Cryptocurrency
Bitcoin En Route to $60K Recovery, XRP Leads Altcoin Push, Germany Sells Out: This Week’s Market Recap
![](https://letizo.com/wp-content/uploads/2024/07/bitcoin-en-route-to-60k-recovery-xrp-leads-altcoin-pushgermany-sells-out-this-weeks-market-recap_669183ac4ae96.jpeg)
The cryptocurrency market has gone through a considerable rollercoaster in the past seven days, with the price action being as volatile as it can get. At the time of this writing, the total capitalization settled at around $2.5 trillion, up 3.5% during that period.
Bitcoin wasted no time and, on July 7th, pushed above $58K for the first time this week. The bears intercepted the move immediately and, on the following day, pushed it back below $55K, where buyers found a quick recovery only to bring it all the way back to $58K again… on the same day.
The entire week was more or less filled with this type of volatility. On Thursday, the US Bureau of Labor Statistics released the numbers for June’s Consumer Price Index, which clocked in at 0.1% less compared to the previous month. Markets took it as a sign of relief that inflation was slowing down, and Bitcoin surged immediately. Unfortunately, the move was for not, and the bears pushed it back below $57K.
Ultimately, BTC is currently trading at around $58K, but that’ rollercoaster was not the craziest thing that happened over the past seven days.
It appears that the German state that’s been selling massive amounts of BTC throughout the past week is finally getting closer to zeroing its holdings out. Many analysts are taking this as a sign that the pressure will be alleviated and that the prices might recover.
On the other hand, there’s the looming uncertainty of Mt. Gox creditors who receive their recoveries might start selling.
But enough about Bitcoin. Former US President and current presidential candidate – Donald Trump – will be making an appearance at a Bitcoin conference this month! This came as a shock to many, while others are associating it with the fact that he’s cozying up to the community because of the upcoming election later this year.
MicroStrategy—a well-known business intelligence firm and one of the largest corporate holders of Bitcoin—will be splitting its stock in a 10:1 ratio. The move was announced by its CEO, Michael Saylor, earlier this week, and MSTR shares popped on the news.
All in all, it’s been a very exciting week for most altcoins as well. They experienced similar volatility as Bitcoin, and some were even more volatile. For instance, XRP is up 9.1%, BNB is up 8%, and so forth.
It’s very interesting to see if the market will continue recovering now that the selling pressure from Germany is likely to decrease. If one thing is certain – we’re definitely in for exciting times ahead!
Market Data
Market Cap: $2.46T | 24H Vol: $71B | BTC Dominance: 50.9%
BTC: $58,022 (+2.6%) | ETH: $3,125 (+4.6%) | BNB: $532 (+8%)
This Week’s Crypto Headlines You Better Not Miss
Illinois Court Confirms That Bitcoin And Ethereum Are Both Commodities: CFTC Chair. The Chairman of the United States Commodities and Futures Trading Commission (CFTC) – Rostin Benham – has stated that a court in Illinois has formally ruled both Bitcoin and Ethereum to be commodities.
Ethereum Hitting New Records: 47.36 Million ETH Stake in the ETH2 Beacon Deposit Contract. Data shared by the crypto analytics firm Santiment reveals that Ethereum has managed to hit a new record. It appears that a whopping 47.36 million ETH has been staked in the ETH2 Beacon deposit contract.
SEC Drops Investigation Into Paxos For BUSD Stablecoin. The United States Securities and Exchange Commission (SEC) has dropped its investigation into Paxos for the BUSD stablecoin. The company will not be charged by the SEC with issuing an unregistered security in the form of BUSD.
MicroStrategy (MSTR) Pops 3% After Saylor Announces 10 For 1 Stock Split. The business intelligence firm MicroStrategy will be doing a 10 for 1 stock split. This was announced by its CEO, Michael Saylor. MicroStrategy is the world’s largest corporate holder of Bitcoin.
Donald Trump to Take Stage at Bitcoin Conference This Month. Former US President Donald Trump will be taking the stage at the Bitcoin Conference that’s being held in Nashville from July 25th to 27th. The appearance comes as a surprise and is interpreted as a win for the community.
Sell-Off by Small Bitcoin Traders Contrasted by Increasing Whale and Shark Holdings. It appears that small Bitcoin traders are selling off their coins. On the flipside, whales and sharks (terms used to describe larger holders) are accumulating more – a dynamic showcasing the higher conviction of larger BTC holders.
