation device, a $500 Android phone designed for on-chain use. While early volatility was expected, the scale and speed of the move drew attention across the crypto market.

A Phone Built for Crypto Users?

Solana Seeker is positioned as a Web3-native smartphone rather than a traditional flagship device. It integrates wallet security, identity, and staking features directly into the operating system.

The phone includes a built-in Seed Vault for private key storage, biometric transaction signing, and access to Solana’s dApp Store.

Users can interact with dApps, stake tokens, and track rewards without relying on third-party wallets.

More than 150,000 units were preordered in the first sales wave, according to Solana Mobile. Additional devices are now shipping as the ecosystem enters its second reward season.

The SKR Token Launch

The Seeker ecosystem is powered by SKR, a Solana-based token with a fixed supply of 10 billion. Roughly 30% of the supply was allocated to users and developers through an airdrop tied to device ownership and on-chain activity.

Claims were processed directly through the Seeker wallet, with immediate staking enabled. Developers received some of the largest allocations, while heavy users earned six-figure token amounts.

Unlike many recent launches, $SKR debuted with a relatively low fully diluted valuation, limiting early sell pressure.

Why SKR Rallied So Sharply

Several factors combined to push $SKR higher in its first two trading days. Initial staking removed a large share of tokens from circulation. Solana Mobile’s staking design incentivizes holders to lock tokens immediately, tightening supply during price discovery.

Also, early staking yields near 24% APY encouraged participation. These rewards come from token inflation rather than revenue, favoring early adopters and discouraging quick selling.

Meanwhile, fast exchange listings and high trading volume accelerated price discovery. Data shows daily volume exceeded $140 million at peak, a high figure relative to the token’s circulating market cap.

Major exchanges like Coinbase and Kraken listed the token, despite a small market cap of nearly $200 million.

These dynamics created a short-term supply squeeze during the launch window.

However, much of the initial demand was driven by airdrop dynamics, staking incentives, and low liquidity, rather than sustained revenue or usage metrics.

As unclaimed tokens enter circulation and inflation declines, price pressure could re-emerge.

The Seeker launch represents Solana’s most ambitious attempt yet to tie physical hardware directly to tokenized incentives.

Whether that model can scale beyond early adopters remains an open question.

The Gold price has surged past the $ 5,000-per-ounce mark, setting a historic benchmark for the precious metal.

This move suggests mounting investor concern over the US Dollar’s ongoing decline, while Bitcoin and Ethereum remain well below critical levels

Gold Rockets Past $5,000 Amid Dollar Collapse

As of this writing, Gold is trading for $4,987 after establishing an intra-day high of $5,009 on January 24. The precious metal is up by almost 20% in the last 24 hours.

Meanwhile, the US Dollar Index (DXY) has nosedived to 97.45, a multi-month low as this level was last tested in September 2025.

The milestone coincides with a striking on-chain move, where a single trader on the Bybit exchange deposited 7 million USDT and withdrew 843 XAUT, worth $4.17 million, highlighting growing interest in tokenized gold as a hedge against fiat volatility.

Lookonchain, which monitors blockchain transactions, flagged the activity, noting that the sizable XAUT purchase is among the largest tokenized gold movements in recent months.

The trade may indicate potential profit-taking or reallocation strategies as gold reaches unprecedented levels.

While cryptocurrencies have traditionally been considered an alternative to fiat, the latest price action highlights gold’s resilience relative to digital assets.

Ethereum trades at $2,958 and Bitcoin at $89,615, with gold’s rally outpacing the gains of leading cryptos in recent weeks. Such divergence reflects gold’s continuing role as a safe-haven asset during periods of macroeconomic uncertainty.

The US Dollar’s decline has been a central driver of the surge. According to recent market commentary, the greenback has lost nearly 50% of its value relative to gold over the past year. Notably, this is the largest drop in US history.

Could Dollar Weakness and Commodity Pressures Drive Gold Rally Toward $6,500?

Analysts warn that sustained dollar weakness is fueling a broader rush into precious metals and other inflation-resistant assets.

Against this backdrop, general sentiment for gold remains bullish, particularly for the precious metal’s near-term trajectory.

