Kategorie: Crypto Markets

• The withdrawal of Joe Biden has caused some market volatility with $113M worth of traded liquidated.
• Investors are flocking to Poodlana (POODL) presale, which has so far raised over $1.92M.
• Poodlana (POODL) plans DEX listing within 60 minutes of exchange listing.

The unexpected withdrawal of US President Joe Biden from the 2024 presidential race has led to a significant crypto market volatility. Within 30 minutes of the announcement, $67 million in leveraged long positions were liquidated.

However, amidst this chaos, Poodlana, a new entrant in the meme coin market, has captured investor attention with its high-fashion branding and successful presale, raising nearly $2 million.

Market chaos following Joe Biden’s withdrawal

Joe Biden’s sudden exit from the 2024 presidential race sent shockwaves through the cryptocurrency market.

Between 5:30 pm and 6:00 pm UTC on July 21, the market saw $67 million worth of leveraged long positions liquidated, triggered by a 2.3% drop in Bitcoin’s price to $65,880.

This rapid decline was part of a broader 12-hour period that witnessed a total of $81.1 million and $53.4 million in long and short positions, respectively, being wiped out according to CoinGlass data.

Bitcoin and Ether were the most affected, with Bitcoin experiencing $43.8 million in liquidations and Ether $31.1 million.

The market reaction can be attributed to the uncertainty Biden’s withdrawal introduced. Markus Thielen, founder of cryptocurrency firm 10x Research, noted that Biden was seen as a weak candidate against Trump, and his exit left no credible alternative, leading to increased market volatility.

Interestingly, a massive buy order during this period helped Bitcoin recover swiftly, reaching a 24-hour high of $68,480 and causing traders with short positions to incur $34 million in losses.

Poodlana (POODL) emerges as a new investment haven

Amid the market turmoil, Poodlana (POODL), branded as “The Hermès of Crypto,” has managed to attract substantial investor interest.

Launched at a price of $0.02, Poodlana’s token price has quickly risen to $0.023. The presale price is rising every 72 hours, raising the stakes for investors to invest early before the price rises.

At press time, Poodlana had raised an impressive $1,918,665.37 in less than a week since the launch of the presale.

The presale, scheduled to run for 30 days from July 17, has drawn attention due to its strategic positioning and high-fashion branding.

Unlike typical presales, Poodlana offers immediate token availability post-presale, aligning with its commitment to transparency and fairness.

The presale’s success is also fueled by the broader resurgence of meme coins. Investors have shown renewed interest in meme-based digital assets, with established tokens like Dogecoin (DOGE), Bonk (BONK), Pepe (PEPE), and dogwifhat (WIF) experiencing significant gains.

Over the past week, Dogecoin has seen a 16% increase, Bonk has seen a 25% increase, Pepe has seen a 25% increase, and dogwifhat has seen a 49% increase.

This trend underscores a growing appetite for meme coins, positioning Poodlana as a promising investment.

Future prospects for Poodlana and the meme coin market

Poodlana plans to list on decentralized exchanges (DEX) like Raydium within 60 minutes of the presale’s conclusion on August 16, ensuring immediate visibility and liquidity.

The project also aims to launch a chic staking platform, offering attractive rewards for token holders.

Additionally, Poodlana has planned surprise airdrops and bonuses to celebrate key milestones, enhancing its appeal to investors.

The project emphasizes global outreach, particularly targeting Asia and international markets. Collaborations with top influencers, high-end fashion brands, and lifestyle platforms are in the pipeline to amplify its presence.

Poodlana’s strategic focus on creating an exclusive, high-fashion brand in the crypto space sets it apart from typical meme coins, attracting trendsetters and high-profile investors.

Notably Poodlana’s entrance into the crypto market coincides with an increased interest in meme coins as Solana based meme coins like Pooodlana carry the day.

Conclusion

Amidst the exacerbated crypto volatility following the withdrawal of by Joe Biden from the presidential race, Poodlana emerges as a beacon of opportunity for investors. Its successful presale, coupled with strategic branding and future plans, positions it well in the evolving meme coin market.

