Latest news with #CoinDeskMemecoinIndex
Yahoo
15-07-2025
- Business
- Yahoo
PEPE Falls 3% as Heavy Selling Overwhelms Bounce Attempts Despite Whale Accumulation
PEPE shed nearly 3% in the past day as traders dumped tokens in unusually high volumes, underscoring renewed anxiety in the cryptocurrency space and significant profit-taking. PEPE fell 3% with volatility hitting 7.74%, according to CoinDesk Research's technical analysis data model. The token saw peaks of $0.00001268 before tumbling to session lows around $0.00001169 early in the day. While prices briefly bounced, the rebound stalled quickly, leaving PEPE pinned near resistance around $0.00001206. The massive 24-hour trading volume, exceeding 3.47 trillion tokens, points to large liquidations or rapid repositioning by traders. It comes amid a broader market sell-off that has seen the CoinDesk 20 (CD20) index drop by 2.95% in the last day, while the CoinDesk Memecoin Index (CDMEME) receded 3.9%. Yet whale accumulation appears to remain robust. Data from Nansen shows that over the past seven days, PEPE whales on Ethereum added 1.4% to their holdings, which now total 305.26 trillion PEPE, while funds on exchanges dropped by 1.14% to 251.2 trillion. PEPE's performance over the past 24 hours underscored the intensity of the market's bearish tilt. The token dropped 3%, weighed down by relentless selling. Trading remained volatile, with prices swinging across a range of $0.00000980 and posting intraday volatility of nearly 8%. Bulls briefly pushed prices to $0.00001268 at one point, but strong resistance emerged at the $0.00001267 level. From there, sellers steadily took control, driving prices to a session low of $0.00001169. Though PEPE managed a modest rebound, climbing from $0.00001210 to as high as $0.00001217, momentum fizzled quickly. The coin settled near $0.00001206, now acting as a resistance zone, suggesting the market remains in consolidation rather than reversing its slide. Trading volumes soared beyond 3.47 trillion tokens, highlighting the scale of activity as traders reacted to shifting price levels. Until PEPE can hold above key resistance and absorb selling pressure, its trend appears locked in a bearish pattern. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Yahoo
11-07-2025
- Business
- Yahoo
PEPE Jumps 14% as Whales Pile In, Bitcoin Breaks $118K in Broad Crypto Rally
The price of PEPE (PEPE) shot up 14% over the last 24 hours, driven by large-scale buying and a broader rebound across the cryptocurrency space that saw bitcoin (BTC) top the $118,000 mark. The token surged from $0.000011141 to $0.000012812, adding fuel to a sector that thrives on online hype and sudden bursts of trading. While the broader CoinDesk 20 (CD20) index rose 7.3% in the last 24-hour period, the CoinDesk Memecoin Index (CDMEME) is up 11.3% in the same period. Behind the spike was also whale activity. Data from Nansen shows that the top 100 addresses holding PEPE have added more than 1% to their holdings just in the past day, to 304.1 trillion PEPE, while exchanges holdings have kept on dropping. Over the past month, the top 100 PEPE addresses grew their holdings by 2.3%, while the total amount of tokens held on exchanges dropped by 2.17% to 252.2 trillion. Technical signals hint at sustained momentum for PEPE. During the rally, the token traded in an 18% range between lows of $0.000009823 and highs of $0.000013068. A key resistance level emerged at $0.000012482, with price reversals happening there on heavy volume, according to CoinDesk Research's technical analysis data model. Meanwhile, solid support held near $0.000011013 as traders bought dips aggressively. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Yahoo
26-06-2025
- Business
- Yahoo
PEPE Slides 5% as Hype Fades Despite Elon Musk's April Nod
