Altcoins today: WLFI dips after debut, BGB rallies on new utility, MemeCore enters top 100 – Crypto News – Crypto News
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Altcoins today: WLFI dips after debut, BGB rallies on new utility, MemeCore enters top 100 – Crypto News

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5 months ago

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  • WLFI plunges on its first trading day amid profit-taking.
  • BGB leads upside as it gains more roles in the Morpho network.
  • MemeCore broke into the top 100 after significant gains in the past few sessions.

Cryptocurrencies displayed mixed performances on Tuesday, with top tokens stable amid uncertainty.

As usual, a lot is happening in the sector today.

This article evaluates three projects that are making waves fundamentally and technically. Let’s find out more.

World Liberty Financial’s new WLFI token led the downside, losing more than 14% on its 24-hour chart after its closely-watched September 1 trading debut.

MemeCore has entered the top 100 digital assets’ list by market cap following remarkable rallies, fueled by strategic collaborations and whale accumulation.

Moreover, BGB soared after Bitget hinted at more governance and gas use cases for the native coin within the Morpho blockchain. Here are more details.

WLFI fails to keep pace after strong debut

World Liberty Financial opened its governance token, WLFI, for trading on September 1.

It dominated crypto forums and social media trends, with early investors celebrating staggering returns.

However, the bullish party didn’t last. WLFI jumped to $0.33 highs after going live.

However, selling pressure from unlocks holders triggered substantial price declines in the past 24 hours.

WLFI is trading at $0.2397 after losing more than 14% of its value within a day.

Its market cap has plunged from above $9.4 billion to $6.55 billion, ranking #33 on Coingecko.

Some investors and traders are already counting massive losses.

For example, Andrew Tate lost $67.5K early today after selling pressure liquidated his long position.

He executed another long position, possibly signaling confidence in the alt’s rebound if not revenge trading.

BGB rallies as new use cases spark bullish momentum

Bitget’s native token stole the show with sharp rallies today.

BGB trades at $5.26 after gaining more than 15% on its daily chart.

The upside stance coincides with a new collaboration between Bitget and L2 payment platform Morph to reshape BGB’s role within the market.

The exchange confirmed it would move the entire 440 million team-held BGB assets to the Morpho Foundation, which will handle all future developments linked to the native coin.

Effectively, BGB will land new utilities as Morpho’s governance and gas token.

That positions the altcoin for increased adoption in the payment sector.

The official announcement highlighted:

Bitget plans to transfer all BGB tokens held by its team to the Morpho Foundation, and the Morpho chain will adopt BGB as its gas and governance token, driving the prosperity of the Morpho ecosystem.

MemeCore joins the top 100 cryptos

MemeCore has grabbed attention after its remarkable rally into the top 100 digital assets by market value.

M price hovers at $0.8369, ranking 93rd on Coingecko with its $1.39 billion market capitalization.

Strategic collaborations, whale purchases, and liquidity events fueled the upside.

The primary catalyst came from the partnership with token launcher D-Pump.

The alliance promises technical support, market expansion, and ecosystem interconnection, themes that resonate with market players seeking the next viral crypto.

Also, MemeCore’s MemeX liquidity event injected around $5.7 million into ME’s ecosystem.

Liquidity providers and traders joined, catalyzing short squeezes that propelled the upswing.

Moreover, Nansen data shows intensified whale activity, with dip-pocketed players accumulating more than 51.9 million MemeCore tokens last month.

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