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The SPX index is down 0.28% but closest near record highs on the last trading day of 2023, due to declining inflation, a robust economy, and anticipated Federal Reserve rate cuts in 2024. The broader cryptocurrency market is up, with Bitcoin and Ether rising 2.56% and 2.37% respectively in the past 24 hours.
Today’s outperformer is SEI, which jumped 23.7% as SPACE ID's .sei name service rivals ENS in registrations and sets ambitious goals for 2024.
Sei Network (SEI), launched in August 2023, is a Layer 1 blockchain developed using the Cosmos SDK. It features integrated parallelization and automatic order bundling, enabling exceptionally rapid trading. SPACE ID's .sei Name Service (SNS) achieved nearly as many 24-hour registrations as the Ethereum Name Service (ENS) in 2023. Celebrating their successful year, they wished the .sei community a Happy New Year, marking 2023 as their inaugural year and expressing high ambitions for 2024, with a call to maintain their momentum.
Bitcoin (BTC) began the new year with a surge, crossing $45,000 for the first time since April 2022, marking a more than 6% increase. This rise is attributed to speculation that the U.S. Securities and Exchange Commission (SEC) may approve several spot bitcoin ETFs soon, with reports suggesting notifications could start as early as Tuesday. In recent trading, BTC's price was at $45,135, up 6.35% and 5.6% over 24 hours. Other cryptocurrencies like ether (ETH), solana (SOL), and avalanche (AVAX) also experienced gains, with increases up to 9%.