Pepe (PEPE) PEPE, one of the most prominent meme coins, is struggling to hold investor interest, falling 4.7% over the past 24 hours to $0.000009499, according to CoinDesk Research's technical analysis model. As for the broader memecoin sector, the CoinDesk Memecoin Index is down 3.87% in the past 24-hour period. The token's sharp decline marks a continuation of its recent downtrend, which has been marked by intense volatility and heavy intraday selling. Once a retail darling with viral momentum and even what appeared like a nod from Elon Musk back on April 9, PEPE has since slipped in market influence as attention shifts back to Bitcoin. Musk had briefly adopted a PEPE-themed profile picture that day, a move that sent waves through the meme coin space. Still, the hype has largely faded. This downturn is part of a broader shift across crypto markets, where Bitcoin's dominance has now climbed above 65%, a level not seen in over two years. The trend suggests growing investor preference for BTC over smaller altcoins, especially during periods of uncertainty and declining risk appetite. That shift is being felt acutely by high-beta assets like PEPE. Despite brief price rebounds, PEPE remains under pressure, facing resistance near $0.00001013. Its failure to sustain rallies reflects broader rotation away from meme coins, and its future performance may hinge on whether market sentiment returns to riskier assets or stays anchored in large-cap names. Technical Analysis Highlights PEPE-USD traded within a 16.1% range, falling from $0.00001017 to $0.00000940 between 25 June 09:00 and 26 June 08:00 UTC. Strong resistance formed at $0.00001013 during heavy selling between 25 June 14:00 and 16:00 UTC. A short-term support zone developed at $0.00000946–$0.00000950, where price bounced repeatedly on moderate volume throughout late 25 June and early 26 June. During the final 60 minutes of the analysis window, from 26 June 07:07 to 08:06 UTC, price moved from $0.00000959 to $0.00000955. A spike of 91.9 trillion units at 07:17 UTC on 26 June coincided with a brief 3.1% rally. Prices slipped 0.9% in the final minutes before close, reflecting short-term profit-taking. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
A Pre-Consensus Lift Amidst Lingering Recession Whispers
Like springtime in New York City, the crypto market got hot, all at once, in early May. After weeks of navigating choppy seas, influenced in part by anxieties surrounding the administration's trade brinksmanship, a palpable shift in sentiment propelled the crypto sphere into a notable rally. Bitcoin shape-shifted from a tariff tantrum mooring into a determined hunter of all-time highs. This bullish resurgence was not isolated. Ether, having endured a significant drawdown of over 50% since the start of the year, staged an impressive bounce, gaining 36% in the five days following the much-anticipated Pectra upgrade. The broader blockchain market mirrored this enthusiasm. The CoinDesk 20 Index, the benchmark for the performance of top digital assets, added nearly 18% in the past week, bringing its 30-day return to over 33%. Further down the capitalization spectrum, the CoinDesk 80 Index, which tracks assets beyond the top 20, also rebounded strongly from its lows, delivering 37% over the past month. Demonstrating truly epic participation breadth, the 50-constituent CoinDesk Memecoin Index added a 55% on the week and a whopping 86% in the last month. Given the fundamentally limited (zero) direct impact of tariff and trade news on the intrinsic value of most (all) crypto assets, this lunge higher feels like what they call a "sentiment shift." With CoinDesk's Consensus conference unfolding this week in Toronto, the timing couldn't be more opportune. The vibes are good. Performance of CoinDesk 20, CoinDesk 80, CoinDesk Memecoin Index, bitcoin, and ether since Liberation Day, April 2, 2025 Source: CoinDesk Indices This recent market exuberance, both within digital assets and across traditional risk-on asset classes, has not quelled the underlying concerns of those who believe the United States is gradually inching towards a recession. Official recessions, as declared by the National Bureau of Economic Research (NBER), are indeed relatively infrequent. Yet, today's unusual confluence of macroeconomic factors provides fertile ground for wariness. To wit, the initial estimate for first-quarter 2025 GDP showed a contraction of 0.3% at an annualized rate, a notable reversal from the 2.4% growth in the previous quarter. True, this figure was skewed downwards by a surge in imports as businesses rushed to beat anticipated tariff increases, yet a contraction in GDP is nonetheless a concerning data point. Adding to this unease is plunging consumer confidence. The Conference Board's Consumer Confidence Index fell sharply in April to 86.0, its lowest level in nearly five years, with