Charts
This week, we have a chart analysis of Ethereum, Ripple, Binance Coin, Dogecoin, and Polkadot – click here for the complete price analysis.
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Cryptocurrency charts by TradingView.
Cryptocurrency
Meme Index ICO Raises Millions as Investors Bet Big on New Era of Meme Coin Trading
![](https://letizo.com/wp-content/uploads/2025/01/meme-index-ico-raises-millions-as-investors-bet-big-on-newera-of-meme-coin-trading_679146ab626d6.jpeg)
Meme coins are famous for their volatility – but a new project wants to bring order to the chaos.
Meme Index (MEMEX) has raised over $2.7 million for its index-based approach to meme coin investing.
And with its early momentum showing no signs of fading, the future looks promising for MEMEX.
How Meme Index’s Diversification Strategy Works in Practice
Meme Index offers a simple solution to the volatility of meme coins: diversification.
Instead of betting on a single coin, Meme Index lets investors spread their risk across the entire meme coin market, similar to how traditional investors diversify their portfolios with stocks.
This is achieved through four indexes – each targeting a different area of the meme coin market.
The Meme Titan Index focuses on established coins like PEPE and SHIB, offering a more conservative approach.
For those seeking higher-risk, higher-reward opportunities, the Moonshot Index tracks promising newcomers with strong potential.
The Midcap and Frenzy Indexes cater to those interested in smaller coins.
This structure lets traders choose their risk level, offering exposure to big names and low-cap gems.
All while mitigating the anxiety of single-token investments.
It’s a setup that’s attracting a lot of attention online, especially on Twitter, where Meme Index has over 21,000 followers.
The MEMEX token has also been ranked on CoinSniper’s list of cryptos to watch.
MEMEX Token – High Yields Meet Community Governance
MEMEX is more than just a random coin; it’s the key to unlocking all of Meme Index’s features.
Holding MEMEX grants users access to all four indexes and also gives them governance rights.
This means token holders can actively participate in shaping Meme Index’s future.
They can vote on everything, from index composition to which features the development team should add next.
What’s also eye-catching is Meme Index’s staking program.
This program offers market-beating yields for MEMEX holders, estimated at 856% annually.
That means an investor could hypothetically stake 100,000 MEMEX and see their holdings grow to over 950,000 tokens in just one year (assuming the yield remains constant).
Some big-name YouTubers are beginning to discuss Meme Index’s potential.
NASS CRYPTO, who has over one million subscribers, released a viral video earlier this week about the project.
It has had more than 68,000 views in 24 hours.
The fact that such popular influencers are talking about Meme Index shows just how much interest there is in meme coin trading solutions.
Why Meme Index Could Thrive in a 2025 Bull Market
Meme Index’s momentum coincides with some bullishness in the crypto market.
Bitcoin’s latest all-time high and Wall Street’s growing acceptance of crypto have created huge positivity.
Political developments, such as Trump making pro-crypto appointments, add to the bullish sentiment.
Many believe the market is primed for another bull run.
And this context makes Meme Index particularly interesting.
During the previous bull run, meme coins produced enormous returns for some investors, but others suffered losses by getting in at the wrong time.
Meme Index’s index-based approach offers a solution to this.
Instead of trying to pinpoint when a meme coin might break out, traders can instead diversify across a basket of coins, capturing potential gains across the board.
The benefits of this are huge – lower risk, more balanced exposure, and a strategy that’s built for the long term.
No wonder Meme Index’s Telegram channel has multiplied in early 2025.
So, with millions in presale funding raised and a fast-growing online community, Meme Index looks set for a successful year.
Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.
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Cryptocurrency
Top Dogecoin Price Predictions as DOGE Whales Go on a Buying Spree
![](https://letizo.com/wp-content/uploads/2025/01/top-dogecoin-price-predictions-as-doge-whales-go-on-a-buyingspree_6791469fe89a5.jpeg)
TL;DR
- Analysts predict a bullish outlook for Dogecoin (DOGE), with potential price targets above $2, driven by bullish chart patterns and significant whale accumulation.
- The creation of Elon Musk’s Department of Government Efficiency (D.O.G.E.) has fueled speculation, with future endorsements potentially reflecting on the meme coin’s price performance.
