Memecoins and DeFi beat Bitcoin as BONK, CRV, FRAX post over 20% gains in 24 hours
The post Memecoins and DeFi beat Bitcoin as BONK, CRV, FRAX post over 20% gains in 24 hours appeared on BitcoinEthereumNews.com.
Eight disparate digital assets posted outsized 24-hour gains, with FLOKI surging 31.78%, CRV 26.77%, FXS 22.45%, TOSHI 20.71%, FARTCOIN 20.01%, MEW 17.92%, TRAC 16.71%, and BONK 16.36%, amid a liquidity-rich bullish market environment. The total crypto market capitalization has surpassed $3.7 trillion, representing an approximate 10% increase over the past week. Bitcoin is trading around $118,000, nearing its recent all-time highs of $123,000, while Ethereum holds above $3,400. Sentiment indicators reflect these gains, with the Fear & Greed Index lodged in the “Greed” zone. Institutional participation continues to intensify, as evidenced by surging demand for spot Bitcoin and Ethereum exchange-traded funds. Within this macro framework, memecoins are undergoing a narrative shift from speculative anomalies to financially integrated and utility-adjacent assets. Their resurgence is marked by structural evolutions such as exchange-listed perpetuals, growing ecosystem revenues, and expanding IP footprints. Why are memecoins moving? Ultimately, memecoins are moving because Bitcoin hit a new all-time high, Ethereum is surging amid strong fundamentals and renewed institutional interest, and positive regulatory moves in the US create a perfect storm for a new altcoin season. When alts are primed to rise, momentum traders turn to low-liquidity meme memecoins to gamble on industry-wide price appreciation. However, outside of the usual memecoin coin momentum-driven FOMO, FLOKI’s 31.78% spike was aligned with a perceived technical breakout, pushing past a year-long descending resistance trendline and horizontal ceiling at $0.000110. Indicators support the bullish shift, with the Relative Strength Index above 50 and MACD flipping positive. Wave analysis suggests the start of a new impulse cycle. Without a single news catalyst, traders treated FLOKI as a proxy for the memecoin sector. The project’s broader fundamentals include the Valhalla metaverse, FlokiFi DeFi suite, and educational initiatives. BONK advanced 16.36% amid a wave of institutional engagement and ecosystem monetization. New filings with the…
Filed under: News - @ July 17, 2025 2:25 pm