The post Schwartz “YOLO” Reaction to Analyst Dumping Majors for Memes appeared on BitcoinEthereumNews.com.

Crypto analyst shifts from large-cap assets to meme coins, betting on higher returns. Bitcoin and Ethereum show mixed signals, with volume declines hinting at consolidation. Bonk surges 6.26% as retail interest grows, signaling rising speculative momentum. Crypto analyst Tony Edward announced a significant portfolio realignment the other day. He revealed exiting holdings in large caps Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL) to instead favor meme coins Dogecoin (DOGE) and Bonk (BONK).  Edward expressed confidence these meme coins, though highly speculative, will outperform established crypto leaders in the current market cycle.  His stance notably drew a brief, humorous reaction from Ripple CTO David Schwartz, who simply replied on X (formerly Twitter) with the popular acronym, “YOLO.”  This response arguably highlights a broader current market mood involving high speculation, risk-appetite, and the potential for unexpected asset performance. How Are Major Cryptos Performing? Bitcoin, currently trading at $84,971.94, saw a modest 2.04% daily increase despite a weekly decline of over 3%.  Bitcoin’s market cap remains dominant at over $1.68 trillion, supported by a circulating supply nearing 20 million coins. However, recent price action shows potential signs of exhaustion, as trading volume has slowed, hinting at possible short-term consolidation for BTC. XRP is trading at $2.14 with a mild 1.31% daily gain. It faced resistance near $2.17, while $2.07 acted as a strong support level.   XRP’s trading volume is down 7.07% over the past 24 hours, suggesting reduced immediate bullish conviction among traders. However, the bounce observed from the $2.07 level shows buyers remain active defending key nearby support zones. Ethereum rose by 3.42% to $1,908.85, breaking past resistance at $1,850. Despite this recent price climb, ETH’s trading volume actually fell 5.62% during the same 24-hour period. Its positive volume-to-market cap ratio (around 6.53%) indicates solid underlying liquidity.  ETH found firm support…

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Filed under: News - @ April 2, 2025 3:21 am