the Expectations Index hitting its lowest point since October 2011 — a level often associated with recessionary signals. The University of Michigan's Consumer Sentiment Index echoed this weakness, falling to 52.2 in its preliminary May reading, driven by concerns over trade policy and the potential resurgence of inflation. Furthermore, their survey highlighted a surge in year-ahead inflation expectations to 6.5%, the highest since 1981. The growing U.S. debt burden and the persistent inability of the administration to tame the 10-year Treasury yield, despite apparent efforts, also contribute to the sense of economic fragility. Finally, the potential for collateral damage from ongoing or escalating trade wars, including businesses potentially reducing their workforce in response to disrupted supply chains and increased costs, adds another layer of concern. NBER Chart of US Unemployment Levels and Recession Periods Since 1978 Source: (Hey, NBER, should that read "since 1978?") To be clear, the prevailing sentiment among our network still leans against an imminent recession, and we don't make predictions. However, to dismiss the possibility of a recession in the current environment seems imprudent. Crypto has only experienced one NBER-declared recession, during the worst of COVID. While the market crisis caused a liquidity panic and significant drawdowns, the subsequent $5 trillion ocean of emergency fiscal stimulus (and millions of homebound people discovering crypto) pointed things north and delivered the 2021 bubble. We may not expect the same path in a future recession. So, what might we expect? On the one hand, there's a compelling argument to be made that bitcoin has now achieved a level of adoption and established a user base sufficient to begin fulfilling its long-touted destiny as a safe haven asset during times of economic turmoil. With the U.S. dollar potentially facing pressure amidst high inflation and a swelling debt burden, bitcoin's inherent scarcity and decentralized (and apolitical) nature are increasingly attractive. On the other hand, traditional recessionary environments are typically characterized by scarce liquidity, heightened risk aversion, a dominant focus on capital preservation and a diminished appetite for exploring nascent and volatile asset classes. A contraction in overall economic activity would also lead to reduced funding for entrepreneurial and even established ventures within the blockchain space. Finally, retail users, feeling the financial pinch of a recession, would likely have less "experimental money" to allocate to decentralized finance (DeFi) and other novel crypto applications. Therefore, even if bitcoin manages to attract safe-haven flows, other blockchain assets, particularly those promising future growth and innovation, could face significant headwinds and continued price pressure. In our view, one of the least constructive outcomes for the broader digital asset ecosystem would be a further increase in bitcoin's dominance at the expense of innovation and growth in other areas. What might provide a degree of resilience for the digital asset class and the industry as a whole is its energy for trading. Crypto functions more as a trading asset class than a predominantly investment-driven one. In both favorable and unfavorable economic conditions, trading volumes within the crypto markets have generally remained robust and resilient. It's conceivable that the active trading community could sustain the asset class until broader economic conditions improve. While a recession in the United States is a scenario few desire and one that remains outside the highest probability outcomes in most forecasts, and despite the recent sentiment shift, its possibility cannot be entirely dismissed. And, as a matter of economic cycles, periods of contraction are not entirely avoidable. For the sake of our burgeoning industry and the progress made in integrating digital assets into the fabric of global financial services — across trading, investing, lending, saving, and yield generation — we sincerely hope that even a modest stream of support will continue to drive technological development, investor education, accessibility, and broader adoption. Perhaps this will be fueled by one of crypto's original notions: that the traditional economic system has faltered.
