From Bitcoin hitting $59k to the US prefering Ethereum over other coins, here is a 2-minute breakdown of everything important that happened in crypto today.
When we sat down to start writing this news roundup, Bitcoin was hovering around $57K, and the mood among traders was cautiously optimistic.
Within a matter of hours though, Bitcoin went on a powerful rally, blasting through the $59k like a hot knife through butter. Meanwhile, the CMC Crypto Fear & Greed Index spiked to 80, signaling extreme greed in the markets as FOMO has firmly taken hold.
These wild market swings never cease to keep us on our toes!
On that note, here is our Meme of the Day:
While markets giveth and markets taketh away, the real stories in crypto often happen outside the charts and ratios. That's why we're here - to keep you updated on the technology, adoption, regulation, and trends that underpin this dynamically changing space.
In today's edition:
- The U.S. goes crazy for a top coin despite market uncertainty 🇺🇸
- Solana and Ethereum-based meme coins experience wild pumps 🐸
- A token gains 140% after a big VC investment 📈
- Ripple teams up with Axelar to accelerate real-world asset adoption 🏠
- Powerful senators oppose Biden's central bank digital currency plans 💵
Let’s dive deeper into each of these stories!
The U.S. Loves This Top Coin
There's a certain top coin that the U.S. traders just can't get enough of lately. No, it's not the OG coin that starts with a B. It's the other big dog – the smart contract leader that gave us NFTs and DeFi. Let's just say its name starts with E and rhymes with "3tharium."
New data reveals traders on Coinbase have been gobbling up $ETH tokens like Pacman.
In fact, $ETH buys on Coinbase are main the driving force for the +11% price pump we've seen over the past week.
So what's got U.S. traders suddenly so hungry for ETH? Read the full story!
Meme Coins Are Pumping
Brace yourself, 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 past week!
Not to be outdone, $WIF on Solana got in on the action with a 69% pump over 7 days.
Now, you may be wondering why these tokens are rallying all of a sudden. Read the full story!
This Coin Just Pumped 140%
Looks like one lucky coin just got a 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 that's more than 140% gains.
Now what does this mean? It shows Coinbase's big bets are lining up behind Base and its top protocols like Aerodrome.
And when you get a blessing from the VC gods, it usually means even more growth is coming. Read the full story!
Ripple Teams Up To Accelerate RWA
Two major players in crypto infrastructure are joining forces to advance real-world asset (RWA) tokenization on blockchain.
Ripple, the company behind XRP and the XRP Ledger, has officially partnered with Axelar - an interoperability protocol powering communication among 55+ chains.
Together, they aim to create the rails for RWA tokenization to really take off. We're talking tokenized real estate, artwork, shares in companies - you name it.
This could be a game changer for bringing traditional lending into crypto as collateralized loans.
Soon physical things becoming liquid crypto tokens could be the norm. But do they have VC backing to support this project? Do they have enough funds to pull it off? Read the full story!
Digital Dollar Is Facing Opposition
A group of senators just signed a new bill aimed at crushing Biden's dreams of a central bank digital currency (CBDC).
Led by Senator Ted Cruz, they don't want the fed controlling and tracking every burrito and beer purchase made by citizens.
The bill slams the brakes on CBDCs, blocking the central bank from issuing digital dollars without first going through Congress.
Cruz warned about the dangers of "government-controlled programmable money" that could monitor all your spending and even freeze access to your funds.
Are big politicians supporting this bill against CBDC? Read the full story!
And that concludes our news roundup.
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