As Poodlana gears up for its first exchange listing and broader market integration, it represents compelling investment opportunity for fashion and crypto lovers.

If interested in purchasing Poodlana (POODL), visit the official website.

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• Ryan Selkis is stepping down as CEO of crypto platform Messari.
• Eric Turner, the company’s chief revenue officer, replaces him as interim CEO.

Ryan Selkis is stepping down from his role as CEO of crypto platform Messari, the firm announced on Friday.

Selkis, whose exit as CEO will see him take up a senior advisor role, is taking this step after a week that saw him face post a series of controversial political tweets.

“A leader’s first responsibility is to his team. This week was the first week in 6.5 years that my politics and rhetoric put the team in harms way,” he wrote. “As such, I have decided to step aside as CEO.”

Selkis’ political tweets

Selkis has increasingly been vocal in his support for former President Donald Trump’s candidacy in the upcoming US election. Having castigated President Joe Biden severally on X, Selkis became particularly ill-tempered after last week’s attempted assassination of Trump during a campaign rally.

In one tweet, he noted that anyone looking to vote against Trump in November could as well “die in a f*cking fire.” He also called the upcoming election “literal war” and told an immigrant that he hoped the US sends them back.

On July 18, Selkis shared via X that the attempted assassination had USA “narrowly” avoid Civil War. He met the Messari team after he “ran too hot this week,”- referring to his outbursts and statements on X.

Messari confirmed his exit:

“Ryan recently let us know of his decision to step back from an operational role as the CEO of Messari so that he can focus his time fully on crypto policy and national issues of importance to him. Messari would not be the company it is today, or what it will be in the future, without Ryan’s clear vision and devoted leadership,” the company announced.

Eric Turner, the company’s chief revenue officer, will take over as the interim CEO.

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• Solana (SOL) breakout above $160 could ignite rally to new year-to-date highs.
• Poodlana (POODL) has hit $1.4 million in presale, just 48 hours after launch.
• Catalysts such as SOL price gains, Asia’s love for Poodlana and meme coins surge make POODL attractive in presale.

Solana (SOL) is trading above $160 as bulls look to strengthen. Meanwhile, viral meme coin Poodlana (POODL) has ignited a major frenzy as its presale smashes past the $1.4 million mark within 48 hours of launch.

SOL has analysts eyeing recent highs amid positive sentiment, likely driven by further gains for BTC and ETH.  Solana’s price is among the top gainers in the past 24 hours on CoinMarketCap at the time of writing, springing more than 2.4% as trading volume surpasses $2.7 billion.

Solana targets new momentum above $160

The price of Solana has returned to levels seen when the cryptocurrency benefited from upside sentiment from spot SOL exchange-traded funds (ETFs) applications. VanEck and 21Shares filed their respective spot Solana ETFs a few weeks ago.

A run for Solana meme coins is also shaping up as SOL changes hands above $160.

Bulls might target $175 if they build momentum above $164, which analysts say is a key supply wall area. Yet, with meme coins like dogwifhat (WIF) leading the upward charge, the likelihood of SOL hitting full gas towards $200 is increasing.

Interest in presale trendsetter Poodlana could also be another factor.

Poodlana presale quickly raises $1.4 million

The Solana meme coin market has top tokens like WIF, BONK and POPCAT. But none have mastered as much interest from crypto as has Poodlana – the Solana meme coin that has exploded onto the scene by going viral in Asia.

In just over 48 hours, Poodlana’s presale has raised over $1.4 million.

The project surpassed the $1 million milestone within 24 hours as FOMO kicked in across the market. Most of the presale pace has come from Asia where the poodle is a top dog breed – the glamourous entry says it all.

POODL – how attractive is Poodlana?

Poodlana is a crypto meme project that combines the appeal of the poodle, the fashion world’s entry into crypto and the rapid growth of meme coins on Solana.

Asia, with Japan, Korea and China at the helm, are key destinations for all three – Asian’s love poodles, the region commands huge volume in the crypto market and top meme coins have found the earliest traction before going viral in Asia.

The expectation is that Solana is set for a new bull run, and so are meme coins. A quick-fire sale that will see Poodlana launch its first DEX 60 minutes after presale close also means POODL would be ready to explode amid a broader market spike.

