7
Apr, 2025
Conor McGregor’s token creators to refund bidders after failed launch
Altcoin News, Bitcoin News, Crypto Analytics, Crypto Industries & Currency Updates
Investors who bid on the REAL (REAL) token promoted by former UFC champion Conor McGregor will receive a full refund after the project failed to raise above its $1 million minimum requirement.
“We need to be real. We didn’t hit our minimum raise,” the developers of the Real (REAL) token, Real World Gaming said in an April 6 X post, adding that “All bids will be refunded in full.”
“This is not the end,” RWG said.
The team only managed to raise $392,315 in USDC (USDC) over a 28-hour presale on April 5 and 6 — less than half of the minimum required and approximately 11% of the $3.6 million target, which was conducted via a sealed-bid auction.
The public sale of 60 million REAL tokens (3% of the total 2 billion REAL supply) initially targeted a fully diluted value of $120 million, with the sealed bid auction starting at $0.06 per token.
Details of the REAL token launch. Source: RWG
Only 668 participants were involved, according to RWG’s data.
Related: Celeb tokens that burned bright, then burned out, in 2024
McGregor, a UFC fighter turned entrepreneur and Ireland political candidate, initially claimed that his token would be more legitimate than other celebrity-endorsed tokens, which have frequently resulted in rug pulls:
“This isn’t some celebrity-endorsed bullshit token, it’s a REAL game changer that will improve the crypto ecosystem as well as make REAL change in the world,” McGregor said in a statement shared with Cointelegraph.
Source: Conor McGregor
Was REAL launched at a bad time?
The REAL token launched in the middle of a sharp market downturn — with Bitcoin (BTC) falling, while US stocks saw an estimated $6.6 trillion loss on April 3 and 4 — the largest two-day loss ever as US President Donald Trump’s tariff plans continue to raise recession fears.
Memecoins have also been cooling off since the launch of the Official Trump memecoin on Jan. 18, 2025. The Libra (LIBRA) token scandal involving Argentine President Javier Milei in late February also exacerbated the downward trend.
The once-$100 billion memecoin market has now fallen below $44 billion and is down 13% over the last 24 hours, CoinGecko data shows.
Magazine: XRP win leaves Ripple a ‘bad actor’ with no crypto legal precedent set
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Learn MoreConor McGregor’s token creators to refund bidders after failed launch
6
Apr, 2025
Bitcoin Struggles Below $80K as Weekend Sell-Off Wipes Out $160B in Value
Altcoin News, Bitcoin News, Crypto Industries & Currency Updates
While bitcoin maintained its footing on Friday, hovering above the $84,000 threshold, the digital currency descended below the $80,000 mark by Sunday, erasing $4,600 in value over the course of the weekend. Bitcoin’s Sunday Decline Triggers Deep Losses Across Digital Assets By Sunday evening, just before 5 p.m. ET, bitcoin ( BTC) was changing hands […] …
Learn MoreBitcoin Struggles Below $80K as Weekend Sell-Off Wipes Out $160B in Value
6
Apr, 2025
Bitcoin falls below $80K — Will PI, OKB, GT and ATOM outperform BTC and altcoins?
Altcoin News, Bitcoin News, Crypto Analytics, Crypto Industries & Currency Updates
Last week, Bitcoin (BTC) began showing early signs of decoupling from the US stock markets. Bitcoin was relatively flat over the week, while the S&P 500 plunged by 9%. The sell-off was triggered following US President Donald Trump’s April 2 global tariff announcement, which escalated further on April 4 as China retaliated with new tariffs on US goods. Even gold was not spared and was down 1.9% for the week.
Alpine Fox founder Mike Alfred highlighted in a post on X that a gold bull market is bullish for Bitcoin. During previous cycles, gold led Bitcoin for a short while, but eventually, Bitcoin caught up and grew 10 times or more than gold. He added that it would not be any different this time.
Crypto market data daily view. Source: Coin360
Although the short-term outperformance of Bitcoin is an encouraging sign, traders should remain cautious until further clarity emerges on the macroeconomic front. If the US stock markets witness another round of selling, the cryptocurrency markets may also come under pressure.
A handful of altcoins are showing strength on the charts, but waiting for the overall sentiment to turn bullish before jumping could be a better strategy. If Bitcoin breaks above its immediate resistance, what are the top cryptocurrencies that may follow it higher?
Bitcoin price analysis
Bitcoin bulls have failed to push the price above the resistance line, but they have not ceded much ground to the bears. This suggests that the bulls have kept up the pressure.
BTC/USDT daily chart. Source: Cointelegraph/TradingView
The 20-day exponential moving average ($84,241) is flattening out, and the relative strength index (RSI) is just below the midpoint, signaling a balance between supply and demand.
This advantage will tilt in favor of the bulls on a break and close above the resistance line. There is resistance at $89,000, but if the level gets taken out, the BTC/USDT pair could ascend toward $100,000.
The $80,000 is the vital support to watch out for on the downside. If this level cracks, the pair could plummet to $76,606 and then to $73,777.