“Possible price action in gold over the coming weeks and months. I expect the present run in gold to continue until $5,400 – 5,600, then 10% correction, consolidation, and continuation higher towards $6,500 by summer 2026, which, if it materializes, would constitute 30% gain from the present price level…,” stated investment manager and financial analyst Rashad Hajiyev.

This forecast aligns with Goldman Sachs’ thesis that the gold price could rally to $5,400 in 2026. Reports also indicate that Bank of America expects gold to reach $6,000 by Spring 2026.

Copper Shortages and Dollar Weakness Spotlight Gold as a Safe-Haven Asset

The surge in gold prices also reflects broader commodity pressures. Billionaire mining magnate Robert Friedland recently highlighted structural constraints in the copper market. He warned of looming supply shortages necessary to sustain global GDP growth and electrification efforts.

“We’re consuming 30 million tonnes of copper a year, only 4 million of which is recycled… In the next 18 years, we have to mine as much copper as we mined in the last 10,000 years combined,” Friedland said, highlighting the scarcity pressures that are impacting multiple commodity markets, including precious metals.

The convergence of dollar weakness, supply-chain stress, and a historic gold rally presents both opportunity and risk.

The $4.17 million XAUT transaction on Bybit may foreshadow further institutional moves into tokenized gold.

Meanwhile, the broader macro environment suggests that gold could remain a critical hedge for wealth preservation amid increased volatility in cryptocurrencies and fiat currencies.

Headlines like “Bitcoin Falls to $100,000” only attract the attention of alts expecting a BTC-style breakout.One of the projects attracting attention is Skate, which the Bitunix exchange recently listed for spot and futures trading.

What is a skate chain coin(SKATE)?

Skate Chain is a project that aims to change the way virtual machines work and ensure that users don't have to switch between wallets or use bridges for them to work properly.

At the heart of Skate Chain is the SKATE token, which helps secure the network, allows holders to vote on important decisions, and rewards people who contribute to the growth of the ecosystem.The maximum supply is 1 billion SKATE tokens, of which 150 million are already in circulation.According to Coinmarketcap, Skate Coin's price is $0.054 at the time of writing.

Skate consists of three main parts: Hub Chain and Skate AVS, which secure the blockchain using advanced technologies, and the Executor Network, which distributes tasks between blockchains.This approach ensures smooth operation of applications on multiple blockchains simultaneously.

Skate stands out for its way of solving the fragmentation problem.Instead of having to juggle multiple wallets and bridges, users get a seamless experience and developers can build apps that are ready to use out of the box with no additional effort.Where to buy Skate Coin (SKATE)?

Skate Coin (SKATE) can be purchased on the Bitunix exchange, the fastest growing cryptocurrency exchange in the world known for listing innovative projects.Bitunix offers a simple and secure platform to purchase SKATE and over 800 other assets with low fees and high liquidity. Whether you are a newbie or an experienced trader, Bitunix makes buying Skate coins easy and convenient.

📣 $SKATE @skate_chain Trading is now available on Bitunix!

🚀 Spot trading https://t.co/aJWm7HIaLm 🔥 Futures trading https://t.co/uOMuTDKDOc

ℹ️ More details https://t.co/QgrHwREsLW pic.twitter.com/yRmYU6MfUP — Bitunix (@BitunixOfficial) June 9, 2025

How do I buy Skate Coin (SKATE)?

It's very simple - here is a step-by-step guide to buying Skate Coin on the Bitunix exchange:

Login

1.First, visit the official Bitunix website. New users can register by providing a valid email address and setting a strong password. Returning users can log in using their existing credentials.

Top up your credit

2.After logging in, go to the “Wallet” section.Select a supported cryptocurrency such as USDT and click “Deposit” to generate a wallet address.Transfer funds from an external wallet or other exchange to this address.Once the blockchain confirms the transaction, the wallet balance will be updated accordingly.

Find trading pair SKATE

3.Go to the Spot Trading section in the main menu.Use the search bar to find the SKATE/USDT trading pair and open the trading interface.

BUY SKATE

4.On the trading screen, choose between placing a market order to buy immediately at the current price or placing a limit order to buy at a specific price.Enter the USDT amount to spend and confirm the order.The platform will process the transaction once the conditions are met.

Once the purchase is completed, SKATE tokens will be available in the Bitunix Spot Wallet. Tokens can be stored or transferred. Bitunix focuses on security and transparency, providing a reliable platform for both new and experienced traders.

