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Crypto Markets Fight Back
Published on Aug 8, 2024

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NEED TO KNOW
FTX Ordered to Pay $12.7B
  1. 💸 FTX & Alameda Ordered to Pay $12.7B to Customers. The order bans both firms from further trading of digital assets.
  2. 📈 XRP Pumps As Ripple Trial Ends with $125M Fine. The SEC's planned mega-fine was slashed considerably by a federal judge.
  3. 👾 Blast's Top Memecoin Abandons the Chain for Solana. Pacmoon Pacmoon is migrating chains, upset with Blast's team over a lack of support.

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MARKET VIBES
Crypto Fights Back

📸 Daily Market Snapshot: Wall Street rebuked bears on Thursday, with indexes gaining big off of investor fervor over declining jobless claims. Crypto popped, with BTC reclaiming $60K and ETH pushing above $2,600. Both assets were still down on the week, yet are up considerably off of the week's brutal lows.

Prices as of 6pm ET 24hr 7d
Crypto $2.12T ↗ 8.3% ↘8.2%
BTC $60,835 ↗ 9.8% ↘6.2%
ETH $2,627 ↗ 11.4% ↘17.2%
AERO $0.72 ↗ 12.0% ↘10.7%

🔒
New Token Rating: Aerodrome is the largest DEX on Base Base and boasts strong revenues. Is AERO a buy even amid the downturn?
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TACTIC
How to Short Solana Solana Memecoins
Bankless Author: William M. Peaster

It's been a volatile week for crypto, and traders have been busy – even memecoin traders.

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Dumpy.fun lets you short memecoins to potentially profit from their price declines. In other words, users select a memecoin they believe will drop in value and can apply leverage to increase potential returns, though this also increases risk. Underneath the hood, the platform borrows assets via Save and swaps them using Jupiter, the popular Solana DEX aggregator.

Here's how to get started 👇


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Not financial or tax advice. Bankless content is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time we may add links in this newsletter to products we use. We may receive commission if you make a purchase through one of these links. Additionally, the Bankless team hold crypto assets. See our investment disclosures here.

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Not financial or tax advice. Bankless content is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time we may add links in this newsletter to products we use. We may receive commission if you make a purchase through one of these links. Additionally, the Bankless team hold crypto assets. See our investment disclosures here.

This site is protected by reCAPTCHA.

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