Cryptocurrencies Price Prediction: Ethereum, Dogwifhat & Cryptos — Asian Wrap July 08

Ethereum (ETH) is down nearly 5% on Friday following the Mt. Gox BTC repayment, sparking more than $108 million in ETH liquidations. The repayment’s supply strengthened the bearish momentum on Bitcoin, which spiraled into altcoins like ETH. 

Solana meme coins dogwifhat (WIF) and BONK surprisingly stood out as outliers on Friday, posting gains of 7% and 2% despite the bloodbath across tokens in the meme coin sector.

The crypto market will see a new wave of token unlocks in the coming weeks, with Aptos (APT), XAI, and Immutable (IMX) set to flood the market with $161 million worth of new supply. However, with these tokens currently experiencing drawbacks following the market’s bearish outlook, the unlock event may spur further price drops.