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What happened to cryptocurrencies today: Bitcoin continues to rise
What happened to cryptocurrencies today: Bitcoin continues to rise
When we sat down to begin writing this news roundup, Bitcoin was hovering around $57,000 and the mood among traders was cautiously optimistic.
Within a few hours, however, Bitcoin began a powerful rally, exploding above $59,000 like a hot knife through butter. Meanwhile, the CMC Crypto Fear & Greed Index rose to 80, signaling extreme greed in the markets as FOMO took firm hold.
These wild market swings never cease to keep us on our toes!
In this regard, here is our Meme of the day:
While markets give and markets take away, the real cryptocurrency stories often happen outside of charts and reports. That’s why we’re here: to keep you updated on the technology, adoption, regulation, and trends driving this ever-evolving space.
In today’s edition:
Let’s dive deeper into each of these stories!
The United States loves this flagship coin
There is a certain flagship coin that US traders I just can’t get enough of it lately. No, it’s not the OG coin that starts with a B. It’s the other biggie: the smart contract leader that gave us NFTs and DeFi. Let’s just say his name starts with E and rhymes with “3tharium.”
New data reveals that Coinbase traders have been gobbling up $ETH tokens like Pacman.
In fact, $ETH purchases on Coinbase are the main driving force of the +11% price pump we’ve seen over the past week.
So what made US traders suddenly so hungry for ETH? Read the full story!
The meme coins are pumping
Get ready, Meme coin mania seems to be back!
Let’s start with $PEPE, an Ethereum-based token featuring everyone’s favorite meme frog. This coin just gained +37% in 24 hours and +142% in the last week!
Not to be outdone, $WIF on Solana kicked in with a 69% pump in 7 days.
Now, you may be wondering why these tokens are suddenly recovering. Read the full story!
This Coin Just Pumped 140%
It looks like a lucky coin just got some big VC juice and gained about 140%!
The coin called $AERO powers a new liquidity protocol on Base (a trendy layer 2 network).
As soon as the news came out, $AERO exploded from $0.097 to $0.2538. We’ll save you the math, but trust us, the returns are over 140%.
Now what does this mean? This shows that Coinbase’s big bets are lining up behind Base and its core protocols like Aerodrome.
The story continues
And when you get a blessing from the VC gods, it usually means even more growth is on the way. Read the full story!
Ripple teams up to accelerate RWA
Two of the major players in crypto infrastructure are joining forces to advance real-world resources (RWA) tokenization on blockchain.
Ripple, the company behind XRP and XRP Ledger, has officially partnered with Axelar, an interoperability protocol that powers communication between over 55 chains.
Together, they aim to create the foundation for RWA tokenization to truly take off. We’re talking tokenized real estate, artwork, company stock, everything.
This could be a game changer for bringing traditional lending into cryptocurrencies as collateralized loans.
Physical things becoming liquid crypto tokens could soon be the norm. But do they have VC backing to support this project? Do they have enough funds to make it? Read the full story!
The digital dollar is facing opposition
A group of senators just signed a new bill aimed at crushing Biden’s dream of a central bank digital currency (CBDC).
Led by Senator Ted Cruz, they don’t want the feds to monitor and track every burrito and beer purchase made by citizens.
The bill puts the brakes on CBDCs, preventing the central bank from issuing digital dollars without first going through Congress.
Cruz warned of the dangers of “government-controlled programmable money” that could monitor all your spending and even freeze access to your funds.
Do big politicians support this anti-CBDC bill? Read the full story!
And this concludes our news roundup.
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