Crypto News Sentiment
Updated: 1 month and 25 days ago
Crypto markets see surges! Fartcoin and XRP hit highs, while ETH and ADA rally.
However, a massive Solana dump hit Coinbase, and Upbit faces huge fines amidst Bitcoin's price dip.
Positive news
Key Points:
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Fartcoin (FART):
- Surged 18% to a monthly high.
- Driven by crypto-backed mortgage speculation.
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Memecoins and DeFi:
- Multiple memecoins and decentralized finance (DeFi) tokens posted significant gains (over 20%) in 24 hours.
- Notable performers include FLOKI (31.78%), CRV (26.77%), and others.
- Total crypto market capitalization increased by about 10% over the past week.
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XRP:
- Teased an all-time high as the XRP ETF approval looms.
- Hit a new all-time high of $3.40, a 10% daily and 35% weekly surge.
- Market cap reached $192.32 billion.
- Expected to reach $3.40, matching its 2018 high.
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Ethereum (ETH):
- Climb over 50% against Bitcoin, reaching 0.029 BTC.
- Advanced 22.5% since July 10, peaking at $3,484 per coin.
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Cardano (ADA):
- Inches closer to $1 with a 30% rally in one month.
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Regulatory Developments:
- U.S. Crypto Week brought regulatory shifts with the advancement of the GENIUS, CLARITY, and Anti-CBDC Acts.
- These measures outline stablecoin reserves, split SEC-CFTC oversight, and reject a retail CBDC.
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XLM (Stellar):
- Surged over 100% alongside XRP, both co-founded by Jed McCaleb.
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BONK:
- Delivered 20% profits in a single day, outperforming Shiba Inu and Dogecoin.
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XRP and ETF:
- Near an all-time high, with a market cap of $192.32 billion.
- Approaching $3.40, its 2018 high.
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Curve DAO (CRV):
- Experienced a 79% weekly rally and 23% daily rise.
- Trading volume reached
Negative news
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Solana Surge on Coinbase:
- Event: 299,999 Solana (SOL) tokens stunned America's largest cryptocurrency exchange, Coinbase.
- Context: This occurred during price rallies and potential profit-taking.
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Stablecoin Surge on Binance:
- Event: A $895 million stablecoin surge was observed on Binance.
- Details: Institutions were stacking stablecoins, while Tether (USDT) printed billions. Simultaneously, Bitcoin whales were pulling out amid Federal Reserve uncertainty.
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Upbit Fines:
- Event: South Korea's Upbit faces potential fines of up to $131.5 billion due to KYC and compliance failures.
- Impact: This raises significant concerns within the global cryptocurrency industry.
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Bitcoin Price Analysis:
- Event: Bitcoin (BTC) experienced a notable decline, falling below $118,000.
- Reasons: Selling pressure returned, causing the price to drop from around $118,000 to approximately $117,700.
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PENGU Token Dynamics:
- Event: Korean buying activity intensified for PENGU token.
- Concerns: However, sell pressure and outflows could hinder PENGU's potential breakout.
