
make america great again!!! 🇺🇸  and we love crypto!
https://t.co/SiYwteBGkv @pumpdotfun 🫡 pic.twitter.com/3IDlAoaQJq— Caitlyn Jenner (@Caitlyn_Jenner) May 26, 2024
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-16.82%Reading
It's been another boring week for Bitcoin but non-stop craziness for the rest of the industry.
The price of Bitcoin broke above $70,000 on Monday but is now trading for $67,635, down about 2% over seven days.
Its dip is in part due to news that defunct Bitcoin exchange Mt. Gox moved more than $9 billion worth of BTC to an unknown wallet yesterday, which caused the market to think that creditors were about to be repaid.
Since then, the collapsed exchange's former CEO Mark Karpelès has reassured people that "there is no imminent sale of Bitcoins happening."
In the Ethereum world, the second-biggest coin by market cap has not budged at all over the week—even following the historic approval of exchange-traded funds (ETFs) last week.
Ethereum's price currently stands at $3,798, according to CoinGecko. Analysts did say that the coin was due a bull run soon, though.
But in the world of memes and alts, the action was non-stop.
Firstly, Sahil Arora, a promoter who works with celebrities to launch crypto projects, launched a meme token with Caitlyn Jenner. The Solana-based project sent crypto Twitter into meltdown on its launch.
make america great again!!! 🇺🇸  and we love crypto!
https://t.co/SiYwteBGkv @pumpdotfun 🫡 pic.twitter.com/3IDlAoaQJq— Caitlyn Jenner (@Caitlyn_Jenner) May 26, 2024
Olympic gold medalist and member of the Kardashians then told Decrypt that she'd fallen out with Sahil, and that he owed her "lots of money."
After helping Caitlyn Jenner launch a meme coin and allegedly stealing “lots of money” from her, as Jenner claimed, crypto promoter Sahil Arora quickly moved onto a new celebrity subject: rapper Iggy Azalea. But Azalea launched her own token instead of working with Arora, slamming the promoter in a series of tweets Tuesday. That didn’t stop Arora from apparently taking in $380,000 worth of funds in a presale for an Iggy Azalea token of his own—and it still hasn’t been airdropped to those who sen...
The token, JENNER, has since plunged and is trading at a big loss since its launch.
But the circus surrounding the celebrity and her move into the crypto space helped push up other more established tokens in the meme space: Dogwifhat and FLOKI are both big winners this week, having surged by 15% and 14%, respectively.
Dogwifhat is currently trading for $3.41; Ethereum-based FLOKI is priced at $0.0002588.
In other news, former FTX executive Ryan Salame received 90 months in prison. And crypto exchange Gemini said Wednesday that it will pay out over $2 billion worth of digital assets to customers of its Earn lending program.
In terms of big gains, Telegram-based "social clicker" game Notcoin's NOT token is the biggest winner of the week, having surged by 148% to $0.01354 in seven days.
Hype around the project and its token took off since it launched "earnings missions" that enable players to passively earn crypto rewards by using the messaging app.
It's now priced at $0.01285.
Finally, the guilty verdict for former president Donald Trump dominated the end of the week. While the impact of the news on the broader market is being hotly debated, it was good news for meme coins dedicated to Trump—albeit after a notable plunge.
Edited by Ryan Ozawa.
Illustration by Mitchell Preffer for Decrypt. Is Bitcoin back? For at least a little while, it feels like it may be. This time last week, it was trading for $53,229. It’s now trading above $60,000, according to CoinGecko. That’s a 12% rise over seven days, and a threshold unseen since last month. The price rise came as traders grew more confident that the Fed would slash interest rates by 50 basis points instead of 25. All eyes are on the central bank next week after two years of sky-high inter...
Illustration by Mitchell Preffer for Decrypt. There's depressing news for those hoping the price of crypto markets would improve this week. Depressing news for nearly all investors, it would seem. Bitcoin continued to drop, and hard, this week. Over the past seven days, the price of the asset has descended by more than 9% and—after dipping as low as $52,690 on Friday—rolled into the weekend trading hands for $53,229, according to CoinGecko. That’s significantly lower than its 2021 record of $...
Illustration by Mitchell Preffer for Decrypt. It was a fairly uneventful week in the crypto world... until Friday. The action-packed end to the week came with an increase in the price of Bitcoin, buoyed by crypto market optimism after Federal Reserve Chair Jerome Powell gave his strongest signal yet that he will slash interest rates come September. The price of the asset popped above $64,600, according to CoinGecko, a more than 7% rise over the week. It slid into the weekend at $63,500. Still,...