Schlagwort: blockchain markets

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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.

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South Korea sees record surge in suspicious crypto transactions in 2025

  • Hwanchigi remittances remain the largest driver of suspicious cases.
  • Stablecoins, especially Tether, are used in cross-border laundering schemes.
  • Lawmakers push for tighter monitoring and global cooperation.

South Korea has reported a dramatic rise in suspicious cryptocurrency transactions in 2025, signalling deepening concerns over money laundering and cross-border crime.

According to data from the Financial Intelligence Unit (FIU), domestic exchanges filed 36,684 suspicious transaction reports (STRs) between January and August. This already surpasses the combined totals of the previous two years.

Authorities say much of the increase stems from illegal foreign remittance activities, known locally as “hwanchigi”, where digital assets are used to bypass capital controls and funnel money abroad.

The surge highlights how crypto crime has rapidly evolved into a systemic issue for regulators.

Suspicious transactions hit historic highs

The growth in flagged transactions has accelerated in recent years. In 2021, only 199 cases were reported. By 2022, this surged to nearly 18,000, followed by 16,076 in 2023.

The 2024 total doubled that figure, but the 2025 data for August has already set a new record.

The Korea Customs Service (KCS) referred ₩9.56 trillion ($7.1 billion) in crypto-linked crimes to prosecutors between 2021 and August 2025.

More than 90% of these cases were tied to hwanchigi-related laundering activities, where crypto is used as an intermediary to disguise and reroute funds.

Officials note that exchanges are filing STRs at unprecedented levels, showing both increased surveillance and higher levels of suspicious activity.

Stablecoins linked to global transfers

Regulators have increasingly flagged stablecoins as a key tool in illicit cross-border transactions. Stablecoins are designed to mirror fiat currencies and are often used for faster settlement. However, their role in foreign exchange crimes has become more visible.

In May 2025, customs officials exposed a case involving ₩57.1 billion ($42 million) moved between South Korea and Russia using Tether (USDT).

The investigation found two Russian nationals had completed more than 6,000 illegal transfers between 2023 and 2024. Such cases show how stablecoins can be exploited to sidestep financial restrictions, including sanctions and capital controls.

Experts highlighted this risk, pointing to the growing use of stablecoins in the real economy and their vulnerability to criminal misuse.

The South Korean parliament has urged agencies to scale up monitoring to prevent disguised remittances and to trace criminal funds more effectively.

Lawmakers demand stronger measures

South Korean lawmakers have pressed for tougher enforcement mechanisms, particularly against new types of foreign exchange crimes linked to crypto.

Calls have been made for the FIU and KCS to expand coordination, enhance transaction monitoring, and tighten compliance requirements for exchanges.

Authorities are also exploring ways to strengthen cooperation with international regulators. With hwanchigi cases often involving foreign intermediaries and platforms, officials stress the need for global partnerships to limit cross-border laundering.

Discussions focus on enhancing information sharing and creating stricter frameworks for reporting suspicious stablecoin transactions.

A global regulatory challenge

The scale of South Korea’s STR filings mirrors similar concerns elsewhere. The European Union has introduced its Markets in Crypto-Assets (MiCA) framework, which sets limits on stablecoin transaction volumes and mandates compliance checks to prevent financial crime.

Meanwhile, central banks in the UK and Europe have considered introducing transaction caps on digital currencies to reduce illicit flows.

South Korea’s data underscores how regulators worldwide are grappling with the same issue: how to balance innovation in digital payments with financial integrity.

With crypto adoption rising, the challenge for policymakers remains preventing misuse without stifling legitimate use of the technology.

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Avantis price forecast: bullish momentum builds after recent sell-offs dip

  • Avantis (AVNT) rebounds from $2.16 dip as buyers regain control above support.
  • Recent exchange listings and airdrops fueled volatility and profit-taking.
  • Holding $2.40 may open the path to $2.55–$2.68 for Avantis.

Avantis (AVNT) has staged a notable rebound after a brief sell-off that followed a rapid climb from its early-September lows to a new all-time high (ATH) in hours.

However, prices remain volatile, although signs of renewed buying pressure are emerging as investors and traders reposition.

