The major cryptocurrencies have slipped into the red zone. What else is happening in the crypto market on Oct. 8?
YZi Labs has unveiled a $1 billion builder fund aimed at supporting founders and developers within the BNB ecosystem. The fund is designed to accelerate innovation on the BNB chain, with a focus on DeFi, AI, real-world assets, payments, and other technologies and solutions.
Want to learn more? Read about it on Coinspeaker.
Solana fell 6% to an intraday low of $218.40 on Oct. 8. Later, it recovered slightly to $221.94. The token is now down nearly 12% from its September highs.
The pullback came as investor demand for SOL weakened. With momentum shifting toward the bears, Solana slipped below local support at $225, which intensified the sell-off.
On Oct. 8, PancakeSwap confirmed its account was breached and urged users to ignore any links posted from it. In a series of now-deleted posts, the attacker tried to promote a fraudulent token, which reportedly reached $20 million in trading volume shortly after launch.
After touching a fresh all-time high near $125,700, Bitcoin has eased to about $121,000.
Momentum is cooling, with the MACD fading slightly but staying positive. As long as support holds, analysts see the next upside zone between $131,000 and $135,000.
You can read more here.
Data from CoinGlass reveals that the crypto market faced $662.39 million in total liquidations in the past 24 hours, comprising $510.89 million in longs and $151.50 million in shorts.
In the last 24 hours, more than 172,000 traders were liquidated. The largest single order, a BTC-USDT swap valued at $8.74 million, took place on OKX.
