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Analysts named the timing of the last crypto-market collapsing in the current cycle

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did the crypto market crash today

We are probably waiting for another crypto-market collapse soon. That’s the conclusion reached by analysts at Nansen Research after examining the correlation between the S&P500 index and cryptocurrencies.

Did the crypto market crash today?

As experts expect, the recession in the U.S. will affect not only stocks, but also cryptocurrencies. Given that the U.S. Federal Reserve will continue its tight monetary policy in 2023, the risk premium for investing in equities will rise even higher. This, in turn, will lead to an increase in the risk premium for investing in cryptocurrencies, Nansen believes. How much will the current Bitcoin price fall?

Against the backdrop of deteriorating macroeconomic conditions, analysts assume the cryptocurrency market will fall even lower as early as next year, and for the last time within the current cycle (until 2024). However, it is not clear how soon the fall may occur and how long the market will be at the bottom.

In August, U.S. billionaire Ilon Musk admitted that the recession could trigger a lot of bankruptcies, and that the period itself could last until the end of 2023. Although Musk admitted that “making macroeconomic predictions is a lost cause,” he did suggest that the coming crisis will be “relatively mild.

In particular, he referred to the “relatively low debt levels of most companies. This allows us to hope that the recession will remain in the range of “mild to moderate, lasting about eighteen months,” Musk said.

The head of crypto venture capital firm Galaxy Digital, Mike Novogratz, holds similar views. In his opinion, bitcoin will continue to remain in the zone of uncertainty as long as the U.S. Federal Reserve tries to curb inflation risks. He also suggested that the cryptocurrency market is long overdue for a pause due to excessive activity.

One of the worst recession scenarios Novogratz called a takeover of U.S. cryptocurrency exchange Coinbase by “some big traditional financier.” Coinbase has long been aggressively cutting operating costs in anticipation of a deterioration in business in 2023.

We previously reported that two of Ethereum’s biggest whales came out of a 5-year hibernation and transferred almost $30 million.

Cryptocurrency

Coinbase Tanks 11% Pre-Market After $1.5B Q2 Revenue Miss

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Coinbase shares fell sharply after the company reported second-quarter earnings that missed expectations. Total revenue for the quarter came in at $1.5 billion, representing a 26% decline from the previous quarter.

The shortfall was largely driven by weaker-than-expected transaction revenue, which fell 39% quarter-over-quarter to $764 million.

Missing Expectations

In the official release, Coinbase revealed that its subscription and services revenue also declined 6% to $656 million. Despite efforts to reduce variable costs, operating expenses climbed 15% to $1.5 billion. Coinbase attributed this largely to the $307 million hit related to the data breach disclosed in May.

The crypto exchange recorded a net income of $1.4 billion, but this figure included $1.5 billion in pre-tax unrealized gains from strategic investments, including in Circle, as well as a $362 million pre-tax gain from its crypto investment portfolio. On an adjusted basis, net income stood at just $33 million, with adjusted EBITDA reaching $512 million.

Coinbase’s trading activity also underperformed the broader crypto spot market, as global and US crypto spot volumes declined 31% and 32% respectively. Meanwhile, its total trading volume fell 40% to $237 billion, and the consumer segment witnessed a 45% drop to $43 billion.

Consumer transaction revenue plunged 41% to $650 million, as volume shifted toward Simple trades amid low volatility. Institutional transaction revenue also saw a similar pattern, down 38% in both volume and revenue.

While Base Chain activity grew, other transaction revenue dropped 21% as average revenue per transaction declined.

As of the close on the previous trading day, Coinbase (COIN) shares were priced at $377.76, up slightly by $0.28. However, pre-market trading shows a sharp decline, with the stock down $42.30 (-11.20%) to $335.46. This steep drop suggests a strong negative reaction from investors, likely in response to recent earnings results.

Despite grappling with declining revenues and rising costs, Coinbase is doubling down on product innovation.

“Everything App”

Earlier this month, Coinbase rebranded its Wallet as the Base app, launching a crypto-focused “everything app” that merges trading, social media, USDC payments, mini-apps, and tokenized posts.

Announced at its “A New Day One” conference, the app runs on Coinbase’s Ethereum Layer 2 network and integrates Farcaster for social feeds, Zora for post tokenization, and encrypted XMTP chat. Users can earn from tips, interact with AI agents, and make one-tap payments.

The platform also introduced Base Pay for Shopify merchants and plans 1% USDC cashback in the US. The app is in beta, while a full public release and developer tools are expected soon.

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Dogecoin Slides 8% but Long-Term Channel Holds, Can DOGE Rebound?

