Cryptocurrencies Price Prediction: Ethereum, Dogwifhat & Cryptos — Asian Wrap July 08
|Ethereum records another day of heavy liquidations as Mt. Gox bearish pressure persists
Ethereum (ETH) is down nearly 5% on Friday following the Mt. Gox BTC repayment, sparking more than $108 million in ETH liquidations. The repayment's supply strengthened the bearish momentum on Bitcoin, which spiraled into altcoins like ETH.
WIF and BONK post gains amid wider market drawdown
Solana meme coins dogwifhat (WIF) and BONK surprisingly stood out as outliers on Friday, posting gains of 7% and 2% despite the bloodbath across tokens in the meme coin sector.
APT, XAI, and IMX: Could these three token unlocks lead to further decline?
The crypto market will see a new wave of token unlocks in the coming weeks, with Aptos (APT), XAI, and Immutable (IMX) set to flood the market with $161 million worth of new supply. However, with these tokens currently experiencing drawbacks following the market's bearish outlook, the unlock event may spur further price drops.
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