As the XAU/USD chart shows, gold prices rose above $2,460 for the first time in history yesterday, July 16.

The bullish sentiment is due to:

→ Waiting for the Fed to cut interest rates. Ultimately, the attractiveness of non-interest-bearing precious metals tends to increase in low interest rate environments.→ Geopolitical tensions. The assassination attempt on Trump could increase demand for a “safe haven”.→ Demand from central banks.

Reuters writes that analysts at the Commonwealth Bank of Australia believe gold prices could exceed their forecast of $2,500 an ounce by the end of 2024. “Gold’s ability to find support in any environment this year is worth highlighting,” they say.

Can the price of gold continue to rise?

Technical analysis of the XAU/USD chart provides some valuable observations:

→ Gold prices are in an uptrend (shown in blue);

→ the support level of $2290, “strengthened” by the middle line of the blue channel, pushed the price higher (represented by the arrow);→ and the bulls managed to break the level of $2385, which had acted as resistance since June 7 (represented by the arrows);→ while the bearish head and shoulders pattern (SHS)failed.

The contours of the ascending channel with this construction raise the prospect of an increase in the price of gold to its upper limit, where the psychological level of $ 2500 per ounce is also located. Therefore, the forecasts of analysts at the Commonwealth Bank of Australia could come true much earlier than the end of the year.

Technologies tend to have a natural ceiling built into their utility and popularity. Once they’ve solved all the problems they can solve, their growth is effectively capped. As soon as all potato fans own a potato peeler, the peeler market’s growth potential is largely tapped out. Indeed, the big question around AI at the moment is how many problems it will be able to solve. The market could already be overblown, or it could be practically limitless.

What about stablecoins? They’ve grown from practically nothing at the turn of the decade to a market cap in the mid-12 digits and monthly transaction volumes in excess of $1 trillion. Citigroup expects the aggregate stablecoin market cap to hit around $2 trillion by the end of the decade.

If we’re talking trillions, it sounds much more like AI than potato peelers.

But do stablecoins have a natural limit? Is their utility restricted to a certain range of problems? If so, where is it? How far can stablecoins grow, and what might stop them?

In order to find answers to these questions, let’s recall why stablecoins have come so far already, what will limit their future growth, and what that means for their overall utility, i.e. the range of problems they can solve.

Why Stablecoins Gained Market Traction

Three reasons for stablecoins’ current popularity stand out.

Stable Prices, Low Volatility

The first reason is price stability. Many cryptocurrencies are volatile, which makes them valuable for speculation but awkward to use as everyday currencies. The value of stablecoins is, well, stable. By definition. Price stability is their fundamental value proposition.

Price stability is also arguably an advantage relative to other cryptocurrencies whose value is perpetually expected to rise. If your coins’ value will double in five years, you might be reluctant to spend them now. But if your coins will be worth the same or even a little less in five years, you better spend them before they burn a hole in your pocket.

Greater Portability

The second is portability. Exchanging fiat for crypto can be arduous, but exchanging one crypto for another is usually much easier. So many users find it more efficient to convert fiat into stablecoins in bulk, then easily shift value between various cryptocurrencies as needed. USDT is the most traded coin overall because it works so well on the other side of any crypto trade.

In many markets, these first two factors reinforce each other. Many countries’ national currencies depreciate more rapidly than stablecoins’ pegged currencies, so stablecoins give people in those countries a way to protect their wealth from depreciation. And those same countries often use currency controls to prevent capital flight, but their citizens can often access stablecoins to circumvent those artificial barriers.

Tax Optimization

The third reason is simply taxes. Many jurisdictions — including the United States, Canada, the United Kingdom, Japan, and Australia — classify cryptocurrencies as commodities rather than currencies. As a result, capital gains taxes apply to cryptocurrency price appreciation, so each transaction can be a taxable event. But many users and businesses might want to use crypto for its portability, like payment rails, so stablecoins’ price stability helps them avoid taxable events during routine payments.

You Can’t Copy State Money without State Rules

Fiat currency is the modern state’s crown jewel. Beyond a national currency’s symbolic value, controlling the source of everyone’s money is a very advantageous position. For an impression of what a big deal this can be, rewatch Ridley Scott’s Black Rain (it’s a great rewatch for any reason, not least of which is Michael Douglas rockin’ a killer mullet).

