The latest price moves in bitcoin (BTC) and crypto markets in context for August 25, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Source
Apecoin (APE) finds itself in turbulent waters as the once-promising gaming token experiences a precipitous decline, marking a 30% drop in the last 30 days, despite the efforts of bullish investors to shore up its value, APE has plummeted well below the $1.70 support level, raising concerns of a potential free-fall that could see its value revisit the abyss of $1. Currently trading at $1.41, according to CoinGecko, APE has faced a 6% decline in the past 24 hours and a 7.2% loss over the last seven days. APE price…
Around one in three United States investors would be open to following AI-generated financial advice without verifying it with another source, according to a recent survey. On Aug. 22, the Certified Financial Planner Board of Standards released the results of a poll that surveyed over 1,100 adults in early July. Only 31% of the respondents had actually received financial planning advice from AI, with 80% recorded some level of satisfaction with the experience. Older respondents were more likely to be satisfied with the experience compared to those under 45 years of…
Millions of dollars worth of the PEPE meme coin flooded crypto exchanges Thursday, spooking investors who drove its price down and drawing attention to spooky action in the project’s multisig, among the single-largest holders of the joke cryptocurrency. Source
This year has been marked by significant volatility across the crypto market, including for Bitcoin, which has seen both gains and losses over the course of the year. Just a month ago in the middle of July, Bitcoin crossed over $30,000 and many investors saw this as the start of another bull run. However, things seem to have taken a turn, as the price of Bitcoin has plateaued since then. The asset is currently struggling to find a push in price, and it would seem this sentiment has flowed into…
Data shows the Bitcoin market sentiment has plunged into fear as the cryptocurrency’s price has observed a crash to the $26,500 level. Bitcoin Fear & Greed Index Points At “Fear” In The Market The “Fear & Greed Index” is an indicator that tells us about the general sentiment among investors in the Bitcoin and wider cryptocurrency market. This metric uses a numeric scale that runs from 0-100 for displaying the sentiment. All values above the 54 mark suggest the presence of greed among the investors, while those below 46 imply…
Fine arts auction firm Sotheby’s has recently been named in the class-action lawsuit filed by Bored Ape Yacht Club (BAYC) investors against BAYC creators Yuga Labs. The investors allege that the auction house helped Yuga Labs “deceptively promote” the nonfungible token (NFT) collection. On Dec. 10, BAYC investors filed a class-action lawsuit against over 40 defendants including Yuga Labs and celebrities like Post Malone, Justin Beiber and Paris Hilton. The lawsuit alleged that Yuga Labs and the celebrities were able to “artificially increase” the prices of the NFTs through celebrity…
Derivatives marketplace CME Group is launching Bitcoin (BTC) and Ether (ETH) reference rates for the Asia Pacific region, in another sign of growing institutional interest in crypto from Asia. On Aug. 16, derivatives marketplace CME Group said it’s partnered with crypto indices provider CF Benchmarks and on Sept. 11 to launch the two Asia Pacific-focused crypto reference rates. Reference rates are used as a credible source of a cryptocurrency’s price and are used — in CME’s case — to price settlements of crypto futures contracts. CME Group said from Sept.…
Toncoin (TON) has showcased healthy market status since the end of last week. According to historical data from TradingView, it witnessed a consecutive bullish trajectory from August 11, 2023, until today, August 16. The upward movement drew the attention of investors, resulting in a price increment of over 12% gain in the past seven days. Notably, the latest developments within Toncoin’s ecosystem could be the reason for the market uptick in the past few days. However, TON’s market value today, August 16, is $1.44, representing a price drop of over…
Perceptions of token issuance by projects have changed dramatically during the crypto winter. Source