Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Pseudonymous millionaire crypto trader Unipcs has taken a $15 million hit in what he called the most "brutal" liquidation in crypto history. What Happened: Unipcs reported roughly $15 million wiped out just before liquidation as his positions in Bonk (CRYPTO: BONK), Fartcoin (CRYPTO: FARTCOIN) got wiped out. His spot holdings remained largely intact, Unipcs said, explaining that while Bitcoin (CRYPTO: BTC) ...

Group 1 - Bitcoin dominance is currently at 57.79% and is expected to decrease further, despite experts predicting a rise in Bitcoin prices to new highs this year [1][6] - Following a recent Federal Open Markets Committee meeting, Bitcoin's price increased by 1% and reached a peak just below $118,000, marking its highest price in over a month [2][3] - Analysts forecast Bitcoin prices could reach between $140,000 and $145,000 by year-end, driven by rate cuts and a shift of funds into Bitcoin as a safe haven amid expectations of USD devaluation [3] Group 2 - Short-term trends indicate a rotation of traders into altcoins, particularly ahead of anticipated SEC approvals for various crypto ETFs, which may temporarily affect Bitcoin dominance [4] - Notable altcoins like XRP and BNB have seen significant price increases, with XRP rising 3% to $3.12 and BNB climbing about 5% to $996, setting a new all-time high above $1,000 [4] - Solana has experienced a substantial increase of almost 6% in the past day, reaching $248, and has risen 35% over the last month, largely due to corporate treasury purchases [5] Group 3 - Users on the Myriad prediction market are bearish on Bitcoin dominance, with 53% believing it will drop to 53% before potentially recovering to 63% [6] - The last time Bitcoin dominance was at 63% was in mid-July, coinciding with Bitcoin's previous all-time high above $112,000 [6]

Group 1 - The REX-Osprey's DOJE ETF is set to begin trading on September 12, marking a significant milestone for cryptocurrency investors in the U.S. as it will be the first clear XRP fund under the Investment Company Act of 1940 [1][2] - The ETF has achieved "post-effective" status after a 75-day review by the SEC, indicating no issues were found [2] - The launch of this ETF is closely monitored by investors, who are interested in its implications for XRP's price, future ETF filings, and the overall movement towards regulated digital asset exposure [3] Group 2 - The ETF will be traded on a regulated U.S. stock exchange, providing a different investment structure compared to directly purchasing XRP or Dogecoin on exchanges [4][7] - Investors can buy the ETF through various brokerage accounts, such as Robinhood, E*TRADE, or TD Ameritrade, without needing a crypto wallet or exchange account [4][7] - The ETF will have its own ticker symbol, with "DOJE" designated for the REX-Osprey, allowing investors to easily track and trade the fund [8]

Core Insights - A prominent millionaire meme coin trader believes that the recent bounce in meme coins is just the beginning, with an "explosive parabolic move" expected soon [1][4] - The trader, Unipcs, has a current position in Fartcoin (CRYPTO: FARTCOIN) with a profit and loss (PnL) of approximately $4.3 million, down from a peak of over $8 million [2][3] - Unipcs plans to hold his positions until they surpass $10 million in value, focusing on undervalued assets and maintaining conviction in his strategy [3][5] Profit and Loss Analysis - In June, Unipcs reported an unrealized profit of $4.5 million, which has slightly decreased to around $4.3 million today [2] - The PnL has remained around the $4 million mark for the past few months, not accounting for nearly $933,000 already paid in funding [3] Market Outlook - Unipcs anticipates a parabolic rally in meme coins, particularly those within the Solana (CRYPTO: SOL) ecosystem [3] - He emphasizes a long-term investment strategy, contrasting with short-term or volatility-driven trading approaches [5] Investment Focus - Unipcs's conviction picks include Fartcoin, Useless, and Bonk (CRYPTO: BONK), while he notably excludes Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) from his list [6]

Core Insights - SOL reached $219, with Forward Industries raising $1.65 billion, indicating a significant liquidity influx for Solana and its ecosystem [1][4] - Bitcoin increased by 3% to $113K, influenced by weak U.S. jobs data, which also positively impacted Solana's performance [2] - Solana's ecosystem market cap grew by 4% to $283 billion, with trading volume at $26 billion [3] Market Developments - Forward Industries completed a record treasury deal, raising $1.65 billion in cash and stablecoins, supported by major firms like Galaxy Digital and Jump Crypto, leading to a 128% surge in its share price [4] - Solana's performance improved with SOL rising 8% to $219, aided by Gemini's launch of Solana staking and USDC perpetuals in Europe [6] - SOL Strategies became the first Solana treasury approved for Nasdaq listing, trading under the ticker STKE, while Galaxy Digital tokenized its SEC-registered shares on Solana [7] DeFi Insights - Solana's total value locked (TVL) in DeFi increased by 6% to $12.2 billion, previously reaching an all-time high of $14.4 billion [10] - Weekly DEX volume for Solana decreased by 14%, while the 30-day cumulative volume reached $124 billion [11]

