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  • Crypto update: Bitcoin and Ethereum are stable as market’s focus shifts to US inflation data

    Crypto update: Bitcoin and Ethereum are stable as market’s focus shifts to US inflation data

    Crypto update: Bitcoin and Ethereum are stable as market's focus shifts to US inflation data

    • Crypto markets have entered a holding pattern, with Bitcoin near $108,164.
    • Traders are awaiting a key US inflation (CPI) report due out on Friday.
    • Hopes are rising for a de-escalation in the US-China trade war.

    Cryptocurrency markets have entered a midweek holding pattern, with prices for Bitcoin and other major digital assets remaining relatively flat as traders brace for a pivotal US inflation report and look for signs of a de-escalation in the US-China trade dispute.

    Bitcoin is trading around $108,164, up slightly from Monday but still down 2% for the week. Ether is changing hands near $3,815.

    The stabilization reflects what the analytics firm QCP Capital has described as a “narrow-range equilibrium,” a period of calm before a potential storm.

    A singular focus on the US inflation report

    The market’s primary focus is now firmly on Friday’s Consumer Price Index (CPI) report, the only major US economic data release not delayed by the ongoing government shutdown.

    In a recent note, QCP said the CPI is the “singular anchor” for policy expectations and broader risk sentiment.

    A softer-than-expected reading, the firm noted, could “re-anchor the soft-landing trade” and provide support for Bitcoin as expectations for looser monetary policy improve.

    Hopes are rising for a US-China détente

    Adding to the market’s complex picture are the shifting dynamics of the US-China trade war.

    Sentiment has improved after a weekend of whiplash, in which President Trump first threatened a massive new wave of tariffs only to later soften his stance, stating that “the USA wants to help China, not hurt it.” 

    This has led prediction markets to re-evaluate the risks. Traders on Polymarket now assign a 77% probability that a tariff agreement will be reached by November 10, while the odds of Trump’s threatened 100% tariffs taking effect have fallen to just 16 percent.

    A cleaner slate after a brutal liquidation flush

    This fragile calm comes just days after a brutal market-wide sell-off that saw nearly $20 billion in leveraged positions liquidated.

    That massive flush has reset the market, creating a cleaner slate for macro traders as they head into the crucial CPI event.

    The key question now is whether the “soft landing” narrative will be confirmed by Friday’s inflation data, or if the volatility that has defined the market in recent weeks will be reignited.

    What to watch in the markets

    For Bitcoin, analysts at Standard Chartered have noted that while sellers are limiting any immediate breakout potential, a dip below $100,000 could represent a “last chance to buy” before the next major leg higher.

    For Ethereum, the picture is more divided.

    A recent $650 million transfer by the Ethereum Foundation triggered a wave of profit-taking and liquidations, leaving analysts split between a potential breakout toward $5,000 and a possible slide toward $2,850 if the key support level at $3,470 fails to hold.

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  • Bitcoin rebounds to $115K after weekend selloff; Institutional ETF flows in focus

    Bitcoin rebounds to $115K after weekend selloff; Institutional ETF flows in focus

    Bitcoin rebounds to $115K after weekend selloff; Institutional ETF flows in focus

    • Bitcoin (BTC) has rebounded to trade above $115,000 after a selloff that saw over $1B in liquidations.
    • The recent correction was driven by weak US jobs data and a new wave of US tariffs.
    • QCP Capital views the selloff as a “leverage flush,” noting that the broader structural setup for BTC remains intact.

    Bitcoin (BTC) is staging a modest rebound as the East Asian trading day gets underway, changing hands at just over the $115,000 mark.

    This recovery comes after a punishing selloff last week that saw over $1 billion in leveraged long positions liquidated and the leading cryptocurrency briefly test the $113,000 level.



    While the bounce is a welcome sign for bulls, the market remains on edge, with investors carefully weighing signs of institutional stabilization against persistent macroeconomic fears.

    The aftermath of a ‘leverage flush’: a cautious optimism

    The latest market correction, which marked Bitcoin’s third consecutive Friday selloff, was fueled by a hawkish macroeconomic cocktail.

