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More →Pepe (PEPE) Rises 11% Daily: Further Pump or Correction on the Way?
The frog-themed meme coin has defied the latest market correction, pumping double digits today (October 23) and reaching a monthly high. Some analysts believe the price could rise further in the short term, but key factors suggest the move hasn’t been healthy and might be followed by a pullback. PEPE is one of the top-performing cryptocurrencies today and currently trades near $0.000005076. Its market capitalization has surged past $2.13 billion, making it the 50th-largest cryptocurrency and, once again, the fourth-biggest meme coin. Recall that yesterday (October 22), MemeCore (M) briefly took that position after <a href="https://cryptopotato.com/memecore-m-flips-pepe-pepe-after-pumping-25-in-a-day-details/" rel="nofollow" target="_blank">posting</a> a significant price increase. <a href="https://x.com/TokenTalk3x/status/2112826521102721179" rel="nofollow" target="_blank">According</a> to Token Talk, PEPE’s bulls have “one job right now”: push the token’s market cap above $2.21 billion. “The daily structure has improved massively from the summer lows, but resistance is resistance until proven otherwise,” the analyst added. X user Sjuul | AltCryptoGems also <a href="https://x.com/AltCryptoGems/status/2113248262987870219" rel="nofollow" target="_blank">issued</a> a bullish thesis, saying he still likes the PEPE chart, which is showing signs of “relative strength.” He believes buyers must now hold that flipped support/resistance level to trigger an additional potential pump. For his part, Crypto With Gopal <a href="https://x.com/cryptowithgopal/status/2113563112704192922" rel="nofollow" target="_blank">claimed</a> that PEPE has flashed an inverted head-and-shoulders reversal, with price pushing toward the $0.0000050-$0.0000053 neckline zone. He said a confirmed breakout could trigger a powerful recovery move and argued that bullish momentum has been building. Despite the impressive uptick, PEPE remains a meme coin, making it especially vulnerable to speculation and volatility, so a short-term correction wouldn’t be a surprise. The token’s Relative Strength Index (RSI) supports that scenario. The technical analysis tool runs from 0 to 100, where anything above 70 means that PEPE has entered overbought territory and could be headed for a pullback. Conversely, readings below 30 are typically seen as buying opportunities. Recently, the ratio exploded to 94. PEPE’s exchange netflow is also worth monitoring. Inflows have dominated outflows lately, suggesting investors have shifted from self-custody to centralized platforms, increasing immediate selling pressure. The post <a href="https://cryptopotato.com/pepe-pepe-rises-11-daily-further-pump-or-correction-on-the-way/" rel="nofollow" target="_blank">Pepe (PEPE) Rises 11% Daily: Further Pump or Correction on the Way?</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow" target="_blank">CryptoPotato</a>.
Solana and Hedera diverge on securities tokenization exemption standards.
Coin World news: Solana and Hedera hold divergent positions on the securities tokenization innovation exemption mechanism introduced by the U.S. SEC. The mechanism has sparked industry controversy, with the focus on which blockchains meet the "public and permissionless" access standards. Qualifying companies may operate tokenized U.S. stock trading platforms under specific requirements without registering as traditional stock exchanges. Currently, TSV LLC, OKXICE, and Kephas Corp. have submitted notices to the SEC, planning to conduct business using the Canton Network or Ethereum Layer 2, respectively. The Solana Policy Institute calls for tightening the definition of "permissionless," with a focus on reviewing actual control over transaction validation, censorship, and rule changes. Hedera advocates expanding the scope of application to allow public chains using permissioned validator nodes to participate. Wall Street organization SIFMA also seeks further clarification of the standards. SEC officials stated that companies may begin operations 30 days after submitting notice, without the SEC approving the blockchain used on a case-by-case basis, but this does not mean the regulator endorses the relevant networks. The SEC is evaluating feedback and may issue supplementary guidance.
Israel denies reports that Netanyahu ordered a change in policy on the Falkland Islands.
CoinWorld news, according to Israel's i24News, Israel on Saturday denied a report claiming that, in retaliation for sanctions imposed by the United Kingdom on settlements in the West Bank, Israeli Prime Minister Netanyahu had ordered diplomats to support Argentina's demand for negotiations on the Falkland Islands (Islas Malvinas) issue. "I categorically deny this allegation. There was no such instruction at all." Alex Gandler, spokesperson for the Israeli Embassy in the United Kingdom, posted in response to a report by The Daily Telegraph.
The long-short account ratio for BTC contracts is 2.17.
