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Cryptocurrency News Articles
Ether (ETH) Outperformed Bitcoin (BTC) in Daily Gains as Token 2049 and Solana's Breakpoint Events Concluded in Singapore
Sep 23, 2024 at 09:01 pm
Ethereum climbed 3.10%, surpassing $2,650, while Bitcoin rose 1.46%, hitting $63,630 in the last 24 hours according to the CoinMarketCap.
Crypto bettors are speculating about another rate cut, with Polymarket showing a close split: 43% expecting a 50 bps cut and 48% anticipating a 25 bps reduction.
Key Takeaways
Ether (ETH) outperformed Bitcoin (BTC) in daily gains as two major cryptocurrency events, Token 2049 and Solana’s Breakpoint, concluded in Singapore on September 22, 2024.
While both digital currencies experienced modest increases, the broader market remained largely stagnant, highlighting persistent uncertainty.
Cruising Past the 2K Mark: Ether Surges 15% in a Week
According to CoinMarketCap, Ethereum climbed 3.10%, surpassing the $2,650 mark, while Bitcoin rose 1.46%, hitting $63,630 in the last 24 hours. Notably, Ether surged 15.80% in the last week, showing a significant recovery from its bearish trend in the last month.
To put this into perspective, Ether touched the $21,70 mark on September 6 with a decline of over 18% as of September 23. However, this surge in Etheroutperformed Bitcoin in daily gains as two key cryptocurrency events, Token 2049 and Solana’s Breakpoint, concluded in Singapore on September 22, 2024. While both digital currencies experienced modest increases, the broader market remained largely stagnant, highlighting persistent uncertainty.
Cruising Past the 2K Mark: Ether Surges 15% in a Week
According to CoinMarketCap, Ethereum climbed 3.10%, surpassing the $2,650 mark, while Bitcoin rose 1.46%, hitting $63,630 in the last 24 hours. Notably, Ether surged 15.80% in the last week, showing a significant recovery from its bearish trend in the last month.
To put this into perspective, Ether touched the $21,70 mark on September 6 with a decline of over 18% as of September 23. However, this surge in Ether price was accompanied by a greater recovery in the digital asset, rising from a low of about $21,70 on September 6.
From a technical standpoint, Ether price has been consolidating above the $2,600 level for the past few days. A break below this support could lead to further declines, while a move above the $2,700 resistance could open the door for more gains.
On the other hand, Bitcoin price showed a modest rise, continuing to trade above the $63,000 level. Resistance at $64,000 could limit further gains for the flagship cryptocurrency in the short term.
Crypto Bettors Anticipate Rate Cut as Liquidations Surge
In the last 12 hours leading up to September 23, data from CoinGlass revealed a greater number of short positions were liquidated compared to long ones, with $64.89 million in short liquidations and $31.61 million in long liquidations. This points to a volatile trading environment, likely impacted by last week’s 50 basis point (bps) interest rate cut, which triggered increased trading activity.
Many market participants are speculating about another rate cut, with Polymarket showing a near-even split: 43% expecting a 50 bps cut and another 48% anticipating a 25 bps reduction.
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- PolitiFi Meme Coins: A New Alternative to Animal-Themed Tokens
- Sep 24, 2024 at 02:20 pm
- PolitiFi cryptos stands out as meme coins whose themes relate political movements and personalities. In a rapidly evolving world of meme coins, these tokens serve as another major alternative to animal-themed tokens, intertwining the concept of politics with the world of finance.
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- RAIR Technologies Selected for Denarii Labs Accelerator Program Targeting Web3 Startups
- Sep 24, 2024 at 02:20 pm
- RAIR Technologies, an open-source platform specializing in the development of decentralized Web3 applications, has been selected for the Denarii Labs Accelerator program.
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- Infinet (INFI): A New Entrant to the Cryptocurrency Market Worth Taking a Closer Look At
- Sep 24, 2024 at 02:20 pm
- As a new entrant to the cryptocurrency market, known as INFI, it is worthy to take a closer look at Infinet. It has indeed attracted the concern of the client in the crypto market as a new entrant with some unique characteristics and prospects.
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- Grayscale Ethereum Trust (ETHE) Suffers Largest Single-Day Outflow of $80M Since July 29
- Sep 24, 2024 at 02:10 pm
- Over $79 million was withdrawn from nine US spot Ethereum ETFs on Monday, the largest single-day outflow since July 29, according to data tracked by Farside Investors.
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- Baby Doge and Popcat Are Seeing Huge Gains, But Analysts Are Talking About Cutoshi, a New Memecoin That Has a Lot of Utility and Strong Potential for This Year
- Sep 24, 2024 at 02:10 pm
- The memecoin season is just starting, but some tokens are already ahead of the curve. Baby Doge and Popcat are seeing huge gains.
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- Polkadot (DOT), Solana (SOL), Ripple (XRP), Shiba Inu (SHIB) Price Analysis and News
- Sep 24, 2024 at 02:10 pm
- Polkadot had a solid performance, rising 2.15% in the past 24 hours and accumulating gains of 6.55% over the past week.
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- Claim $NFT or Stay Broke: Your Choice!
- Sep 24, 2024 at 02:10 pm
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- South Africa Traders Fair 2024 Concludes in Johannesburg
- Sep 24, 2024 at 12:45 pm
- The South Africa Traders Fair, organised by FINEXPO, concluded on 21 September 2024 at the renowned Protea Hotel Johannesburg Wanderers, marking a major success.
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- Internet Computer (ICP), Sui (SUI), and BlockDAG (BDAG) Making Headlines as Cryptocurrency Market Nears Bull Run
- Sep 24, 2024 at 12:15 pm
- The cryptocurrency market may be on the brink of another bull run, and three coins are currently making headlines: Internet Computer (ICP), Sui (SUI), and BlockDAG (BDAG).