    Weaker-than-expected US jobs data, combined with a fresh wave of tariffs announced by Washington, triggered a broader “risk-off” mood that hit both equities and crypto.

    Altcoins bore the brunt of this downward move, with Solana (SOL) falling nearly 20% on the week and Ethereum (ETH) losing close to 10%.

    Despite this sharp drop, some market observers, like trading firm QCP Capital, remain cautiously optimistic. “The broader structural setup remains intact,” the firm wrote in a Monday note, pointing to the fact that Bitcoin had achieved its highest-ever monthly close in July.

    QCP views the recent selloff not as a fundamental trend reversal, but rather as a necessary “leverage flush”—a painful but healthy shakeout of over-leveraged positions that has historically cleared the path for renewed accumulation and the next leg higher.

    Hedging and headwinds: investors still price in downside risk

    That said, market hedging behavior suggests that investors are not yet ruling out the possibility of deeper downside.

    On the prediction market Polymarket, traders are currently assigning a 49% probability that Bitcoin will dip below the $100,000 mark before the end of 2025.

    This represents a 2 percentage point increase from the day prior, indicating that near-term anxiety is still very much present.

    This pricing reflects a market that is still on a knife’s edge.

    Downside tail risk is clearly being priced in, despite a host of supportive long-term fundamentals, which include increasing regulatory clarity, growing stablecoin adoption, and a wave of real-world asset tokenization initiatives.

    The next major catalyst for the market could come during the Asia trading day, as US issuers report their latest ETF flow data, which typically happens by mid-day Hong Kong time.

    The market’s stabilization appears to be supported by some early positive signs on this front, with Bitwise reporting $18.74 million in net inflows, a potential reversal after one of the largest ETF outflow days on record last Friday.

    If these ETF inflows continue to show strength and implied volatility begins to compress, it may provide the confirmation that the market needs to fully embrace the “buy-the-dip” narrative and shake off the macro jitters that have kept it stuck in neutral.

    Broader market snapshot

    • BTC: Bitcoin is trading back above $115,000, signaling early signs of market stabilization after a volatile week.

    • ETH: Ether is holding steady around $3,700, with Polymarket traders showing confidence that it will break above the $4,000 mark sometime in August.

    • Gold: Gold extended its rally for a third consecutive session on Monday, rising to a two-week high. The move was driven by soft US economic data, which has boosted expectations of a September Federal Reserve rate cut. CME traders are now pricing in an 86% chance of that happening.

    • Nikkei 225: Asia-Pacific markets opened higher after US President Donald Trump unveiled plans to sharply increase tariffs on Indian exports. Japan’s Nikkei 225 rose 0.54% at the open.

    • S&P 500: US stocks rebounded sharply on Monday, with the S&P 500 rising 1.47% to 6,329.94. The move snapped a four-day losing streak and marked the index’s best single session since May.

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  • BTC recovers to $107K after weekly volatility; focus shifts to US economic data

    BTC recovers to $107K after weekly volatility; focus shifts to US economic data

    BTC recovers to $107K after weekly volatility; focus shifts to US economic data

    • Bitcoin (BTC) is trading above $107K Thursday, up 0.7%, after a sharp rebound from below $100K earlier in the week.
    • Markets pivoted from “flight-to-safety” on Mideast tensions to a “risk-on in full force” rally.
    • US GDP and unemployment data this week, plus quarterly options/futures expiry, could bring more volatility.

    Bitcoin (BTC) is trading firmly above the $107,000 mark as the Asian trading day gets underway on Thursday, with the broader digital asset market also showing strength.

    This impressive performance comes at the end of a tumultuous week that saw markets swing dramatically from fear over Middle East conflict to a powerful risk-on rally, lifting crypto, tech stocks, and broader market sentiment in tandem.

    Looking back at the week’s events, what began as a sell-off driven by escalating tensions – with Israel and Iran trading rocket fire and a US bombing campaign on Iran’s nuclear facilities – has transformed into a textbook risk-on rally.

