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NFT Gaming

HYPE, SUI Lead Altcoin Losses as Ethereum Dips Under $4,300

by admin August 18, 2025

In brief

Hyperliquid (HYPE) and SUI led losses among major altcoins as Bitcoin’s correction from $118,000 to $115,000 triggered widespread liquidations.
The selloff comes ahead of Thursday’s Jackson Hole Economic Symposium, with analysts noting funding rates had been “warning of trouble” and higher-than-expected PPI data forcing markets to scale back September rate-cut expectations.
Analysts called the market move “a corrective pullback within an uptrend” but warned that if Ethereum breaks below $4,150 support, further cascading liquidations could target the $3.9k–$3.6k range.

Ethereum’s slip below $4,300 set off a chain reaction across crypto markets Monday morning, wiping out more than $487 million in long positions and leaving altcoins bleeding.

Hyperliquid (HYPE) plummeted 8.7% to $43.38 while Sui (SUI) crashed 7.3% to $3.55, leading a brutal selloff across altcoins.

Ethereum (ETH) shed 5.4%, Solana (SOL) tumbled 5.6%, and Cardano (ADA) declined 6.2%, according to CoinGecko data.

XRP (XRP) fell 4.5%, Stellar (XLM) dropped 5.4%, and Dogecoin (DOGE) retreated 4.6% in the last 24 hours.

“This looks like a fairly natural pullback after the strong run many cryptocurrencies had seen in recent weeks, with liquidations amplifying the downside across the market,” Nansen analyst Nicolai Sondergaard told Decrypt.

“Since altcoins tend to react more sharply during these periods, tokens like HYPE and SUI experienced even steeper declines,” Sondergaard noted, pointing out that Bitcoin’s sell-off triggered the declines.

Traders brace for Jackson Hole meeting

The liquidation cascade comes ahead of Thursday’s Jackson Hole symposium, with QCP Capital analysts sharing in their latest report how “some traders believe that the overnight washout reflects de‑risking ahead of the symposium,” where Fed Chair Jerome Powell takes the stage.

Held each August in Jackson Hole, Wyoming, the symposium gathers the Fed, global central bankers, and policymakers.

QCP analysts added that “BTC funding rates had been warning of trouble” with rates turning negative by Saturday despite spot prices rising over the weekend.

“The U.S. PPI came in higher than expected, forcing markets to quickly scale back September rate-cut bets that earlier signs of labor market softness had elevated,” Dan Chen, analyst at crypto exchange Bitunix, told Decrypt.

Chen called the selloff “a corrective pullback within an uptrend” and said the market may consolidate through Jackson Hole if Ethereum “can hold support near $4,150” before resuming its advance.

However, he warned that “a breakdown risks further cascading liquidations with downside targets in the $3.9k–$3.6k range, where altcoins—especially HYPE and SUI—are likely to stay relatively weaker.”

Some 75% of Ethereum’s $206.79 million in liquidations in the last 24 hours came from long positions, totaling more than $180.52 million, according to CoinGlass data.

“The mounting queue of soon-to-be-unstaked ETH could be driving the asset’s recent retracement,” Juan Leon, Bitwise Senior Investment Strategist, previously told Decrypt.

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August 18, 2025 0 comments

NFT Gaming

WULF Gains Another 10%

by admin August 18, 2025

AI cloud platform Fluidstack has exercised its option to expand at TeraWulf’s (WULF) Lake Mariner data center campus in Western New York.

The expansion adds CB-5, a new purpose-built data center building providing an incremental 160 MW of critical IT load, with operations expected to commence in the second half of 2026, according to a Monday morning press release.

Alongside, Google (GOOG) is adding $1.4 billion to its backstop supporting the project’s debt financing. In return, Google is receiving warrants for 32.5 million shares of WULF. Google’s total backstop now totals $3.2 billion and its pro forma equity ownership has risen to 14%.

“This expansion underscores the unmatched scale and capabilities of the Lake Mariner campus,” said Paul Prager, CEO of TeraWulf. “By adding CB-5, we are not only increasing our contracted capacity with Fluidstack, but also further deepening our strategic alignment with Google as a critical financial partner in delivering the next generation of AI infrastructure.”

WULF is higher by 10% premarket and now has nearly doubled in price since the Fluidstack/Google news was first announced late last week.

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August 18, 2025 0 comments

NFT Gaming

NFT Market Cap Drops $1.2B as Ether Declines; Penguins Overtake Apes

by admin August 18, 2025

The non-fungible token (NFT) market lost more than $1.2 billion in value in less than a week as Ether’s rally slowed, according to sector data.

