The crypto sector suffered a major price drop in the past 24 hours. According to the experts, the declines that started yesterday were caused by a wave of liquidations on the Bybit exchange.
Volatility Spikes Up As August Approaches Its End
Following the price crash, Bitcoin broke the support at $62k and once again dropped below $59k. The drop came just as the coin settled between the support at $62,000 and a resistance at $64,000. But, as the markets moved down sharply, they triggered leverage-driven liquidation.
CoinGlass data suggests that the futures market saw $93.52 million in long Ether liquidations, which led traders to sell their assets at market price to settle debts all across CEXes. Apart from that, around $85.93 million in BTC liquidations followed as well.
Steven Lubka, head of private clients and family offices at Swan Bitcoin, said that leverage-driven flushes typically represent great buying opportunities. He added that he expects the markets to buy the dip on BTC, but that ETH will continue to struggle in comparison, just like it did throughout the year.
With August, typically a fairly quiet month in the crypto industry, seeing major volatility this year, many among crypto traders and investors have been turning to alternative investments, such as meme coins still in presale. With meme coins being the hottest trend in 2024, there are numerous opportunities at any given time, such as The Meme Games (MGMES).
JOIN THE MEME GAMES ICO AS ONE OF THE BEST ALTERNATIVE INVESTMENTS
What Do You Need To Know About The Meme Games?
The Meme Games is a new meme coin project launched just before the start of the 2024 Olympics. The project was inspired by the ancient sports event, but it also took its own, unique turn by introducing the meme Olympics.
Essentially, it presented five iconic meme coin personalities as athletes, including Dogecoin, Pepe, Brett, Dogwifhat, and Turbo. Each of them will be competing in various Olympic disciplines, and those who join the ICO get to pick an athlete. If their athlete wins the game, the investors backing it earn rewards.
BUY MGMES AND PICK YOUR ATHLETE
Investing in the MGMES token during the presale is the only condition to be able to pick an athlete, and users are free to buy as much or as little as they wish. The project’s ICO will be fairly short, scheduled to end on September 10. So far, it raised over $400k, while its token sells for only $0.00935.
If you wish to join, you can buy MGMES tokens with ETH, USDT, BNB, or credit/debit cards.