If stablecoins are minting hundreds of billions of fiat equivalents and moving trillions in value each month, the state is going to take a very close interest in what they’re doing and how. You can’t open your own private mint moving that kind of liquidity and hope to stay under the regulatory radar.

Besides, history shows that states will regulate whatever they can. They have to. Any activity they cannot regulate implicitly threatens their claim to authority, and they don’t actually produce anything (besides perhaps regulation), so they need to acquire resources. In order to take their cut from an activity, states have to first quantify and control (i.e. regulate) that activity. This is the kind of argument that led Charles Tilly, one of the last century’s most respected historical sociologists, to call states “protection rackets” and “organized crime.”

Centralized activity is also why states preferred tariffs over taxes until pretty recently. Back when bureaucracies were small and populations were spread out, states found it very hard to tax income. They didn’t have the data to quantify it nor the technology to control it. So they preferred tariffs because there are far fewer ports and bridges than there are households and shops.

In other words, the more centralized an activity is, the easier it is to quantify and control (and skim of course). More concisely: centralization attracts regulation. And the more central an activity is to state power, the more incentive the state has to regulate it, and printing money is about as central as it gets.

Stablecoins are no exception. They are centralized both in terms of the source of their value and in their actual operations, which is why regulators have been busy churning out rules lately. While that regulation might even be necessary and wise, it does and will limit stablecoins’ utility.

Rules, Their Effects, and Extrapolating the Future

The supply of regulation has increased a lot recently, but maybe it’s just meeting demand. In fact, Tether and Circle, the two biggest stablecoin issuers, are getting involved in the regulatory process with different strategies. They’re aware of their position as private USD mints and companies that take large amounts of private deposits and reinvest them (i.e. banks). Mature stablecoin issuers seem to want regulation.

The regulators themselves argue that stablecoin regulation is a good thing because it protects users and gives issuers “more predictable regulatory environments.” Not surprisingly, this is the view of the SEC.

And this reasoning is not without merit. Companies managing hundreds of billions in liabilities should be able to meet those liabilities, and maybe someone should check. But the existing regulations have added some massive obstacles to where and how people can use stablecoins.

Let’s start with Europe, because regulatory legalese is the EU’s official language. The Markets in Crypto-Assets Regulation (MiCA) is the key stablecoin regulatory measure in Europe. It became law in 2023, but the consequences only really struck in Q1 2025. Since MiCA requires stablecoin issuers to obtain an e-money license in at least one European state, major exchanges like Binance and Coinbase delisted nine leading stablecoins, including USDT, the biggest stablecoin of all. (Of course, a consortium of nine too-big-to-fail European banks is trying to launch their own euro-pegged stablecoin.)

MiCA was a regulatory nuke, practically banning leading stablecoins and seeking to replace them with astroturfed European alternatives.

Somewhat more friendly to experimentation and innovation, the USA has implemented the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. GENIUS is a little more permissive in that the Treasury Department can determine that foreign stablecoin issuers are subject to sufficient regulation at home, sparing them the need for a local US presence. It also prescribes a few particulars like reserve requirements and public disclosure.

While the GENIUS Act formally restricts issuers and protects users, it also makes issuers subject to the Bank Secrecy Act to prevent money laundering. As anyone knows who’s ever bought crypto on an exchange, AML and KYC are significant friction, and they effectively restrict how holders can use stablecoins. Eliminating exactly that friction was one of the features that made stablecoins attractive in the first place. Greater consumer protection might increase stablecoins’ utility in the long-term aggregate, but a user who wants to buy and trade USDT right now might disagree.

And while the EU and the USA are arguably the most important markets for stablecoins, many other markets either have regulations in place (e.g. Japan, Canada, Chile) or in the pipeline (e.g. the UK, China, Australia, Brazil, Turkey).

Imagine a giant Venn diagram of all these regulatory regimes, and stablecoins’ utility is in the space where they all overlap and the activity remains economical. How big is that space? And given that stablecoins are pegged to national currencies, which national administrations guard jealously, are these already diverse regulatory regimes likely to converge or diverge in the future?