    The initial anxiety has given way to a surge in investor confidence, seemingly brushing off the geopolitical dangers that loomed just days ago.

    “War drums fade, risk appetite roars,” wrote the trading firm QCP Capital in its June 25 market note, perfectly capturing the sudden and dramatic shift in mood.

    Traders appeared to have priced in a resolution or simply stopped waiting for one. Instead of flight-to-safety, the move was risk-on in full force.

    This pivot was visible across multiple asset classes.

    US equities surged, oil prices retraced back to their pre-conflict levels, and shares of crypto exchange Coinbase jumped 12% on positive regulatory news.

    For Bitcoin, the strong rebound above $107,000 signals not just relief from the recent tension but a renewed sense of upward momentum, even as savvy investors keep one eye on the macroeconomic calendar and the other on potential global flashpoints.

    Navigating the swings: key data and volatility ahead

    The recent price action has been nothing short of volatile. “It’s been a week of sharp swings in crypto,” commented Gracie Lin, CEO of OKX Singapore.

    Bitcoin dipped below $100,000 earlier in the week when Middle East tensions rattled the markets, but rebounded quickly after news of a ceasefire – now trading just below its all-time high in a sharp reversal.

    Lin points to a series of upcoming US economic data releases, including GDP figures and unemployment claims due later this week, as the next potential catalysts for Bitcoin’s price movement.

    “Recent PMI numbers have held steady, but continued weakness in housing is raising questions about the broader economy,” she said.

    If Thursday’s GDP or unemployment claims come in weaker than expected, bitcoin could benefit as investors look for hedges against traditional market weakness.

    Adding another layer of potential turbulence, the quarterly expiration of Bitcoin futures and options is scheduled for June 27.

    These events often bring increased price swings as traders close out or roll over their positions. “Another bout of volatility is expected,” Lin warned.

    The bigger picture

    While short-term volatility is expected, QCP Capital, in its analysis, is looking beyond the week’s sharp swings to spotlight the structural forces that are driving Bitcoin’s evolution into a recognized macro asset.

    They point to significant institutional momentum, highlighted by events like ProCap’s $386 million BTC purchase and Coinbase’s recent regulatory win under the EU’s MiCA framework.

    “If this accumulation trend persists,” QCP wrote, “bitcoin may not just rival gold as a macro hedge but potentially in total market capitalisation.”

    This suggests a long-term bullish outlook underpinned by growing institutional adoption.

    Still, QCP adds a crucial note of caution: “Geopolitics remains an ever-present undercurrent.”

    While markets have largely shrugged off the recent Israeli strikes, new concerns are mounting over NATO–Russia tensions.

    With Western nations increasing their defense budgets and President Trump set to attend the upcoming NATO summit, the next geopolitical shock may not originate from the Middle East.

    For now, Bitcoin is riding the powerful wave of risk-on enthusiasm.

    But just beneath the surface, the fundamental battle between short-term volatility and long-term conviction, between the fading sound of war drums and the steady rhythm of institutional buying sprees, continues to define this dynamic market.
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  • Bitcoin steadies at $68k, meme coins surge as focus shifts to Poodlana

    Bitcoin steadies at $68k, meme coins surge as focus shifts to Poodlana

    Bitcoin price has recorded its second week of consecutive gains; ending the week steady above the resistance-turn-support zone of 68,000. On Friday, it hit a level last recorded in late July after rallying by 17% in about a week. At the time of writing, BTC was trading at $68,440.47. 

    Risk-on sentiment continues

    The risk-on mood that has increased the attractiveness of bitcoin and other cryptocurrencies in recent sessions is also observable in the US stock market. In fact, the Dow Jones Industrial Average index and S&P 500 both ended the week at a fresh record high. At the same time, Nasdaq 100 held steady above $20,000 as the bulls eyed the all0time high reached in mid-July 2024 at $20,702. 

