# Is Everything Cooked?

*Author: Bankless*
*Published: Aug 5, 2024*
*Source: https://www.bankless.com/is-everything-cooked*

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[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/08/Group-647-1-1.png)](https://www.bankless.com/sponsor/kraken-1682978636?ref=things-are-not-fine&email=true)

  

Is Everything Cooked?
    
  

  
  Published on Aug 5, 2024

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  View in Browser

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

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[**Sponsor: Kraken**](https://www.bankless.com/sponsor/kraken-1682978636?ref=things-are-not-fine&email=true) — *Sign up for an account and see what crypto can be. *

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.  .  .

 
  
    
      
      NEED TO KNOW
    
    
  
  
    
Crypto Crash
  

  

 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/08/Group-14--84-.png)](https://www.bankless.com/dashboard)- 🫨 **Crypto Markets Reeling as Investors Panic.** Bitcoin and Ethereum are getting hit hard as global markets falter.
[*Read more on Bankless.com*](https://www.bankless.com/crypto-markets-reeling-as-investors-panic)
- 🤦‍♀️ **Sen. Warren Pushes CFTC to Finalize Ban on Political Betting. **The top crypto critic takes aim at Polymarket and other prediction markets.
[*Read more on Bankless.com*](https://www.bankless.com/warren-polymarket)
- ☹️** Solana Memecoins Tumble Amid Broader Crypto Sell-Off.** Solana's cycle-leading memecoin sector is crashing hard.
[*Read more on Bankless.com*](https://www.bankless.com/solana-memecoin-selloff)
[](https://www.bankless.com/uniswap-extension-browser)

.  .  .

 
  
    

    MARKET VIBES

  
  

  ETH Free Fall
  
   
     
   
     
    
 

**📸 Daily Market Snapshot: **Crypto markets were dealt stunning losses in quick succession Sunday as ETH entered free fall and BTC and Alts later followed. Today, as the damage has cleared, ETH is still down 26% week-over-week, now resting below a $300B market cap – far from the post-ETF revelry most investors planned for. 

Prices as of 5pm ET
24hr
7d

 

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

  **Crypto**
   
          $1.91T
       

 
    
    ↘8.3%
    
    
  

  
    
    ↘20.7%
    
  

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

  **BTC**
   
          $54,601
       

  
    
    ↘7.4%
  

   
    
    ↘18.8%
    
  

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

  **ETH**
   
          $2,437
       

  
    
    ↘11.2%
    
  

   
    
    ↘26.5%
    
  
  

       ![](https://s2.coinmarketcap.com/static/img/coins/64x64/3773.png)
    

  **FET**
   
          $0.80

       

  
    
    ↘15.9%
    
  

   
    
    ↘34.8%
    
  

  

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🔒**New Token Rating: **The Artificial Superintelligence Alliance, trading under the ticker **FET**, achieved a $6B valuation in May. How do we feel about this token’s future prospects?[Unlock FET on Token Hub](https://www.bankless.com/tools/token-hub/artificial-superintelligence-alliance)

.  .  .

 
  
    

ANALYSIS

  
  
    
   
Things Are Not Fine
  
  
   
     
     Bankless Author: 
     
       [
       
       Jack Inabinet](https://x.com/JackInabinet)
     
    
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/08/image---2024-08-05T164530.739.png)](https://www.bankless.com/things-are-not-fine)Last week, you could have been forgiven for taking a rosy outlook on markets, but this morning, investors around the globe have found themselves gripped with panic, leading many bulls to reassess their prior convictions.

**Is it time to alter yours?**

*See why investors are feeling so bearish right now *👇

[Read the Analysis](https://www.bankless.com/things-are-not-fine)
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