A quick rebound after the dip

AVNT experienced a sharp downturn after intense profit-taking, with prices slipping to around $2.16.

The decline came only days after the token touched its all-time high of $2.64, marking a steep but short-lived correction.

Within hours, however, buyers returned to the market and lifted the token back above $2.18, where it found immediate support.

The quick recovery is notable because it suggests that demand for the token has not faded even after such an aggressive rally.

At the time of writing, AVNT was trading at $2.21, supported by a market capitalisation of over $570 million and a 24-hour trading volume of more than $6.8 billion.

Such elevated turnover highlights just how actively the token is being traded, and reinforces the view that Avantis has become one of the busiest names on both centralised and decentralised platforms.

The market structure is setting up for a retest of higher resistance levels, with short-term targets now sitting at $2.55 and $2.68.

If bulls can push through these zones, the rally could regain momentum.

Conversely, $2.10 remains the key support, and holding that floor is vital for keeping bullish momentum intact.

Listings and airdrops stoke volatility

Exchange listings have been a critical catalyst for Avantis over the past two weeks.

The multiple listings, including the Binance listing on September 15, triggered a wave of excitement, sending the token surging by 67% in a single day.

The listings were accompanied by extraordinary activity, with more than half a million trades executed in the first hour of listing. Daily trading volume spiked nearly 95% to over $7 billion, confirming that speculative flows had entered in force.

Yet this level of excitement often invites a “buy the rumour, sell the news” effect.

Shortly after the initial pump, traders began taking profits, and the price gave back a portion of its gains.

Compounding this, Binance also distributed 10 million AVNT tokens through its HODLer airdrop on September 16, increasing the circulating supply.

Airdrops frequently create short-term selling pressure as recipients lock in quick profits, and this event was no exception.

Other exchanges, including MEXC, also completed promotional airdrop campaigns in mid-September, adding more liquidity to the market and amplifying volatility.

This mix of heightened visibility from listings and sudden supply from airdrops created an unstable near-term trading environment.

While such dynamics can unsettle investors, they are also a natural feature of early-stage markets where growth and speculation collide.

AVNT price analysis shows overbought choppiness

On the technical front, Avantis had been flashing warning signs even before the correction.

Its seven-day Relative Strength Index (RSI) recently climbed to 92, an extremely overbought reading that usually signals exhaustion in momentum-driven rallies.

Historically, readings above 70 suggest a market ripe for a pause or a pullback. That AVNT climbed above 90 underscored just how stretched the market had become after its rapid ascent from under $0.20 on September 9.

And sure to the RSI’s oversold hint, the token had to let off some pressure by pulling back.

But despite this, AVNT continues to trade above its seven-day simple moving average of $1.34, which indicates that the broader uptrend is still intact.

Traders are now focused on whether the token can maintain higher lows and consolidate before attempting another breakout.

The $2.09 pivot level is especially significant. A decisive break below that threshold could unleash further selling pressure, while stability above it would reassure buyers and strengthen the case for another push higher.

Traders should also monitor the RSI to see if it cools toward more sustainable levels below 70.

Such a move would indicate that the token has shaken off the froth of its parabolic run and could be ready for steadier, healthier growth in the sessions ahead.

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Ethena looks to gain as Mega Matrix scoops $6m ENA for treasury strategy

  • Ethena price hovered near $0.70 amid overall crypto market wobbles on Friday.
  • Mega Matrix announced it acquired $6 million of ENA for its treasury strategy.
  • Analysts see scope for ENA to approach the $1 mark in the coming weeks as bulls regain control.

Digital asset treasury moves have been the talk of Wall Street for a while now, and the latest cryptocurrency to attract notable investment is Ethena (ENA).

On Friday, Singapore-based short-video streaming operator Mega Matrix announced its institutional foray into the DAT ecosystem with a $6 million scoop of ENA tokens.

While the news came amid an overall crypto downturn, ENA price remained near a key level of $0.70.

Mega Matrix buys $6 million ENA for treasury

Mega Matrix announced in a press release that it has completed a $6 million purchase of ENA tokens.