    Signs of a resilient US economy have contributed to the rallying in the cryptocurrency market and the overall risk-on mood. Recent data, including September’s jobs report and retail sales came in better than expected. The resultant surge in consumer confidence has seen the US dollar record three consecutive weeks of gains. On Thursday, it extended gains to a level last hit in early August before slightly pulling back on Friday. 

    Additionally, rate cuts by the Federal Reserve have contributed to the positive market sentiment. As seen on CoinMarketCap, the fear and greed index is at a greed level of 60 after being at a neutral of 46 in the past week. During its September meeting, the US central bank cut interest rates by 50 basis points; the first in four years. Notably, an environment of lower interest rates tends to attract investors to riskier assets like cryptocurrencies. 

    US election and Bitcoin ETF inflows

    Markets are now keen on the next Fed meeting on 7th November, just two days after the closely watched US elections. In addition to the anticipated rate cut of 25 basis points, a Trump win will likely yield further gains for cryptos. 

    The presidential candidate not only owns a crypto venture but he has also openly held a pro-crypto stand. According to Polymarket, Trump’s chances of winning the elections are at 59.9% against Kamala Harris’ 40.1%. This forecast already has more traders investing in the crypto market with elections in the horizon. 

    To top it off, Bitcoin ETF inflows are on the rise. According to SoSoValue, the daily total net inflow was $273.71 million as at 18th October. Cumulatively, the net inflows year-to-date are $20.94 billion. 

    Poodlana token could stage a comeback

    As is often the case, meme coins are moving in tandem with Bitcoin’s price movement; creating irresistible opportunities for savvy investors. As seen on CoinGecko, the meme market cap is at $63 billion, up by 0.3% over a span of 24 hours. Over the past 7 days, meme coins like Dogecoin, Floki, Bonk, Cats in a dogs world, and BOOK OF MEME have risen by 28.1%, 12.3%, 8.0%, 25.5%, and 19.7% respectively. 

    Poodlana, a newly launched cryptocurrency built on the Solana network, stands out for meme coin enthusiasts as well as fashion-centric investors. Its appeal is largely founded on the Solana blockchain’s principle of cost efficiency as well as its link to the luxury fashion industry. More to that, its recent decline has created an ideal buy for investors scouting for cheaper options.

    The altcoin has dropped to a record low of $0.003167 as at the time of writing. Notably, a decline in price following a successful ICO is common as the early adopters sell their holdings for an easy and fast profit. With POODL, this was especially expected as the lack of a vesting period meant investors could sell their tokens immediately the meme coin hit public shelves. 

    As Bitcoin ETF inflows surge, an increase in BTC demand by both retail and institutional investors is set to trickle to altcoins like Poodlana. 

    Besides, geopolitical tensions in the Middle East and caution over the economic stability in the US and China, and globally, will further attract investors to Bitcoin as a safe haven. Additional rallying of the top crypto by means of its market cap is expected to yield a rebound in alternative cryptocurrencies like Poodlana.  You can lean more about Poodlana here.

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  • Memeinator in focus as most meme coins beat Bitcoin in 2024

    Memeinator in focus as most meme coins beat Bitcoin in 2024

    • Bitcoin and Ethereum have jumped by over 50% this year.

    • Meme coins like Floki, Pepe, and Book of Meme have done much better.

    • Memeinator is one of the fastest-growing names in the industry.

    Many meme coins are doing better than big cryptocurrencies like Bitcoin, Ethereum, and Ripple in 2024. Bitcoin and Ethereum have jumped by more than 50% this year while Ripple has dropped by over 20%. 

    Meme coins are thriving

    On the other hand, meme tokens like Floki, Book of Meme, and Pepe have done much better. Floki has soared by over 450% this year while Pepe has jumped by over 700% in the same period. 

    The same is happening among other meme coins like dogwifhat, Bonk, and Book of Meme, which have all doubled this year. As a result, all meme coins tracked by CoinGecko and CoinMarketCap have gained a market cap of over $60 billion, making them bigger than well-known companies like Lazard, General Motors, Ford, and Stellantis. 

