Tag:

Geopolitical

Shaurya Malwa
NFT Gaming

The dog-themed mememcoin dropped to two-week low as geopolitical tensions and macroeconomic pressures roil crypto markets.

by admin



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.



Source link

0 comments
0 FacebookTwitterPinterestEmail
AVAX price down 9.75% on geopolitical tensions, but technicals saw it coming
Crypto Trends

AVAX price down 9.75% on geopolitical tensions, but technicals saw it coming

by admin



AVAX dropped almost 14% after Israel’s strike on Iran, more than most crypto assets, as bearish technicals prevailed.

Altcoins have taken a beating after Israel’s attack on Iran stoked fears of a broader Middle Eastern conflict. On Friday, June 13, Avalanche (AVAX) dropped more than 14%, to a daily low of $18.53. The token later stabilized at around $19, but still posted a daily decline of 9.75%.

Avalanche was just one of the altcoins that dropped as risk-off sentiment prevailed in the markets. Rising oil prices, which are fuelling inflation fears, are making traders flee to safe-haven assets. However, Avalanche’s declines were worse than the average, with just 23 out of the top 100 tokens seeing a worse drop.

A part of the reason was weak technicals, especially a long-term bearish pattern that formed in 2024. AVAX price formed a double-top pattern at $55.20, and subsequently crashed below $15. This pattern suggests that the price will face significant resistance before it can regain its previous levels.

AVAX price chart | Source: crypto.news

What is more, AVAX is still trading within the bearish flag pattern, near the lower boundary of its rising channel. Its price is currently below all key simple and exponential moving averages, showing that momentum is not in its favor.

What’s next for AVAX?

Despite the bearish technicals, Avalache has seen some positive ecosystem news in the past few weeks, which signals a positive long-term outlook. For one, the network has hit a number of milestones when it comes to usage.

The network hit an all-time high in gas usage, at 2.6 trillion, an ATH in daily transactions at 18.1 million, and a record number of transactions per second. This aligns with a broader trend of a steady increase in adoption. It also proves the network’s scalability and ability to process large volumes.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Decrypt logo
GameFi Guides

Dogecoin Leads Meme Coin Dive as Geopolitical Tensions Slam Crypto Market

by admin



In brief

  • Dogecoin is leading meme coins lower as tensions between Iran and Israel flare.
  • The leading dog-themed token is down nearly 6% in the last 24 hours.
  • Other popular memes, like Fartcoin and SPX6900 were not spared, falling even more than DOGE in the same timeframe.

The top meme coin by market cap, Dogecoin, is diving lower amid a broader market sell-off, dropping nearly 6% in the last 24 hours as tensions between Israel and Iran flare following Israel’s airstrikes late Thursday.

The dog-themed meme coin leader is now trading below $0.178, down 23% over the last month and more than 75% from its all-time high of $0.73 in 2021. 

The meme category as a whole is underperforming major assets, dropping 9.5% in the last 24 hours compared to 2.6% and 8% for Bitcoin and Ethereum, respectively, according to data from CoinGecko.

Those meme coin losses are highlighted by most of the majors, like Ethereum-based Pepe, which has dropped 10.8% during the same time frame. Solana’s top meme coin performers, like Fartcoin (FARTCOIN), Bonk (BONK), and Dogwifhat (WIF) have each dropped more than 9%. 

The Fartcoin drop has led to a notable odds shift for Myriad Market’s Fartcoin flash market, which asks predictors whether or not the flatulence-themed meme coin will trade above a $1.3 billion market cap come Saturday evening. 



Now, odds of that taking place trade around 14% compared to around 51% on Thursday afternoon, signaling predictors may not be that confident in a quick turnaround for the meme coin market. 

Even SPX6900, an Ethereum-based token that its creators say is designed to try and flip the S&P 500 by market cap, is down more than 13% in the last 24 hours after climbing to a new all-time high just two days ago. (It’s still nowhere near the S&P 500’s market cap, to be clear.)

Plus, other notable memes like Peanut the Squirrel (PNUT), Popcat (POPCAT), and Mog Coin (MOG) have dropped at least 10% apiece.

The market’s sell-off hasn’t been isolated to meme coins and majors, as altcoins have faced a similar fate over the last 24 hours, helping rack up more than $1.13 billion in crypto liquidations during that timeframe, per CoinGlass data.

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.



Source link

0 comments
0 FacebookTwitterPinterestEmail
CoinDesk Bot
NFT Gaming

BCH Surges After $391 Rebound Amid Geopolitical Tensions

by admin



The cryptocurrency market is navigating choppy waters amid escalating geopolitical tensions, with Bitcoin Cash (BCH) showing resilience despite broader market pressure.

BCH recently demonstrated strong technical performance, forming a V-shaped recovery after testing critical support at $391.656, with substantial buying volume establishing a high-volume support level.

This comes as the global cryptocurrency market faces headwinds from the ongoing US-China trade disputes, which continue to introduce uncertainty across financial markets worldwide.

Meanwhile, traditional financial indicators like rising US Treasury yields signal systemic stress that historically creates mixed environments for risk assets like cryptocurrencies.

Technical Analysis Highlights

  • BCH tested critical support at $391.656, triggering substantial buying volume particularly during the 01:00-04:00 timeframe.
  • A powerful breakout occurred during the 13:00 hour, with BCH surging to $416.958 on the highest hourly volume (28,068 units).
  • Price established a new resistance-turned-support level at $409.800, with momentum indicators suggesting potential for continued upside.
  • A bull flag pattern formed after the initial impulse move, with decreasing volume during consolidation suggesting potential continuation.
  • The $413.000-$413.500 zone represents a key support level that bulls need to defend to maintain upward momentum.

External References



Source link

0 comments
0 FacebookTwitterPinterestEmail
Close