24/7 Cryptocurrency News
BTC & Altcoins Tank Amid US DoJ’s Nvidia Crackdown
The crypto prices today have mainly embarked upon an alarming bearish trend. Bitcoin (BTC) price witnessed a significant fall, reaching the $56K level. Ethereum (ETH), Solana (SOL), and XRP followed, tanking considerably over the past day. This waning movement primarily aligns with the U.S. DoJ’s crackdown on Nvidia.
Notably, the Department of Justice recently sent subpoenas to Nvidia and other companies as it sought evidence that the AI firm violated antitrust laws. Subsequently, the S&P 500 today saw a 2.12% fall, whereas the global crypto market cap experienced a whopping 4.60% decline.
Nevertheless, the total crypto market volume soared 15.14% in value to $65.59 billion over the day. Let’s delve deeper into some of the top crypto by market cap and their price action today, September 4.
Crypto Prices Today Mirror Investor Concerns
The DoJ’s crackdown on Nvidia appears to have rippled bearish waves across the broader market. While BTC traded at the $56K level, ETH slipped to $2,300. Simultaneously, XRP and SOL cracked 2%-6%.
Bitcoin Price Today
BTC price rested at $56,698 at press time, noting a nearly 4% drop in value in the past 24 hours. The flagship coin’s intraday low and high were $55,673.16 and $59,314.34, respectively.
Bitcoin’s phenomenal drop aligns with a staggering $287.78 million outflows in Bitcoin ETFs as of September 3. Nevertheless, BTC’s dominance rose 0.08% to 56.40% today, hinting at a comparatively poor momentum within the alts sector.
However, it’s also worth mentioning that investor concerns prevail in the market over future price action as BOJ looks to hike interest rates ahead.
Ethereum Price Today
Simultaneously, ETH price pulled back 6% in the past 24 hours and is currently trading at $2,373. The crypto’s 24-hour low and high were $2,313.27 and $2,524.76, respectively.
Spot Ethereum ETFs recorded $47,40 million outflows as of September 3, per Soso Value data. The waning price movement falls in line with this market statistics.
Besides, it’s worth noting that U.S. presidential candidate Donald Trump’s upcoming crypto project is anticipated to be built on Ethereum and Aave blockchains.
Solana Price Today
The crypto SOL’s price experienced a 6% dip in value to reach $128 today. Solana’s intraday lows and highs were $123.61 and $135.75, respectively.
Sui Chung, the CEO of CF Benchmarks, has recently refuted the chances of a SOL ETF happening.
XRP Price Today
Simultaneously, XRP price cracked 2% over the past day and is currently trading at $0.5527. The crypto’s intraday low and high were recorded as $0.5399 and $0.5719, respectively.
Meme Coins Prices Today
Similarly, the meme coins sector has mirrored a waning movement today. Dogecoin (DOGE) price witnessed a 3% dip in value and is currently trading at $0.09577. Also, Shiba Inu (SHIB) price fell 4% over the past day to reach $0.0000131.
Even PEPE, WIF, and FLOKI prices dipped 5%-7% today.
Top Crypto Gainers Prices Today
Bitcoin SV
Bitcoin SV (BSV) price has gained nearly 3% today and is currently sitting at $45.08. Its 24-hour low and high were $43.01 and $45.22, respectively.
Sui
SUI price gained roughly 2% to trade at $0.8018 today. The coin’s intraday low and high were $0.7556 and $0.8355, respectively.
Top Crypto Losers Prices Today
Fantom
Fantom (FTM) price crashed 11% over the past day and is currently trading at $0.3823. The coin’s intraday lows and highs were $0.3721 and $0.4273, respectively.
Bittensor
Bittensor (TAO) price tanked 11% in the past 24 hours, reaching $251. Its intraday lows and highs were $241.15 and $279.85, respectively.
Brett
BRETT price plunged 10% to $0.0688 today. The coin’s 24-hour low and high were $0.06516 and $0.07645, respectively.
Nonetheless, the hourly time frame charts for cryptocurrencies have continued to raise concerns among investors. BTC price slipped 0.28% within an hour, while ETH slipped 0.47%, fueling speculations on crypto prices today.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
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.
Source link
Business intelligence firm MicroStrategy is doubling down on its Bitcoin strategy by discussing new financing options to fund the BTC purchase. As a result, the firm has announced a special meeting of shareholders to vote on proposals that aim at advancing the 21/21 plan. The goal is to enhance the company’s capital-raising capabilities while aligning director compensation with the Bitcoin-centric approach.
