# Crypto Markets Fight Back

*Author: Bankless*
*Published: Aug 8, 2024*
*Source: https://www.bankless.com/crypto-markets-fight-back*

---

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/08/Group-639--3-.png)](https://www.bankless.com/sponsor/kraken-1682978636?ref=how-to-short-solana-memecoins&email=true)

  

Crypto Markets Fight Back
    
  

  
  Published on Aug 8, 2024

[
  
  View in Browser

](https://bankless.com/read/briefs)
 

---
[**Sponsor: Kraken**](https://www.bankless.com/sponsor/kraken-1682978636?ref=how-to-short-solana-memecoins&email=true) — *Sign up for an account and see what crypto can be. *

[Sign up for Kraken](https://www.bankless.com/sponsor/kraken-1682978636?ref=how-to-short-solana-memecoins&email=true)

.  .  .

 
  
    
      
      NEED TO KNOW
    
    
  
  
    
FTX Ordered to Pay $12.7B
  

  

 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/08/Group-14--88-.png)](https://www.bankless.com/dashboard)- 💸 **FTX & Alameda Ordered to Pay $12.7B to Customers.** The order [bans both firms](https://www.bankless.com/ftx-alameda-ordered-to-pay-12-7b-to-customers) from further trading of digital assets.
- 📈** XRP Pumps As Ripple Trial Ends with $125M Fine. **The SEC's planned mega-fine was [slashed considerably](https://www.bankless.com/xrp-pumps-as-ripple-trial-ends-with-125m-fine) by a federal judge.
- 👾** Blast's Top Memecoin Abandons the Chain for Solana.** Pacmoon is [migrating chains](https://www.bankless.com/blasts-top-memecoin-abandons-the-chain-for-solana), upset with Blast's team over a lack of support.
[](https://www.bankless.com/uniswap-extension-browser)

.  .  .

 
  
    

    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

 

       ![](https://banklesspublic.b-cdn.net/cmc.png)
    

  **Crypto**
   
          $2.12T
       

 
    
    ↗ 8.3%
    
    
  

  
    
    ↘8.2%
    
  

       ![](https://banklesspublic.b-cdn.net/btc.png)
    

  **BTC**
   
          $60,835
       

  
    
    ↗ 9.8%
    
    
  

  
    
    ↘6.2%
    
  

       ![](https://banklesspublic.b-cdn.net/eth.png)
    

  **ETH**
   
          $2,627
       

  
    
    ↗ 11.4%
  

   
    
    ↘17.2%
    
  
  

       ![](https://s2.coinmarketcap.com/static/img/coins/64x64/29270.png)
    

  **AERO**
   
          $0.72

       

  
    
    ↗ 12.0%
    
  

   
    
    ↘10.7%
    
  

  

---
🔒**New Token Rating: Aerodrome** is the largest DEX on Base and boasts strong revenues. Is AERO a buy even amid the downturn? [Unlock AERO on Token Hub](https://www.bankless.com/tools/token-hub/aerodrome)

.  .  .

 
  
    

TACTIC

  
  
    
   
How to Short Solana Memecoins
  
   
     
     Bankless Author: 
     
       [
       
       William M. Peaster](https://x.com/WPeaster)
     
    
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/08/image---2024-08-08T173925.375.png)](https://www.bankless.com/how-to-short-solana-memecoins)It's been a volatile week for crypto, and traders have been busy – **even memecoin traders.**

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* 👇

[Read the Tactic](https://www.bankless.com/how-to-short-solana-memecoins)
---