Crypto Prices Pump Despite Bearish News, Solana Up 14%, Thug Life Presale Hits $100,000

Historically, buyers anticipate a big decline in cryptocurrency costs when damaging press emerges within the blockchain or finance business. Nevertheless, the latest market response deviated from this expectation. Surprisingly, as a substitute of witnessing a large value dump, the market skilled a wholesome pump in some outstanding altcoins equivalent to Solana.

Ongoing presales of fashionable meme tokens like Thug Life additionally managed to attain outstanding success by elevating a powerful quantity of $100,000, regardless of the market turmoil brought on by this damaging press. This has apparently left the investing citizenry in good spirits, with many anticipating an excellent chunk of funding to hit the markets very shortly.

Bearish Information within the Crypto Business

There’s a fixed concern of fast value dumps at any time when main firms determine to announce main modifications. One such growth was the favored dealer Robinhood’s determination to delist three of the preferred cryptocurrencies- Matic, Cardano and Solana.

Robinhood made an announcement on its platform stating that it will be discontinuing help for Cardano (ADA), Polygon (MATIC), and Solana (SOL) ranging from June twenty seventh, 2023. Switch help for these three cryptocurrencies already ceased on June twenty sixth, 2023. Nevertheless, Robinhood reassured its customers that none of their different cryptocurrencies can be affected by this variation, implying that buying and selling and help for different digital belongings on the platform would stay unaffected.

A number of Twitter customers, together with the favored crypto influencer @Tristan0x, expressed considerations concerning Robinhood’s actions, suggesting that the platform was promoting substantial reserves of SOL. Based on @Tristan0x, inside a 12-hour timeframe, Soar, the cryptocurrency division of Robinhood, transferred roughly $3.9 million price of SOL tokens to the Binance and Coinbase crypto exchanges.

Robinhood liquidating about 1M of $SOL ($15M USD) deposits by way of Soar.

Over the past 12hrs Soar have been sending in mixture:– 162k to Coinbase ($2.6M)– 84k to Binance ($1.3M)

Remaining 692k $SOL ($11M) ready on the sidelines to be unwinded. Put together accordingly 🙂 pic.twitter.com/RpJoV07ddn

— Tristan (@Tristan0x) June 28, 2023

The influencer additional claimed that there have been plans to switch round $15 million price of SOL tokens between these prime crypto exchanges. These observations and statements had already raised suspicions amongst Twitter customers about Robinhood’s actions and the potential affect on SOL’s market dynamics. The change, nevertheless, later justified its actions by stating that the Securities and Change Fee (SEC) had unilaterally categorized the belongings (ADA, MATIC, SOL) as securities after which it couldn’t legally help the belongings on its platform.

Moreover, there are expectations of a sell-off from Celsius, which might additional pressure the general business because it entails the fixed promoting of great quantities of crypto. Regardless of these developments, the costs of cryptocurrencies, significantly the highest ones, managed to both keep their earlier vary and even expertise value good points.

Solana Pumps Amidst the Robinhood Incident

Opposite to expectations, Robinhood’s switch of crypto didn’t end in a downward pattern for Solana’s value. As a substitute, the venture skilled a notable pump, and at a fast tempo. Inside a single day, Solana’s value surged by greater than 15%, which was fairly spectacular, particularly for buyers who had beforehand made substantial investments in SOL. This surprising value improve caught the eye of the web neighborhood, additional highlighting the unpredictable nature of cryptocurrency markets.

Inside a short span of some hours, the token’s value escalated from $16.2 to over $18, prompting additional shopping for exercise earlier than a subsequent correction befell. On the time of writing, SOL is being traded round $18, with a market capitalization surpassing $7 billion. Apparently, a number of different DeFi tasks additionally skilled important value will increase. The absence of quick antagonistic repercussions following Robinhood’s determination means that the information might not affect SOL as negatively as one would usually anticipate.

Thug Life Presale Hits $100,000

Thug Life has entered the cryptocurrency market with a singular method that capitalizes on the viral recognition of meme cash. The meme venture has managed to align itself as a singular providing by aligning its design with the timeless Thug Life motion, which gained fame by hip-hop legends. This naturally struck a chord with a number of music lovers and meme coin lovers, which propelled the token presale to boost a whopping $100k inside only a few days.

The token goals to mix nostalgia and humour whereas providing a platform for resilience, catering to people who’re uninterested in being lured into nugatory tasks by paid influencers. Paradoxically, this too was picked up by some fashionable people within the crypto area and endorsed as a high-potential venture. Thug Life’s web site and Twitter account prominently characteristic Snoop Dogg’s imagery, resulting in hypothesis a couple of potential collaboration with the famend rapper.

Regardless of no official announcement of a partnership, the door appears to stay open for potential collaboration between Snoop Dogg and Thug Life attributable to his earlier involvement within the crypto market. Snoop Dogg has proven curiosity and engagement in numerous NFT and metaverse tasks, making him a sexy candidate for a partnership that might convey heightened visibility and credibility to Thug Life.

Presently, Thug Life’s native token, THUG, is obtainable for buy at a reduced value of $0.0007. Given the present market situations and the latest enthusiasm surrounding fashionable meme cash, investing in THUG may very well be a profitable alternative for these seeking to capitalize on the meme coin pattern and doubtlessly generate substantial income.

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