Friday, August 15, 2025:
Market Performance:
- Bitcoin (BTC): Dropped 3.85% to below $119,000, though it later rebounded slightly. The price is resting at a critical support level, with technical analysis suggesting a potential climb toward its previous all-time high of $124,501 if the bullish pattern holds.
- Ethereum (ETH): Fell 2.43%, briefly dipping below $4,500 before recovering.
- XRP: Traded at $3.12, down 6.4% over the past 24 hours. The decline coincides with a legal update in the ongoing Ripple vs. SEC case, where both parties were due to submit a joint status update.
- Meme Tokens: Led the sell-off with an 8.62% drop, with tokens like PEPE, SPX6900, and Fartcoin plunging over 10%.
- Outliers: SKALE was a notable exception, surging nearly 48%.
Major News and Developments:
- Coinbase Acquisition: Coinbase completed its purchase of Deribit, a major crypto derivatives platform. This acquisition positions Coinbase as a significant player in the crypto derivatives market.
- MEXC's AI Features: The cryptocurrency exchange MEXC officially launched a new suite of AI-powered trading features, including an AI Select List, AI News Radar, and AI Bot Assistant, to help users with trading decisions.
- Ripple vs. SEC: Both Ripple and the SEC were set to submit a joint status update in their legal battle, with discussions potentially including a $50 million settlement.
- New Crypto IPO: A Peter Thiel-backed crypto firm, Bullish, went public, raising $1.1 billion in one of the year's biggest IPOs.