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TL;DR

  • Dogecoin dropped to $0.20, moving in a $0.23 to $0.20 range during heavy selling.
  • Analysts see support in the long-term channel and a wedge pattern aiming for $0.265.
  • Large holders bought 310 million coins, while Bit Origin added 40 million to reserves.

Dogecoin Records Sharp Daily Decline

Dogecoin (DOGE) fell 8% in the past 24 hours, dropping from $0.22 to $0.21. This was one of the steepest daily moves for the token in July. The price action moved within a $0.23 to $0.20 range, facing resistance at the top and heavy selling near the session close.

However, trading volumes spiked, with a midnight surge to 1.25 billion DOGE, which points to large liquidations and cascading sell orders from leveraged positions. 

Dogecoin trades at $0.20 as of press time, down 11% over the past week, giving it a market cap of $31 billion.

Long-Term Channel Remains Intact

Trader Tardigrade shared a 1-month chart showing DOGE inside a long-term ascending channel that has held since 2014. DOGE has often bounced from the lower boundary of this channel, shown in pink on the chart.

Meanwhile, the current price is near the lower-middle part of the channel, an area that has led to multi-month rallies when the trend held. Dogecoin’s long-term structure stays intact while it trades within this ascending channel, even after the recent decline.

In addition, Trader Tardigrade also noted that Dogecoin’s monthly candle closed as the third consecutive bullish engulfing candle, which he described as a setup for a potential “move to Valhalla.”

Short-Term Wedge and Institutional Activity

Ali Martinez noted that DOGE may be forming a falling wedge on the 1-hour chart, with a projected target of $0.265. A move above $0.229–$0.230 would confirm bullish momentum, while $0.215–$0.210 remains key support if the wedge fails.

Institutional wallets acquired 310 million DOGE during the correction. Bit Origin added 40 million DOGE to its treasury under a $500 million diversification program. Broader crypto markets remain pressured by macroeconomic uncertainty, with inflation and equity risk shaping short-term demand.

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Pepe Dollar ($PEPD) Presale Picks Up Pace as Ethereum (ETH) Hovers Over $3,600

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[PRESS RELEASE – Covina, United States, August 1st, 2025]

Within the Ethereum ecosystem, Pepe Dollar ($PEPD) has entered its presale phase. Described as a meme token with integrated utility and cultural references, $PEPD introduces a tokenomics structure intended for long-term application. Certain Ethereum wallet holders have initiated ETH transfers to the presale, indicating early transactional activity.

Overview of $PEPD’s Positioning

Pepe Dollar ($PEPD) enters the market as a parody token referencing central banking themes, aiming to engage users through cultural commentary and decentralized finance (DeFi) mechanisms. Unlike traditional meme tokens, which often adopt simplified or repetitive token structures, $PEPD integrates design elements that combine cultural motifs associated with Pepecoin and components of DeFi architecture.

Comparison to Prior Meme Tokens

Pepe Dollar ($PEPD) enters the Ethereum ecosystem following the emergence of other meme tokens such as Pepecoin ($PEPE), $BONK, $LILPEPE, and $HYPER. The $PEPD model incorporates a tokenomics framework that includes a burn mechanism framed as a commentary on centralization. Its listing on CoinMarketCap has contributed to broader visibility. On-chain data indicates that several large Ethereum wallets have begun transacting with the token during its presale phase.

Pepe Dollar Presale – ETH’s Capital Rotation

Pepe Dollar’s presale architecture and project identity offer a compelling setup:

Presale Fundamentals:

  • Current Price: $0.004688
  • Tokens Sold: 166,938,905
  • Next Presale Price (Stage 2): $0.006495
  • Launch Price: $0.03695

Tokenomics and Supply

Pepe Dollar ($PEPD) will have a fixed supply of 3.6951 billion tokens. According to the project, 29% of the total supply is scheduled to be permanently removed at launch through a mechanism termed the “Federal Burn,” which is framed as a symbolic reference to traditional inflationary monetary systems.

Additional details disclosed by the development team include:

  • No developer tax mechanisms
  • No backdoor unlock functions
  • A publicly documented tokenomics model

Ethereum-Native Infrastructure

Pepe Dollar is designed to launch natively on Ethereum and integrate with existing Ethereum-based DeFi tools. The protocol includes functionality to support a meme asset minting platform, enabling users to create, deploy, and govern new assets using $PEPD. The project describes itself as operating at the intersection of cultural commentary and decentralized finance.

Project Links and Official Channels

About Pepe Dollar ($PEPD)

Pepe Dollar ($PEPD) is a decentralized Layer-2 payment infrastructure designed for the meme economy. Positioned as a satirical digital asset, $PEPD offers an alternative approach to traditional financial systems and aims to facilitate value creation within decentralized ecosystems.

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