Kategorie: Crypto News

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Crypto markets reel after $1.7B wipeout: Bitcoin, Ethereum, and Dogecoin struggle to recover

  • Bitcoin steadies near $112,574 after flash crash wipes $1.7B in leverage.
  • Ethereum trades at $4,198, struggling to recover momentum.
  • Macro worries, Fed policy, and liquidations keep traders cautious.

Cryptocurrencies continue to be defensive this Tuesday, September 23, as investors lick their wounds from the carnage that hit markets barely 24 hours ago.

After a high-stakes selloff erased over $1.7 billion in leverage overnight, even the biggest digital coins haven’t found their footing.

The mood? Anxious, with traders bracing for more bumps ahead as macro jitters and regulatory headlines swirl.

Bitcoin, Ethereum, and friends: Cautious trade after the crash

The fallout from Monday’s sharp drop is still echoing across exchanges. Bitcoin, still the market’s north star, is trying to pick itself up after dropping under $112,000.

As of this morning, it’s hovering around $112,574, just a fractional move higher that does little to erase the pain of the previous session.

Ethereum, too, is feeling the weight. The second-largest crypto by market cap changed hands at $4,198, a modest but underwhelming move after Monday’s slide to below $4,100.

Solana is faring no better, sitting at $219 while technical analysts debate whether buyers will step in or a further drop is in store.

XRP slipped to $2.84 as well, breaking a weeks-long upswing.

Meanwhile, Dogecoin is trading at $0.24, down 3.79%, offering little consolation to holders who have already seen the token shed more than 14% since its last peak.

The culprit? Monday’s flash crash was driven by a perfect storm: technical breakdowns, surging Treasury yields in the US, ongoing macroeconomic worries, and a rush of forced liquidations that left hundreds of thousands of traders on the wrong side of the trade.

There’s little appetite for bold bets as risk aversion lingers and volumes thin out.

Beyond prices: Policy shifts and broader market moves

It’s not all about the charts, though. In the background, the Fed’s rate outlook is shaping sentiment across risk assets.

The central bank’s slightly softer stance has analysts speculating about when relief could flow back into crypto, but for now, most remain cautious.

Meanwhile, Google’s ongoing push into blockchain infrastructure and a key crypto, blockchain, and AI conference kicking off in Zurich give the sector something to cheer about even in a tough week.

As September draws to a close, nobody is resting easy. Volatility is the only constant, and with both policy and sentiment in flux, everyone’s watching for either a relief bounce or another unforgiving leg down.

The post Crypto markets reel after $1.7B wipeout: Bitcoin, Ethereum, and Dogecoin struggle to recover appeared first on CoinJournal.

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Pump.fun, dogwifhat and Pepe plummet as top memecoins crash

  • Pump.fun, dogwifhat and Pepe prices fell sharply on Monday.
  • The downturn for the memecoins came as Bitcoin dropped to near $112k.
  • Headwinds for risk assets could see PUMP, WIF, and PEPE register more pain.

Pump.fun, dogwifhat and Pepe plummeted as memecoins crashed amid fresh turbulence for cryptocurrencies.

Memecoins have come under sharp pressure as Bitcoin’s momentum cools following its surge to fresh highs above $117,000 last week.

The benchmark cryptocurrency has since slipped back toward $112,000, a retreat that has dampened broader market sentiment and triggered profit-taking across altcoins.

Memecoins are some of the big underperformers in the past 24 hours.

PUMP, WIF, and PEPE prices dump 10% or more

While Dogecoin, Shiba Inu and Bonk are among the top losers, the downturn has been particularly acute for PUMP and WIF.

Pump.fun (PUMP) reached an all-time high of $0.01214 in July.

However, with profit taking and overall downturn, the token has fallen to lows of $0.0060 following the bearish flip around $0.0089 on Sept. 14.

With a price decline of over 16% in the past 24 hours, Pump.fun mirrors the losses of Pi Network and Conflux among the 100 largest coins by market cap.

The PUMP price is down 25% in the past week, while panic selling has increased trading volume up 24% to over $598 million.

Dogwifhat (WIF), the Solana-based meme, has fared no better.

WIF has tumbled to $0.8010, down 11% in the past 24 hours.

Meanwhile, its trading volume has spiked 102% to over $256 million amid the broader altcoin weakness.

Whale sell-offs have aided bears, with the price 83% off its all-time high of $4.85.

Pepe (PEPE), the Ethereum frog-themed memecoin, also continues its slide into bearish territory.

The memecoin is consolidating near $0.0000097 after plummeting 10% over the past day.

Large sellers have pushed daily volume up by 133% to $889 million.

What’s next for memecoins?

Is the crypto market crashing a sign of more pain ahead of Uptober? Analysts say this is likely.

