Solana's memecoin platform, Pump.fun, has blocked access to crypto traders in the U.K. as of Friday. The reason is due to "laws and regulations" affecting its rapid success.
This decision came just three days after the U.K.'s main financial regulator, the Financial Conduct Authority (FCA), warned that Pump.fun might be offering or promoting financial services without their approval. One of the founders confirmed the block but chose not to give more details.
Cryptocurrencies have been on an impressive run over the past few days, driven by renewed optimism after the presidential election. This week’s rally gained extra momentum when Bitcoin, the largest cryptocurrency, smashed through its $100,000 milestone. This milestone boosted confidence in the market, causing many altcoins, regardless of their size or popularity, to record significant price increases.
Shiba Inu (SHIB), a popular dog-themed meme coin, saw an 18% rise as of Friday morning, according to S&P Global Market Intelligence. Cardano (ADA), a more practical blockchain network, experienced a 12% boost. Meanwhile, Litecoin (LTC) and Chainlink (LINK) outpaced them with surges of 35% and 32%, respectively.
Bitcoin’s historic leap set the tone for this rally. As the most established cryptocurrency, Bitcoin often leads the way, with other cryptocurrencies following its performance. Altcoins, though diverse in their use cases and appeal, benefited from this ripple effect.
The broader rally can be attributed to a steady economy, slowing inflation, and limited alternatives offering such high returns. For now, cryptocurrencies seem to remain a beacon of opportunity for investors seeking substantial gains.
This week’s performance underscores the unpredictable yet rewarding nature of crypto markets, reaffirming their growing influence in the financial world. #AltcoinMarketWatch #CryptoMarketHype #