Bull Market Facing Possible End: Top 5 Losers in the Crypto Market

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by Giorgi Kostiuk

2 years ago

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| Indices | LTP | Change (%) | | --- | --- | --- | | Aptos | $14.94 | 16.32% | | Axelar | $1.74 | 15.14% | | Pendle | $4.85 | 15.00% | | Dogwifhat | $3.76 | 14.05% | | Bitcoin SV | $85.30 | 13.36% |

Key Highlights of Recent Crypto News:

  • A 25-year prison sentence with strict conditions has been given to FTX Founder, Sam Bankman-Fried, for various fraud charges. The penalty includes mental health treatment, financial monitoring, and asset forfeiture but does not involve direct victim restitution.
  • Deribit, a major crypto derivatives exchange, has obtained a Virtual Asset Service Provider license from Dubai's VARA, signaling a significant step forward. The exchange plans to move its headquarters to Dubai under the leadership of Luuk Strijers, aligning with Dubai's growing influence in the crypto industry.
  • BNB Chain has allocated $1 million to incentivize memecoin developers as part of their "Meme Innovation Campaign." This move aims to support the growth of meme tokens and follows the trend of promoting memecoin development seen in other networks like Avalanche.
  • Recent market fluctuations affected meme coins like Dogecoin and Shiba Inu, causing a downturn. However, some coins such as MEW, BOME, and MEME showed resilience and saw gains, particularly benefiting from the increased interest in Solana meme coins.
  • OpenAI has made ChatGPT3.5 more accessible by removing the account requirement, although it no longer stores chat history. This change has raised concerns about data privacy, prompting developers to explore alternative models. Despite facing stiff competition, OpenAI introduces Iris, an AI teacher, to assist with education in Kerala, India.
  • Bitcoin spot ETFs experienced outflows of $85.84 million as BTC's price dropped below $67,000, with Grayscale’s GBTC leading the trend. Meanwhile, BlackRock’s IBIT and Fidelity’s FBTC recorded inflows of $165 million and $43.99 million, respectively. Despite the correction in BTC price, there is optimism surrounding Ethereum ETFs, although the SEC has postponed decisions on their approval.

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