Bonk

Bitcoin has recorded a 26 percent gain so far in January, as the world's most popular cryptocurrency makes a sharp recovery from the global crypto meltdown that began in October 2022. Amid a rise in the value of cryptocurrencies, Bonk, a memecoin launched at the end of December on the Solana blockchain, rocketed 5,000 percent by early January.

"After a rough year last year for cryptos, we are seeing a form of mean reversion," said Jake Gordon, analyst at Bespoke Investment Group, referring to the theory of asset prices returning to long-term averages.

Bitcoin has recorded a 26 percent gain so far in January, as the world's most popular cryptocurrency makes a sharp recovery from the global crypto meltdown that began in October 2022. Amid a rise in the value of cryptocurrencies, Bonk, a memecoin launched at the end of December on the Solana blockchain, rocketed 5,000 percent by early January.

"After a rough year last year for cryptos, we are seeing a form of mean reversion," said Jake Gordon, analyst at Bespoke Investment Group, referring to the theory of asset prices returning to long-term averages.