MicroStrategy Holds A Special Meeting With Shareholders
Soon after announcing a $516 million Bitcoin purchase on Monday, MicroStrategy announced its plans to hold a special meeting with shareholders to discuss further financial options and increase its Bitcoin holdings. As part of its 21/21 plan, the company to focus on enhancing its capital-raising capabilities further. Below are some of the firm’s key proposals.
- Increase in Class A Shares: The company seeks approval to raise the number of authorized Class A shares from 330 million to 10.33 billion, enabling more flexibility for future capital-raising efforts.
- Expansion of Preferred Shares: The authorized preferred shares would increase from 5 million to 1.005 billion. It will help in broadening financing options to support strategic initiatives.
- Amendment to Equity Incentive Plan: Proposed changes to the 2023 Equity Incentive Plan include automatic equity awards for newly appointed directors. This will ensure alignment with the company’s Bitcoin-focused vision.
This signifies Michael Saylor’s complete commitment towards MicroStrategy’s Bitcoin-centric strategy. In the last four years, the company has accumulated 439,000 Bitcoins, currently valued at approximately $42 billion. Besides, it has also propelled the company’s valuation to soar to $82 billion, an 80x surge after the company implemented its BTC plan for the first time in 2020.
This massive accumulation makes MicroStrategy the fourth-largest Bitcoin holder behind Bitcoin founder Satoshi Nakamoto, BlackRock Bitcoin ETF (IBIT), and crypto exchange Binance.
MSTR Stock on Downward Trajectory Despite Nasdaq 100 Inclusion
The MicroStrategy stock has been on a downward trajectory despite its inclusion in the Nasdaq 100 Index earlier in December. On Monday, the MSTR stock price corrected 8.78% slipping all the way to $332 levels. With this, it has extended its weekly losses to 19% and monthly losses to 17.65%. From its all-time high of $472 in November, the MSTR stock has corrected 30%. However, it has still been up by a massive 384% since the beginning of 2024.
Michael Saylor also remains hopeful of growth during the Donald Trump administration tenure as he proposing a strategic Bitcoin reserve to help the US pay its $36 trillion national debt. Commenting on the Republican win, Saylor said:
“With the red sweep, Bitcoin is surging up with tail winds, and the rest of the digital assets will also begin to surge. Taxes are coming down. All the rhetoric about unrealized capital gains taxes and wealth taxes is off the table. All of the hostility from the regulators to banks touching Bitcoin”.
Following last week’s all-time high of $108K, the Bitcoin price has witnessed increased selling pressure. In the last 24 hours, BTC has corrected another 2% extending its weekly losses to 11.52% and eyeing a further drop to $90,000. The Coinglass data shows $65 million in BTC liquidation with $45 million in long liquidations.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
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.
Source link
The crypto prices today showed mixed trends, with Bitcoin (BTC) trading below $94,000. BTC has been on a week-long decline after reaching an all-time high of $108,000. Major altcoins like Ethereum (ETH), XRP, and Solana (SOL) gained 3% to 5% in the last 24 hours, showing signs of recovery.
Virtual Protocol (VIRTUAL) became the top gainer, soaring by 35% in the last 24 hours. Zcash (ZEC) followed closely as the second-highest gainer, with a 20% increase during the same period.
The global crypto market cap rose approximately 2% to $3.32 trillion, while trading volume grew by 20% to $170 billion. The Fear and Greed Index stands at 55, indicating neutral sentiment. Here’s a quick snapshot of the top cryptocurrencies by market capitalization and price movements.
Crypto Prices Today: BTC, ETH, XRP, and SOL Show Mixed Trends
Bitcoin price fell below $94K, while Ethereum, XRP, and Solana gained 3% to 5% in the last 24 hours. Meanwhile, the IRS announced that crypto staking rewards are taxable amid an ongoing lawsuit challenging the decision.
Bitcoin Price Today
Bitcoin (BTC) price was trading at $93,984, with a 24-hour low of $92,526 and a high of $96,545. Its market cap stood at $1.86 trillion, with $62 billion in trading volume. Bitcoin’s market dominance dropped to 56.52%, slightly lower than yesterday.
As per SoSo Value, BTC ETFs recorded $276 million in outflows. BlackRock, after a long time, saw an outflow of $72 million. Ark & 21Shares had the largest outflow at $87 million, followed by Fidelity with $71 million and Grayscale at $57 million.
