Crypto Market Trends on September 9
The crypto market faced some challenges on September 9. While Bitcoin and most major currencies like Solana, Ethereum, and XRP experienced declines, a few altcoins saw significant gains.
- MYX Finance surged after its Gate.io listing.
- Story’s price climbed following Heritage Distilling’s launch of an IP treasury.
- Worldcoin’s value spiked as Eightco began accumulating WLD.
the total crypto market cap fell by 1% to $3.94 trillion. Though, MYX Finance (MYX), Story (IP), and Worldcoin (WLD) increased by 100%, 31%, and 15%, respectively.
MYX Finance Post-Gate Listing
MYX Finance’s price has skyrocketed recently. It whent from $0.177 in August to a new high of $18. This movement boosted its market cap to over $3.5 billion. The 24-hour trading volume reached nearly $1 billion.
This price leap occurred after MYX was listed on Gate.io, a popular crypto exchange. New listings often lead to price increases due to heightened exposure and buying interest.
Though, MYX’s rapid rise could be unsustainable. With the Relative strength Index at 97 and a double-top pattern forming, there’s a chance the price could soon drop back down.
Story’s Surge After IP fund Launch
Story’s price reached $12, extending an upward trend that began in June when it hit a low of $2.46. It recently passed through its February peak of $8, indicating strong buyer interest.
Heritage Distilling’s introduction of an IP fund that includes $IP appears related to this surge. Recent funding rounds totaling $200 million also support Story’s growth.
Seung Yoon, CEO of PIP Labs, noted the meaning of the IP investment for investors aligned with AI, data, and IP sectors.
Worldcoin Spikes Following Eightco Fund
Worldcoin reached its highest level since January after Eightco announced plans to allocate $250 million to accumulate WLD.
Eightco and other treasury companies aim to apply similar strategies seen in previous successful campaigns. The goal is for these moves to increase token values and benefit these companies in the long run.
Nonetheless, Bitcoin-focused treasury firms like MSTR, Metaplanet, and Trump Media remain in rocky positions. This indicates potential risks linked to the new strategies being employed.
