Most meme coins collapsed this week as many retail traders continued to sell them in panic due to worsening cryptocurrency prospects.

The market capitalization of all meme coins tracked by CoinGecko fell by 12% to 113 billion dollars

The price of Solana has entered the technical bear market zone, as the cryptocurrency sell-off intensifies following the hawkish decision of the Federal Reserve.

Solana, the fifth largest cryptocurrency, has fallen to a psychologically important support level of $200.

Binance Futures updates leverage and margin levels for several USDⓈ-M perpetual contracts

The updated leverage and margin levels from Binance offer improved trading opportunities for certain trading pairs, which carries both potential benefits and risks for crypto traders.

Leverage and margin levels for USDⓈ-M perpetual contracts, including DAR, ME, CAKE, IOTA, LPT, ONE, and ZEN, will be updated by Binance Futures today and will take effect at 08:15 UTC on December 19, 2024.

🇺🇸 Trump stated that Elon Musk's Department of Government Efficiency (DOGE) will save the government $2 trillion.

⚡ Yesterday, Saylor reported that MicroStrategy bought another 15,350 BTC for ~$1.5 billion at ~$100,386 per coin, achieving a BTC yield of 46.4% QTD and 72.4% YTD.

❗ The bankrupt exchange Mt. Gox is transferring Bitcoin worth $172 million to new wallets as BTC approaches $107,000. There are no reasons for the transfer, as Mt. Gox plans to sell BTC only next year.

🇺🇸 The Fed Lowers Rate

At the last meeting of this year, the Fed delivered its third cut of 0.25% for 2024, lowering the interest rate to 4.50%.

📣 In general, the data matched forecasts and this was expected.