OVERVIEW

There Are Swings, And Then There's Whatever The Heck This Week Was 

Wow - this has been one hell of a week. A wild flash into the red, followed by a steady and strong recovery into the green. And while not every crypto is green for the week, the overall market is in positive territory.🟩 

And the range that the crypto market traded was absolutely wild. Zcash, for example, tanked -38.48% on Monday to $18.91. From there it’s moved to sixteen-month highs at $40.15. That’s a 113% gain from the weekly lows and up +30% for the week (so far). 😱 

Ethereum's value dropped to $2,100 on Monday, a 21.29% drop. Fast-forward to today, and it’s still down 3.62% ($2,590) but well off its lows.

And now we’re going into the weekend - a time when shenanigans occur with regularity in crypto. Let’s hope we all come back on Monday without any battle wounds. 📰

Before we dive in, here’s today’s crypto market heatmap:

And here’s a look at crypto’s total and altcoin market cap YTD:

Most bullish/bearish symbols on Stocktwits at the close: 📈 $BTG, $ELF, $POLS, $CRO, $APT, 📉 $PNG, $ALT, $LTC, $KAS, and $CEL.

*If you’re a business and want to access this data via our API, email us.

NEWS
Crypto News In Three Sentences 📰

🎮 Rug Pulling Made Easier and Free 

Pump.fun just made rug pulling free. It’s now free to launch meme coins, and they’ll pay creators $80 if their tokens hit the market. The update has sparked a mix of excitement and concern, with some worried it will flood the market with low-effort coins. Decrypt.

🔀 Cardano’s Chang Hard Fork is Finally Happening 

Cardano’s ($ADA) much-anticipated Chang hard fork is officially on the horizon, with over 70% of nodes signaling readiness. This upgrade will bring a new Cardano constitution and set the stage for more decentralized governance. Stage one of two begins soon. cryptopolitan.

📺 Samsung Partners with Illuvium to Bring NFTs to Your Living Room 

Samsung ($SSNLF) has teamed up with Illuvium ($ILV) to turn your TV into a digital art gallery by integrating NFTs from the popular Web3 game. The partnership is Samsung’s latest move into the Web3 world, promising an immersive experience that combines entertainment and blockchain. Expect to see this flashy tech at Gamescom, where attendees can snag exclusive digital goodies. The Defiant.

💰 Tether Prints $1.3B USDT, Could Propel Bitcoin to $65K 

Tether has been busy minting $1.3 billion worth of $USDT since the market bottomed, setting the stage for a potential Bitcoin rally to $70k. The stablecoin flood into exchanges signals that whales might be gearing up for a serious buy-the-dip moment. If Bitcoin breaks through and holds above the $65k resistance zone, it could be game on for another bull run. Cointelegraph.

💵 Laffer Says the U.S. Dollar is on a Fast Track to Monopoly Money 

Economist Dr. Arthur Laffer warns that the U.S. dollar is heading towards becoming “unhinged paper currency” thanks to sloppy economic policies. He points to de-dollarization and the rise of $BTC as global alternatives, fueled by the dollar's deteriorating trust. Laffer takes a jab at the Biden administration, suggesting that their policies are pushing the U.S. further into economic oblivion. CryptoGlobe.

🔒 Solana Patches Critical Vulnerability Just in Time 

$SOL’s developers managed to dodge a bullet by quickly patching a critical vulnerability that could have knocked the entire network offline. The fix was quietly coordinated among trusted parties before being made public, avoiding another headline-grabbing outage. Solana’s history of network hiccups continues, but at least it didn’t stop working again. CryptoBriefing.

🇺🇸 U.S. Flirts with Tax-Free Bitcoin Zone to Stay Digital Economy Leader 

The U.S. is toying with the idea of creating a tax-free zone for Bitcoin transactions to keep its digital economy edge while holding onto the dollar’s global dominance. The proposal would allow tax-free Bitcoin trades, but Uncle Sam still wants his cut when you cash out to fiat. If this goes through, it could set the stage for the U.S. to lead the pack in the crypto race. AltcoinBuzz.

🏦 Coinbase Slams CFTC’s 'Gaming' Label on Prediction Markets 

$COIN isn’t thrilled with the CFTC’s attempt to slap a “gaming” label on prediction markets, arguing it stifles a promising investment sector. The exchange believes this regulatory move could choke off innovation and potential economic benefits. Coinbase is asking for clarification of the definition of ‘gaming.’ Cryptonomist.