Michael Saylor’s MicroStrategy grabbed attention again, adding more Bitcoin to its reserve. Just last week, the company purchased 15,350 BTC for $1.5 billion, and it has now bought even more, reinforcing its bullish stance on Bitcoin.
Ethereum Price Today
Ethereum (ETH) price was trading at $3,383, marking a 4% increase over the last 24 hours. Its 24-hour low and high were $3,263 and $3,466, respectively. The market cap stood at $407 billion, with $32 billion in trading volume and a market dominance of 12.35%.
ETH ETFs witnessed a mixed trend, with a net outflow of $75 million. BlackRock led the decline with $103 million in outflows, while Grayscale and Fidelity added approximately $15 million and $12 million to their ETFs on Monday.
In other news, Ethereum whales have turned active as the price dipped to $3,100 recently. Large withdrawals from Binance signal growing confidence among big players in ETH’s potential for a future rally despite the recent volatility.
XRP Price Today
XRP price was trading at $2.23, reflecting a 4% increase in the last 24 hours. Its 24-hour low and high were $2.141 and $2.271, respectively. With a market cap of $127 billion and a trading volume of $8.99 billion, XRP remains the 4th largest cryptocurrency by market cap. In the context of crypto prices today, XRP price is gaining attention, with analysts predicting a potential 60% surge driven by strong whale activity, the RLUSD stablecoin launch, and growing optimism around the possible XRP ETF approval.
Solana Price Today
Solana (SOL) price was up by 5%, trading at $188. Its 24-hour low and high were $179 and $193, respectively. With a market cap of $90 billion and a trading volume of $4.63 billion, Solana shows resilience in the market. In the context of crypto prices today, weekly whale inflows for Solana reached $1.7 million amid the broader crypto market dip. Despite hitting a monthly low of $177.21, Solana’s price charts signal an early recovery.
Meme Crypto Prices Today
Meme coins have also shown signs of recovery today. Dogecoin (DOGE) was up by approximately 4%, trading at $0.3195, while Shiba Inu (SHIB) also gained 4%, trading at $0.00002219. Other top meme coins like BONK, PEPE, and WIF were up by 2% to 4% in the last 24 hours. BONK is planning to burn 1 trillion tokens as part of its Christmas celebration, with the founder targeting a price of $0.11.
Top Crypto Gainer Prices Today
Virtual Protocol
VIRTUAL price surged by 35% in the last 24 hours, now trading at $3. The crypto prices today show its 24-hour low and high at $2.41 and $3.135, respectively. The market cap stands at $3.08 billion, with a trading volume of $368 million.
Zcash
ZEC price was trading at $64.96, reflecting a 20% increase in the last 24 hours. Crypto prices today show its 24-hour low and high at $57.80 and $68.31, respectively. The market cap stands at $1 billion, with a trading volume of $180 million.
Aave
AAVE price was up by 19%, ranking 3rd among today’s top gainers. It is trading at $377, with a 24-hour low and high of $320 and $388, respectively. The market cap is $5.68 billion, with a trading volume of $1.53 billion.
Top Crypto Loser Prices Today
BitTorrent
BTT price was the lowest performer for today, with a 2% drop in price in the last 24 hours. It was trading at $0.00000114, with a market cap of $1.11 billion and a trading volume of $45 million in the last 24 hours.
Besides this, the hourly chart is showing positive momentum with Bitcoin (BTC), Ethereum (ETH), and major altcoins in the green. Hyperliquid (HYPE) is up by 5% in the last hour. Crypto prices today reflect this shift in momentum, indicating a possible recovery as key coins show positive movement.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
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.
Source link
Elon Musk xAI has raised $6 billion in its latest funding round, according to a filing with the U.S. Securities and Exchange Commission. This round adds to the $6 billion raised earlier this year, bringing the company’s total funding to $12 billion. The capital injection positions xAI to expand its generative AI initiatives and enhance its competitive edge.
Elon Musk xAI Achieves $12B Total Funding After Latest $6B Round
According to a recent report, Elon Musk xAI has successfully secured $6 billion from investors, including Andreessen Horowitz, BlackRock, Fidelity, Nvidia, and others. This latest funding round exclusively involved previous investors, many of whom had supported Musk’s acquisition of X (formerly Twitter).
The funds bring xAI total capital raised to $12 billion. The company plans to use this funding to accelerate the development of its generative AI model, Grok, and expand its ecosystem. This substantial financial backing positions the firm to compete with industry leaders such as OpenAI and Anthropic.
