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Cryptocurrencies Price Prediction: Ordinals, FTX & Cryptos– American Wrap 7 November

Cryptocurrencies Price Prediction: Ordinals, FTX & Cryptos– American Wrap 7 November
FXStreet TeamFXStreet TeamFXStreet

Ordinals-based meme coin rallies 40% after Binance listing

Bitcoin-based DeFi protocol Ordinals made headlines in the past couple of months and has since become a rather familiar name among traders and investors. This familiarity seems to have been accidentally exploited by a token listed on Binance, which resulted in a meme coin rally on Tuesday.
ORDI/USD 1-day chart

Lawyers handling the FTX bankruptcy case are considering offers that could eventually lead to a relaunch of the troubled exchange.

At an Oct. 24 hearing of the United States Bankruptcy Court in the District of Delaware, Kevin Cofsky of Perella Weinberg Partners revealed he is negotiating with several parties interested in purchasing the company.

Chart

Dogecoin, Shiba Inu and Bonk Open Interest spikes, outshining Bitcoin

Meme coins in the crypto ecosystem, Dogecoin (DOGE), Shiba Inu (SHIB) and Bonk (BONK) noted spikes in their open interest in the 24-hour period between November 6 and 7. This metric indicates that the risk appetite of traders has increased as meme coins are typically considered riskier bets than large market capitalization assets like Bitcoin and Ethereum.
SHIB/USD one-day price chart
 

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FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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