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Crypto And US Stocks Crises? Gary Gensler’s Leaked Memo Hints
Market experts have always warned about a potential crypto and US stock crisis, however, a leaked memo from the US SEC regulator shows Gary Gensler might agree to this notion. Caitlin Long, the CEO of Custodia Bank blew open the memo that suggests the Commission tried to downplay current market crisis.
Does Gary Gensler Know What We Don’t?
The internal memo from the United States Securities and Exchange Commission (SEC) shows a part of Chairman Gensler’s planned speech. As first shared on X by Bank Reg Blog, the commission mistakenly uploaded its own internal memo online.
In the document, the Chairman appeared to be talking about assessing some market strategies and see their efficacy. The speech sounded like Gensler’s as he noted that he has worked as both a regulator and as a professional in the capital markets. This arguably gives him the leverage to address the identified concerns.
What the crypto community is now shining the beam on is on an earlier paragraph. Here, it was “strongly recommended” that the US SEC Chair make a sentence to show that his speech does not mean “there is an imminent crisis.”
This advise has sparked speculations that shows the market might have more turmoil than meets the eye. While the signs are there, the US stock market flashed recession signs again over the weekend, further shedding light on the Gary Gensler speech.
Known as a strong advocate for a safe market, the US SEC Chair has lost trust among many in the crypto market. Based on the speech leak, it remains unclear whether the regulator will still proceed with the version of the leaked document or not. For now, the Commission has redacted the document on its website.
Potential US SEC Restructuring Ahead
Gary Gensler took over the leadership of the commission from Jay Clayton and inherited the now concluded Ripple versus SEC lawsuit. Despite the criticism on how this legal battle started, Gensler expanded its scope before the latest $125 million penalty levied on Ripple.
Despite the pat in the back he has received from Democrat Politicians, Donald Trump plans to fire the SEC Chairman if he wins re-election. However, this remain a long-stretch as the coming election remains open despite the Polymarket stats for both Trump and Kamala Harris.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Amid a highly turbulent crypto market witnessed as the week kicks off, a super Pepe Coin whale shifted focus to EIGEN has sparked significant market discussions. Notably, on-chain data pointed out a massive 130 billion PEPE whale selloff, with the investor simultaneously diversifying his portfolio by buying over 200K of the Ethereum-based token.
This swap of positions, amid a slumping action witnessed by the meme coin and a gaining action seen by the EigenLayer ecosystem token, set off waves of speculations over the coins’ future tendencies.
Super Pepe Coin Whale Refocuses Investments, Buys EIGEN
According to whale data by Spot On Chain as of November 25, a super whale sold 74.07 billion in Pepe Coin worth $1.53 million for 448.1 ETH as the price dropped recently. The same whale was recorded offloading 130.2 billion of the meme coin, worth $2.71 million, for 891 ETH over the past three days. Although this massive selling caused market tension, it’s noteworthy that the super whale still holds 3.241 trillion Pepe Coin, with a 12.6x profit of $68.3 million.
However, the same whale also focused on buying EIGEN, swapping 181.3 ETH for 217,348 of the Ethereum-based token over the past two days. The whale currently holds 1.608 million of the EigenLayer token, worth $4.31 million, with an 11% profit. Overall, the trade swap sparked significant optimism over the EigenLayer ecosystem’s primary token, while market watchers monitor the leading meme coin closely.
PEPE & EIGEN Prices Show Mixed Actions
While the meme coin’s price slipped, aligning with the selloff by super Pepe Coin whale, the Ethereum-based coin rose, leveraging buying pressure. PEPE price was down 2% intraday and 5% weekly, trading at $0.00002026. Its 24-hour low and high were $0.00001918 and $0.00002086, respectively.
Whereas, EIGEN price soared nearly 7% intraday and 23% weekly, reaching $3.06. The coin’s 24-hour low and high were $2.56 and $3.07, respectively. While crypto market participants remain optimistic about the Ethereum-based token in light of the massive accumulation, the remaining massive PEPE holdings add a layer of intrigue to the leading meme coin’s price action ahead.
Intriguingly, a recent Pepe coin price analysis by CoinGape Media flagged that the meme coin eyes a $0.000025 target, with significant potential upside for further momentum. This optimistic projection comes against the backdrop of bullish technical formations on the frog-themed crypto’s price chart. Market watchers continue to eye both coins for future price action shifts as the broader market continues to showcase price fluxes.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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The crypto prices today have triggered global investor speculations as Bitcoin (BTC) and major altcoins showed weakening price trends. Meanwhile, The Sandbox (SAND) and Decentraland (MANA) emerged as top gainers. The selloff is likely due to Bitcoin pullback.
The global crypto market value dropped 2% to $3.3 trillion, while total market volume declined 5%, now at $200 billion. Crypto market sentiment dropped to 82 ‘extreme greed’ from 94 last week.
Here’s a quick snapshot of the top cryptocurrencies by market cap and their price movements today, November 25.
Crypto Prices Today: BTC, ETH, SOL, and XRP Drop
Today, the BTC price dropped significantly, briefly hitting $96,000. Similarly, ETH, SOL, and XRP mirrored the trend with declining action. SAND and MANA emerged as the top gainers.
Bitcoin Price Today
BTC prices dropped over 1% in the past 24 hours, currently trading at $97,601. The 24-hour low and high were $95,788 and $98,546, respectively. BTC’s total market cap stands at $1.93 trillion, with a 24-hour trading volume of $52 billion and a market dominance of 58.16%.
Veteran trader Peter Brandt predicted a BTC selloff ahead despite remaining overall optimistic about BTC’s long-term trajectory, sparking market discussions.