    This trend could continue as more traders seek refuge in meme coins and celeb-themed tokens. For example, earlier this week, Rapper Iggy Azalea’s MOTHER token gained a market cap of over $300 million. It was then passed by DADDY, the new token being promoted by Andrew Tate, the popular provocateur.

    Meme coins do better than big coins like Bitcoin for two main reasons. First, they tend to be driven by hype and momentum. Second, unlike Bitcoin, these tokens are easy to manipulate since most of them are usually held by insiders.

    Third, meme coins trade for lower notional value than Bitcoin. While Bitcoin was trading at $67,000 on Saturday, Memeinator was going for $0.01820 while tokens like Pepe and Minu were going for much lower.

    As a result, traders argue that buying cheaper meme coins will always generate a better return than investing in bigger coins. For example, while it is easy for Pepe to double, it takes longer for Bitcoin to do the same.

    Memeinator to be in focus

    Meanwhile, many crypto traders are now focusing on Memeinator, one of the fastest-growing meme coins.

    The token, which concluded its token sale recently, has already achieved listings by some of the leading exchanges in the industry like Uniswap and MEXC. The developers are hoping to get listings by other exchanges in the coming months.

    Memeinator is a cryptocurrency that seeks to take advantage of several key themes in the industry. It is aiming to join the meme coin craze that is spreading in the crypto sector. 

    In addition to that, the developers hope that it will benefit from the artificial intelligence theme that has become the biggest one globally. Apple launched its Apple Intelligence suite of products while Mistral AI raised over $600 million from investors. 

    Further, Memeinator aims to be a leading player in the gaming industry. They are now building the Meme Warfare game that will reward users for winning. You can learn more about Memeinator here.

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  • Memeinator in focus as most meme coins beat Bitcoin in 2024

    Memeinator in focus as most meme coins beat Bitcoin in 2024

    • Bitcoin and Ethereum have jumped by over 50% this year.

    • Meme coins like Floki, Pepe, and Book of Meme have done much better.

    • Memeinator is one of the fastest-growing names in the industry.

    Many meme coins are doing better than big cryptocurrencies like Bitcoin, Ethereum, and Ripple in 2024. Bitcoin and Ethereum have jumped by more than 50% this year while Ripple has dropped by over 20%. 

    Meme coins are thriving

    On the other hand, meme tokens like Floki, Book of Meme, and Pepe have done much better. Floki has soared by over 450% this year while Pepe has jumped by over 700% in the same period. 

    The same is happening among other meme coins like dogwifhat, Bonk, and Book of Meme, which have all doubled this year. As a result, all meme coins tracked by CoinGecko and CoinMarketCap have gained a market cap of over $60 billion, making them bigger than well-known companies like Lazard, General Motors, Ford, and Stellantis. 

    This trend could continue as more traders seek refuge in meme coins and celeb-themed tokens. For example, earlier this week, Rapper Iggy Azalea’s MOTHER token gained a market cap of over $300 million. It was then passed by DADDY, the new token being promoted by Andrew Tate, the popular provocateur.

    Meme coins do better than big coins like Bitcoin for two main reasons. First, they tend to be driven by hype and momentum. Second, unlike Bitcoin, these tokens are easy to manipulate since most of them are usually held by insiders.

    Third, meme coins trade for lower notional value than Bitcoin. While Bitcoin was trading at $67,000 on Saturday, Memeinator was going for $0.01820 while tokens like Pepe and Minu were going for much lower.

    As a result, traders argue that buying cheaper meme coins will always generate a better return than investing in bigger coins. For example, while it is easy for Pepe to double, it takes longer for Bitcoin to do the same.

    Memeinator to be in focus

    Meanwhile, many crypto traders are now focusing on Memeinator, one of the fastest-growing meme coins.

    The token, which concluded its token sale recently, has already achieved listings by some of the leading exchanges in the industry like Uniswap and MEXC. The developers are hoping to get listings by other exchanges in the coming months.

