Elon Musk-fueled meme coin rally appears to have finally ended.
Dogecoin/link and Shiba Inu (SHIB) have posted significant losses over the past 24 hours, per data from Coingecko.
DOGE has lost over 12.3% in value over the past 24 hours and trades at around $0.10, according to data from Coingecko. Despite today’s heavy losses, DOGE is still up 67.5% over the past 30 days.
Intense trading for the canine-crypto pumped its daily trading volumes across multiple exchanges to $2.3 billion, a 30% jump over the previous day.
With a market capitalization slightly above $14 billion, DOGE is still the 8th-largest cryptocurrency. If the downturn continues, however, it could drop its ranking to layer-1 blockchain Cardano (ADA).
Over $15.09 million worth of Dogecoin futures positions were liquidated over the past 24 hours, per data from Coinglass. Most liquidations (~80%) came from blown-out long trades.
Dogecoin liquidations, green bars indicate blown-out long trades. Source: Coinglass
SHIB backs DOGE
In the past, SHIB and DOGE price actions have strongly correlated. Today is no different.
The second-largest meme coin, Shiba Inu (SHIB), is also down 8.5%, wiping off the coin’s monthly gains over the past 24 hours, per data from Coingecko.
At press time, SHIB changes hands at around $0.00001.
Bitcoin erased gains Monday ahead of the U.S. midterm elections and the expected release of inflation data.
The largest cryptocurrency by market cap was trading for $20,710, down 2.4% in 24 hours, CoinGecko data showed at the time of writing.
It is now only up minimally in the past seven days by 0.5%, losing the gains it made at the weekend when it broke above the $21,000 mark—at one point hitting $21,414—jumping after news of job growth in the U.S.
Ethereum, the second biggest digital asset,...
The primary reason behind the market-wide bearish price action is likely around growing insolvency fears of crypto exchange FTX.
If unfortunately FTX becomes another LUNA,nobody in the industry can benefit from the accident including Binance. Both customers and regulators will lose some confidence about the whole industry .I hope CZ can think about stop to sell FTT and make a new deal with SBF.
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The fund generates approximately $268.5 million in annual revenue, with a 1.5% expense ratio applied to $17.9 billion in assets under management...
It's been one year since Bitcoin had its quadrennial halving event, which usually sends the price soaring.
But while it's true that Bitcoin rose to an all-time high in the months following the latest halving in April 2024, the percentage spike has not been nearly as sizable as in past cycles.
Data provider Kaiko told Decrypt that though the biggest coin's price is indeed up, macroeconomic factors have hindered it from making the same kind of gains.
In the report, Kaiko said that at recent level...
Another day, another crypto ETF filing. This time, a crypto asset manager is trying its luck with a fund that, if approved, would give investors exposure to Near Protocol.
A Thursday filing in the State of Delaware shows that paperwork to launch a NEAR ETF has been filed by Bitwise.
Filing with the State of Delaware is the first step in getting such a product approved. The asset manager still has to file with the Securities and Exchange Commission to get the process officially moving.
Near Pr...
