Xmas came early for investors… Last week all asset classes climbed up.
Why was that?
Well, the FED seems to not only be unwilling to raise rates, but could actually end up lowering them.
Crypto had another whopper of a week. Bitcoin and Ethereum (part of the Chad index) kept printing gains almost daily.
But the story of the week has to be Solana. The Ethereum competitor has soared almost 900% in the last 12 months.
It even passed BNB (Binance’s token) to become the 4th largest cryptocurrency. And it is still far from its $260 All Time High.
There are a bunch of reasons behind this. The growth in network users being a huge one.
This was not in my bingo card for 2023 to be honest. Especially after the SBF debacle and the fact he owned so much of this token.
This altcoin was once mockingly referred to as “Soylana” (i.e. the Soy Boy favorite).
Not any more…
If things keep going like this maybe it will have to be added to the “Chad Index”!