    Memeinator is a cryptocurrency that seeks to take advantage of several key themes in the industry. It is aiming to join the meme coin craze that is spreading in the crypto sector. 

    In addition to that, the developers hope that it will benefit from the artificial intelligence theme that has become the biggest one globally. Apple launched its Apple Intelligence suite of products while Mistral AI raised over $600 million from investors. 

    Further, Memeinator aims to be a leading player in the gaming industry. They are now building the Meme Warfare game that will reward users for winning. You can learn more about Memeinator here.

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  • Memeinator in focus as most meme coins beat Bitcoin in 2024

    Memeinator in focus as most meme coins beat Bitcoin in 2024

    • Bitcoin and Ethereum have jumped by over 50% this year.

    • Meme coins like Floki, Pepe, and Book of Meme have done much better.

    • Memeinator is one of the fastest-growing names in the industry.

    Many meme coins are doing better than big cryptocurrencies like Bitcoin, Ethereum, and Ripple in 2024. Bitcoin and Ethereum have jumped by more than 50% this year while Ripple has dropped by over 20%. 

    Meme coins are thriving

    On the other hand, meme tokens like Floki, Book of Meme, and Pepe have done much better. Floki has soared by over 450% this year while Pepe has jumped by over 700% in the same period. 

    The same is happening among other meme coins like dogwifhat, Bonk, and Book of Meme, which have all doubled this year. As a result, all meme coins tracked by CoinGecko and CoinMarketCap have gained a market cap of over $60 billion, making them bigger than well-known companies like Lazard, General Motors, Ford, and Stellantis. 

    This trend could continue as more traders seek refuge in meme coins and celeb-themed tokens. For example, earlier this week, Rapper Iggy Azalea’s MOTHER token gained a market cap of over $300 million. It was then passed by DADDY, the new token being promoted by Andrew Tate, the popular provocateur.

    Meme coins do better than big coins like Bitcoin for two main reasons. First, they tend to be driven by hype and momentum. Second, unlike Bitcoin, these tokens are easy to manipulate since most of them are usually held by insiders.

    Third, meme coins trade for lower notional value than Bitcoin. While Bitcoin was trading at $67,000 on Saturday, Memeinator was going for $0.01820 while tokens like Pepe and Minu were going for much lower.

    As a result, traders argue that buying cheaper meme coins will always generate a better return than investing in bigger coins. For example, while it is easy for Pepe to double, it takes longer for Bitcoin to do the same.

    Memeinator to be in focus

    Meanwhile, many crypto traders are now focusing on Memeinator, one of the fastest-growing meme coins.

    The token, which concluded its token sale recently, has already achieved listings by some of the leading exchanges in the industry like Uniswap and MEXC. The developers are hoping to get listings by other exchanges in the coming months.

    Memeinator is a cryptocurrency that seeks to take advantage of several key themes in the industry. It is aiming to join the meme coin craze that is spreading in the crypto sector. 

    In addition to that, the developers hope that it will benefit from the artificial intelligence theme that has become the biggest one globally. Apple launched its Apple Intelligence suite of products while Mistral AI raised over $600 million from investors. 

    Further, Memeinator aims to be a leading player in the gaming industry. They are now building the Meme Warfare game that will reward users for winning. You can learn more about Memeinator here.

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  • Memeinator in focus as most meme coins beat Bitcoin in 2024

    Memeinator in focus as most meme coins beat Bitcoin in 2024

    • Bitcoin and Ethereum have jumped by over 50% this year.

    • Meme coins like Floki, Pepe, and Book of Meme have done much better.

    • Memeinator is one of the fastest-growing names in the industry.

    Many meme coins are doing better than big cryptocurrencies like Bitcoin, Ethereum, and Ripple in 2024. Bitcoin and Ethereum have jumped by more than 50% this year while Ripple has dropped by over 20%. 

    Meme coins are thriving

    On the other hand, meme tokens like Floki, Book of Meme, and Pepe have done much better. Floki has soared by over 450% this year while Pepe has jumped by over 700% in the same period. 