Poodlana price

With 500 million POODL on offer during the presale, an early bird looks like the best time to position with Poodlana.

Currently, POODL remains priced at $0.02 in the first stage of presale. However, it will rise through the next nine stages as the 30-day presale speeds towards the final day on August 16, 2024. Immediately after, Poodlana will be trading live on the market, offering early adopters the chance to bask in glamour and opportunity.

More details about Poodlana are on the official website.

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Polygon Labs has announced Ethereum Layer 2 blockchain Polygon’s technical upgrade for MATIC to POL will go live on September 4, 2024.

The Polygon (MATIC) price traded lower amid the news, although the losses also reflected the downside pressure across other cryptocurrencies.

MATIC to POL transition

Polygon’s transition from MATIC to POL is an upgrade that first surfaced in July last year and made to community governance via PIP-17 in September.

In this proposal, the key idea is the replacement of MATIC with a new token that would be used for gas and staking. This upcoming upgrade is a step that follows the POL ERC-20 contract implementation in October 2023.

Polygon Labs made the official announcement for the upgrade to POL on Thursday, revealing the initial phase as one that will see POL replace MATIC. In later phases of the upgrade, POL will take on more network functionality, including in the AggLayer.

The AggLayer is a decentralized protocol with a common bridge and ZK-powered mechanism designed to solve issues of blockchain fragmentation through sovereign chains and shared liquidity.

“But even as the aggregated Polygon network emerges, POL will have immediate utility on the widely adopted Polygon Proof-of-Stake (PoS) network that exists today: POL will be the native gas and staking token of Polygon PoS—and fundamental to Polygon network security,” Polygon Labs wrote in a blog post.

What does it mean for MATIC holders?

According to Polygon Labs, those who hold MATIC on the Polygon PoS chain don’t have to do anything as the upgrade from MATIC to POL will be automatic.

However, for holders with their MATIC tokens on other chains and platforms may have need take certain actions. These other chains include Ethereum and Polygon zkEVM as well as centralized exchanges (CEXs).

In this case, when the upgrade date rolls in, those ready to migrate MATIC to POL will need to use a migration contract.

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• Charles Hoskinson believes a win for Joe Biden would be the “death of the American crypto industry”
• Hoskinson thinks politicians will stop “bullying and harassing” the crypto industry when they realise it will lead to lost votes
• Earlier this week, Ethereum co-founder Vitalik Buterin asked the crypto community not to choose a political candidate based on whether they were “pro-crypto”

Charles Hoskinson, co-founder of Input Output Global and the Cardano blockchain, disagrees with Vitalik Buterin’s statement that voters should be against choosing a candidate based on who’s “pro-crypto.”

In a post on X, Hoskinson argues against what the Ethereum co-founder wrote, stating that a vote for current US President Joe Biden would be the “death of the American crypto industry,” and that the crypto community should “vote for pro-crypto candidates.”

In his opinion, candidates will stop “bullying and harassing” the crypto industry when they realise it only leads to lost votes. “Politics is a game of cause and effect,” he wrote.

Cautious Stance

Earlier this week, Buterin expressed concern about voters backing candidates who support cryptocurrencies without fully understanding their objectives.

In a post titled “Against choosing your political allegiances based on who is ‘pro-crypto,” Buterin urged people to look at a politician’s views on crypto from five years ago as this could be a good indication of where their views might be in the future.

“If you see a politician being crypto-friendly, one thing you can do is look up their views on crypto itself five years ago,” he wrote. “Similarly, look up their views on related topics such as encrypted messaging five years ago.”

Referencing the Stand With Crypto political initiative, which launched in May, Buterin states that the key bills listed, which the group uses, made “no attempt…to judge politicians on freedoms related to cryptography and technology that go beyond cryptocurrency.”

“If a politician is in favour of your freedom to trade coins, but they have said nothing about the topics above, then the underlying thought process that causes them to support the freedom to trade coins is very different from mine (and possibly yours),” Buterin argued.

“This in turn implies a high risk that they will likely have different conclusions from you on issues that you will care about in the future.”

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