[LIVE] PUMP Plummets 16% After Airdrop Delay – Price Volatility and Crypto Market Turmoil on Thursday (24/7)
- Why Did PUMP Crash 16% After the Airdrop Delay?
- Zora Token Skyrockets 80% – Can the Rally Sustain?
- Arthur Hayes’ Bold Prediction: BTC to $250K in 2025
- XRP Drops 16% – Is a Rebound Imminent?
- Solana’s Rollercoaster: $200 High and Swift 5.5% Drop
- FAQs: Thursday’s Crypto Market Moves
The crypto market witnessed a sharp decline in PUMP’s value after co-founder Alon Cohen delayed its highly anticipated airdrop, triggering panic selling. Meanwhile, Zora token surged 80% following its Base integration, and Arthur Hayes predicts BTC will hit $250K this year. XRP and Solana also faced volatility, with SOL briefly touching $200 before retreating. Dive into the details of Thursday’s wild crypto swings.
Why Did PUMP Crash 16% After the Airdrop Delay?
The price of PUMP nosedived by 16.3% in 24 hours after co-founder Alon Cohen announced the airdrop wouldn’t happen "as soon as expected." The token, which traded at $0.0036 earlier this week, dropped to $0.003064 as two wallets dumped 1.25 billion PUMP tokens post-announcement. Cohen defended the delay, stating the team is prioritizing long-term ecosystem development over short-term rewards. However, the MOVE backfired, eroding investor trust. Competitors like LetsBonk are capitalizing on the fallout, leaving PUMP’s recovery in doubt.
Zora Token Skyrockets 80% – Can the Rally Sustain?
Zora (ZORA) defied the market slump with an 80% daily surge, pushing its July gains to 650%. The rally followed its integration with Base App, enabling users to mint and trade tokens tied to Farcaster posts. Unlike NFTs, these tokens are fungible and highly liquid. Despite a dip in volume since its July 21 peak, buyers remain dominant. Data from Coinglass shows traders migrating from exchanges like Bybit and BTCC to Zora, with 24-hour trading volume hitting $780M (+160%). Open Interest stands at $42M, signaling bullish sentiment.
Arthur Hayes’ Bold Prediction: BTC to $250K in 2025
BitMEX co-founder Arthur Hayes doubled down on his bullish outlook, forecasting Bitcoin at $250K and ethereum above $10K by year-end. He credits global credit expansion and institutional demand, fueled by pro-crypto policies under Trump’s administration. BTC, which slumped in early 2025, rebounded to $123K in July before settling at $118,676 at press time. Hayes’ optimism contrasts with 2024’s "edge of the cliff" fears, but the market’s resilience suggests his targets aren’t far-fetched.
XRP Drops 16% – Is a Rebound Imminent?
After a 72% monthly rally, XRP corrected 16% overnight, sliding from $3.67 to $2.96. It later recovered to $3.15, but on-chain data hints at further downside. CryptoQuant reports a record 2.98M XRP moved to Binance (worth $10M+), typically a prelude to selling. The buy/sell ratio also stayed below 1 since July 10 (now 0.88), indicating bearish pressure. If XRP breaks $2.95, support lies NEAR $2.65. While it remains a top altcoin, short-term caution is advised.
Solana’s Rollercoaster: $200 High and Swift 5.5% Drop
SOL briefly surpassed $200 after a 10% surge but retreated to $186.65 (-5.5% in 24 hours). The token, which hit $293 in January 2025, faces skepticism after analysts’ $700 predictions fizzled. Volatility remains high as traders weigh Solana’s scalability against newer LAYER 1 rivals. Historical data from TradingView shows SOL’s price often corrects after rapid climbs, suggesting consolidation may precede the next leg up.
FAQs: Thursday’s Crypto Market Moves
What caused PUMP’s price crash?
PUMP fell 16% after co-founder Alon Cohen delayed its airdrop, sparking sell-offs. Two wallets dumped 1.25B tokens shortly after the announcement.
Why is Zora token rising?
Zora’s 80% surge followed its Base App integration, which lets users tokenize Farcaster posts. High liquidity and fungibility drove demand.
Is Arthur Hayes’ BTC prediction realistic?
Hayes’ $250K BTC target hinges on institutional adoption and macro trends. While ambitious, BTC’s 2025 rally (+93% YTD) lends credibility.
