The cryptocurrency market has been on a rollercoaster, especially in the last couple of months, with Bitcoin rallying 128% year-on-year as of Christmas Day.

However, despite the bullish trends, the impressive performance hasn’t translated into gains for publicly listed Bitcoin mining companies, with many of their stocks showing significant declines.

Mining Stocks Falter Despite Market Gains

Data from the Hashrate Index shows that several major players in the sector are experiencing downturns. The biggest losses were recorded by Argo Blockchain. The stock of the UK-based BTC miner with a 1,500 PH/s hashrate has plunged 84.31% year-to-date (YTD), accompanied by a 5% dip over 24 hours.

Greenidge, which operates two main data centers in Dresden, New York, and Spartanburg, South Carolina, also suffered major losses, going down nearly 9% in the last day and more than 74% YTD.

Other poorly performing stocks included Sphere 3D, whose market cap fell to $23 million after share prices dipped by 4.22% overnight and 71.32% since the year began.

Mawson Infrastructure Group and Ebang International also registered 70% and 53% drops in their YTD values, respectively, with the same scenario replicated in their 24-hour performances, where both fell more than 4%.

Bigger capped firms such as Riot Platforms, with a recorded hashrate of 29,400 PH/s, also posted notable losses, sliding almost 8% in the last day and 29.92% YTD. On its part, Marathon Digital reported a 3.56% reduction over 24 hours and a more significant 16.05% from the year’s start.

Outliers Reaping From Bitcoin’s Surge

On the brighter side, companies like TeraWulf bucked the trend, posting a YTD surge of 152.61%, pushing its stock price to $5.81. Interestingly, it suffered the worst one-day dip of all BTC-miner stocks, shedding more than 12% from its price in that period.

Similarly, Bitdeer gained 131% across 12 months, boosted by a slight 0.15% increase in the last 24 hours to breach the $20 mark. Other stocks that showcased resilience included Hut 8 Mining and Northern Data, with a combined hashrate of 8,400 PH/s, whose prices have jumped 71.83% and 65.73% in that order.

This divergence between BTC’s bullish run and the mining sector’s struggles highlights the complexity of virtual asset investment. It continues to dominate the crypto market, with a 5% increase since December 24, to push its price to just below $99,000. However, the world’s largest virtual asset by market cap is down 5.6% across seven days, balanced by the 128% it has gained since January.

Elsewhere, statistics recently shared by CryptoQuant CEO Ki Young Ju revealed that institutional holders of the OG crypto have spiked to 31% from only 14% in 2023. The uptick has been driven by the growing popularity of spot Bitcoin exchange-traded funds (ETFs), government acquisitions, and the effect of MicroStrategy’s BTC-buying spree.

Despite its humorous name, Fartcoin has proven itself as a meme coin to be taken seriously by traders and investors across the globe.

Having risen by 19% in the past day alone to hit $1.13, Fartcoin is well on its way to the next target of $2, having now become one of the top 10 meme coins by market cap.

Fartcoin Boosted by Bullish Sentiment

Just a couple of months ago, Fartcoin seemed like an unlikely success story – but since late October, investors have been wowed by profits of up to 7,900%:

As the chart above shows, there’s still plenty of power left in this token, and Fartcoin remains on track to hit or even exceed its key resistance level at $1.30.

On lower time frames, Fartcoin is also continuing to outperform. At the time of writing, it’s overcome a difficult dip and started pumping once again:

Fartcoin’s popularity largely seems to have stemmed from the attention given to it by mainstream financial and business news outlets. From Fortune to NBC, Fartcoin is practically inescapable – and investors have become increasingly emboldened as they pour more and more funds into the token.

You’ll see tradfi accounts tweet about Bitcoin from time to time, rarely ever any alts

But now we see tradfi accounts blasting out 3 tweets in a row about fartcoin

No other coin has had this effect pic.twitter.com/vDDTsqkJOZ

— HornHairs (@CryptoHornHairs) December 19, 2024

Although Fartcoin is a good example of how traders and investors can have fun with money they can afford to lose, it’s also a sign that market participants need greater insights into the crypto markets. Nobody wants to miss out on a great opportunity, no matter how unlikely it might appear at first.

When it comes to meme coins in particular, diversity is also key to success.

With the above in mind, the next two tokens will provide crypto enthusiasts with everything they need to stay ahead of the game and profit from the best opportunities the crypto markets have to offer.

Wall Street Pepe ($WEPE), Meme Index ($MEMEX) the Next Meme Coins to Pump Like Fartcoin?

While Fartcoin bulls and believers celebrate their gains, many traders are backing Wall Street Pepe ($WEPE) to be the next meme coin to explode. The project has already raised over $35 million in the first three weeks of its presale, making it one of the fastest-growing ICOs.

This is a one-of-a-kind Web3 project that empowers token holders with all the trading strategies, alpha calls, and insights required to beat the market and maximize gains on an ongoing basis.

By joining the WEPE Army (a tight-knit and exclusive group of insiders), WEPE token holders can become true crypto masters – and contribute to market-moving trades and investments. Instead of being the “fish” beholden to larger players, the WEPE Army will finally be able to out-trade the biggest institutions and outwit the craftiest market manipulators.

The WEPE token is currently priced at a discounted value of $0.0003655 (with a staking option providing an APY of 37%), though this price increases throughout the presale.

