{"id":298115,"date":"2024-05-08T23:29:12","date_gmt":"2024-05-08T17:59:12","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=298115"},"modified":"2024-05-08T23:29:12","modified_gmt":"2024-05-08T17:59:12","slug":"crypto-markets-give-up-previous-weeks-gains-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/crypto-markets-give-up-previous-weeks-gains-crypto-news\/","title":{"rendered":"Crypto Markets Give Up Previous Week’s Gains – Crypto News"},"content":{"rendered":"

<\/p>\n

Solana broke its three-day winning streak, dropping by almost 6% on the day.<\/p>\n

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Crypto markets dipped on Wednesday, with most tokens surrendering the majority of their gains from last week’s rally.<\/p>\n

Bitcoin (BTC), the world’s largest cryptocurrency, is currently trading at around $62,500, down nearly 2% over the last 24 hours. Ether (ETH) dropped 1.4%, while Dogecoin (DOGE) dipped by 4%.<\/p>\n

BTC Price<\/figcaption><\/figure>\n

J. A. Maartunn, a contributor to the on-chain analytics platform CryptoQuant, warned <\/a>that for Bitcoin, any daily close below $62,100 \u201cor prolonged inactivity counts as a stop-loss.\u201d<\/p>\n

Meanwhile, Michael van de Poppe, founder and CEO of trading firm MNTrading, expressed <\/a>frustration at the lacklustre price action since Bitcoin’s halving in mid-April. \u201cBitcoin slowly proceeds towards the lower boundaries of the range for a test of support,\u201d he said. \u201cAfter that, it seems likely we\u2019ll continue the upward grind. Boredom has started since the Bitcoin halving took place.\u201d<\/p>\n

Solana\u2019s three-day winning streak appears to be over, with SOL dropping by more than 5%.<\/p>\n

Data from DefiLlama shows that Solana’s TVL on Wednesday stood at 26.92 million SOL, marking the lowest point in the month, as compared to 28.22 million SOL the day before. The drop also came after its four-hour Relative Strength Index (RSI) surpassed 70, entering overbought territory.<\/p>\n

\"SOL
SOL Price<\/figcaption><\/figure>\n

Data from CoinGlass shows that in the past 24 hours, over 63,000 leveraged traders were liquidated for a total of $140 million.<\/p>\n

FTX Payouts<\/h2>\n

FTX, the bankrupt cryptocurrency exchange, has put forth a new reorganization <\/a>plan. If approved by the Delaware bankruptcy court, 98% of its creditors could receive 118% of their claims in cash within 60 days.<\/p>\n

Additionally, non-government creditors would get back 100% of their claims along with up to 9% interest.<\/p>\n

Ethena’s governance token ENA surged on Tuesday following the announcement <\/a>of Bybit’s integration of the protocol’s USDe synthetic dollar for expanded trading activities. ENA hit a two-week high at $0.96 before retreating.<\/p>\n

Stock markets are consolidating following the blue-chip average’s longest winning streak since December.<\/p>\n

The Dow Jones Industrial Average slipped less than 0.1%, while the S&P 500 and Nasdaq 100 dropped by about 0.2%.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Solana broke its three-day winning streak, dropping by almost 6% on the day. Crypto markets dipped on Wednesday, with most tokens surrendering the majority of their gains from last week’s rally. Bitcoin (BTC), the world’s largest cryptocurrency, is currently trading at around $62,500, down nearly 2% over the last 24 hours. Ether (ETH) dropped 1.4%, […]<\/p>\n","protected":false},"author":2,"featured_media":298116,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-298115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/298115","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=298115"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/298115\/revisions"}],"predecessor-version":[{"id":298118,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/298115\/revisions\/298118"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/298116"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=298115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=298115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=298115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}