Yahoo
16-04-2025
- Business
- Yahoo
Institutions Drive Bitcoin Dominance: Q1 2025 Crypto Market Analysis
The first quarter of 2025 was a reality check for digital assets. While the year began with optimism fueled by the election of a pro-crypto U.S. president and expectations of a friendlier regulatory environment, macroeconomic challenges quickly came to dominate the narrative. Bitcoin briefly reached a new all-time high of $109,356 before ending the quarter down 11.6%, its second-largest quarterly decline since Q2 2022. Altcoins fared worse, with indices more heavily weighted toward smaller-cap tokens such as the CoinDesk Memecoin Index (CDMEME) and the CoinDesk 80 (CD80) declining by 55.2% and 46.4%, respectively. You're reading Crypto Long & Short, our weekly newsletter featuring insights, news and analysis for the professional investor. Sign up here to get it in your inbox every Wednesday. Beneath the surface, a more fundamental shift is playing out. The gap between bitcoin and the rest of the market continues to widen, driven in large part by institutional behavior. As outlined in our latest Digital Assets Quarterly Report, institutions are playing an increasingly decisive role in shaping capital flows, preferring liquid and regulated large-cap assets. This shift is pushing the digital asset market toward more structured, benchmark-driven strategies. One of the clearest signs of this realignment comes from bitcoin dominance, which expresses bitcoin's total market capitalization as a percentage of the market capitalization for all cryptocurrencies combined. This figure rose to 62.2% in Q1, its highest level since February 2021. Notably, this increase occurred despite a 26.9% drop in bitcoin's total market capitalization from its January peak. Our latest chart of the week highlights this trend, showing how capital rotated out of speculative assets and into bitcoin as macro volatility and geopolitical uncertainty mounted. The CoinDesk 20 Index (CD20) has emerged as a useful lens for tracking this institutional shift. While the index fell 23.2% in Q1, it significantly outperformed most major digital assets. XRP was the only CD20 constituent to post a positive return, rising 0.4% in the quarter, driven by the dismissal of the SEC's case against Ripple, as well as strong growth in its RLUSD stablecoin. RLUSD's market cap surged 323% in Q1 to reach $245 million, while cumulative trading volumes exceeded $10 billion in just over three months. By contrast, ether fell 45.3% — underperforming most major assets amid continued migration of user activity to Layer 2s and a lack of positive catalysts. U.S. spot ETH ETFs saw net outflows of $228 million in Q1, compared to net inflows of over $1 billion for bitcoin ETFs. The ETH/BTC ratio declined to 0.022, its lowest level since May 2020, reinforcing the shift in relative dominance this cycle. Bitcoin's broader role as a macro asset also continued to gain traction. In addition to strong ETF flows, public companies added nearly 100,000 BTC to their holdings in Q1, representing a 34.7% increase. This brought the total held by such companies to 689,059 BTC — equivalent to more than $56.4 billion at current prices. The launch of the U.S. Strategic Bitcoin Reserve, along with the introduction of a broader Digital Asset Stockpile by the Treasury, further underscored bitcoin's growing legitimacy within U.S. policy. Looking to Q2, the tone in markets has improved following the recent pause in new tariff measures. Risk assets responded favorably, and altcoin ETF optimism remains high. Nearly 40 spot ETF applications for altcoins were submitted in Q1 alone, led by those for Solana and XRP, which each had eight filings. Other assets applying for spot ETFs included Litecoin, Dogecoin and Polkadot. With Solana futures now live on the CME, the precedent for institutional-grade altcoin exposure continues to build. The first quarter offered a reminder that digital assets are no longer moving in isolation. As macro conditions evolve and policy shifts begin to reshape the regulatory environment, capital is consolidating into assets with deeper liquidity, stronger narratives and institutional relevance. Bitcoin's rising dominance, shifting ETF flows and the fragmentation of altcoin performance all point to a market recalibrating around structural factors rather than sentiment alone. For a deeper dive into these dynamics, including full index performance and constituent insights, you can access the full Digital Assets Quarterly Report here. Sign in to access your portfolio
