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First Mover Americas: Hedera’s Token Gains on Fed Move
The latest price moves in crypto markets in context for August 14, 2023.
This article originally appeared in First Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.
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Hedera Hashgraph’s HBAR token took the lead among major cryptocurrencies on Monday with a gain of 15% over the last 24 hours, after the U.S. Federal Reserve’s FedNow added a Hedera Hashgraph-based micropayments platform, Dropp, as a service provider. FedNow is an instant payment service provider developed by the Fed for depository institutions in the U.S. Hedera is a public distributed ledger based on a Hashgraph algorithm that the company says allows users to process transactions quickly and cheaply. Bitcoin and ethereum were trading flat on Monday after trading in a tight range over the weekend.
FTX founder Sam Bankman-Fried has been sent back to jail ahead of his October trial on seven federal criminal charges after a federal judge revoked his release on bond Friday afternoon, saying the former crypto heavyweight appears to have tried to tamper with witnesses. Bankman-Fried is willing "to risk crossing the line in an effort to get right up to [the line], wherever it is," said U.S. District Judge Lewis Kaplan in New York. Bankman-Fried's lawyers said they will appeal the decision and asked that Bankman-Fried remain free until the appeal is heard. The judge rejected that motion.
Bank of America wrote in a research report last week that PayPal’s (PYPL) new stablecoin, , won't likely to be adopted widely anytime soon and longer term will face more competition from other branded stablecoins.“Investors may have been fine holding non-yield bearing stablecoins such as Tether and USD Coin (USDC), when rates were close to zero, but yield-bearing stablecoins will likely become increasingly available and attractive with short-terms rates above 5%,” analysts Alkesh Shah and Andrew Moss wrote.
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Yang perlu diketahui:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Dogecoin Hovers Near Key Support as Fed Easing Fails to Spark Risk Rally
Despite elevated trading activity, Dogecoin faces resistance near $0.1425, and its future movement is likely dependent on broader market sentiment.
Yang perlu diketahui:
- The Federal Reserve's 25-basis-point rate cut has led to mixed market reactions, with Dogecoin trading quietly within its established range.
- Dogecoin's price remains stable between $0.13 and $0.15, with whale wallets accumulating significant amounts of the cryptocurrency.
- Despite elevated trading activity, Dogecoin faces resistance near $0.1425, and its future movement is likely dependent on broader market sentiment.
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