Moreover, the Grok AI model, developed by xAI, powers a range of features on X, including a chatbot available to premium and free users in select regions. Known for its functionality, Grok can generate images through the Flux generator, analyze visuals, and summarize trending news.
In October, xAI launched an API allowing developers to integrate Grok into third-party apps and platforms. The company also introduced a standalone iOS app for testing, further extending its generative Artificial Intelligence capabilities.
Memphis Data Center and Infrastructure Upgrades
To support its ambitious goals, Elon Musk xAI operates a Memphis data center equipped with 100,000 Nvidia GPUs. The facility, constructed in just 122 days, currently relies partly on diesel generators. According to the blog post, the company has plans to double the center’s capacity in 2025, securing approval for additional power.
The upgraded infrastructure will also benefit Tesla, with plans to integrate xAI’s developments into autonomous driving technologies. This expansion reflects Elon Musk’s vision to enhance AI applications across industries.
While Elon Musk’s xAI has made rapid advancements, it continues to face fierce competition. Rivals such as Anthropic and OpenAI have also secured billions in funding.
Following the growing competition, earlier this month, the Tesla CEO filed a lawsuit against OpenAI and Microsoft, accusing them of anti-competitive practices. The lawsuit alleges that OpenAI coerced investors to avoid supporting rivals like Musk’s xAI. Musk’s legal team claims that Microsoft’s $13 billion investment in OpenAI led to conflicts of interest and market manipulation
In addition, Meta CEO Mark Zuckerberg emphasized the need for stricter oversight to prevent nonprofit entities from exploiting their status for financial gain. Joining Elon Musk, Zuckerberg called for a formal investigation into OpenAI’s transition, highlighting potential misuse of tax-exempt donations and resources.
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. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. 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.
Source link
3 Key Metrics That Hint Bitcoin Price Will Hit $100K Soon
Macro Guru Raoul Pal Predicts Crypto Market Will Rally ‘Pretty Strongly’ Into Year-End – Here’s His Outlook
Blockchain auditor Hacken launches AI-powered MiCA-compliance tool for crypto firms
Crypto in 2024: A Game-Changing Year for Investors
Philippines SEC releases new crypto regulatory framework draft
Another Publicly Traded Firm Just Adopted a Bitcoin Reserve Strategy
MicroStrategy Announces Special Shareholders Meeting to Buy More Bitcoin
These 2 Solana killers have potential turn $1000 into $100k in the next 10 week
BTC Touches $94K, VIRTUAL Soars 35%, ZEC Gains 20%
Trump Makes More Pro-Crypto Appointments
Solaxy presale raises $4.5M for Solana Layer 2 solution
Elon Musk xAI Secures $6B To Boost Generative AI Expansion: Details
Metaplanet Bitcoin Reserves Grow With Fresh $61 Million Purchase
Investors turn to Lightchain AI 3000x potential after PEPE drop
Moonpay In Talks To Acquire Coinbase Commerce Rival Helio
182267361726451435
Why Did Trump Change His Mind on Bitcoin?
Top Crypto News Headlines of The Week
New U.S. president must bring clarity to crypto regulation, analyst says
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
Bitcoin Open-Source Development Takes The Stage In Nashville
Ethereum, Solana touch key levels as Bitcoin spikes
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
Ethereum Crash A Buying Opportunity? This Whale Thinks So
Shiba Inu Price Slips 4% as 3500% Burn Rate Surge Fails to Halt Correction
Washington financial watchdog warns of scam involving fake crypto ‘professors’
‘Hamster Kombat’ Airdrop Delayed as Pre-Market Trading for Telegram Game Expands
Citigroup Executive Steps Down To Explore Crypto
Mostbet Güvenilir Mi – Casino Bonus 2024
NoOnes Bitcoin Philosophy: Everyone Eats
3 months ago182267361726451435
Donald Trump5 months agoWhy Did Trump Change His Mind on Bitcoin?
24/7 Cryptocurrency News4 months agoTop Crypto News Headlines of The Week
News4 months agoNew U.S. president must bring clarity to crypto regulation, analyst says
Price analysis4 months agoWill XRP Price Defend $0.5 Support If SEC Decides to Appeal?
Opinion5 months agoBitcoin Open-Source Development Takes The Stage In Nashville
Bitcoin5 months agoEthereum, Solana touch key levels as Bitcoin spikes
Bitcoin5 months agoBitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
✓ Share: