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The United States Federal Reserve announced a third consecutive rate cut, this time by 25 basis points. Unlike the previous such occasions in the past few months, bitcoin and the rest of the crypto market headed south immediately and violently. Perhaps the reason for this lies in Fed Chair Jerome Powell’s words as he hinted that the central bank might halt its current policy of reducing the key interest rates due to the alarming CPI data that came out for November and October. “Today was a closer call but we decided it was the right call,” he said. Bitcoin’s price tumbled hard as the asset plummeted to a multi-day low of $100,250, and the freefall doesn’t seem to be near its end. The cryptocurrency had already retraced from $108,300 to $105,000 within a day, making a 36-hour decline of more than eight grand. Bitcoin/Price/Chart 18.12.2024. Source: TradingView Naturally, the more volatile by nature altcoins felt the pain even more. XRP is among the poorest performers on a daily scale, as it briefly dumped below $2.2 minutes ago before bouncing to $2.3. Nevertheless, Ripple’s native token is down by over 11% on a daily scale. The price declines from DOGE, AVAX, and SHIB are similar, while ETH, BNB, and SOL have posted slightly less painful drops. Still, the total crypto market cap, which had already tumbled by $150 billion since yesterday, has lost another $200 billion and is down to $3,650 trillion on CG. The total value of wrecked positions has skyrocketed to almost $700 million, according to CoinGlass. Longs are responsible for the lion’s share ($600 million), while the overall number of liquidated traders is above 250,000 on a daily scale. Liquidation Heat Map. Source: CoinGlass The post Bitcoin Price Tumbles Toward $100K Despite Fed’s Latest Rate Cut appeared first on CryptoPotato .
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Trump Patriot (TRUMPPAT) Solana Memecoin Will Surge 19,000% Ahead of Exchange Listing, While SHIB and DOGE Underperform
Trump Patriot could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Trump Patriot (TRUMPPAT), a new Solana memecoin that was launched today, is set to explode over 19,000% in price in the coming days. This is because TRUMPPAT is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Trump Patriot can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days. Early investors in SHIB and DOGE made astronomical returns, and Trump Patriot could become the next viral memecoin. Trump Patriot launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains. How to Buy To buy Trump Patriot on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Trump Patriot by entering its contract address – 9hmvtogFEjzZQMFfJ5Hiq7fQSq7E38mG3Qjb7X42qM6P – in the receiving field. If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others. In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price. If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner. The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum. This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like TRUMPPAT. Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price. Crypto Potato
Fantom`s Rebranded Layer 1 Sonic Goes Live
Fantom’s rebrand to Sonic is complete, with Sonic mainnet launching to the public today. FTM holders can migrate to Sonic and convert their FTM tokens into the new chain’s native token, S, and get started with its ecosystem. S token staking is available, with governance “coming soon” according to Sonic Labs’ blog post . There will also be an upcoming airdrop of S to users, with 190 million S, 6% of the total supply, worth $260 million at the time of writing. The S airdrop is set to be distributed based on “Sonic Points” for both passive and active users. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io Crypto Potato
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Kraken Launches Ink Layer-2 on Ethereum Mainnet
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