DOGE’s Next Potential Targets
Dogecoin (DOGE) has experienced intense turbulence in the past week, with its valuation hovering between $0.33 and $0.43. It reached its local peak on January 18 (two days before Donald Trump’s inauguration), while currently, it trades at approximately $0.36 (per CoinGecko’s data).
Despite the significant volatility, many industry participants remain optimistic that DOGE could soon tap a new all-time high. X user Trader Tardigrade claimed that the asset has formed a bull flag on the 2-day chart, which could trigger a price explosion to as high as $2.
Prior to that, JAVON MARKS outlined an even more bullish prediction. They think DOGE has been “showing strength, and by historical performances, prices can be set for an over +432% gain from here.” The meme coin was trading at around $0.38 at the time of the forecast, and the potential increase would result in a valuation surpassing $2.
One major factor signaling that the OG meme coin could indeed witness a substantial rally in the short term is the whale activity. According to X user Ali Martinez, such large investors have purchased 590 million tokens (equaling more than $215 million) in the past 24 hours.
Consistent efforts in that field will reduce DOGE’s circulating supply and create upward pressure on the price (should demand stay the same or rise). In addition, the whales’ actions could encourage retail investors to follow suit and inject further capital into the ecosystem.
D.O.G.E. and DOGE
Another element signaling good days ahead for DOGE bulls is the establishment of the Elon Musk-led Department of Government Efficiency. The entity’s abbreviation is the same as that of the meme coin, while Tesla’s CEO is a huge proponent of the asset.
Earlier this week, Dogecoin’s value briefly skyrocketed by double digits after D.O.G.E. featured the token’s logo on its official website. It later removed it, but if Musk or the agency continues to endorse it, the price might rally again.
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Cryptocurrency
Coinbase CEO Suggests Possible USDT Delisting Under Regulatory Pressure
![](https://letizo.com/wp-content/uploads/2025/01/coinbase-ceo-suggests-possible-usdt-delisting-underregulatory-pressure_6791469a5e10f.jpeg)
Coinbase CEO Brian Armstrong has revealed that the exchange could be forced to delist USDT to comply with potential new regulations.
Armstrong was discussing the possible impact of new rules that could require stablecoin issuers to back their tokens entirely with U.S. Treasury bonds and undergo periodic audits to ensure transparency and financial integrity.
Shifting Regulatory Landscape
The executive was speaking to the Wall Street Journal on the sidelines of the World Economic Forum in Davos, where he stressed that it would be essential for his company to comply with the anticipated regulations even if it meant removing Tether from its platform.
Armstrong was also keen to point out that Coinbase would continue providing USDT services to customers to facilitate their off-ramping to other compliant assets. “We want to help them transition to a system that we think is more secure,” he said.
The exchange has already delisted several crypto assets from its European operations to comply with the Markets in Crypto Assets (MiCA) regulations. However, it has left the door open for possible relistings if the tokens meet the requirements at a “later date.”
One of the biggest criticisms leveled against Tether is that its quarterly attestations, published through BDO Italia, fall short of full audits. Additionally, observers argue that the reports may not meet the rigorous standards likely to be set by new U.S. legislation.
USDT currently dominates the stablecoin market, making up about 65% of the sector’s nearly $213 billion valuation. Its issuer holds about 80% of its reserves in Treasury bills, supplemented by assets such as gold and Bitcoin.
Towards the end of 2024, it added an extra $700 million worth of BTC to its reserves, bringing its total holdings of the cryptocurrency to $7.8 billion. This came even as its closest competitor, Circle, announced a partnership with Binance to help push the global adoption of USDC and whittle down USDT’s oversized market share.
Tether Finds a New Home
In April last year, Wyoming Senator Cynthia Lummis, together with her New York counterpart Kirsten Gillibrand, introduced the Payment Stablecoin Act, a bipartisan bill meant to create a framework for fiat-pegged cryptocurrencies.
If such legislation were to pass, it could force Tether to change its reserve policies and reporting methods to remain in the United States.
Interestingly, the crypto firm has already started shifting its focus away from the U.S. and European markets, positioning itself more in emerging economies. It recently announced plans to move operations to Bitcoin-friendly El Salvador, in what some see as a strategy to stay outside major regulatory zones.
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