BTC/USDT 4-hour chart. Source: Cointelegraph/TradingView
The pair has been consolidating between $81,000 and $88,500. The moving averages on the 4-hour chart are sloping down marginally, and the RSI is just below the midpoint, signaling the continuation of the range-bound action in the near term.
If buyers push the price above $85,000, the pair could rally to $88,500. This level could attract sellers, but the pair may jump to $95,000 if the bulls prevail.
The bears will be back in the driver’s seat if the price breaks below the $81,000 to $80,000 support zone. The pair may then dump to $76,606.
Pi Network price analysis
Pi Network (PI) has been in a strong downtrend since topping out at $3 on Feb. 26. The relief rally on April 5 shows the first signs of buying at lower levels.
PI/USDT daily chart. Source: Cointelegraph/TradingView
Any recovery is expected to face selling at the 20-day EMA (0.85), which remains the key short-term level to watch out for. If the PI/USDT pair does not give up much ground from the 20-day EMA, it indicates that the bulls are holding on to their positions. That opens the doors for a rally above the 20-day EMA. The pair could then jump to the 50% Fibonacci retracement level of $1.10 and next to the 61.8% retracement level of $1.26.
The $0.40 level is the critical support on the downside. A break and close below $0.40 could sink the pair to $0.10.
PI/USDT 4-hour chart. Source: Cointelegraph/TradingView
The 4-hour chart shows that the bears are defending the 50-simple moving average, but a minor positive is that the bulls are trying to keep the pair above the 20-EMA. If the price rebounds off the 20-EMA, the bulls will attempt to kick the pair above $0.80. If they do that, the pair could travel to $1.20.
On the contrary, a break and close below the 20-EMA suggests that the bears have kept up the pressure. The negative momentum could pick up on a break below $0.54. The pair may then retest the vital support at $0.40.
OKB price analysis
OKB (OKB) turned up sharply on April 4 and closed above the moving averages, indicating that the bulls are attempting a comeback.
OKB/USDT daily chart. Source: Cointelegraph/TradingView
The up move continued, and the bulls pushed the price above the short-term resistance at $54 on April 6. The OKB/USDT pair could reach the resistance line of the descending channel, which is likely to attract sellers. If the price turns down sharply and breaks below $54, the pair may oscillate inside the channel for a few more days.
On the other hand, if buyers do not give up much ground from the resistance line, it increases the likelihood of a break above the channel. The pair could climb to $64 and then to $68.
OKB/USDT 4-hour chart. Source: Cointelegraph/TradingView
The pair will complete an inverted head-and-shoulders pattern on a break and close above the neckline. The up move may face selling at the resistance line, but on the way down, if buyers flip the neckline into support, it increases the possibility of a break above the resistance line. If that happens, the pair could start its march toward the pattern target of $70.
Sellers will have to fiercely defend the neckline and quickly pull the price below the 20-EMA to prevent the rally. The pair may drop to the 50-SMA and thereafter to $45.
Related: Solana TVL hits new high in SOL terms, DEX volumes show strength — Will SOL price react?
GateToken price analysis
GateToken (GT) has been finding support at the 50-day SMA ($22.05) for a few days, which is an important level to watch out for.
GT/USDT daily chart. Source: Cointelegraph/TradingView
The flattish moving averages and the RSI just below the midpoint do not give a clear advantage either to the bulls or the bears. A break and close above $23.18 could push the price to $24. This remains the key overhead resistance for the bears to defend because a break above it could catapult the GT/USDT pair to $26.
This positive view will be invalidated in the short term if the price breaks and maintains below the 50-day SMA. The pair may sink to $21.28 and then to $20.79.
GT/USDT 4-hour chart. Source: Cointelegraph/TradingView
The pair turned down from the resistance line of the descending channel pattern, indicating selling on rallies. The break below the moving averages suggests the pair may remain inside the channel for some more time.
Buyers will gain the upper hand on a break and close above the resistance line. Such a move suggests that the corrective phase may be over. The pair could rally to $23.18 and then to $24.
Cosmos price analysis
Cosmos (ATOM) is trying to form a bottom but is facing selling at $5.15. A minor positive in favor of the bulls is that they have not allowed the price to break below the moving averages.
ATOM/USDT daily chart. Source: Cointelegraph/TradingView
If the price rebounds off the moving averages with force, it signals buying on dips. That improves the prospects of a break above the $5.15 resistance. If that happens, the ATOM/USDT pair could surge toward $6.50 and then to $7.17.
Contrarily, a break and close below the moving averages suggests a possible range formation in the near term. The pair could swing between $5.15 and $4.15 for a while. Sellers will be back in command on a slide below $4.15.
ATOM/USDT 4-hour chart. Source: Cointelegraph/TradingView
The bulls and the bears are witnessing a tough battle at the 20-EMA on the 4-hour chart. If the price remains below the 20-EMA, the pair could tumble to the 50-day SMA and later to $4.15. Buyers are expected to fiercely defend the $4.15 level.
Instead, if the price stays above the 20-day EMA, it signals solid demand at lower levels. The bulls will then try to push the pair to $5.15. A break and close above this resistance could start a new up move.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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Learn MoreBitcoin falls below $80K — Will PI, OKB, GT and ATOM outperform BTC and altcoins?