Cryptocurrencies Price Prediction: Polygon, Shiba Inu & Pepe — Asian Wrap 11 September

FXStreet Team FXStreet

MATIC price declines, on-chain activity fails to catalyze recovery in Polygon’s token

Polygon’s MATIC token witnessed a spike in user activity since Thursday, September 7. There has been a steady increase in metrics that measure user activity: Daily active addresses, volume, whale transfers greater than $100,000 and $1 million.

Shiba Inu price lags behind despite massive spike in Shibarium transactions and SHIB token burn

Shiba Inu price is struggling to wipe out its losses from the past week. SHIB price declined 3.42% in the past seven days. The meme coin’s Layer 2 chain Shibarium noted a spike in activity, however the development failed to act as a catalyst for SHIB price.

PEPE price recovery fazed by split in the meme coin’s team and Telegram account hack

PEPE, a frog-themed meme coin, that recently made headlines for differences between the founding team members and the theft of nearly $15 million worth of tokens. Early on Saturday, the official X account of the meme coin informed the community that the Telegram account was compromised.

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Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

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Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

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