Another new meme coin catching eyes is Meme Index ($MEMEX), a project that’s building the first decentralized meme coin index. It provides token holders with the opportunity to stake their MEMEX tokens into at least one of four “baskets”, each of which represents a different collection of meme coins.

From the “Titan” index (representing the most popular meme coins like DOGE, SHIB, PEPE, and FLOKI) all the way to the “Meme Frenzy” index (home to the latest high-reward and high-risk tokens), Meme Index allows investors to choose exactly how volatile they want their investments to be – without relying on the outcome of just one token’s performance.

MEMEX tokens also provide holders with project governance votes, so they can have a say in how the project evolves, and which tokens will be included in future baskets.

With over $345,000 raised within days of its presale announcement, Meme Index tokens are still available at a price of $0.0145702, with a staking APY of up to 4,954%.

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Solana has had a volatile month, losing nearly 22% but still holding its position above the crucial $180 support level. However, investor optimism is still high, with many traders expecting a rally and VanEck’s bullish prediction for 2025.

Meanwhile, Solaxy (SOLX) is a new Layer-2 project that is creating a lot of buzz in the Solana ecosystem. It broke through the $5 million barrier in its presale just a few days ago.

Could these two projects be set to boom in 2025?

SOL Rebounds From Crucial Support Level – Rally on the Cards?

Solana saw a nearly 10% drop over the past week and a 22% fall in the past month.

It then experienced a 9% gain over the past 3 days after rebounding from its $180 support. However, its trading volumes declined during this time, raising speculation if this slight recovery is the calm before another storm.

The altcoin also has found dynamic support near the 200-day EMA, which will likely provide reliable support in its upcoming rally.

Another reason the community is bullish is that Solana’s dominance in DEX activity and the meme coin space has still ensured its position in the spotlight.

The popular American asset management firm VanEck recently predicted Solana could reach $500 in 2025.

VanEck 10 Crypto Predictions for 2025

Prediction #1: Crypto bull market hits a medium-term peak in Q1, sets new highs in Q4. We project Bitcoin to be valued at around $180,000, Ethereum to trade above $6,000, Solana to exceed $500, and Sui to surpass $10.

— VanEck (@vaneck_us) December 13, 2024

According to Coinglass data, SOL’s long/short ratio on Binance stood at around 4.13 at the time of writing, reaffirming traders’ strong bullish sentiment.

This could be partly because SOL has been consolidating on its daily chart for a few weeks and forming the bullish flag-and-pole pattern.

Buyers should wait for a close above this pattern to gauge SOL’s immediate growth potential.

Meanwhile, new project Solaxy has caught huge investor attention due to its developing of a layer 2 blockchain to solve Solana congestion issues.

Many investors view this as a potential catalyst for Solana, particularly given its recent challenges with network congestion. Could this breakthrough bring fast, smooth, and cheap transactions on Solana?

Solaxy Could be the Answer to Solana’s Overload

Solana’s main chain has been pushed to its limits as traders keep piling in.

It’s been crippled by high-frequency trading overload and meme coin frenzies, leading to frustrating slowdowns. This is where Solaxy steps in with a mission to offer an “off-ramp” for transactions, taking the load off the congested network.

The project bundles transactions off-chain and settles them on the Solana mainnet in batches. This allows Solana to do what it does best: quickly process transactions without being bogged down by huge traffic spikes.

Early investors are clearly impressed by this concept, which is evident in its presale numbers. The project is witnessing an average inflow of $500K daily, and has raised over $5 million in total.

In fact, many believe Solaxy might provide the well-needed extra push needed to put Solana back in the spotlight.

Early Investor Excitement Around SOLX

At the heart of the project is SOLX, the native token of Solaxy’s Layer-2 network. This token facilitates transactions, staking, and governance.

Early investors can grab $SOLX for just $0.001578 at the time of writing. However, this price will increase in less than 24 hours when the presale enters the next stage.

The project’s team has also confirmed plans to list SOLX on major exchanges after the presale. This has triggered even more excitement, with investors speculating about potential price surges once liquidity opens up on bigger platforms.

It’s worth noting that SOLX has a supply cap of around 138 billion tokens. This is relatively small compared to some meme projects with an unlimited supply that could face inflation risk.

Triple-Digit Staking Rewards and Strong Investor Support

One feature that’s catching everyone’s attention is Solaxy’s staking portal.

It currently offers an APY of over 750%, but this figure will decline as more investors stake their SOLX tokens. On the surface, it might seem like just another staking gimmick. However, Solaxy positions it as part of a broader plan to grow the Solana ecosystem.

With over 1.5 billion $SOLX already staked, the project’s investor support seems quite solid.

Many popular crypto analysts and channels have highlighted Solaxy’s potential.

For instance, 99Bitcoins, a well-known channel with over 700,000 subscribers, recently reviewed Solaxy. In their new video, the analyst from their team discussed the project’s potential.

He highlighted how the hype could snowball further once SOLX is introduced to mainstream exchange audiences.

And it’s not even just about the big channels. Other analysts have pointed out how Solaxy’s concept could prove useful if Solana experiences another wave of high-volume trading.

Because users can offload their trades to a second layer, the entire ecosystem may run more efficiently—a win-win for both developers and traders.

If the project delivers on its promise, it could set a new benchmark for Layer-2 scalability within the Solana ecosystem.

Interested investors can follow Solaxy on X and join its Telegram channel to receive the latest project updates.

Visit Solaxy Presale

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

Readers are also advised to read CryptoPotato’s full disclaimer.