On Monday, NFT Price Floor data showed that the total valuation of NFT collections had dropped to $8.1 billion, a 12% decline from Wednesday’s NFT market cap of $9.3 billion, which had surged 40% since July.

NFTs losing $1.2 billion in valuation in less than a week coincided with a 9% drop in Ether (ETH) prices. At the time of writing, Cointelegraph data showed ETH traded at $4,260, down from a high of about $4,700 on Wednesday.

Many NFTs are minted on the Ethereum network. With valuations and sales denominated in ETH, bullish or bearish momentum in the crypto asset often translates into increased or decreased value in the NFT sector. As ETH went down 4% in the last 24 hours, a majority of the top 10 collections also showed declines in value.

Top 10 NFTs by market capitalization. Source: NFT Price Floor

NFT market cap drops by over 12% as ETH declines

While it continued to be the top collection by market capitalization, CryptoPunks saw about $300 million wiped from the collection’s value.

At the time of writing, data showed it was worth $2.1 billion, down 12% from its 2.4 billion market cap on Wednesday.

CryptoSlam data showed that the collection’s sales volume reached $12.7 million, a 34% drop in the last seven days. Total sales only reached 51, down 28% in the last week.

The Bored Ape Yacht Club (BAYC), which was ranked second in overall NFT market capitalization on Wednesday, dropped to third place on Monday, as the collection declined to $482.3 million.

This represented an almost 20% drop from Wednesday’s $602 million.

Related: NFT sales surge to $574 million in July, second-highest in 2025

Penguins overtake Apes in market capitalization

Meanwhile, Pudgy Penguins climbed to the second-highest valuation despite erasing about $100 million in overall value.

On Monday, the collection’s market cap was $491 million, down 17% from Wednesday’s $591 million.

Last week, publicly traded blockchain company BTCS Inc. announced that it added three Pudgy Penguins NFTs to its corporate digital asset treasury.

This showed that companies are beginning to recognize blue-chip NFT collections as legitimate assets for treasury diversification.

Magazine: Jack Butcher’s no fan of NFT royalties: ‘You’re getting paid on churn’

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August 18, 2025 0 comments

NFT Gaming

Dogecoin Founder Reacts to Sudden Crypto Market Collapse

by admin August 18, 2025

Dogecoin (DOGE) founder Billy Markus, known on X as Shibetoshi Nakamoto for his sarcastic and ironic comments on cryptocurrency, has dropped a note on the current market outlook. In a post for his more than 2.2 million followers, Markus captured recent events with different crypto assets and their attempts to hit new levels.

Billy Markus mocks 2025 crypto price trends

Markus used a GIF of “Kermit the Frog” falling from a high rooftop to illustrate the price pattern with different crypto assets in 2025. He accompanied the GIF with the words, “Crypto when nearing ATHs in 2025.”

Crypto collapse near ATH frustrates investors

Reacting to the post, a user, “Alpha Doge,” agreed with Markus’ stance and highlighted his frustration with the nose-dive pattern each time the price is nearing an ATH. He believed that crypto assets appear to be deliberately trying to drive investors over the edge.

Dogecoin Price Analysis as Qubic Community Plans a 51% Attack on Dogecoin, $DOGE’s Price Action Remains Reactive, and Maxi Doge Soars

by admin August 18, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Stay Ahead with Our Immediate Analysis of Today’s Dogecoin Updates

Check out our Live Dogecoin Updates for August 18, 2025!

In 2025, Dogecoin stands shoulder-to-shoulder next to Bitcoin. One is the first cryptocurrency, while our doggo friend is widely recognized as the first meme coin.

Launched in 2013, $DOGE is up by over 39,000% today, looking at a price of over $0.22 and a trading volume in the billions of dollars. If anything, Dogecoin proves that ‘anything is possible’ in crypto, and even underdogs can become industry giants.

With endorsements from industry moguls like Elon Musk and official investment vehicles like the Grayscale Dogecoin Trust, $DOGE seems to be going nowhere but up.

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We update this page frequently throughout the day, as we get the latest and greatest insider insights for Doge lovers and memecoin enthusiasts, so keep refreshing!

Disclaimer: Crypto is a high-risk investment, and you may lose your capital. Our content is informational only, and it does not constitute financial advice. We may earn affiliate commissions at no extra cost to you.

Today’s Dogecoin Technical Analysis 📊

Dogecoin has dropped over 9% in just the past few hours, sparking panic among meme coin enthusiasts.

On the brighter side, though, the token is now approaching a key support zone – the same level that fueled a 16% rally in early August and has previously acted as both strong support and resistance.

