Kategorie: Crypto Markets

• Launch Coin on Believe price rose suddenly, jumping 60% to highs of $0.118.
• Gains saw a surge in liquidations, with crypto trading firm.

Launch Coin on Believe (LAUNCHCOIN) price surged nearly 60% in early trading on Tuesday, with the altcoin’s sudden pump leading to significant losses for shorts.

The token’s rapid price increase also triggered a cascade of liquidations, with on-chain data showing a liquidity provider suffered losses of over $4 million.

Launch Coin on Believe price sees sudden 60% pump

Cryptocurrencies like Worldcoin and MYX Finance are riding bullish news to top gainers charts over the past 24 hours. Meanwhile, small cap token LAUNCHCOIN is also attracting social chatter.

As noted, the Launch Coin on Believe price experienced a sharp price surge amid a nearly 60%  spike. Trading around $0.076 in early deals during the Asian session, LAUNCHCOIN suddenly pumped to $0.132.

This sudden jump accounted for a 60% rise that hit many traders betting on a continued consolidation or downturn.

With intense buying pressure, driven by speculative trading and potential market manipulation, LAUNCHCOIN saw its daily trading volume skyrocket.

According to CoinGecko, the rapid ascent pushed volume on centralized crypto exchanges such as LBank and Bitget 540% up, and stood around $255 million in 24 hours.

The more than fourfold increase in volume from the day before attests to the sharp uptick in market activity.

$4 million loss amid cascade of liquidations

While buyers celebrated the meteoric price surge, LAUNCHCOIN’s gains saw a notable market player suffer significant losses.

According to analytics account Lookonchain, a wallet linked to the market maker GSR suffered one of the biggest losses as the token’s price rose.

The wallet, shown to have been hedging a short position on LAUNCHCOIN, was fully liquidated. It meant a loss equivalent to $4 million as GRS Market’s other positions saw a cascade of liquidations on decentralized exchange Hyperliquid.

As liquidation on LAUNCHCOIN’s gains hit the leveraged positions betting against a price increase, other positions too were wiped out. Lookonchain notes GRS Market’s other short positions caught in the carnage included Mantle, Popcat, Chainlink and Lido DAO.

“The liquidation of #GSRMarkets’ short position triggered a domino effect, wiping out their other shorts on $MNT, $POPCAT, $LINK, and $LDO, and zeroing out the account,” Lookonchain posted.

LAUNCHCOIN’s price currently hovers around $0.091, slightly off its intraday high. The $0.08 level, above which bulls took charge for the spike, is likely to be critical if price falls further.

As LAUNCHCOIN looks for a decisive move, analysts say the event highlights how the cryptocurrency trading market can offer opportunity but also be a brutal arena with fortunes shifting in an instant.

The post LAUNCHCOIN price pump leads to $4m loss for crypto trading firm appeared first on CoinJournal.

• Crypto is failing to rally with stocks despite growing Fed rate-cut hopes.
• Traders are cautious and defensive ahead of a key US inflation (CPI) report.
• A “split-screen reality” exists between short-term fear and long-term adoption.

A feast is raging on Wall Street. A dismal US jobs report has sent stocks and bonds soaring, as investors celebrate the near-certainty of a Federal Reserve interest rate cut.

But in a strange and unsettling paradox, the cryptocurrency market has refused its invitation to the party.

Instead of joining the rally, digital assets are trapped in a nervous, range-bound state, haunted by the specter of a looming inflation report and a deep internal conflict between short-term fear and long-term faith.

While the broader markets are buzzing with optimism, crypto traders remain staunchly defensive.

Bitcoin is holding steady above 111,600 dollars, but is showing no signs of a breakout.

Options markets confirm this cautious stance, with QCP Capital noting that risk reversals are heavily skewed toward puts, a clear sign that traders are paying a premium to protect against a downturn ahead of Thursday’s crucial US Consumer Price Index (CPI) report.

The split-screen reality

This is the great “split-screen reality” of the 2025 crypto market, a term coined by the market maker Enflux.

On one screen, you have the chaotic, headline-driven world of speculative trading, currently paralyzed by fear.

On the other, a much quieter but more profound story is unfolding: the slow, steady, and relentless construction of the rails for mainstream institutional adoption.

Enflux argues that while traders are fixated on the CPI print, they are missing the more significant developments.

The SEC is creating forward-looking rules, and crypto-native firms like Coinbase are being integrated into major indices.

