Crypto Prices, Bitcoin Stay Stable Over the Christmas Weekend: Here’s Everything that Happened in Web3

Crypto Prices, Bitcoin Stay Stable Over the Christmas Weekend: Here’s Everything that Happened in Web3

Key Insights

  • Solana flipped two major cryptocurrencies in a week, reaching the 4th spot in market cap.
  • Elon Musk revealed plans for Twitter's payment system, but disappointingly, it won't involve crypto.
  • The court just delayed Craig Wright's claim of being Satoshi Nakamoto and slammed him with a $1 million fine.
  • Tech reviewer MKBHD, called the Solana Saga phone "the worst product" of 2023, despite its initial viral success.

It has been an interesting couple of weeks in the crypto market, especially with how several top cryptocurrencies have flipped bullish, and are now registering strong gains on major timeframes.

We have taken the time to curate and compile some of the hottest stories in crypto over the last week, and here are some of them:

Solana Flips Two Cryptocurrencies In A Week

On 21 December, Solana started to rally straight up from the $68 support. Soon, Solana broke the $85 resistance and flipped XRP to become the 5th largest cryptocurrency by market cap.

Less than a week after that, Solana crossed the $100 mark, beating yet another cryptocurrency to become the 4th largest cryptocurrency by market cap.

Solana flipped BNB 
Solana flipped BNB 

At the time of writing, Solana has displaced Binance's BNB and is now second only to Tether's USDT.

Elon Musk Announced A New Payment System On Twitter… But No Crypto

In a recent conversation with Ark Invest's Cathie Wood on 21 December, Elon Musk revealed the next phase of his plans for X.

According to the X CEO, payment services on the platform are expected to become fully operational by the "middle of next year" (2024).

Interview with Elon Musk
Interview with Elon Musk

However, this new development presents a kick to the shin for the crypto community.

Almost everyone expected this new payment service to feature crypto. As far as we know, though, this isn't happening.

In fact, Musk even mentioned that he spends "hardly any" time thinking about crypto these days and that he is more focused on other things.

Court Slams Craig Wright, Alleged Con Man Claiming To Be Satoshi Nakamoto

There is an ongoing battle between Bitcoin core developers and Craig Wright, a man who swears he's Satoshi Nakamoto: the famed creator of Bitcoin.

According to reports, Wright is suing 13 Bitcoin Core developers and several companies, including Blockstream, Coinbase, and Block, for allegedly infringing on his "intellectual property" rights to Bitcoin's white paper, file format, and blockchain database.

The Bitcoin developers, on the other hand, think Wright is a fraud.

The latest ruling on the case
The latest ruling on the case

The trial, which was originally scheduled for December 2023 has been postponed until Feb. 5, 2024, after Wright submitted 97 additional documents to support his claim.

The Bitcoin core developers so far, have rejected this new "evidence", and have claimed that it was forged.

Wright's evidence
Wright's evidence

Overall the court of appeals has ordered Wright to pay over $1 million for the developers' legal costs, in the event that he loses the ongoing battle.

A Week After Viral Sales Of The Solana Saga Phone, Tech Reviewer Calls It "The Worst"

According to a recent YouTube video, posted by one of the most famous tech commentators on the video streaming platform, the new Solana Saga phone is the "worst new phone" of 2023.

Marques Brownlee (aka MKBHD), 21 minutes into a "phone-ranking" episode on his channel, says that the new Solana product has a nice build on the outside.

However, he also mentions that the build is "wasted" on the phone and that it deserves an award as the worst phone of 2023.

Keep in mind that in mid-December this year, this phone sold out, because of the airdrop of 30 million Bonk (BONK) that fetched a little more than $200 in arbitrage profits for buyers.

Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.

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