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BTC Tops $66K, Altcoins Mirror Bullishness

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5 hours ago

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The cryptocurrency prices on Saturday ignited substantial investor optimism across the globe. Bitcoin (BTC) price gained to cross the $66K level today, while Ethereum (ETH), Solana (SOL), and XRP mirrored an upward trajectory. Simultaneously, Pepe Coin (PEPE) led the broader market gains, soaring nearly 20%.

Meanwhile, the global crypto market cap jumped 2.43% over the past day to $2.33 trillion. However, the total market volume witnessed an 8.26% decline in value to $78.21 billion today. Here’s a brief collection of some of the top cryptocurrencies by market cap and their price run on September 28.

Cryptocurrency Prices Today: BTC, ETH, SOL, & XRP Pump

BTC price topped the $66K level today, whereas ETH neared $2,700. Simultaneously, SOL and XRP prices gained 1-3% in the past 24 hours. Whereas, PEPE, NOT, and FLOKI emerged among the day’s top gainers. Let’s take a closer look at the crypto prices today.

Bitcoin Price Today

BTC price gained 1.5% at the time of reporting and is currently trading at $66,093. The coin’s intraday low and high were recorded as $65,107.12 and $66,255.53, respectively. Today’s rising price action falls in line with the broader market trend. Also, it’s worth mentioning that spot Bitcoin ETFs recorded $494.45 million worth of inflows as of September 27, aligning with the pumping price action. However, Bitcoin’s dominance from yesterday slipped 0.20% to 56.13%. Besides, the flagship crypto’s market cap rested at $1.31 trillion today.

Ethereum Price Today

ETH price chart illustrated a nearly 2% increase in value to reach $2,691 today. The coin’s intraday low and high were recorded as $2,637.98 and $2,728.07, respectively. Notably, even spot Ethereum ETFs registered $58.65 million worth of inflows as of September 27, per Soso Value data. Ethereum’s market cap rested at $323.92 billion today. Whale Alert data for the past day indicated increased whale activity, adding to the intrigue surrounding the asset’s price movements.

Solana Price Today

The crypto SOL witnessed a 2% jump in price today and is currently trading at $158. The coin’s 24-hour low and peak were recorded as $155.68 and $160.98, respectively. Solana’s market cap rested at $74.38 billion today. A recent CoinGape Media report reveals that the coin’s price gained against the backdrop of bullish on-chain data for SOL.

XRP Price Today

Simultaneously, XRP price witnessed a 1% increase in value to reach $0.5904 today. The coin’s intraday low and high were recorded as $0.5853 and $0.597, respectively. XRP’s market cap rested at $33.38 billion today.

Meme Coins Performances Today

On the other hand, Dogecoin (DOGE) price gained nearly 6% in the past 24 hours to reach $0.1259. Similarly, Shiba Inu (SHIB) price soared roughly 10% in the past 24 hours to reach $0.00002097. Meanwhile, PEPE and FLOKI surfed along the day’s top gainers.

Top Cryptocurrency Gainers Prices Today

Pepe Coin

PEPE price surged by a whopping 20% in the past 24 hours and is currently trading at $0.00001135. The coin’s 24-hour low and high were $0.000009646 and $0.0000115, respectively.

Notcoin

NOT price mirrored a bullish sentiment, gaining nearly 16% to $0.00988 today. The crypto’s intraday low and high were $0.008649 and $0.01063, respectively.

FLOKI

FLOKI price noted a 10% uptick in value to reach $0.0001709 today. The coin’s 24-hour low and high were $0.0001571 and $0.0001763, respectively.

Top Cryptocurrency Losers Prices Today

Popcat

POPCAT price slipped over 5% to rest at $0.9436 today. Its 24-hour low and high were $0.9169 and $1.08, respectively.

eCash

XEC price waned nearly 4% over the past day to reach $0.00003823. The coin’s intraday low and high were $0.00003779 and $0.00003941, respectively.

Sei

SEI price noted a 3% decrease in value to reach $0.4566 today. The coin’s intraday low and high were $0.4545 and $0.4796, respectively.