This, they contend, is the real story. “Structural legitimacy, not speculation, remains the real story of 2025,” Enflux wrote in a note to CoinDesk.

A tale of two paths to legitimacy

This split-screen narrative played out in real-time on Friday in a powerful and revealing way.

Michael Saylor’s Strategy, a pure-play Bitcoin treasury, was passed over for inclusion in the S&P 500 despite meeting all the technical criteria.

In its place, the index unexpectedly welcomed Robinhood, a crypto-adjacent firm with a more diversified, traditional business model.

The market’s verdict was swift: Robinhood’s stock surged 7 percent, underscoring a clear preference for companies that offer a regulated and familiar bridge to the world of digital assets.

The wild west still haunts the east

At the same time, the other side of the screen was flashing with the kind of drama that keeps institutional capital on the sidelines.

The DeFi protocol WLFI sent shockwaves through the market by freezing over 270 wallets—including that of the high-profile whale Justin Sun—to supposedly “protect users” after a crash.

The move, a stunning display of centralized power in a supposedly decentralized world, rattled even seasoned players.

The question quickly spread through insider channels: “If they can do it to Sun, who’s next?”.

“On one side, speculative narratives like WLFI risk cannibalizing themselves through governance drama,” Enflux wrote.

On the other hand, institutional-grade infrastructure and regulation are solidifying at a pace that suggests the rails for mainstream adoption are being laid faster than most expect.

This is the central conflict defining the market. For traders, the short-term noise of the CPI report is deafening. But for long-term investors, the signal of structural legitimacy is growing stronger every day.

The question now is which of these two powerful forces will ultimately win the war for crypto’s soul.

The post Market at war with itself: why crypto is ignoring a massive Wall Street rally appeared first on CoinJournal.

• PENGU price surges to $0.033 amid 300% volume spike.
• The memecoin could rally to $0.036 and $0.043 before bulls target the all-time high of $0.057 reached in December 2024.
• Overall crypto market conditions and Pudgy Penguins-specific catalysts could aid this bullish quest.

Pudgy Penguins’ native token, PENGU, has experienced a notable uptick in the past 24 hours, rising double digits to $0.032.

The memecoin’s surge, driven by a staggering 300% increase in trading volume, puts buyers on the verge of a potential breakout to highs last seen in mid August.

PENGU price surges as volume jumps 300%

MYX Finance and Worldcoin are the top two gainers among the 100 largest coins by market cap in the past 24 hours.

But while MYX and WLD lead with 179% and 23% respectively, PENGU has seen a double-digit price increase of its own as it hovers 16% up.

The altcoin climbed to highs of $0.033 for the first time since August 25, with market data showing the gains tracked a 300% spike in daily trading volume.

As exchanges like Binance, OKX  and Bybit reported huge trading activity for the coin, cumulative spot trading jumped to over $564 million.

Data from Coinglass showed open interest jumping from $270 million to over $310 million, while the double digit gain pushed more shorts into rekt positions.

As of writing, data showed over $1 million in bearish bets wiped out in 24 hours, compared to about $360k in long positions.

Pudgy Penguins price forecast

PENGU’s impressive performance aligns with a decent bounce for several altcoins.

Notably, factors such as the U.S. Securities and Exchange Commission (SEC) acknowledging proposed PENGU/NFT exchange-traded fund and overall resurgence in macro sentiment gives bulls a boost so needed heading into Q4.

Support for Pudgy Penguins as a collateral asset on Coinbase for perpetual futures trading and other integration news add to the bullish outlook.

Ecosystem growth is another factor and the project was recently noted amid a key partnership:

“Pudgy Party is a fast-paced mobile game featuring 6 game modes and 35 maps to enjoy solo or with friends. Collect resources and unlock rare costumes featuring collaborations with some of the world’s biggest brands and internet-native IPs.”

From a technical indicators point of view, the Relative Strength Index (RSI) stands at 53 and is upsloping. This suggests upward momentum is likely.

PENGU’s daily chart also shows the Moving Average Convergence Divergence (MACD) hinting at a bullish crossover.

Crypto analyst Ali Martinez has also pointed out that Pudgy Penguins is currently a buy given the TD Sequential indicator.

If the MACD line decisively rises above the signal line, it will affirm the upward momentum and combine with the breakout of a downtrend line to allow bulls to target $0.036 and $0.043.

PENGU price reached an all-time high of $0.057 in December 2024.

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