On the 4-hour chart, Dogecoin’s price is trading comfortably below the short-term moving averages (10, 20, 50, and 100 EMA), leaving only the 200 and 400 EMAs as meaningful layers of support as far as technical indicators are concerned.

So, if Dogecoin breaks below these zones, it could trigger a deeper correction, possibly toward $0.18864. This would result in another 14% drop from current levels.

However, on the daily chart, Dogecoin has yet to even test its 50 EMA. This suggests that while short-term price drops are to be expected, the longer-term outlook remains bullish. That said, a clear continuation signal will still be needed to confirm the trend.

Dogecoin Under Fire: Maxi Doge is Built to Withstand

August 18, 2025 • 10:00 UTC

Dogecoin slipped over 4% today as the Qubic community voted to target it with a 51% attack like the one it launched on Monero, which caused a sharp decline in its price.

The threat has sparked panic among $DOGE holders, with Santiment’s NPL data showing the largest loss since July 2022, and Coinglass’s long-to-short ratio hitting 0.79, signaling potential for further price decline.

With $DOGE under attack, traders are rotating to new meme coins on presale like Maxi Doge.

Unlike Dogecoin, Maxi Doge ($MAXI) is not a proof-of-work coin, making it immune to Qubic’s mining-based 51% attacks. It also lacks minting or blacklist functions that could be exploited by attackers. What’s more, its smart contract’s been audited with zero critical vulnerabilities found.

As dogens look to camp out while Qubic eyes its next mark, find out how to move your funds into Maxi Doge.

Why Maxi Doge Is Eating Dogecoin’s Lunch

August 18, 2025 • 10:00 UTC

The old alpha $DOGE appears to be skulking back as tokens that solve real problems take the lion’s share.

Trading near $0.22, Dogecoin’s price action remains highly reactive; driven more by sentiment than substance, showing sharp rallies often followed by steep drops.

With no clear roadmap, limited utility, and hype cycles that fizzle fast, $DOGE’s role as a portfolio staple may be fading.

Traders are increasingly looking for tokens with stronger fundamentals, tokens like Maxi Doge ($MAXI): the meme coin built for this new cycle.

Maxi Doge embodies extreme degen culture, featuring a muscular, caffeine-fueled Shiba Inu with a no pain, no gain attitude to life and trading.

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Offering zero-tax trading, dynamic staking rewards, and a community jacked, juiced, and pumped for breakout momentum, $MAXI is where smart degen money is moving now.

Discover the next 1000x crypto.

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August 18, 2025 0 comments

Why Ethereum should not be ignored amidst massive institutional capital inflows

NFT Gaming

Here’s why ETH is down today

by admin August 18, 2025

After nearly a month in the green, Ethereum price has come with the market’s second-largest cryptocurrency reversing sharply from its recent highs.

Summary

Ethereum price has dropped 5% in the past 24 hours, extending a 10.6% decline from this month’s peak above $4,759.
Over $870 million in leveraged crypto positions were liquidated in the past day, with ETH alone accounting for $210.6 million.
Profit-taking is accelerating among both institutional and retail investors, adding to selling pressure.

The price of Ethereum (ETH) has seen it slip approximately 5% over the past 24 hours, trading slightly under $4,255 at the time of writing per market data from crypto.news. The day’s decline extends the downturn that commenced over the weekend, marking a 10.6% drop from its this month’s peak above $4,759.

The drop in Ethereum’s price marks a strong reversal of its multi-day rally just last week, which lifted this month’s gains above 60%. But what’s driving the pullback?

Ethereum price crash explained: profit-taking and longs get rekt

Ethereum’s decline comes amid a wave of liquidations. Over the weekend, billions of dollars in leveraged long positions were wiped out as Ethereum dropped through key support levels, triggering a wave of forced selling.

In the past 24 hours alone, more than $870 million worth of crypto positions have been liquidated, with ETH alone accounting for roughly $210.6 million according to data from Coinglass. This marks nearly double the liquidations seen in Bitcoin (BTC), underscoring how heavily traders were leveraged on Ethereum’s upside. The cascade of unwinding pushed prices lower fast, amplifying losses.

Another key driver of the price dip is a cooldown in Ethereum exchange-traded funds. After recording their strongest week since launch, the nine U.S.-listed funds closed their latest session in the red.

Data from SoSoValue shows that five issuers recorded heavy outflows, with the largest single withdrawal topping $272 million, pointing to profit-taking among investors who piled in earlier this month. On-chain data shows a similar trend among retail investors, who are also locking in gains and adding to the selling pressure.

