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Bitcoin Reclaims $64K, Altcoins Rally, Popcat Shines

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4 weeks ago

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The cryptocurrency prices today have Continued the latest bullish trend, igniting optimistic sentiment among investors. Bitcoin (BTC) price broke above the $64,000 mark. Whilst, Ethereum (ETH), Solana (SOL), Cardano (ADA) and Ripple’s XRP also gained significantly. Simultaneously, Popcat (POPCAT) and Pepe Coin (PEPE) emerged among the day’s top crypto gainers.

Meanwhile, the global crypto market cap surged 4.21% to $2.25 trillion in the last 24 hours. Furthermore, the total crypto market volume also surged significantly. So, let’s take a closer look at some of the top top crypto prices today.

Cryptocurrency Prices Today Extend Gains

Bitcoin Price Today

Cryptocurrency prices todayCryptocurrency prices today
Bitcoin price today, Source: CoinMarketCap

Bitcoin price soared 4.98% to $64,010.25 at press time on August, 2024. Its intraday lows and highs were $60,719.48 and $64,947.06, respectively. Whilst, the BTC market cap surged to $1.26 trillion. This surge particularly after Fed Chair Jerome Powell offered clear hints on an upcoming Fed rate cut.

Ethereum Price Today

Ethereum price today, Source: CoinMarketCap

Meanwhile, ETH price stood at $2,750.39, gaining 3.07% the past day. Ethereum’s 24-hour lows and highs were recorded as $2,634.72 and $2,799.33, respectively. However, Ethereum Foundation’s $94 million ETH dump raised concerns on whether the rally will be sustained.

 

Solana Price Today

The SOL price registered a 6.17% surge in value and traded at $154.55 as other cryptocurrency prices rallied. Whilst, Solana’s 24-hour lows and highs were $143.16 and $155.34, respectively. Solana’s market cap rested at $71.96 billion. Meanwhile, the coin’s 24-hour trading volume was $2.78 billion, a whopping 101.17% increase over the past day.

 

XRP Price Today

XRP price soared by 1.42% in the past 24 hours to trade at $0.6084. Its 24-hour lows and highs were $0.5943 and $0.6156, respectively. Moreover, trading volume surged 22.09% to $1.18 billion. Earlier this week, Ripple kickstarted RLUSD stablecoin minting on XRP Ledger and Ethereum mainnet.

Meme Crypto Prices Today

Dogecoin (DOGE) price gained 5.47% over the past day to reach $0.1127. Moreover, Shiba Inu (SHIB) price saw a 6.25% upsurge to $0.00001523 today. These gains follow the broader market trend, as seen by major cryptocurrency prices today.

Top Cryptocurrency Gainers Prices Today

  • Popcat (POPCAT): This popular Solana meme coin rallied25.02% to $0.7605.
  • SATS (1000SATS): The crypto gained 22.91% to $0.0003905.
  • Core (CORE): The token registered a gain of 13.83% to $1.21 today.
  • Sui (SUI): Whilst, the SUI crypto surged 13.46% to $0.9966.

Top Cryptocurrency Losses Today

Only Binance Coin (BNB) lost significant value today among the top cryptocurrencies. The BNB price fell by 0.95% to $576.72 at the time of writing. Meanwhile, other major crypto prices continued gaining from optimism around Fed rate cuts.

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Kritika Mehta

Kritika boasts over 2 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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24/7 Cryptocurrency News

Texas Court Dismisses Consensys Suit Against SEC on Procedural Basis

Published

2 hours ago

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September 20, 2024

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The United States District Court for the Northern District of Texas dismissed Consensys Software Inc.‘s case against the Securities and Exchange Commission. This was after a long legal battle to determine the status of Ethereum and other similar software products.

Texas Court Ends Consensys Suit Against SEC

The U.S. District Court in Fort Worth has thrown out the allegations made by Consensys against the Securities and Exchange Commission in a recent legal move. The court, presided over by Judge Reed O’Connor, ruled on procedural grounds. The judge determined the claims concerning Ethereum classification and the regulatory approach to MetaMask were not ripe for judicial review. This decision effectively puts an end to the current litigation initiated by Consensys in April of this year.

The dismissal focused particularly on the lack of final agency action from the SEC, which the court noted was a requisite for a substantial legal challenge. This procedural dismissal indicates that despite the issues raised, the court decided not to proceed with evaluating the merits of the case.

Initially, Consensys challenged the SEC’s classification of Ethereum and its derivatives as securities. The complaint highlighted concerns over the SEC’s focus on MetaMask, a software service provided by Consensys that facilitates crypto transactions and staking. 

Despite an earlier notification in June about the SEC dropping its investigation into Ethereum, the broader implications of this regulatory scrutiny remained a contentious issue.

Subsequent to the initial lawsuit, the SEC initiated a separate enforcement action in June, accusing Consensys of operating its MetaMask swaps service without proper registration. 

In addition, according to Judge O’Connor, this case lacked the necessary finality from the Securities and Exchange Commission side to be considered ready for court adjudication.

