Bitcoin hovered around $42,500 in the European morning after falling below $43,000 during the Asian session. At the time of writing, BTC is trading at around $42,580, down 2.25% in the last 24 hours. Bitcoin is expected to end the month roughly halfway between its high of about $47,000, which it reached after the first BTC ETFs were listed in the US, and the low of about $38,500, which it reached achieved two weeks later. The CoinDesk 20 Index, which measures the performance of major digital assets, is down 3.11%. Solana's SOL, Cardando's ADA and Avalanche's AVAX were among the biggest decliners, down 6.7%, 5.4% and 6.2%, respectively.
NFT indices rose almost 10% in January. Meanwhile, Ether, the cryptocurrency in which many of them are denominated, has gained just over 2%. The increases are noticeable because NFT prices in Ether were initially unable to keep up with the cryptocurrency's rise at the end of the year. However, traders appear to have changed their minds as the hunt for utility or real-world uses is underway. The founder of NFT-focused VC firm Animoca Brands, Yat Siu, told CoinDesk in an interview that he attributes the rally to the sector's newfound maturity and diversity. “The majority of speculators in the NFT space have left, which has strengthened the foundation as the remaining people are genuinely interested,” he said.
Solana-based decentralized trading aggregator Jupiter will unveil its native token at 10:00 EST (15:00 UTC) with an initial circulating volume of 1.35 billion. With JUP-USD perpetuals trading at around 67 cents on Aveo this morning, the token could open with a market cap of around $700 million. Of the initial circulating supply of 1.35 billion, 1 billion coins are for airdrops, 50 million each for loans to market makers on centralized exchanges and liquidity pool needs, and 250 million for a starting pool. According to data source Airdrop Official, about 955,000 wallets that interacted with Jupiter before November 2nd are eligible for the airdrop.
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