fxs_header_sponsor_anchor

Cryptocurrencies Price Prediction: Ordinals, FTX & Cryptos– American Wrap 7 November

Ordinals-based meme coin rallies 40% after Binance listing

Bitcoin-based DeFi protocol Ordinals made headlines in the past couple of months and has since become a rather familiar name among traders and investors. This familiarity seems to have been accidentally exploited by a token listed on Binance, which resulted in a meme coin rally on Tuesday.

Lawyers handling the FTX bankruptcy case are considering offers that could eventually lead to a relaunch of the troubled exchange.

At an Oct. 24 hearing of the United States Bankruptcy Court in the District of Delaware, Kevin Cofsky of Perella Weinberg Partners revealed he is negotiating with several parties interested in purchasing the company.

Dogecoin, Shiba Inu and Bonk Open Interest spikes, outshining Bitcoin

Meme coins in the crypto ecosystem, Dogecoin (DOGE), Shiba Inu (SHIB) and Bonk (BONK) noted spikes in their open interest in the 24-hour period between November 6 and 7. This metric indicates that the risk appetite of traders has increased as meme coins are typically considered riskier bets than large market capitalization assets like Bitcoin and Ethereum.
 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.