SPXHits $1.5B Market Cap First Time As Open Interest Rises
The post SPXHits $1.5B Market Cap First Time As Open Interest Rises appeared on BitcoinEthereumNews.com.
The meme coin SPX6900 has set a significant milestone, passing the $1.5 billion market cap for the very first time on Jan. 7, 2024. This follows increased trading activities and rising interest in meme coins as an asset class in the crypto market. It goes without saying that it has placed SPX6900 (SPX) among the best-performing digital assets in the early days of 2025, which is often known as the January effect. Trading at $1.53, the token gained 1.87% in the past 24 hours, with a daily trading volume exceeding $95 million, highlighting growing investor interest. PX’s market cap surpasses $1.5 billion as its price soars to $1.80, marking a significant milestone in the token’s performance during the last quarter of the year. Sourced from Coinglass by crypto.news. SPX is a meme coin that runs on the ETH blockchain, which comes at a time when meme coins continue to catch market attention with their combination of speculative appeal and cultural resonance. Described in its unofficial manifesto as “the stock market for the people,” the token symbolizes a movement toward economic liberation and an alternative to traditional wealth creation systems. As of today, the circulating supply is estimated to hover around 931 million, with about 6.9% of tokens or roughly 69 million burnt. The token uses the Wormhole technology to be a cross-chain asset, enhancing availability across different blockchain estates. SPX’s market perspective From a market point of view, the token could rise on support from technical indicators that show a rather bullish sentiment. The Moving Average Convergence Divergence (MACD) has seen the MACD line cross above the signal line, a classical bullish determinant. SPX6900’s MACD analysis shows bullish momentum with a significant upward crossover in late 2024, indicating sustained buying pressure and growing market enthusiasm into early 2025. Source: TradingView…
Filed under: News - @ January 7, 2025 6:20 am