Memecoins lead crypto market gains as prices of major tokens BTC, ETH languish: Crypto Markets Today
Memecoins and AI-linked tokens outperformed Bitcoin and Ether on Tuesday, despite overall market sentiment remaining in "extreme fear."Summary
On Tuesday, Bitcoin remained near unchanged while Ether declined, as memecoins and AI-linked tokens like Worldcoin (WLD) led crypto market gains, with the CoinDesk Memecoin Index rising 1.5% and PIPPIN surging 46%. This outperformance occurred despite the crypto Fear and Greed Index indicating "extreme fear" following a recent selloff. Derivatives data shows intensifying bearish momentum in BTC futures with deeply negative funding rates on major exchanges, signaling significant deleveraging, though options markets suggest long-term volatility expectations are stabilizing. Separately, Merkle Trade, a perpetual futures DEX on the Aptos blockchain, is shutting down less than two years after raising $2.1 million, despite processing $30 billion in volume since its 2023 launch.
(Source：CoinDesk)