    The same is happening among other meme coins like dogwifhat, Bonk, and Book of Meme, which have all doubled this year. As a result, all meme coins tracked by CoinGecko and CoinMarketCap have gained a market cap of over $60 billion, making them bigger than well-known companies like Lazard, General Motors, Ford, and Stellantis. 

    This trend could continue as more traders seek refuge in meme coins and celeb-themed tokens. For example, earlier this week, Rapper Iggy Azalea’s MOTHER token gained a market cap of over $300 million. It was then passed by DADDY, the new token being promoted by Andrew Tate, the popular provocateur.

    Meme coins do better than big coins like Bitcoin for two main reasons. First, they tend to be driven by hype and momentum. Second, unlike Bitcoin, these tokens are easy to manipulate since most of them are usually held by insiders.

    Third, meme coins trade for lower notional value than Bitcoin. While Bitcoin was trading at $67,000 on Saturday, Memeinator was going for $0.01820 while tokens like Pepe and Minu were going for much lower.

    As a result, traders argue that buying cheaper meme coins will always generate a better return than investing in bigger coins. For example, while it is easy for Pepe to double, it takes longer for Bitcoin to do the same.

    Memeinator to be in focus

    Meanwhile, many crypto traders are now focusing on Memeinator, one of the fastest-growing meme coins.

    The token, which concluded its token sale recently, has already achieved listings by some of the leading exchanges in the industry like Uniswap and MEXC. The developers are hoping to get listings by other exchanges in the coming months.

    Memeinator is a cryptocurrency that seeks to take advantage of several key themes in the industry. It is aiming to join the meme coin craze that is spreading in the crypto sector. 

    In addition to that, the developers hope that it will benefit from the artificial intelligence theme that has become the biggest one globally. Apple launched its Apple Intelligence suite of products while Mistral AI raised over $600 million from investors. 

    Further, Memeinator aims to be a leading player in the gaming industry. They are now building the Meme Warfare game that will reward users for winning. You can learn more about Memeinator here.

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  • Bitcoin remains the focus as outflows hit March highs

    Bitcoin remains the focus as outflows hit March highs

    • Digital assets investment products saw outflows of $168 million last week, $146 million of which was for Bitcoin.
    • It’s the largest weekly outflows total since March 2023, according to a report by CoinShares.

    CoinShares’ latest weekly report on digital asset investment flows shows that the market witnessed its largest funds outflows in nearly six months last week. The outflows come as sentiment across cryptocurrency dips amid recent sell-off.

    Crypto sees $168 million in outflows

    According to the report, outflows totaled $168 million over the week to mark the largest outflow from crypto products since March 2023 when the US Securities and Exchange Commission (SEC) started its regulatory crackdown on major exchanges.

    The outflows in the week ended August 25 saw the monthly outflows stand at $278 million as sentiment continued to trend negative amid “exceptionally low trading volume.” Indeed, CoinShares data shows the investment products market traded $1.3 billion last week, about 16% off the year’s average.

    “This negative sentiment we believe is due to the increasing acceptance that a spot-based ETF for Bitcoin in the US is likely to take longer than many expect, with recent delays being announced by the SEC,” said James Butterfill, head of research at CoinShares.

    Bitcoin continues to lead

    The crypto market recently witnessed a sharp sell-off for Bitcoin, the benchmark cryptocurrency falling to lows of $25,350. The struggle to strengthen above $26k has illustrated the market jitters permeating the broader risk assets sector, with this shown in outflows from Bitcoin investment products.

    Bitcoin price chart

    However, while outflows totaled $149 million last week, the flagship crypto asset’s flows are net positive for the year at roughly $265 million. Meanwhile, investors are increasingly selling their short positions, with $4 million in outflows registered last week for an 18-week streak of outflows. 

    Data shows shorts outflows are currently 89% of the total AuM.

    In the altcoin market, Ethereum recorded outflows of $17 million, while XRP and Litecoin had minor inflows of $0.5 million and $0.44 million, respectively.

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