Reactions and Future Regulatory Steps

The court’s decision to dismiss on procedural grounds does not conclude the legal issues surrounding the regulation of Ethereum and other blockchain technologies. 

More so, Consensys has expressed its intention to continue advocating for blockchain developers and to challenge the SEC’s actions in other jurisdictions, indicating that the struggle over crypto regulation in the U.S. is far from over. The case’s dismissal in Texas does not preclude the blockchain company from pursuing other legal avenues to address their grievances.

In addition, most recently, a US Bankruptcy judge Brendan Shannon approved Terraform Labs plan to liquidate its assets following an ongoing SEC lawsuit.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. His work includes notable contributions to Cryptopolitan and Coingape News Media, where he shares his insights on the latest developments in the cryptocurrency market. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Whale Dumps Entire PEPE, FLOKI, and WLD Holdings, What’s Next For These Assets?

Published

8 hours ago

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September 19, 2024

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A crypto whale has sold his entire Pepe coin, FLOKI, and Worldcoin holdings amid the recent price surge in the market. The digital asset market notched increased sentiments following interest rate cuts by the Federal Reserve. However, some users point to profit taking which can reduce the projected uphill movement.

PEPE Whale Dumps Assets 

A digital asset whale has sold his holdings in three assets raking in profit. On-chain data shows the trader has sold  $3.2 million in PEPE, FLOKI, and WLD making a $200,000 profit. The whale raked in $110,000 from Pepe coin holdings while netting $45,000 and $44,000 from FLOKI and WLD respectively. 

According to crypto analysts, the trader suffered losses at some point to due price swings after Bitcoin traded below $55K. The drop in Bitcoin price sparked a decline in altcoins and meme coins as the wider market faced a slight correction. Following the Federal Reserve’s decision to slash policy rates by 50 BPS on Sept 18, prices of crypto assets surged leading to traders looking to make a profit. 

Generally, whale movements send a bearish signal to the market due to their total number of holdings with smaller traders moving in the same direction. Recently, the market has seen similar movements from traders to reposition assets amid price swings. This week, an Ethereum whale dumped $38 million worth of ETH sparking negative pressure. 

What’s Next For The Assets? 

The crypto market is soaring off the Fed’s decision to cut interest rates. Several traditional investors projected growth in the market after the September rate cuts as funds flow to risky assets. At press time, the total market cap is up 6% with the market cap hitting $2.1 trillion. In the last 24 hours, PEPE surged 13%, alongside other meme coins.

FLOKI price is up 10% in the same time frame while Worldcoin moved up 8%. Most commentators point to increased gains in the price of crypto assets as macro factors flip positive.

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David Pokima

David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Binance CEO Says Institutional Investors Grew 40% This Year

Published

16 hours ago

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September 19, 2024

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Binance CEO Richard Teng has revealed that the crypto exchange’s institutional and corporate investors grew by 40% this year. This development again highlights how much institutions have continued to gain exposure to crypto assets, especially since the spot Bitcoin and Ethereum ETFs launched.  However, Richard Teng is confident that institutional crypto adoption is just getting started.

Binance CEO Says Exchange Recorded 40% Growth

Teng revealed during an interview at the Token2049 conference in Singapore that the crypto exchange has recorded a 40% increase in institutional and corporate investors this year. However, he added that institutional allocation to crypto is just the tip of the iceberg and is only getting started.

The Binance CEO expects that more institutions will crypto to invest in crypto assets as time goes on. He added that many of them are still doing their due diligence, which is holding them back from gaining exposure to these digital assets.

Richard Teng believes that regulatory clarity will provide certainty to these institutions and other mainstream users, increasing liquidity in the crypto space. Meanwhile, he highlighted the effect of institutions investing in crypto assets as one of the reasons why Bitcoin hit a new all-time high (ATH) of $73,000 earlier in March.

Indeed, these institutions played a major role in Bitcoin hitting a new ATH before the halving event. The approval of the Spot Bitcoin ETFs in January this year caused new money from these institutions to flow into the BTC ecosystem. These inflows ultimately led to a parabolic price rally for the flagship crypto, reaching $73,000.

Spot Bitcoin ETFs Are Far From Their Peak

Nate Geraci, the President of the ETF Store, shared a sentiment similar to the Binance CEO when he recently suggested that the Spot Bitcoin ETFs have yet to reach their peak. SoSoValue data shows that the Bitcoin ETFs have recorded net inflows of $17.44 billion since they launched. BlackRock and Fidelity, the most successful ETF issuers, already have over $21 billion and $10 billion in assets under management (AUM).

However, Geraci is confident they can still achieve much more success, noting that most wirehouses have yet to approve these Bitcoin ETFs. These wirehouses refer to major brokerage firms that have a global reach. Therefore, just like the Binance CEO predicts, more institutional investors will continue to allocate to crypto as time passes.

It is worth mentioning that other crypto ETFs besides Spot Bitcoin and Ethereum ETFs could launch soon enough. Asset managers VanEck and 21 Shares already filed to offer a Spot Solana ETF. Meanwhile, Grayscale has launched its Grayscale XRP Trust, which the asset manager could eventually convert to a Spot XRP ETF.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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