Besides, the hourly time frame charts sparked further speculations over the cryptocurrency prices today. BTC waned 0.04%, while ETH gained 0.02%, igniting uncertain investor sentiments across the broader market.

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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.





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Spot Ethereum ETF Inflows Show Why ETH Whale Selloff Is No Big Concern

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2 hours ago

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September 28, 2024

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After a few weeks of slow demand, the inflows into spot Ethereum ETF have shot up again amid the global liquidity boost following the Fed rate cuts. After a poor start to the week, inflows into spot Ether ETF have resumed again. Amid the liquidity pump in the market, institutions are once again looking at the Ethereum investment product. As a result, the Ethereum price continues to hold firm despite the ETH whale sell-offs over the past week.

Spot Ethereum ETF Inflows Surge Past $85 Million

This week, the total inflows into spot Ether ETFs surged past $85 million, after several weeks of outflows. This comes as the Ethereum price shows strength surging to $2,700 and eying the next run to $3,000.

On Friday, September 27, the inflows into spot Ethereum ETF stood at $58 million with Fidelity FETH seeing the most inflows at $42.5 million. BlackRock’s ETHA came second with more than $11.5 million while Grayscale ETHE saw $10.7 million in outflows, per the data from Farside Investors.

Earlier this week, the Ether ETFs saw $80 million in outflows driving by massive outflows from Grayscale’s ETHE. However, the day after, BlackRock took the charge resuming inflows back into the investment products.

The recent inflows come when amid the constant sell-offs by Ethereum whale over the past week.

ETH Whale Selloff Continues

While the Ethereum ETF see inflows, the latest on-chain data shows that institutions have been offloading their ETH holdings in the latest price rally. As per the data from LookonChain, two major institutions offloaded Ethereum (ETH).

A wallet linked to Cumberland deposited 11,800 ETH, valued at $31.88 million, into Coinbase just seven hours ago. Similarly, ParaFi Capital withdrew 5,134 ETH (worth $13.83 million) from Lido and deposited it into Coinbase Prime six hours ago.

On the other hand, an ancient Ethereum whale wallet cashed out 12,979 ETH for $34.3 million this week, after nearly four months of hiatus. This whale originally withdrew 21,632 ETH from ShapeShift and Poloniex in 2016 when Ethereum was priced at just $7.074 per coin. Since May 2024, this wwhale has sold a total of 15,879 ETH, making $43.5 million at an average price of $2,739 per ETH.

It seems that the inflows into spot Ethereum ETFs are largely compensating for the ETH whale selloff during the past week.

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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.





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Coinbase Adds EigenLayer (EIGEN) To Listing Roadmap, Price To Rally?

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8 hours ago

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September 28, 2024

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Coinbase has included EigenLayer (EIGEN) in its future listing plan, which has been welcomed by the crypto enthusiasts. This comes at the same time as EigenLayer is starting the second round of its airdrop, called the “stakedrop,” which was launched on September 16th, 2024. The airdrop is the last step before EIGEN tokens are listed on exchanges and therefore increase the market expectation.

Coinbase Adds EigenLayer (EIGEN) To Listing Roadmap

The addition of EigenLayer (EIGEN) into Coinbase’s roadmap is in line with the exchange’s plan to increase the number of assets available to traders and investors. When adopting EIGEN, the crypto exchange expands its series of the Ethereum-based assets that the company offers.  The Ethereum network (ERC-20) contract address for EigenLayer (EIGEN) is 0xec53bF9167f50cDEB3Ae105f56099aaaB9061F83.

This is part of its new listing review process which has shifted from the previous ‘assets under consideration’ to a ‘roadmap’ section. This is to enable the investors to have better and frequent information on the new listing schedules in the market so that they can make better and informed decisions.

Crypto exchange Coinbase has had previous price increases after the announcement of assets roadmap. For instance, Zetachain (ZETA) gained over 20% after it was added to the roadmap. Likewise, Gravity (G) also experienced a price surge. As a result,once EIGEN becomes tradable it may exhibit similar trend which may lead to optimism of a rally. This expectation aligns with price recovery expectations of Hamster Kombat after the exchange disclosed support for the token.

