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Why are memecoins up today?

Memecoins are up today and have strongly outperformed the entire crypto market over the last month.

The recent recovery in cryptocurrency prices has seen the largest market caps memecoins like Dogecoin (DOGE), Shiba Inu (SHIB), and Dogwifhat (WIF) record double-digit gains over the past month. 

First Neiro on Ethereum (NEIRO), a new memecoin deployed on the Ethereum network in late July, rallied the most, gaining over 3,330% over the last 30 days and 63% over the past week. It has added 13% to its value over the last 24 hours. Popcat (POPCAT) followed with a 137% monthly gain, and Mog Coin (MOG) came in third after climbing 102% in the same period.

Performance of top meme tokens by market capitalization. Source: CoinMarketCap

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SUI charts 115% monthly gain as its ecosystem memecoins rally after USDC integration

SUI gained 115% in a month after integrating USDC into its blockchain, which resulted in a parabolic surge in user and network activity.

Sui (SUI) price continues to rally on Oct. 4, gaining 115% over the past 30 days. 

Data from Cointelegraph Markets Pro and TradingView shows SUI rose from a low of $0.742 on Sept. 2, climbing as much as 170% to a six-month high of $2, just 8.8% shy of its $2.18 all-time high reached on March 27.

SUI/USD daily chart. Source: TradingView

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Drop in Bitcoin dominance and bullish altcoin market structure have traders predicting altseason 

Analysts believe that a new altcoin season is entering its early stages. Cointelegraph digs into the data.

Altcoins have displayed strength following Bitcoin’s recent recovery over the past month. This has lead analysts to suggest that the market might be on the brink of an altcoin season.

“The past few days have been very bullish for many #Altcoins!” ParabolicPump, co-founder of Crypto Capital, said in a Sept. 23 post on X. 

Popular trader 360Trader observed that TOTAL3, the total crypto market capitalization excluding BTC and ETH,  had retested the upper boundary of a falling channel. 

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Ethereum gains 15% in a week — Is a recovery to $3K back in sight?  

Ethereum shows strength in its USD and BTC pair as network activity surges. Is a move to $3,000 realistic? 

Ether (ETH) rallied 18.7% between Sept. 17 and Sept. 23, pushing past Bitcoin (BTC) in terms of weekly gains as an increase in open interest, funding rates and network growth signal strong demand for ETH.

Ether’s price is up 4% over the last 24 hours to trade at $2,650, according to data from Cointelegraph Markets Pro and TradingView. In comparison, Bitcoin is trading at $63,678, up 1.8% over the last 24 hours. The total crypto market capitalization has risen by 2% over the same period to $2.3 trillion. 

Ether has increased 17.5% over the last seven days, outperforming Bitcoin, whose price has risen only 9.8% over the same period. 

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Bingx Resumes ‘Mainstream’ Asset Withdrawals 24 Hours After Hack

Bingx Resumes ‘Mainstream’ Asset Withdrawals 24 Hours After HackBingx said it has resumed withdrawals for “mainstream” cryptocurrencies including bitcoin, tether and ethereum among others. However, the exchange has warned of potential delays due to security reviews. The crypto exchange said it will gradually restore withdrawal services for other cryptocurrencies but has canceled pending requests. The exchange’s chief product officer expressed concern about the […]

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Computer Scientist: China’s Crypto Crackdown Spurred Decentralization of Asia’s Web3 Infrastructure

Computer Scientist: China’s Crypto Crackdown Spurred Decentralization of Asia’s Web3 InfrastructureSangmin Seo, chairman of the Kaia DLT Foundation, asserts that China’s crackdown on the crypto industry, which led to its loss of dominance in bitcoin mining, has resulted in the decentralization of Asia’s crypto infrastructure. He adds that the rapid development of the Asian market outside of China has further solidified the region’s position as […]

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Bitcoin rally above short-term holder metric has traders calling for new BTC price highs

Bitcoin’s recent rally put its price above a key bull market metric. Are new highs inbound?

Bitcoin (BTC) rallied above $62,000 on Sept. 19, rising above its short-term holder (STH) realized price and showing potential for further gains, according to onchain data. 

The STH realized price is a metric that calculates the average price at which short-term investors—those who have held their coins for less than 155 days–have purchased their Bitcoin. It acts as support in uptrends because these holders are more likely to buy if the price rises above their entry point.

CryptoQuant analyst Avocado_onchain explains that STH realized price “has consistently acted as a critical support and resistance level” for Bitcoin.

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Chainlink’s Sergey Nazarov predicts asset tokenization will transform Web3

Trillions of dollars will flow into Web3 once the details of the Internet of Contracts are worked out.

The value of tokenized real-world assets (RWA) will exceed that of cryptocurrencies on Web3 in the next few years, Chainlink co-founder Sergey Nazarov said in his keynote presentation at TOKEN2049 in Singapore on Sept. 18. That surge of value flowing from traditional finance (TradFi) will drastically alter the nature of the blockchain industry.

“This is the role I think we should all be preparing for. […] TradFi will be the largest customer of DeFi [decentralized finance],” Nazarov said. Chainlink’s Cross-Chain Interoperability Protocol (CCIP) may have a crucial role to play in an emerging Internet of Contracts that will link central bank digital currency, asset chains, consortium chains and public blockchains, he added.

The Chainlink oracle network “already powers the majority of DeFi,” having enabled $15.49 trillion in transaction value since 2022, Nazarov said. For TradFi to use blockchain technology, it needs access to a variety of types of data, including live data, “to make TradFi smart contracts function properly.”

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Crypto and commodities poised for massive rally, says market analyst

According to Michael van de Poppe, an upcoming surge in global liquidity, fueled by debt refinancing, could trigger the next Bitcoin bull run.

A notable market analyst believes the cryptocurrency and commodities markets could both be ahead of a parabolic rally.

This is because both crypto assets and commodities remain “extremely undervalued,” according to analyst and entrepreneur Michaël van de Poppe.

The analyst noted in a September 15 post on X that commodities were last valued at similar levels in 2000 and 1971.

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USDC issuer Circle announces HQ move to New York ahead of IPO

2025 could bring stablecoins into the mainstream, after 2024 introduced a "turning point year in crypto," according to Circle's Allaire.

Stablecoin issuer Circle is moving its global headquarters to New York City, ahead of the firm’s planned Initial Public Offering (IPO).

Circle, the issuer of the world’s second-largest stablecoin USDC (USDC), is moving into “one of the top floors of 1 World Trade Center.”

The move was announced by Jeremy Allaire, the co-founder and CEO of Circle, who wrote in a Sept. 13 X post:

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