The post 18 State AGs Urge Congress To Reject CLARITY Act Ahead Of Senate Vote appeared first on Coinpedia Fintech News A bipartisan coalition of 18 state attorneys general, led by New York’s Letitia James, is urging Congress to reject the CLARITY Act as currently written, ahead of Tuesday’s key procedural vote. James said the bill “would embolden scammers” in its current form. The coalition argues the legislation could weaken states’ ability to pursue crypto fraud …

Hunter Biden’s LAPTOP memecoin plunged 97.8% within its first hour of trading after briefly soaring to nearly $200, turning a highly publicized launch into a rapid sell-off that left thousands of traders facing losses. The token launched on the Base network on September 9 and quickly attracted speculative buying. Its price surged from the opening level to roughly $200 before collapsing below $5 within about an hour. The extreme move highlighted the risks of entering a thinly traded memecoin during its first minutes on the market. However, the dramatic price action was not necessarily backed by an equivalent amount of capital. Reports indicated that LAPTOP’s multibillion-dollar implied valuation was supported by only a relatively small amount of liquidity. As a result, large orders could move the token dramatically in either direction, making its headline market capitalization a poor representation of the capital actually available to absorb selling. At the same time, supply concentration added another layer of risk. Bubblemaps CEO Nicolas Vaiman described the token’s supply as “extremely concentrated,” a structure that can leave a newly launched token particularly vulnerable when large holders begin selling. Adding to the volatility, the opening also favored automated traders. Because LAPTOP initially traded through decentralized exchanges, trading bots could react to the launch faster than ordinary investors. This helped accelerate the initial buying pressure before the market quickly reversed. Some early traders profited from the volatility, while others who bought near the peak suffered substantial losses. Bubblemaps data indicated that roughly 80% of traders lost money, with more than 15,000 wallets reportedly affected. Despite the speculation surrounding the launch, Hunter Biden had presented LAPTOP as more than a conventional memecoin. He positioned it as a symbolic response to the controversy surrounding the laptop associated with him and sought to distinguish it from Donald Trump’s TRUMP token . “ For years, Trump and right-wing media have been asking, ‘Where’s Hunter? Where’s Hunter?’ Well, here I am. Clear, strong, seven years sober, and with a lot to say ,” Biden wrote. “ The symbol they used to try to end me is now a symbol of resilience, redemption, and recovery .” Moreover, Biden acknowledged the skepticism surrounding celebrity-backed cryptocurrencies and outlined plans to distribute part of the project’s supply to the community. He also said some tokens would go to people who lost money on TRUMP. “ You should not expect me or anyone else to make this token more valuable for you. LAPTOP isn’t just about owning something, it’s about saying something .” He noted. Nevertheless, the project’s collapse reinforced concerns about the durability of celebrity memecoins. “ My initial reaction was, ‘That’s so last year.’ The track record of memecoins has been rocky at best, and it was not clear that this issue had either the backer or the timing to buck that trend, ” said Steve Sosnick, Interactive Brokers chief strategist, in an email exchange with MarketWatch.

The post Ripple [XRP] News Roundup: XRP Jumps 4.3% As CLARITY Vote Looms appeared first on Coinpedia Fintech News XRP is trading at $1.40, up 4.3% over 24 hours, a bounce from the $1.34-$1.35 range it held for much of the week, against a backdrop of unusually busy institutional and infrastructure news across the Ripple ecosystem. Smart Money and Retail Are Moving in Opposite Directions On-chain data shows a widening gap between retail and …

Chainlink (LINK) is showing signs of weakening momentum after a sharp rally pushed the token nearly 95% higher from around $7 to a recent high of $13.77. While the move has delivered significant gains to investors, on-chain analyst Ali Martinez has identified several indicators that could increase the risk of a near-term pullback. The pundit pointed to a sell signal from the TD Sequential indicator on Chainlink’s weekly chart, which emerged after LINK’s substantial advance, suggesting the token could enter a period of consolidation or face renewed selling pressure if demand begins to fade. Meanwhile, the technical warning comes alongside a notable decline in activity among large LINK holders. Martinez reported that transactions worth more than $1 million dropped from approximately 59 over a two-week period to about 10. The sharp drop in high-value transactions suggests whale participation has cooled as LINK approaches its recent peak. Although lower whale activity does not necessarily mean large holders are selling, reduced participation from major market players could make it harder for the rally to maintain its pace without stronger demand. Additionally, exchange balances add another reason for caution. According to the analyst, approximately 1.75 million LINK recently moved to exchanges, pushing the amount held on trading platforms from roughly 269.25 million to around 271 million tokens. LINK has already pulled back from its recent high. However, the token remains up more than 5% over the past week, highlighting the strength of its recent price move. Still, the mixed signals haven’t stopped some analysts from maintaining a bullish long-term view. Analyst Michaël van de Poppe has suggested that Chainlink is among the cryptocurrencies with the potential to turn a $10,000 investment into $100,000 by 2029, reflecting his expectation that LINK could deliver significant gains over the coming years. Elsewhere, crypto analyst Crypto Patel has also maintained a bullish stance after LINK climbed roughly 90% from a stated $7 entry. He highlighted LINK’s close above the $10.87 higher-timeframe level and said holding above that area would support targets of $50 and $100. At press time, LINK was trading at $11.43, up 1.54% over the past 24 hours.