But ETH’s losses are not happening in isolation, and mirror the broader weakness in the crypto market. BTC is down about 2.3% on the day, while other major altcoins like Solana (SOL) and XRP (XRP) have dropped around 5%. The broader pullback comes amid shifting macro expectations, particularly ahead of Fed Chair Jerome Powell’s speech this week and growing uncertainty around rate cuts, adding pressure on risk assets across the board.

Why is Ethereum down?

While the long-term outlook for ETH remains strong, near-term signals are mixed. From a technical perspective, ETH is holding just above the 20-day EMA at $4,134. If it fails to hold up this level, it could face further downside, with the next major support sitting at the 50-day EMA around $3,651.

ETH’s price chart | Source: TradingView

Further breakdown beyond that next support would mark a deeper correction, potentially erasing much of the recent rally’s gains.

At the same time, momentum indicators are showing caution. The Relative Strength Index (RSI) has cooled to 58, down from overbought territory above 70 earlier this month. This suggests buyers are losing steam and the market is shifting toward a more neutral setup.

To regain bullish traction, ETH would need to reclaim $4,500 to signal renewed strength, and a push beyond $4,750 to $4,800 remains the key hurdle before any attempt at fresh highs.

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August 18, 2025 0 comments

NFT Gaming

New York Crypto Tax Could Generate $158 Million a Year, Says Lawmaker

by admin August 18, 2025

In brief

New York State Assemblymember Phil Steck proposed a 0.2% excise tax on cryptocurrency transactions.
He estimates that the tax would generate $158 million annually, based on Chainalysis data from 2022 to 2023 and recent GDP statistics.
The revenue would help combat substance abuse in upstate New York.

New York Assemblymember Phil Steck introduced legislation on Wednesday that would generate sweeping tax revenues from cryptocurrency transactions across the state.

Under Bill A0966, the Empire State would immediately impose a 0.2% excise tax on crypto transactions, using the proceeds to help schools combat substance abuse in upstate New York, where the opioid epidemic has severely impacted communities for years.

In a bill memo shared with Decrypt on Friday, Steck estimated that the levy would generate $158 million in annual revenue from “crypto investors [that] are driven by a single motive: the desire for quick and instant wealth.”

“The funding shall be used to expand the substance abuse prevention and intervention program to schools in upstate New York,” a separate description of the bill states.

Steck, a Democrat, chairs New York’s Standing Committee on Alcoholism and Drug Abuse, and the group oversees the state’s Office of Addiction Service and Supports, which serves over 730,000 individuals per year, according to an annual report. In 2023, 33 out of every 100,000 New Yorkers lost their lives to drug overdoses, the report notes.

The legislation comes as some states push forward with other crypto-related initiatives to assist schools as well, like Wyoming, where cash generated by the reserves of its soon-to-be-released stablecoin will get swept into the Cowboy State’s education fund.

As of 2023, cryptocurrencies like Bitcoin were treated as cash equivalents for tax purposes in New York, among seven other states, including California, according to Bloomberg Tax. A more recent tax guide from crypto accounting software firm Bitwave says that digital assets are already subject, like other assets, to capital gains tax, gift tax, and estate tax in New York.

In its initial form, the scope of Steck’s bill is broad, with tax implications for NFTs, digital assets obtained through mining and staking, as well as stablecoins, based on its text.

The New York Department of Financial Services, which regulates crypto firms through its BitLicense regime, would not provide Steck with data on the volume of crypto transactions, his memo notes. In a quarterly report, the regulator said it supervised 845 million transactions across 20 total institutions in 2024, but did not include the dollar amount.

The data likely doesn’t capture residents’ crypto transactions as well, so Steck found a workaround: He took the dollar-value of cryptocurrency that crypto analytics firm Chainalysis said was sent to the U.S. between July 2022 and June 2023, roughly $1 trillion, and adjusted that based on New York’s share of U.S. GDP in 2024, yielding $79 billion.

That number could be higher, with New York City serving as the epicenter of the financial world and home to a growing number of crypto-native firms like stablecoin issuer Circle, crypto exchange Gemini, and institutional firm Galaxy Digital.

Steck highlights scrutiny that the digital assets industry faced following the collapse of crypto exchange FTX in 2022, saying it has been “vulnerable to fraud and scams.” The memo lists Gemini, among other firms, as companies that were accused of defrauding clients.

Decrypt reached out to Gemini for comment, but did not receive a response.

New York State Attorney General Letitia James recovered $50 million worth of digital assets from Gemini through a settlement last year, after accusing the exchange of misleading investors about risks associated with its Earn platform.

In 2023, James brought a lawsuit against the exchange, bankrupt crypto lender Genesis, and crypto conglomerate Digital Currency Group for allegedly defrauding 230,000 investors out of more than $1 billion.

