---
title: "Crypto Corner: They cut the music at the altcoin party, but innovation is still pumping"
description: "If you’re trying to use your crypto rather than trade it, the real question is: how should you respond to the ups and downs of a volatile market?"
type: "NewsArticle"
publisher: "Daily Maverick"
site: "https://www.dailymaverick.co.za"
section: "HIGHS AND LOWS"
author: "Lindsey Schutters"
author_url: "https://www.dailymaverick.co.za/author/lindsey-schutters-2/"
canonical_url: "https://www.dailymaverick.co.za/article/2025-08-04-crypto-corner-altcoin-party-but-innovation-still-pumping/"
published: "2025-08-04T21:39:51"
updated: "2025-08-04T21:39:53"
lang: "en-ZA"
word_count: 385
---

# Crypto Corner: They cut the music at the altcoin party, but innovation is still pumping

> If you’re trying to use your crypto rather than trade it, the real question is: how should you respond to the ups and downs of a volatile market?

By Lindsey Schutters · Published 4 August 2025, 23:39 SAST · Updated 4 August 2025, 23:39 SAST

## Key points
- In a week where altcoins were poised for maturity, the crypto market plunged faster than a Bitcoin investor's heart rate, leaving South Africans to ponder whether to HODL or shop for spades with stablecoins instead of riding the volatility rollercoaster.
- Crypto market volatility reignited last week, with XRP plummeting nearly 20% and Bitcoin dipping below R2.1-million, despite earlier optimism.
- Analysts had set high price targets for Ethereum, but the sudden downturn raises questions about the stability of altcoins as investments.
- Local innovation shines as Binance partners with Peach Payments and MoneyBadger, enabling crypto payments at major retailers, shifting focus from speculation to utility.
- With platforms like Luno introducing tokenised stock trading, South Africans are increasingly using crypto for everyday purchases, moving beyond mere HODLing.

## Content

I was going to talk about altcoins maturing and becoming more stable, predictable investments, but then the market plunged last week. XRP dropped almost 20% in a single day. Bitcoin briefly tumbled below R2.1-million.

Ether was hit hard too. Yet we had started the week with analysts hyping Ethereum’s institutional appeal and setting price targets for ether beyond R70,000. We even had Pokémon cards getting the non-fungible token treatment on Solana. What gives?

Crypto markets are volatile – by now that’s no revelation. But if you’re trying to use your crypto rather than trade it, the real question becomes: how should you respond to these ups and downs?

**Read more:**[Local crypto market evolves beyond Bitcoin, embraces altcoins and stablecoins](https://www.dailymaverick.co.za/?post_type=article&p=2716740?dm_source%3Ddm_block_list&dm_medium=card_link&dm_campaign=business-maverick)

South Africans can at least rely on some market innovation on the licensed exchanges. Binance recently partnered with Peach Payments and MoneyBadger to allow crypto payments at major online merchants. Using your Binance app, you can now buy bed linen or even a spade from local stores using stablecoins, without the gas fees (transaction costs on Ethereum) or volatility.

This shift from speculation to utility is important. Sure, altcoins might offer eye-watering gains during a bull run, but everyday-use cases are what will determine crypto’s staying power. And it seems like that’s where our local industry is leaning.

**Read more:**[Is Bitcoin useful yet? The question explored in ‘Decrypting Crypto: the utility conversation’](https://www.dailymaverick.co.za/article/2025-07-20-is-bitcoin-useful-yet-the-question-explored-in-decrypting-crypto-the-utility-conversation/)

Luno, for instance, announced tokenised stock trading last week, where you can invest in major US companies. So there’s a lot going on.

Binance Africa legal adviser Larry Cooke called the Peach Payments partnership a “breakthrough moment” for crypto payments – and he’s not wrong. With MoneyBadger already processing more than R7-million in crypto payments this year and expanding rapidly, South Africans are moving from HODLing (buy and hold or as the crypto bros would say - holding on for dear life) to spending.

If the price charts make you queasy, maybe shift your focus. Use your crypto for groceries, gadgets or even municipal bills, and leave the day trading to the whales. That way, you’re not just riding the waves but doing something useful: nurturing your portfolio while the market sorts itself out. **DM**

*This story first appeared in our weekly Daily Maverick 168 newspaper, which is available countrywide for R35.*

![Image](https://www.dailymaverick.co.za/wp-content/uploads/2025/07/DM-01082025-001.jpg)