In the short term, the memecoin rout is symptomatic of a larger crypto market contraction, where total capitalisation has dipped below $4 trillion amid Bitcoin and Ethereum’s price crash.

A confluence of several factors is at play as stocks also shed gains on Monday.

Headwinds impacting the risk asset markets include macroeconomic factors such as Fed policy, trade and inflation dynamics.

The upcoming data release on Friday will be key, as will be the anticipated ETF approvals in the coming weeks.

A market where BTC again rallies will open up a path for memecoins amid crypto’s cyclical outlook.

The post Pump.fun, dogwifhat and Pepe plummet as top memecoins crash appeared first on CoinJournal.

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AgriFORCE to rebrand as AVAX One in $550M bet on Avalanche Network

  • The firm will become AVAX One and focus on accumulating Avalanche tokens.
  • AgriFORCE aims to become the first publicly listed AVAX-centred entity.
  • Institutional interest signals confidence in Avalanche’s future.

Nasdaq-listed AgriFORCE Growing System has announced a historic pivot into the blockchain sector.

According to Monday’s press release, the firm will change its name to AVAX One and raise roughly $550 million to fund Avalanche accumulation.

AVAX One plans to hold Avalanche tokens worth over $700 million, becoming the first publicly listed company dedicated to purchasing AVAX.

The move has gained attention as it marks AgriFORCE’s significant departure from the agriculture sector.

It reflects the firm’s confidence in blockchain as a disruptive force across various industries.

Commenting on this new development, AgriFORCE’s CEO Jolie Khan says:

For the first time, our company provides public market investors with a professionally-managed vehicle to invest directly in this transformation. Our mission is to maximize our ownership of this foundational technology, AVAX, on a per-share basis, delivering direct value to our shareholders as this new economy grows.

Avalanche grabs institutional interest

The Layer 1 has gained traction as a top platform for institutions interested in blockchain.

Avalanche boasts security with over $6.2 billion in staked assets.

Also, leading firms such as Apollo, JPMorgan Chase, and KKR are already using the AVAX network to launch custom blockchain solutions and tokenized products.

Avalanche boasts faster transaction speeds, low costs, and high scalability, features that are crucial for RWA tokenization and DeFi.

Such perks have increased the blockchain’s institutional appeal.

The $550 million bet

The firm plans a massive capital raise led by Hivemine Capital and participation from more than 50 investors, including Cypher Capital, Republic Digital, Kraken, Digital Currency Group, ParaFi, and Galaxy Digital.

The raise will include $250 million in equity-linked financing and $300 million PIPE (subject to stakeholder approval).

Hivemind Capital founder Matt Zhang said the firm plans a short- and long-term approach:

Our near-term active strategy will focus on disciplined asset accumulation and, in the long run, acquiring and onboarding cash-flowing fintech businesses onto the Avalanche network. This creates a powerful growth flywheel and sustained NAV premium that differentiates ourselves from all other digital asset treasury companies and ETFs.

AVAX One will use the raised capital to support its goal of owning AVAX worth more than $700 million.

AVAX price outlook

Avalanche’s native token maintained a bearish outlook today.

It is trading at $31.43 after losing over 4% of its value in the past 24 hours.

AVAX remains bullish after gaining 10% and 20% in the past week and month.

The altcoin trades within the key breakout level between $30 and $31.

Reclaiming $36 could support short-term rallies to $42 and flip AVAX’s near-term trajectory to bullish.

However, losing the foothold at $28 might postpone the imminent rally.

Broad market sentiments will determine Avalanche’s price actions in the coming sessions.

Meanwhile, emerging institutional interest positions the AVAX project for massive growth in the coming times.

The post AgriFORCE to rebrand as AVAX One in $550M bet on Avalanche Network appeared first on CoinJournal.

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Binance launches rewards program for Ethena’s USDe stablecoin with 12% APR

  • The limited-time promotion offers 12% APR.
  • Users should hold at least 0.01 USDe for a day to qualify.
  • Participants will receive their incentives weekly.

Binance has announced an incentives program for Ethena’s stablecoin, offering users a lucrative opportunity to earn returns by holding USDe.

The official announcement details how the platform will calculate the rewards, distribution, and participation requirements.

Notably, Binance confirmed a limited-time promotion to sweeten the deal, offering eligible holders a 12% APR (annual percentage rate).

During the Promotion Period, users who hold a minimum of 0.01 USDe in their Binance account(s) for at least 24 hours will be eligible to earn rewards at the increased 12% APR.

The one-month promotion runs between September 22 and October 21, and could see stablecoin enthusiasts interact with one of the highest passive-earning opportunities.

Understanding Ethena’s stablecoin

Ethena’s USDe has seen massive traction lately. It remains unique from established projects like USDT and USDC in different ways.

