First Mover Americas: PEPE Peaks After Binance Listing
The latest price moves in bitcoin (BTC) and crypto markets in context for May 4, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Markets
Meme Coin Trading Volume Surges to Two-Year High, Signals Caution for Bitcoin Bulls
Speculative mania in meme coins has historically presaged bearish reversals in bitcoin.
Crypto Options Exchange Deribit’s Ether Volatility Index Hits Record Low
Deribit’s forward-looking ether volatility index (ETH DVOL) hit lifetime lows over the weekend. Expectations for price turbulence appear underpriced considering the lingering macroeconomic uncertainties.
Pepecoin’s Bewildering Rise Turned a Pittance Into an Almost 5,000,000% Meme Coin Profit
A pseudonymous crypto trader bought trillions of the meme coin three weeks ago on UniSwap for $263, and still holds about $9 million of PEPE after selling several million dollars worth, according to data from blockchain platform Arkham.
First Mover Americas: Meme Coin PEPE Surges to $1B Market Cap
The latest price moves in bitcoin (BTC) and crypto markets in context for May 4, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
U.S. Adds 253K Jobs in April, Topping Expectations for 180K; Bitcoin Falls
The unemployment rate rose/fell//head steady at 3.X% versus forecasts for a slight rise to 3.6%.
U.S. Regulatory Crackdown Sees Institutional Investors Prefer Gold to Bitcoin: JPMorgan
This year’s 76% bitcoin rally appears to have been driven by retail buying, the report said.
Bitcoin Chalks Out ‘Head and Shoulders’ Pattern Ahead of U.S. Nonfarm Payrolls: Valkyrie Investments
Although not classically meeting the textbook criteria of a head and shoulders, price action since March 19 has painted an extreme high with flanking lower highs, Valkyrie’s analysts said.
Ethereum Gas Fee Surges to 12-Month High as PEPE Frenzy Grips Market
Users pay the fees, measured in fractions of ether known as GWEI, to execute transactions on the smart contract blockchain.
Pepe Coin Shorters Lose Millions as PEPE Jumps to $900M Valuation
The market capitalization for the tokens jumped to nearly $900 million as the frenzy seems neverending.