📈 Cboe’s Bitcoin ETF Options Are Back on the Table 

$CBOE just pulled a switcheroo, withdrawing and re-filing its application to list options on spot Bitcoin ETFs, hinting that the SEC might actually be paying attention this time. Bloomberg analysts are cautiously optimistic, predicting we might see Bitcoin ETF options by Q4 if all goes well. This could be a major win for the crypto market, finally opening the door to broader institutional investment. TheBlock.

⛏️ Celsius Bitcoin Mining IPO Hits a Snag Over Auditor Issues 

Ionic Digital, the Bitcoin mining spinoff from Celsius ($CEL), has hit a wall with its IPO plans after losing its auditor, throwing creditors who got shares in the new company into limbo. The delay means no IPO until they find a new bean counter, leaving everyone wondering when, or if, they’ll see any return. CoinDesk.

🔗 Kujira Teams Up with THORChain to Boost DeFi Liquidity 

Kujira is linking up with THORChain ($RUNE) to supercharge its DeFi capabilities, adding liquidity and integrating THORChain’s native assets into its ecosystem. The partnership includes a community-driven token raise to clear debt and solidify Kujira's standing in the DeFi space. With $3 million pledged to backstop the effort, it sounds like there’s a commitment from both sides. AltcoinBuzz.

📉 Celestia Futures Traders Bet on a Drop Despite Price Surge 

Celestia’s ($TIA) recent price surge hasn’t stopped futures traders from doubling down on short positions, betting the token’s rally won’t last. Negative funding rates across exchanges suggest traders are anticipating a drop, even as open interest spikes. The bearish sentiment could mean more volatility ahead for Celestia. BeInCrypto.

🐕 Shiba Inu Quietly Outperforms Ethereum Over the Past Year 

Shiba Inu ($SHIB) has outpaced Ethereum ($ETH) in the past 12 months, clocking a 44.17% gain compared to ETH’s 44.06%. With ongoing developments like Shibarium and a strong community, SHIB continues to surprise skeptics. If there are increases in the burn rate along with continued accumulation, SHIB’s performance could increase even more. U.Today.

💵 Bitcoin ETFs See Big Inflows, Sending Prices Back Over $60K 

Bitcoin spot ETFs just recorded their biggest inflows in two weeks, pulling in $192.5 million and pushing Bitcoin back above $60,000. The fresh capital comes after a rough week for the crypto market, suggesting investors are back in buying mode. The bounce-back could be a sign that the recent dip was just a blip, not a full-blown bear trend. Bitcoin Magazine.

💥 Peter Brandt Softens on Ethereum, Still Hates ETH Trolls 

Peter Brandt, the legendary trader known for his crypto hot takes, just admitted he doesn’t hate Ethereum as much as it seems—he just can’t resist trolling the ETH fanboys. Brandt is also growing increasingly disillusioned with X (formerly Twitter) and is exploring other platforms to share his trading insights. Love him or hate him, Brandt’s opinions continue to stir the pot. U.Today.

💰 Justin Sun’s Wallet Moves 16,236 ETH, Sparking Speculation 

Justin Sun’s wallet just moved 16,236 ETH to HTX and then sent 4,500 ETH to Binance, raising eyebrows across the crypto world. The move, which turned a tidy 17.3% profit in just four days, has everyone guessing what Sun’s next play might be. The rapid gains underscore the wild swings and big returns that make crypto so captivating—and risky. coincu.

🚀 Pacmoon Jumps Ship to Solana, Reigniting Blockchain Rivalry 

Pacmoon, the top meme coin on Blast, is ditching the platform for Solana, fueling the ongoing debate over which blockchain reigns supreme. The move is a major shakeup, as Pacmoon’s team promises equivalent compensation for burned tokens and prepares to launch a new meme on Solana. BeInCrypto.

STOCKTWITS “TRENDS WITH FRIENDS”
Breaking Down Bitcoin & Solana’s Cycles ₿

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⌛️ Cosmoverse heads to Dubai, showcasing interchain and Web3 innovation

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🧱 Avail, long-awaited 'data availability' blockchain project, launches main network

🦗 Celestia unveils ‘Lemongrass’: First major upgrade promises big changes to the modular ecosystem

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