Altcoin rally stalls 🛑

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📝 What you need to know

What goes up… must stay flat for a while. The crypto market rally took a breather Thursday morning, as leading altcoins stalled amid Bitcoin’s recent consolidation. Bitcoin itself held steady as its volatility declined, with analysts suggesting that the leading cryptocurrency is maturing into an institutional-grade asset.

Meme coins took a battering, too, with the category as a whole slipping by double-digits Thursday morning as the likes of GOAT, Moo Deng and Peanut the Squirrel posted losses.

The sector was hit by the double whammy of Pump.fun confirming that its airdrop wouldn’t be coming in the “immediate future,” and a class action lawsuit alleging that the meme coin factory and its infrastructure partners were operating a coordinated racketeering enterprise.

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