- WLFI plunges on first day of trading amid profit-taking
- BGB leads the rally as it takes on an expanded role within the Morpho network
- MemeCore breaks into the top 100 after a strong multi-session rally
Cryptocurrencies showed mixed performance on Tuesday, with leading tokens remaining relatively steady amid ongoing uncertainty in the market.
As usual, there was a lot happening across the sector.
This article reviews three projects generating attention from both fundamental and technical perspectives. Read on for the details.
New governance token WLFI from World Liberty Financial led the downside, falling more than 14% on the 24-hour chart after its closely watched trading debut on Sept. 1.
MemeCore entered the top 100 digital assets by market capitalization following a notable rally, fueled by strategic partnerships and whale accumulation.
Meanwhile, BGB surged after Bitget hinted at fresh governance and gas usage for the native token on the Morpho blockchain. Here are the specifics.
WLFI falters after a strong debut
World Liberty Financial launched its governance token WLFI for trading on Sept. 1.
The launch dominated crypto forums and social media as early investors celebrated large initial gains.
However, the bullish momentum did not hold. WLFI spiked to an early high of $0.33 after trading commenced.
Subsequent sell pressure from unlocked token holders caused a sharp price correction over the following 24 hours.
WLFI traded at $0.2397 after dropping more than 14% in a single day.
Market capitalization slid from above $9.4 billion to roughly $6.55 billion, placing WLFI at #33 on CoinGecko.
Some investors and traders have already recorded significant losses.
For example, Andrew Tate reportedly lost $67.5k this morning after liquidation hit his long position amid heavy selling pressure.
He placed another buy order afterward, which could indicate confidence in an altcoin rebound or a bid to recover losses.
BGB jumps as a new use case sparks bullish momentum
Bitget’s native token BGB stole the spotlight with a rapid surge on the day.
BGB traded at $5.26 after rising more than 15% on the daily chart.
The rally followed an announcement of a strategic partnership between Bitget and Morph Chain, a Layer-2 payments platform, that reassigns BGB’s role in the ecosystem.
The exchange confirmed it will transfer all 440 million BGB held by the team to the Morpho Foundation, which will oversee future development tied to the native token.
Effectively, BGB will become a utility token on Morpho, serving as both a governance and gas token.
This repositioning expands BGB’s adoption in the payments sector and strengthens its on-chain utility.
The official statement emphasized Bitget’s plan to transfer team-held BGB to the Morpho Foundation and for the Morpho chain to adopt BGB as its gas and governance token to support the chain’s ecosystem growth.
MemeCore joins the crypto top 100
MemeCore drew attention after a notable rally that propelled it into the top 100 digital assets by market cap.
The token M traded at $0.8369 and sat at #93 on CoinGecko with a market capitalization of approximately $1.39 billion.
Strategic partnerships, whale accumulation, and liquidity events helped underpin the upward trend.
A key catalyst was a partnership with token launcher D-Pump, which pledged technical support, market expansion assistance, and ecosystem connections—appealing themes for traders hunting the next viral crypto.
Additionally, MemeCore’s liquidity event, MemeX, injected roughly $5.7 million into the ME ecosystem.
Liquidity providers and traders participated, triggering short squeezes that amplified upward price moves.
On-chain analytics from Nansen also showed heightened whale activity, with large wallets accumulating over 51.9 million MemeCore tokens last month.