Read on for these and other news highlights in our digest!
✅ Bitcoin Price Drops to $27,500
Since reaching $31,000 last week, the price of the leading cryptocurrency has dropped sharply by almost 10% and is currently trading at around $27.5k. Crypto market experts attribute the prolonged decline in BTC price to overly positive market expectations as well as the Federal Reserve's announcement of its intention to raise interest rates.
✅ Are Meme Coins Causing the Crypto Market to Crash?
According to analysts at Santiment, there is a direct correlation between meme coins and market movements. Quite often, the crypto market crashes when there is a surge in the popularity of meme coins. For instance, the previous week the market was down while tokens such as Pepe, Babydoge, and Bobo were setting records for mentions on social media.
✅ Australia Overtakes Asia in Number of Crypto ATMs
Coin ATM Radar reports that Australia has become the world's third-largest country in terms of the number of crypto ATMs, surpassing Asia, which includes major economies such as China, Japan, Singapore, and India. Since the start of 2023, Australia has been actively installing new crypto ATMs, allowing it to rise from fifth to third place in terms of the number of ATMs. Currently, the country has 364 crypto ATMs in operation. By comparison, Asia, which has more countries with major economies, has only 355.
.png)