Steck’s memo also highlights the enormous amount of energy that computers consume when participating in the process of mining, or validating Bitcoin transactions, describing the environmental impacts of cryptocurrencies as “another downside.”

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August 18, 2025 0 comments

NFT Gaming

Golden Cross Fails to Lift DOGE as Sellers Overwhelm Rally

by admin August 18, 2025

Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.

Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.

He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.

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August 18, 2025 0 comments

NFT Gaming

XRP Slips Below $3 as Nearly $500 Million Worth of Crypto Gets Liquidated

by admin August 18, 2025

Longs getting wiped out
Key level to hold

XRP, one of the top altcoins by market cap, slipped to an intraday low of $2.96 earlier this Monday.

The token has hit its lowest level since Aug. 6 as bulls struggle to regain their momentum.

XRP/USD by TradingView

CoinGecko data shows that XRP is currently the second worst-performing token in the top 10 with a 24-hour drop of more than 4%. Only Solana (SOL) has underperformed it, plunging by as much as 5%.

The entire cryptocurrency market is currently under substantial selling pressure, with Bitcoin also taking a significant hit.

Longs getting wiped out

Earlier this Friday, the top cryptocurrency came awfully close to dropping below the $115,000 level, registering an intraday low of $115,059.

According to CoinGlass, a whopping $464.70 million worth of crypto has been liquidated over the past 24 hours. Long positions account for the lion’s share of this wipeout ($380 million).

Key level to hold

As reported by U.Today, $2.81 is viewed as the crucial level for the leading cryptocurrency to hold since roughly 1.7 billion tokens had been accumulated there.

XRP is currently changing hands at $2.98 on the Bitstamp exchange.

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August 18, 2025 0 comments

NFT Gaming

Altseason Momentum Strengthens As Altcoin Liquidations Surpass Bitcoin

by admin August 18, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Speculation about a potential “altseason” has grown in the third quarter of 2025, fueled by brief periods in which several altcoins outperformed Bitcoin (BTC). However, the broader altcoin market has struggled to sustain momentum due to Bitcoin’s choppy price action, pressured by ongoing macroeconomic headwinds. Even so, fresh market data indicate traders are gradually shifting their focus away from Bitcoin and toward alternative cryptocurrencies, raising expectations that altcoins could drive the next leg of the crypto bull market.

Crypto Sentiment Shifts: Altcoins Lead In Liquidations, Overtake BTC

An altseason is defined as a period in the crypto bull run where altcoins generally outperform Bitcoin. It is typically marked by a decline in BTC Dominance as investors rotate capital from Bitcoin into other cryptocurrencies that promise higher profit returns during this period. Over the last two months, signals of an impending altcoin dominance for the current bull market continue to pile up.

In a QuickTake post on CryptoQuant, CEO & Founder of Alphractal, Joas Wedson, reports another omen in that altcoin liquidations are now higher than those of Bitcoin. From January to December 2024, the majority of cumulative liquidations on Binance came from Bitcoin positions, significantly outpacing those of all other cryptocurrencies.

Source: CryptoQuant

This trend painted a clear picture, i.e., Bitcoin was the primary focus for leveraged traders. However, since the start of 2025, the tides have turned. The BTC vs. Altcoin Cumulative Liquidation Delta, a key metric tracking the liquidation disparity between Bitcoin and altcoins, has been falling steadily throughout 2025. This decline indicates that altcoin liquidations are catching up and now surpassing those of BTC.

In the second half of 2025, this shift has become more pronounced, suggesting that traders are now more active and more vulnerable in altcoin markets than ever before. Wedson explains the bullish implications of this development for an altseason, stating that traders are now increasing speculations on altcoins more than Bitcoin.

This suggests a significant change in market behavior as Ethereum, XRP, and other alternative cryptocurrencies are increasingly being viewed as higher-risk, higher-reward vehicles, even as Bitcoin remains the dominant store of value in the crypto space.

Crypto Market Overview: Altseason Remains On Hold

At the time of writing, the total crypto market cap is now valued at $3.93 trillion following a 0.22% gain in the past day. Altcoins currently account for 40.4% of this value with a collective market cap of $1.59 trillion.

Meanwhile, the CoinMarketCap’s Altseason Index currently reads 46, suggesting that while altcoins are gaining ground, market conditions have yet to fully align with a classic “altseason” scenario.

Total altcoin market cap valued at $1.59 trillion on the daily chart | Source: TOTAL2 chart on Tradingview.com

Featured image from PlasBit, chart from Tradingview

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August 18, 2025 0 comments