Group 1 - Bitcoin has dropped below $110,000, currently around $108,000, raising concerns about a potential fall below $100,000 [2][4] - The recent PCE data release did not alleviate market pessimism, with a significant number of liquidations occurring, totaling $462 million, including $344 million in long positions [1] - The Fear and Greed Index has fallen to 40, indicating a state of fear in the market, despite Bitcoin holding above $100,000 and Ethereum above $4,000 [1] Group 2 - Ethereum's recent performance has weakened, with current resistance around $4,300, and the focus is on whether it can regain and stabilize above this level [4][6] - The macroeconomic outlook suggests a likely interest rate cut in September, supported by slowing economic indicators such as employment and consumer spending [6] - The Federal Reserve's approach indicates a willingness to cut rates even if inflation does not drop below 2%, as long as inflation growth stabilizes [6] Group 3 - The recent positive news for Bonk has led to a rise in several lesser-known cryptocurrencies, indicating competitive dynamics within the market [7] - The Pump project has seen a significant buyback of transaction fees, suggesting potential for future price increases, although current market conditions are challenging [7] - The ongoing discussions about which blockchain to watch, including Binance Chain, Solana, X Chain, and Ethereum, reflect the competitive landscape in the cryptocurrency sector [8]

Useless 1B 见Bonk 是真海外核心圈？Kraken、Binance US、Coinbase 轮着上Coinbase Assets 🛡️ (@CoinbaseAssets):Assets added to the roadmap today: Useless Coin (USELESS)https://t.co/rRB9d3hSr2 ...

Group 1: Cryptocurrency Market Analysis - Bitcoin has recently broken through the key resistance level of $116,000, forming a potential double bottom structure, indicating a strong technical pattern [1] - Ethereum has formed a somewhat irregular W bottom pattern, with indicators suggesting a high probability of continued upward movement and new highs in the coming week [3][5] - Ethereum's price has surged from $4066 to $4220, with the potential to turn the previous resistance of $4112 into a support level [5] Group 2: Investment Opportunities - Solana is currently undervalued in the market, with on-chain transaction volumes comparable to Ethereum, despite its market cap being significantly lower [8] - Two major catalysts for Solana include upcoming micro-strategies aiming to raise substantial funds for investment and a high probability of approval for a spot ETF [10][11] - The ideal entry points for Solana are around $158 and $130, with potential for significant returns as the market is expected to rebound [14] Group 3: Economic Indicators and Federal Reserve Impact - The upcoming CPI inflation data is a significant variable that may affect the Federal Reserve's decision on interest rate cuts in September, with expectations of a 0.1% increase in both CPI and core CPI [22] - Despite potential inflation concerns, the likelihood of the Federal Reserve canceling the September rate cut remains low due to previous labor market weaknesses [24] - Historical patterns suggest that economic downturns often follow periods of interest rate hikes, raising concerns about potential recession risks in the coming year [24][25]

Binance Wallet Updates - Binance Wallet推出SAS交易模型，旨在增强资金安全性，提供更流畅的交易体验 [1] - Pro模式新增一键卖出双倍仓位一半的功能 [1] - Meme Rush更新，现在支持Bonk和Launchlab [1]

Group 1 - The cryptocurrency market is experiencing a complex ecosystem, with Bitcoin down 3% and Dogecoin down 8%, reflecting a division between those who view Bitcoin as unstable and those who are engaged in meme coin trading [1][6] - Bitcoin's price movement shows a contradictory picture, with a 3% short-term decline but a 5% increase over the past 30 days, indicating relative stability [3][4] - The Federal Reserve's decision to maintain interest rates adds to the uncertainty in the market, affecting the dual nature of Bitcoin as both a safe haven and a risk asset [3][4] Group 2 - Technical indicators for Bitcoin show an RSI drop to 63 and an ADX of 28, suggesting potential for a trend reversal [4] - The meme coin market, particularly Dogecoin, is highly volatile, with an 8% drop making it the worst performer among the top ten cryptocurrencies [6][9] - XRP is showing a stable performance with an RSI of 61 and an ADX of 21, contrasting with the volatility of Bitcoin and meme coins [7][9] Group 3 - The XBIT decentralized exchange platform offers tools for traders to analyze market correlations and make informed decisions [3][9] - The platform's innovative matching technology and community-driven governance model enhance user engagement and create unique user loyalty [9]