The denser the jungle of regulations, the smaller and more isolated the clearings where stablecoins can flourish. They will still have a niche, but some niches are more niche than others. It’s unlikely that any stablecoin, based on a national or even regional fiat currency, will satisfy all the regulators in all the markets necessary to become a global currency. That’s probably why real-world stablecoin usage ends up being far more geographically constrained than the “global digital dollars” many hoped for. Even USDT, the most widely used stablecoin, operates at scale in only a few permissive jurisdictions. With roughly 40% of USDT’s market cap and an effectively identical product, USDC faces the same structural limits.

Cryptocurrencies have given people unprecedented financial freedom and control over their money. However, over time, this advantage has lost its unconditional validity - particularly due to the increasing practice of "freezing" assets.

Typically, "freezing" crypto assets refers to a temporary restriction on a user's ability to manage their savings. Formally, the user remains the owner of the cryptocurrencies, but cannot transact with them until the freeze is lifted. Unlike seizure or repossession, freezing does not imply the permanent loss of funds and can, at least in theory, be reversed.

Blockchain technology itself does not provide a single and universal freezing mechanism. In contrast, decentralized blockchains were originally designed as systems resistant to censorship and restrictions on freedom of disposal of coins. As a general rule, if a user independently controls the private key to his wallet, no external party can prevent him from initiating transactions, receiving or spending his savings.

Therefore, such a freeze occurs not at the base level of the blockchain, but at the level of the infrastructure surrounding cryptocurrencies: exchanges, custody services (i.e. Services to which the user has entrusted access to coins), issuers of tokens and smart contracts.

Simply put, a freeze can occur when there is a third party between the user and the blockchain that is technically capable of restricting the free movement of money. That is, in a situation where decentralization is at risk.

Main reasons for freezing

In practice, crypto assets are usually frozen for the following reasons:

• As part of compliance: Centralized exchanges (CEX) or stablecoin issuers may temporarily restrict access to funds if suspicious activity is detected due to anti-money laundering (AML) and know your customer (KYC) regulatory requirements, as well as to comply with sanctions requirements or other legal restrictions.

• On user account security: Repeated unsuccessful login attempts, signs of hacking or unauthorized access often lead to an automatic blocking of transactions by the crypto exchange.

• Freezing at the smart contract level: Funds may be blocked due to errors in the code, protocol rules, or actions of the token issuer.

• Maintenance and outages: Scheduled maintenance, false positives from compliance algorithms, updates or technical errors on the platforms may temporarily suspend transfers and withdrawals.

Types of freezing

In practice, there are several main types of freezing of crypto assets. The first and most common problem is freezing on centralized platforms. Cryptocurrency exchanges and custodial services control access to user funds and may suspend transactions for individual accounts or addresses.

The second type is software freezing at the smart contract level. In this case, the possibility of restriction is built directly into the contract code. Issuers of stablecoins usually resort to a similar method. Some contracts initially provide for the possibility of blocking transfers, individual addresses or the entire system in an emergency.

In addition, sometimes a technical standstill occurs, which is not associated with legal decisions, but with errors. If no new blocks are generated on the blockchain, user funds can also be technically considered “frozen”. In the strict sense, this is not a “freeze” of assets, but a shutdown of the network. However, the term “freeze” is sometimes used in this sense.

How to freeze

Using the example of a centralized exchange, the freezing mechanism looks relatively simple. The user is not the direct owner of the private keys;in this case, they are stored by the platform. This means that the exchange is technically able at any time to prohibit the withdrawal of funds, block an account or restrict individual transactions. For this reason, storing cryptocurrencies in an exchange account is considered unsafe. This problem is not new and therefore many years ago the maxim expression became popular among crypto enthusiasts: “Not your keys, not your coins.”

For stablecoins issued via smart contracts, the situation is less simple. Many popular stablecoins contain features that allow the issuer to block specific addresses. A typical example is a feature such as Blacklist (address), which allows an issuer to blacklist a specific address. After that, all attempts to transfer tokens from such an address are blocked by the smart contract itself, although the tokens remain listed on the blockchain's balance sheetare.

For example, according to Blocksec, Tether blocked several thousand addresses on the Ethereum and Tron blockchains, freezing more than $2.9 billion in USDT.

From a technical perspective, this shows an important property: Even in a blockchain, the rules for the circulation of a token can be managed centrally if the logic of a specific smart contract provides for this.

