Ah, the crypto market, that whimsical carnival of digital dreams, has once again succumbed to a tempest of selling frenzy over the weekend, all thanks to the ever-volatile Trump and his tariff tantrums. Altcoins, those mischievous little rascals, are leading today’s crypto catastrophe, with illustrious names like Ethereum (ETH), XRP, Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) tumbling down the rabbit hole by a staggering 5 to 7% in the last 24 hours. According to the oracle of Coinglass, liquidations have soared to a jaw-dropping $600 million, with $500 million in long liquidation and a mere $98 million in short liquidation—because who doesn’t love a good liquidation party? 🎉
Bitcoin, that granddaddy of cryptocurrencies, took a nosedive on Friday, plummeting from a dizzying high of $111,200 to a mere whisper above $107,000. All this drama, of course, is courtesy of President Trump’s latest threats of a 50% tariff on the European Union, which has sent market sentiment spiraling into the abyss. Who knew tariffs could be so thrilling? 😅
This little hiccup comes right after Bitcoin flirted with fresh highs above $111,500, buoyed by ETF inflows, stablecoin legislation progress, and a surge in institutional buying. Yet, alas, these supportive factors have proven as effective as a chocolate teapot in shielding altcoins, which remain under the relentless pressure of the market’s whims. In a rather prophetic Telegram message, Haiyang Ru, co-CEO of HashKey Group, mused:
“Bitcoin reaching a new all-time high also carries altcoins toward a bullish direction. But if BTC’s volatility picks up again, traders may rotate into regulated stablecoins — especially with new frameworks in the U.S. and Hong Kong easing that transition.”
Will Ethereum Bounce Back to Kickstart Altcoin Season Again?
The global macro uncertainty has once again gripped the crypto market like a vice, as tariff tensions escalate and US Treasury yields have surged to a staggering 4.5%. Altcoins like Ethereum are poised to play a pivotal role in determining the future trajectory, especially after a dazzling 50% upside over the past month. Who doesn’t love a good rollercoaster ride? 🎢
Ethereum (ETH) staged a valiant rally earlier this week, reaching $2,700, only to face a partial pullback and now trading under $2,600. For a sustained upside, the ETH price must gallantly cross the $2,900 mark, lest it remain a mere shadow of its former self.
Former BitMEX CEO Arthur Hayes, with the confidence of a fortune teller, predicted a significant altcoin season this summer, with Ethereum expected to outshine Solana in the upcoming rally. Because, of course, we all need a little drama in our lives!
According to Hayes, this altcoin season will be a far cry from 2021, when nearly every cryptocurrency surged by 100x. Instead, we may witness a more selective and measured rally this time—because who doesn’t love a good game of musical chairs? 🎶
Solaxy ($SOLX) Presale Gains Momentum
As Solana solidifies its position in the crypto ecosystem, Solaxy ($SOLX) is making waves like a rock star at a concert, presenting itself as an innovative blockchain solution designed to enhance Solana’s performance and scalability. Talk about a glow-up!
Solaxy tackles those pesky issues like network congestion, scalability bottlenecks, and transaction failures during peak activity periods. By processing transactions off-chain and bundling them into optimized batches for final settlement on Solana’s mainnet, Solaxy aims to improve transaction reliability and network efficiency. Because who doesn’t want their transactions to be as smooth as butter? 🧈
SOLX Presale and Tokenomics
To support early investors, Solaxy has launched a presale of its native token, SOLX, offering a competitive 103% APY for staking. Yes, you read that right—103%! Who knew crypto could be so generous?
Presale Highlights:
- Token Price: $0.001732
- Funds Raised: $39.1 million
- Payment Options: Crypto, Card
- Ticker: SOLX
Post-presale, the SOLX token will be deployed across multiple chains, enabling participants to bridge their holdings to the SOLAXY Layer 2 blockchain. Because why not add a little more complexity to our lives? 😜
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2025-05-24 20:55