Author: Yeek.io

contributor Posted: December 12, 2024 $1.2 billion liquidated as market downturn amplified memecoin sell-offs. DOGE showed resilience; BONK, SHIB lagged with weaker buy-side momentum. The market is in turmoil, with a sharp sell-off sending shockwaves across all sectors. Nowhere is the impact more pronounced than in the memecoin market, where speculative assets like Bonk [BONK], Floki [FLOKI], dogwifhat [WIF], Shiba Inu [SHIB], and Dogecoin [DOGE] have endured staggering double-digit losses. Leveraged traders are facing mounting liquidations, and the fragility of this high-risk niche is being exposed as prices hit new lows amid the broader market correction. Memecoin fragility amid broader…

Crypto’s recently has been electrified by Solana’s resurgence. With lightning-fast, nearly-free transactions powered by an innovative developer community — the future of finance is finally here on Solana. The so-called “Ethereum killer” has gained dominance by multiple key metrics. It’s time for some SOL searching… SOL surpasses ETH by active users Both Solana and Ethereum unlock vibrant ecosystems for DeFi, NFTs, gaming, and more. However, Solana enables much faster and cheaper transactions at scale. As a result, active users on Solana have recently surpassed Ethereum. Source: Artemis.xyz Onchain transactions at scale Solana processes onchain activity at a great magnitude. While…

Top US crypto exchange Coinbase has added support for three additional digital assets, including memecoin Gigachad (GIGA). Solana (SOL)-based GIGA, a crypto asset inspired by the photo shoot of Russian bodybuilder Ernest Khalimov, is up more than 39% from its $0.04911 low on Tuesday, the day it was listed on Coinbase. GIGA is trading for $0.06844 at time of writing. With a market cap of $657.9 million, Gigachad is the 183rd largest crypto project. Coinbase also added support for Magic Eden (ME) on the Solana network, a utility token for the Magic Eden non-fungible token (NFT) marketplace. Users can list…

Paris-based asset manager and private banking services Oddo will collaborate with Fireblocks to enter the stablecoin market. Oddo BHF SCA brought an initiative to increase the use case of euro-dominated stablecoin by working with a crypto technology firm. This project is projected to launch by next year. Under the newly adopted European Union regulations, stablecoin is the most anticipated digital asset due to low volatility and popular choices among crypto traders. This project comes after Societe Generale SA’s crypto asset unit in France, which already uses the euro-dominated stablecoin named EUR convertible and supervises under the new rules. Fireblocks, known…

This shift comes as Solana’s price struggles near multi-week lows. The network’s active addresses, a measure of user engagement, have also hit their lowest levels since December. Reduced participation signals weakening demand and could lead to further volatility.Market analysts point out that low activity levels can limit liquidity, making Solana’s price more vulnerable to sharp movements. Investors are now closely watching SOL’s ability to maintain critical support levels.Currently, Solana is trading around $219. A move above the $221 resistance level could boost market sentiment and push the price toward $245. The next support level is close to $201, thus if…

Bybit and analytics firm Block Scholes released a derivatives market report indicating mixed signals for Ethereum and Bitcoin.  The report highlights a decline in Ethereum’s (ETH) perpetual open interest, primarily due to the liquidation of overleveraged long positions. These positions had accumulated during a period of optimism but were reset by falling ETH spot prices, according to the report shared with crypto.news.   The report also notes that ETH futures contracts have not experienced the same decline in open interest as ETH perpetual swap contracts during a brief pause in upward price momentum. However, positioning has increased for both (BTC)…

Grand Cayman, Cayman Islands, December 12th, 2024, Chainwire Demos fully private and decentralized AI chat app with performance on par with ChatGPT and Perplexity AI Sui, the Layer 1 blockchain that delivers unparalleled scalability and speed, and Atoma Network, a next generation decentralized AI engine, today announced that Atoma’s fully decentralized AI layer, first announced earlier this year, is live on Sui’s Mainnet. The team also offered reporters a first glimpse into the potential of decentralized AI with a decentralized AI Chat app (code named “Utopia”) built on Sui that enables users to have full ownership of their private data…

AgriDex, a Solana-based tokenization platform for agriculture markets, has raised $4 million in a funding round that attracted several venture capital firms and angel investors. The Solana (SOL) real-world assets marketplace announced that venture capital platform Portal Ventures led the strategic round. AgriDex also received investment from Endeavour Ventures, HU Investments, FS Ventures, Hawkwood Capital, and Sycamore Gap Management. The London-based crypto startup saw participation from several angel investors, including Palantir’s Tobechi Bolanle Taiwo and Perena’s Anna Yuan, among others. In total, AgriDex has raised over $9 million from investors, following a $5 million pre-seed round earlier in the year.…

Uniswap’s price has rallied, crossing a crucial resistance level, with many crypto experts predicting further gains ahead. Uniswap (UNI) token surged to $19.44, its highest level since December 2021, as crypto momentum continued to strengthen. This rally coincides with robust inflows across decentralized exchange (DEX) networks. Data indicates that DEX platforms handled over $372 billion worth of tokens in November, marking the largest monthly increase on record. Uniswap alone processed $30.86 billion in volume over the last seven days, solidifying its position as the industry leader. Its volume significantly exceeded that of competitors like Raydium and PancakeSwap combined. Over its…

While meme coins sparked a frenzy among retail traders, stablecoins seem to emerge as crypto’s most promising innovation so far. The meme coin craze keeps going strong, even though regulators are being cautious because of their wild price swings. While these tokens can offer huge returns, the real game-changer might be something that seems less exciting and even a bit boring — stablecoins. In fact, stablecoins seem to gain support even from the camp, which was initially afraid of crypto at all, which was big banks. Citi Wealth strategists emphasized in a recent research report that stablecoins “could end up…