Output

The freezing of crypto assets is not a feature of blockchain technology itself, but occurs at the level of the infrastructure surrounding the cryptocurrency: exchanges, custody services, issuers of tokens and smart contracts. The key risk factor in this context is the level of “custody” of the service. The closer a service comes to a custody model, the higher the risk that funds will be frozen, regardless of whether these are compliance requirements, security measures or technical limitationsis.

The target price of Bitcoin ($BTC) is the subject of numerous estimates, forecasts and speculations.Numbers like $100,000, which could definitely be reached this year, $500,000 or even $1 million, keep coming up.But now the well-known asset manager VanEck, which manages almost $90 billion and offers both a Bitcoin and an Ethereum ETF, has announced an incredible price target for the Bitcoin price.

According to the company's estimates, the price of one $BTC in 2050 will be an incredible $2.9 million.From today's perspective, an increase of around 4,600% would be necessary!The market capitalization of Bitcoin would be 61 trillion dollars.

Bitcoin could account for around 10% of international trade, according to VanEckhandle

The American asset manager's future forecast goes far beyond a mere price estimate.VanEck predicts that by 2050 over 10% of international and 5% of national trade could be carried out via $BTC.

In addition, the financial group's analysts assume that various central banks could hold 2.5% of their assets in Bitcoin.Since more and more influential personalities such as Robert Kennedy Jr. and Donald Trump are declared supporters of a government Bitcoin reserve, at least the latest estimate seems to be very realistic.

Since more and more companies like Ferrari have recently started accepting crypto payments and more and more corporations like MicroStrategy, Marathon Digital Holdings and Metaplanet are holding Bitcoins as reserves, VanEck's astronomical-sounding estimate doesn't seem so far-fetched.If the world's largest cryptocurrency were to gain such acceptance, the impact on the crypto market would be gigantic and would probably be accompanied by an unimaginable bull run.Smaller coins like $99BTC could also benefit from this.

$99BTC: The latest project from a renowned platform

Palihapitiya believes that the encryption system that underlies Bitcoin - SHA-256 - can be broken in the next 2-5 years thanks to advances in quantum computing, as he explained during the All-In podcast published on December 13.

"I had to figure out how long it would take us to break the encryption standards we use for Bitcoin. We need about 8000 chips to crack SHA-256. We are in a two- to five-year window in which blockchains will need to implement new hashing algorithms,” Palihapitiya said.

Willow, which the billionaire says could accelerate the breakthrough of cryptographic standards protecting BTC and other digital currencies, is a major development in this space.

Although the technology to achieve this level of quantum computing is still in its early stages, Palihapitiya suggested that the chip represents a significant step toward achieving this capability. However, he acknowledged that there are still many challenges ahead, particularly in scaling the technology.

The investor noted that Bitcoin and other blockchain networks need to adapt quickly by adopting new encryption algorithms to ensure their security.

At the same time, Palihapitiya is optimistic about the future of cryptocurrencies. He believes that the development of quantum computing can stimulate the development of new encryption methods that can withstand all attacks.

Discussion about Bitcoin hacking

Interestingly, not all crypto market experts agree that quantum computing poses a serious threat to Bitcoin. CryptoQuant platform founder Ki Young Ju, for example, believes it is unlikely that Bitcoin will be hacked before the end of this decade.

If Bitcoin's modern encryption is compromised, the community has a plan of action proposed by its creator Satoshi Nakamoto. Back in 2010, he wrote in a post on BitcoinTalk that users can negotiate the latest secure state of the blockchain and switch to a new algorithm if the SHA-256 algorithm becomes unreliable.

“If SHA-256 were broken completely, I think we could agree on the correct state of the blockchain before the problems started, commit it, and move forward with a new hash function,” Satoshi noted.

Some experts see another potential threat – early Satoshi coins. They use the old Pay-To-Public Key (P2PK) format, which exposes the public key and can be vulnerable to attacks. Avalanche founder Emin Gün Sirer warns that the community may consider freezing or setting an expiration date for these coins.

Market Reaction to Advances in Quantum Computing

News about Google's development caused panic in the cryptocurrency market. This led to the liquidation of about $1.6 billion in assets in just 24 hours.

However, Bitcoin quickly recovered and crossed the $100,000 mark again.Additionally, the coin hit a new all-time high of $106,000 today, December 16th.