Bitcoin, Ethereum, and XRP prices rose after Federal Reserve Chair Jerome Powell's comments hinted at a potential rate cut, boosting investor sentiment and a quick market recovery.
🔴 Total market capitalization rises above $4 trillion.
The total value of the cryptocurrency market surpassed $4 trillion with a 3.8% increase in overall market capitalization, driven by new inflows into trading funds and favorable regulation.
Kanye West launches Memecoin and causes a stir.
Artist Kanye West (also known as Ye) launched a new meme coin called YZY, after retracting his previous statements against such currencies. The coin experienced a rapid price surge and massive trading, but later saw a sharp collapse. Nansen reported that investors lost over $20 million as a result of the collapse and potential speculation.
Trump coins plummet and new regulatory authority under investigation.
Meme coins associated with former President Trump — $TRUMP and **$MELANIA** — have seen a dramatic decline in prices, between 88% and 98%. An investigation revealed that the Trump Organization made huge profits from trading fees, raising calls for an ethical review of the deals.
🍀 Summary Brief
The market moved positively following signals of interest rate cuts from the Federal Reserve.
The total market capitalization exceeds the $4 trillion threshold, amid increasing institutional interest.
Significant increase in media volatility with events related to YZY and $TRUMP, reflecting market sensitivity to exciting news, especially related to public figures.
$BTC #HEMIBinanceTGE #BinanceHODLerPLUME