Bitcoin Mania Strikes Again: Prices Plummet, ORDI Token Surges, and FTX Set to Relaunch

First Mover Americas Bitcoin Ordinals Protocol Token Surges 50%

Bitcoin Ordinals Protocol Token surges 50% in First Mover Americas

Hey there, fellow digital asset enthusiasts! Bitcoin continues its rollercoaster ride, plummeting for the fifth consecutive day and reaching a low of $266K. Talk about a wild ride! But that’s not all that’s been happening in the crypto world. Let’s dive into the latest news and see what’s been going on.

ORDI Token Takes off Like a Rocket Ship

In the midst of bitcoin’s downward spiral, prices of the ORDI token tied to the Bitcoin Ordinals protocol have just shot up a staggering 50% in just 24 hours! And guess what? It happened right after it was listed on the crypto exchange Binance as an emerging project under the “seed” tag. Talk about planting the seeds of success! But be warned, this token is like a wild stallion, posing a higher-than-normal risk with its price volatility. So buckle up, do your research, and hold on tight if you dare to trade this token!

FTX Relaunch: A Phoenix Rising from the Ashes

Remember when FTX, one of the largest crypto exchanges, collapsed nearly a year ago, sending shockwaves through the industry? Well, hold on to your seats because Silicon Valley investment firm Proof Group, part of the Fahrenheit consortium, is in the running to relaunch FTX! It’s like witnessing a phoenix rising from the ashes of the crypto world. After receiving multiple bids for its potential restart, it looks like it’s now down to a shortlist of three candidates. Will Proof Group be the chosen one? We’ll find out soon enough.

Crypto Funds Enjoy an Inflow Bonanza

Inflows, inflows, and more inflows! Crypto funds are having the best run of positive influx since the 2021 bull market! According to CoinShares, investment vehicles holding cryptocurrencies saw a whopping $261 million of net inflows last week. That’s right, a record-breaking six consecutive weeks of positive influx totaling $767 million! It’s raining money in the crypto world, folks, just like the 2023 run of inflows and the end of the bull market in 2021. Ride the wave and enjoy the profits, my friends.

• Get Ready for a Wild Ride as Binance Lists ORDI Ordinals with the Magic of Seed Tags
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• Solana’s Journey: To the Moon or Just a Pit Stop?

Chart of the Day: Bitcoin’s Sudden Calmness

Check out this fascinating chart showcasing Bitcoin’s average monthly volatility since 2014. Despite its doubling in value this year, the market has been surprisingly calm. It’s like watching a peaceful lake, undisturbed by the storms of macro and leverage traders. But hey, who knows when the storm will strike again? Keep your eyes peeled!

Now, let’s see what’s been trending in the crypto world:

Trending Posts

• Bitcoin Addresses With Over $1K of BTC Hits Record 8M, Data Shows
• SOL Drops 5% as FTX Estate Transfers Tokens to Binance, Kraken
• Roger Ver Seeks Winding Up of Matrixport in Seychelles Lawsuit

That’s all for now, folks! Stay tuned for more exciting updates from the world of crypto. Until then, keep calm and hodl on!

This article originally appeared in First Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.

Edited by Sheldon Reback.

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