Warnings on Premature Transfers and Trading

Although the listing has generated interest, Coinbase has informed its customers that it will not enable transfers and trading for EIGEN until the listing is complete. Investors are advised not to deposit these tokens early as this may result to total loss of the invested funds. 

The warning reminds users of the need to follow official announcements and not to start trading until they receive the green light from the Crypto exchange.

Besides the roadmap listing, the Crypto exchange has added the label “Experimental” for new assets. This labeling usually relates to the assets that may be characterized with higher risks and volatility since they are relatively new to the market. EIGEN could well fit into this category especially once trading is underway, however, there is scope for even higher rewards based on market conditions.

EigenLayer Second Season Stakedrop

Concurrently, EigenLayer’s second season airdrop, or “stakedrop,” is currently underway, allowing participants to claim tokens between September 16, 2024, and March 16, 2025. However, the airdrop has received mixed reactions from the crypto community. One point of contention is that only 15% of the total EIGEN token supply is being distributed through the airdrop, leading to disappointment among some community members who expected a larger allocation. 

Despite these criticisms, EigenLayer remains a notable player in the decentralized finance (DeFi) space, with a Total Value Locked (TVL) of $11.9 billion, ranking third behind Lido and Aave.

Crypto researcher Ignas has estimated that EIGEN’s market capitalization will be around $600 million when trading begins, with approximately 87 million tokens distributed during the second airdrop season. This figure accounts for about 5.2% of the total supply. While the pre-market price of EIGEN has been declining, analysts are closely watching to see if Crypto exchange Coinbase’s listing could spark a price rally similar to previous assets that joined the platform’s roadmap.

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Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

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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XRP Ledger Rolls Out Two Major Upgrades, Will It Impact RLUSD?

Published

11 hours ago

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September 27, 2024

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The XRP Ledger (XRPL) has revealed two major updates, just after implementing another amendment recently, which have caught the eyes of the investors. Notably, this comes as anticipation is soaring over the potential launch of Ripple stablecoin RLUSD. Now, with Ripple’s continued development on the XRPL, speculation rises on how these upgrades might affect the stablecoin’s functionality and broader ecosystem.

XRP Ledger Implements Two Major Upgrades

According to XRPScan report, XRP Ledger implemented two major upgrades “fixEmptyDID” and “fixPreviousTxnID” on Friday, fueling market interests. Both these upgrades were backed by 31 validators, crossing the 28/35 threshold for the implementation.

The former upgrade primarily aims to stop the creation of empty DID ledger entries, which have previously taken up valuable space without offering any benefit. With this change, any transaction attempting to create such entries will show an error. Notably, this amendment is expected to improve the ledger efficacy without disrupting the existing process.

On the other hand, the latter upgrade focuses on enhancing transaction tracking. This would aid in tracing the history of ledger modifications by adding PreviousTxnID and PreviousTxnLgrSequence fields. Prior to the upgrade, some ledger entries lacked these critical fields, which made it tough to track the transaction history.

Meanwhile, both of these improvements streamline operations on XRPL and optimize the blockchain’s ability to manage data, paving the way for more complex applications in the future.

Will It Impact Ripple Stablecoin RLUSD?

Ripple has already started beta-testing its stablecoin on both XRPL and Ethereum networks. Recently, Ripple has issued two batches of its stablecoin with each having 485 RLUSD. Having said that, the attention is shifting to how these latest XRP Ledger upgrades might impact the stablecoin’s operation.

Meanwhile, Ripple President Monica Long has also confirmed that the launch of RLUSD is set for this year if it receives US approval. Besides, the stablecoin has also gained notable traction as it is expected to serve more areas as compared to Ripple’s native crypto XRP.

Long also said that DEXs on XRPL could benefit from the stablecoin’s efficacy, while XRP would be used for smaller crypto transactions. These comments suggest that the recent XRPL updates may strengthen the ecosystem for both RLUSD and XRP, offering greater functionality and flexibility across multiple applications.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

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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