The company said the move reflects its commitment to a diversified treasury approach focused on stablecoin governance assets, with the Ethena token positioned as a central element of its “DAT Strategy.”

“Following our launch of MPU’s Stablecoin Governance Token Treasury Reserve (DAT) strategy, we have further expanded our holdings of $ENA and will continue executing weekly accumulations based on market conditions, strengthening our commitment to building the premier treasury reserve for stablecoin governance tokens,” Mega Matrix management said in a statement.

According to the announcement, the purchase was executed over several weeks through open-market transactions on major exchanges, allowing Mega Matrix to build its position without disrupting market dynamics.

Mega Matrix said it has acquired a total of 8.46 million ENA tokens at an average purchase price of $0.7165 per token.

The company noted that holding ENA provides potential governance influence along with exposure to staking rewards and protocol fees, aligning with the broader objectives of its DAT strategy to optimise treasury yields in digital asset markets.

ENA price forecast: Why else is Ethena bullish?

With a market capitalization of $4.6 billion, Ethena now ranks among the top 50 cryptocurrencies.

Backed by endorsements from established entities, the token is drawing attention similar to other leading altcoins such as BNB, XRP and Solana — a trend that could support further adoption of Ethena and similar projects.

Other than the crypto treasury bets spree, Ethena’s bullish outlook stems from several interlocking factors, including a leading role in the stablecoin market.

Ethena’s USDe stablecoin has surged to more than $14 billion in circulating supply, underscoring strong demand from investors seeking dollar-denominated returns via DeFi strategies such as delta-hedging and staking.

Broader market dynamics, including improving regulatory clarity and ETF approvals, are also contributing to the bullish outlook.

At the same time, Ethena’s open-market ENA buybacks and whale accumulations are reinforcing sentiment.

With momentum building, analysts see scope for ENA to approach the $1 mark in the coming weeks as bulls regain control.

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Dogecoin and XRP ETFs draw massive volume on first day of trading

  • New US ETFs for Dogecoin and XRP debut with $54.7M trading volume.

  • XRP ETF leads with $37.7M, biggest day-one of any 2025 ETF launch.

  • Dogecoin ETF hits $17M, far above initial forecasts of $2.5M.

The first US-listed exchange-traded funds tied to Dogecoin and XRP debuted Thursday with far heavier demand than expected, posting a combined $54.7 million in trading volume.

Bloomberg ETF analyst Eric Balchunas noted that most new ETFs average about $1 million in first-day activity.

“No slouch,” he wrote on X, calling the funds’ debut “a good sign for the onslaught” of pending crypto ETFs awaiting regulatory approval.

Issuers have submitted multiple applications for crypto ETFs, including those linked to speculative altcoins and products incorporating mechanisms such as staking.

XRP ETF posts record opening

The REX-Osprey XRP ETF (XRPR) saw $37.7 million in volume, according to Cboe data, marking the biggest first day for any ETF launch in 2025.

Within its first 90 minutes of trading, XRPR had already taken in $24 million.

“That is way more than I would have thought,” Balchunas said, noting it was five times higher than the debut volume of XRP futures ETFs.

Dogecoin ETF beats forecasts

The REX-Osprey DOGE ETF (DOJE) also surprised, finishing the session with $17 million in trades.

Balchunas had initially expected only $2.5 million in volume, a level he said would have been “respectable but nothing too special.”

Instead, DOJE’s performance put it among the top five ETF debuts of more than 700 launches this year.

Regulatory structure and outlook

Both funds were launched under the Investment Company Act of 1940, rather than the Securities Act of 1933, used by last year’s Bitcoin and Ether ETFs.

The “40 Act” framework allows for faster approval — 75 days compared to 240 — but imposes restrictions on holdings.

XRPR and DOJE do not directly own crypto.

Instead, they invest in a Cayman Islands subsidiary that holds digital assets, along with stakes in European and Canadian exchange-traded products that track the coins’ prices.

The strong start comes as issuers await approval for dozens of other crypto ETFs, including altcoin-focused products and funds tied to staking.

The Securities and Exchange Commission this week approved new ETF listing standards that could accelerate the pipeline.

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