CoinWorld data: The BTCUSDT 4-hour long/short account ratio is 2.17, with more net long accounts than net short accounts. Compared with the same-caliber snapshot 24 hours ago, it is down 0.0284; compared with the same-caliber snapshot 7 days ago, it is up 0.4441.
Main players' 24-hour BTC whale transactions reached $775 million.
CoinWorld data: According to the Pro large-order list, the total trading volume of BTC and ETH main forces over the past 24 hours is as follows: BTC recorded a cumulative volume of 775 million USD, of which buy volume was 434 million USD and sell volume was 340 million USD, with a net difference of 94.27 million USD. ETH recorded a cumulative volume of 938 million USD, of which buy volume was 482 million USD and sell volume was 455 million USD, with a net difference of 26.74 million USD. The latest data shows that main forces are still positioning at key price levels: BTC's net pending order difference is 1.64 billion USD, and ETH's net pending order difference is 2.821 billion USD. Main force pending orders may be withdrawn or filled at any time; the data is for reference only and does not constitute any investment advice.
Tether faces Senate investigation over $6 million payment to former White House adviser's firm
Tether is facing a Senate investigation over millions of dollars paid to the company of Bo Hines, a former White House crypto adviser. Senator Richard Blumenthal, the top Democrat on the Senate investigations panel, has demanded all contracts, payment records, crypto wallet addresses, and lobbying communications by November 6. The investigation stems from a Wall Street Journal report stating that an arrangement by Tether generated $6.3 million in revenue for NXUM, with payments beginning during the period when Hines retained a one-third stake and helped shape the GENIUS Act. Tether later hired him to lead its U.S. operations. Blumenthal said the arrangement may involve violations of federal ethics, anti-corruption, and lobbying laws. Tether said an investigation by outside legal counsel found no wrongdoing. The scrutiny has escalated from a media investigation to a formal Senate records request.
Franklin Templeton receives Nasdaq approval to launch two Bitcoin ETFs.
CoinWorld data: Franklin Templeton has submitted an application to list two Bitcoin ETFs on Nasdaq, under the tickers FBEQ and FIBT respectively. These two ETFs will directly invest stock dividends in Bitcoin by combining U.S. stock indices with Bitcoin dividend funds. According to the filed documents, the Franklin Templeton ETF Trust has registered these two series on Nasdaq, and the registration follows previous filings. Although Nasdaq registration is a listing step, it does not represent SEC approval of the securities. In addition, the two Bitcoin ETFs mentioned in the filing each reference two different Vettafi stock benchmarks: FBEQ tracks the Vettafi US Large Cap 500 Bitcoin Dividend Index, while FIBT tracks the Vettafi US Innovation 100 Bitcoin Dividend Index.
Analyst: Bitcoin often sees drawdowns during U.S. midterm election cycles; watch the $73,000 support level.
According to a report from BiJie, analyst Ali Charts stated that Bitcoin often experiences drawdowns during U.S. midterm election cycles, and attention should be paid to the key support level of $73,000. He noted that in the U.S. midterm election cycles of 2010, 2014, 2018, and 2022, Bitcoin saw drawdowns of 72%, 65%, 52%, and 27%, respectively. The $73,000 level is close to the average purchase cost of current short-term Bitcoin holders. If post-election selling pressure pushes the price back to this area, it will test buyers' willingness to defend the bullish trend.
QQQ off-exchange short sale volume reported at 55.99%
BiJie Network US stock data: QQQ's off-exchange short selling volume accounted for 55.99% of the total that day. Compared with the same-caliber snapshot 24 hours earlier, it fell by 10.1869 percentage points; compared with the same-caliber snapshot 7 days earlier, it fell by 15.2688 percentage points.
NFT sales rose 66.58% to $76.56 million, with Bitcoin leading the market.
CoinWorld data: As of October 24, NFT sales rose 66.58% over the past seven days to $76.56 million, with Bitcoin dominating blockchain transaction volume and sales of $x BRC-20 NFT collectibles exceeding $25 million. NFT seller addresses increased 53.09% to 135,930. Both sides of the market expanded along with trading activity, although the dollar value of sales grew faster than the number of transactions. The dashboard recorded 764,169 transactions, compared with about 565,849 in the previous period. Compared with sales of about $45.96 million in the previous seven days, the latest increase was about $30.6 million. Bitcoin generated $31.07 million in NFT sales, up 268.06% from the previous seven days. Buyer addresses increased 86.79% to 8,581. Ethereum sales were $24.64 million, up 32.59%.