Ethereum Price Today
ETH price plunged nearly 3%, currently trading at $3,344. Its 24-hour low and high are $3,288 and $3,435, respectively. With a market cap of $402 billion and a 24-hour trading volume of $28 billion, ETH holds a 12% market dominance, ranking as the second-largest cryptocurrency by market cap.
Solana Price Today
SOL price dropped nearly 4%, currently trading at $250. Its 24-hour low and high are $243 and $259, respectively. With a market cap of $118 billion and a 24-hour trading volume of $5.33 billion, SOL holds a market dominance of 3.58%, ranking as the fourth-largest cryptocurrency by market cap.
XRP Price Today
XRP crypto prices fell by 7% today and currently trading at $1.38. Its 24-hour low and high are $1.30 and $1.49, respectively. With a market cap of $78 billion and a 24-hour trading volume of $12 billion, XRP holds a market dominance of 2.4%, ranking as the 6th largest cryptocurrency by market cap. Moreover, Ripple the company behind XRP, revealed a blueprint to defeat Gary Gensler’s war on crypto.
Meme Coins Performance Today
DOGE price dropped nearly 6% in the last 24 hours, currently trading at $0.4199. Its 24-hour low and high are $0.40 and $0.44, respectively. DOGE has a market cap of $61 billion and a 24-hour trading volume of $11.4 billion.
Similarly, SHIB Inu (SHIB) is currently trading at $0.00002529, down 7% in the last 24 hours. Its 24-hour low and high are $0.00002441 and $0.00002714, respectively. SHIB has a market cap of $15 billion and a 24-hour trading volume of $1.90 billion.
Meanwhile, PEPE, BONK, and FLOKI have all declined by almost 6% to 12% amid the massive liquidation.
Top Crypto Gainer Prices Today
The Sandbox
SAND price surged by 70% in the past 24 hours, currently trading at $0.83. Its 24-hour low and high are $0.51 and $0.84, respectively. Trading volume has shot up by 650%, indicating massive buying.
Decentraland
MANA is trading at $0.75, up by 30% in the past 24 hours. Its 24-hour low and high are $0.5592 and $0.7574, respectively.
Axis Infinity
AXS is trading at $8.50, with a 16% increase in the last 24 hours. Its 24-hour low and high are $7.187 and $8.909, respectively.
Top Crypto Loser Prices Today
Stellar
XLM is trading at $0.52, down by 16% in the last 24 hours. Its 24-hour low and high are $0.44 and $0.58, respectively.
Algorand
ALGO is trading at $0.27, with an 11% decline in the last 24 hours. Its 24-hour low and high are $0.2568 and $0.3262, respectively.
Hedera
HBAR is down by 10%, currently trading at $0.1412. Its 24-hour low and high are $0.1365 and $0.1547, respectively. Trading volume is down 50%.
Besides the hourly time frame, charts indicate that BTC and ETH are recovering, showing positive momentum. SAND price continues to jump higher. Overall, the market outlook appears bullish, which could be encouraging for investors. Crypto prices today reflect this shift, with BTC and ETH, starting to regain strength, signaling potential growth in the coming days.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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In the last few days, the bulls have taken over the crypto market, where many tokens have gained new highs, including the failing ones Hamster Kombat and X Empire. With the Bitcoin price nearing $100K, these failing Tap-to-earn tokens have also met with the bulls, aiding in their recoveries. However, the question still stands the same. Which one fits right in crypto investors’ portfolios for November end?
Analyzing The Hamster Kombat Price Performance
Hamster Kombat has been a part of the crypto industry for the last one and a half months, which is quite short for this token to show its full potential. It is more challenging, especially with a bad start, which has destroyed its image in the crypto market. The token fell right after its launch due to the HMSTR airdrop and the controversy around the distribution system. As a result, it is 54% down from its listing price of $0.008585 and reached the bottom at $0.002257 around 20 days ago.
However, the token jumped big with the Donald Trump win-induced crypto rally on November 9. At that time, the HMSTR price jumped from $0.002577 to $0.005761 within 24 hours, but the downtrend followed soon, leading to a few days-long drop until recently. With the bitcoin price surging to a new ATH at $99.6, the HMSTR price has surged 8%, currently at $0.003951. Additionally, its 51% in the trading volume to $88.34M indicates that the investor’s interest is returning to the token.
Analyzing the X Empire Price Performance
The X price performance is no different from the Hamster Kombat price, as it has faced multiple ups and downs since its launch a month ago. The token entered the crypto market with a listing price of $0.00005348, but it has surged significantly, achieving an ATH of $0.00058 on November 9. However, it failed to continue the rally ahead and entered a downtrend, losing 62% value from the ATH. Interestingly, after an 8% surge in the last 24 hours, it is now valued at $0.0002191, with a market capitalization of $151.07M.
Interestingly, compared to HMSTR, its demand is higher, as the trading volume is at $205.73M after a 6% surge in the last 24 hours. This came after its X Empire rally to an ATH, which has brought back investors’ interest. More importantly, season 2 is likely to increase its demand even higher.
Hamster Kombat Vs X Empire & Where To Invest In November End?
Despite a bad start, both the tokens have attempted recovery in the last few days. However, X Empire is leading the race, especially with its ATH rally. With its 174% growth since its launch, it has beaten HMSTR, which is down by 54%. However, their performance is highly disappointing, considering the demand for both tap-to-earn games. Instead of achieving the $1 target, as expected from the player before the token launch, they had followed a constant downtrend and consolidation with minor recoveries here and there. As a result, there are certain doubts about their future performance. So, investors should analyze the trend and run a deep technical analysis before investing in them for November-end returns.
Pooja Khardia
With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.
As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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