USDe isn’t a fiat-backed asset. While USDT and USDC are dollar-pegged, Ethena’s is a digital dollar leveraging special strategies and crypto backing for stability.

USDe leverages delta-hedged positions in stable assets, including BTC and ETH.

Also, it has attracted attention due to its yield-bearing features, allowing individuals to earn from their idle stablecoins.

USDe has quickly dominated the spotlight as the top non-fiat-backed USD-denominated cryptocurrency.

DeFiLlama data shows it boasts over $14.076 billion in circulating supply, and around $14.104 billion in market cap.

Binance’s push for user engagement

The USDe incentive program reflects Binance’s dedication to attracting and retaining users through passive income.

With yield-bearing assets gaining traction, the exchange is positioning itself as a leading platform for lucrative earnings.

Meanwhile, USDe holders will take the promotion as an opportunity to earn from the balances with minimal effort.

The move also signals Binance’s conviction in Ethena’s future and growing influence with DeFi and CeFi.

Binance’s USDe rewards

The rewards are straightforward and aim to incentivize loyal holders, and not speculators.

Individuals start earning automatically once they hold more than 0.01 USDe in Funding, Margin, or Spot accounts.

Users will enjoy 8% APR, but the figure remains at 12% APR during the 1-month promotion period.

Meanwhile, the exchange will take multiple snapshots during the day to determine minimum balances and guarantee fair calculations.

How to qualify

Holding USDe is the only requirement.

Users can purchase the stablecoin through the Spot market and enjoy fee-free USDE-USDT through December 22.

Users with small and massive balances can leverage Binance’s USDe earn program, as there’s no limit on holdings.

However, it’s crucial to check your region’s eligibility.

Binance has cautioned that individuals in restricted areas like Canada, the EU, Japan, the US, and Australia cannot participate.

Ethena’s native coin trades at $0.6017 after losing 8% in the past day amid the broader market bloodbath.

The post Binance launches rewards program for Ethena’s USDe stablecoin with 12% APR appeared first on CoinJournal.

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Aave price slides 10% as bearish momentum sweeps crypto

  • Aave dropped 10% in the past 24 hours, signalling strong bearish control.
  • On-chain data shows increased net outflows and spiking intraday volume, indicating panic selling by traders.
  • The $265–$250 range is critical, with a potential further decline to $225 if support fails.

Aave, a leading decentralized finance token, has seen its price drop to $250 as the cryptocurrency market experiences significant price swings.

Increasing bearish momentum has driven significant selling pressure, with Bitcoin and Ethereum at key levels.

Aave price slides to $250

Aave’s price has dropped sharply to $250, breaking below the critical $270–$265 support zone in a decline that marks a significant retreat from its recent highs near $300.

The token now trades well below its key exponential moving averages and is down 25% in the past 30 days.

On-chain data reveals substantial outflows, with netflows showing $11.26 million in exchange movements.

This kind of outlook signals panic-driven selling among traders.

For AAVE, the immediate support range of $245–$250 is now critical, with a potential further slide to $229 if this level fails to hold.

Despite the launch of Aave’s v4 upgrade, which introduced a cross-chain Hub-and-Spoke design, the token has struggled to maintain bullish momentum.

Trading volume has increased 159% in the past 24 hours to $593 million. Although volume is up, the price decline reflects waning retail interest.

Aave price drops as bearish momentum deepens

The deepening bearish momentum in Aave’s price action reflects broader market challenges and technical breakdowns.

The Relative Strength Index has fallen to 20.9, indicating heavily oversold conditions, though no immediate reversal has materialised.

Aave’s market capitalisation has dropped to approximately $3.9 billion, reflecting its underperformance compared to other DeFi tokens.

The crypto market has experienced setbacks, with reduced expectations for a Federal Reserve rate cut dampening demand for high-risk assets.

Aave price chart by TradingView

Large holders have reduced positions, with wallets holding 100,000 to 1 million AAVE cutting their stakes by 4.3%, as some analysts suggest that the oversold RSI could trigger a short-term relief rally.

The failure to reclaim the $289–$292 range keeps the near-term outlook negative if selling pressure persists, as Aave risks testing the $2220 support level.

AAVE bulls last saw these levels in early June 2025.

Broader market outlook

Bitcoin and Ethereum’s declines highlighted a sharp descent for most alts.

Some of the top coins by market cap, like Solana, XRP and Dogecoin, shed recent gains.

Aave’s decline to $250 and the mounting bearish momentum highlight the broader pressure on crypto and other risk assets following sharp gains in recent months.

DeFi tokens, which surged alongside Ethereum’s run to record highs, are now facing renewed selling pressure in the current environment.

Analysts are warning that September could see further downside, with expectations of deeper pullbacks if sentiment continues to sour.

The post Aave price slides 10% as bearish momentum sweeps crypto appeared first on CoinJournal.