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BTC & Altcoins Rebound, ORDI Soars 20%

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2 weeks ago

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Cryptocurrency Prices Today (September 3): The current market state has ignited considerable investor optimism globally. Bitcoin (BTC) price regained a pumping movement to trade above the $59K level, whereas Ethereum (ETH), Solana (SOL), and XRP gained roughly 3%-5% today. Simultaneously, the global crypto market cap rose 3.29% over the past day to $2.08 trillion. Also, the total crypto market volume jumped 3.44% over the past day to $57.03 billion.

Here’s a collection of some of the top cryptocurrencies by market cap and their price movements today, September 3.

Cryptocurrency Prices Today: Market Rebound Sparks Optimism

Following a waning movement witnessed recently, today’s price rebound comes as optimistic news for the broader market. Bitcoin topped $59K, while Ethereum traded above $2,500. Similarly, Solana and XRP prices reversed previous slumps.

Bitcoin Price Today

BTC price illustrated a nearly 3% increase in value over the past day and is currently trading at $59,156. The flagship crypto’s 24-hour lows and highs were $57,398.98 and $59,815.06, respectively.

This pumping movement primarily aligns with U.S. spot Bitcoin ETFs halting their outflow journey as of September 2, as the market was closed. Moreover, the futures OI rose 2.20% in the past 24 hours to $30.35 billion, aligning with the gaining movement.

It’s also worth mentioning that a smart whale was recorded bagging 1,100 BTC from Binance recently. This accumulation hints at bolstered movements for the cryptocurrency ahead.

Meanwhile, Bitcoin’s dominance stood at 56.30%, a 0.04% fall over the day. The crypto’s market cap was evaluated as $1.17 trillion.

Ethereum Price Today

Simultaneously, ETH price jumped 3% in the past 24 hours and is currently sitting at $2,519. The coin’s intraday lows and highs were $2,434.43 and $2,563.09, respectively.

Nonetheless, a recent ETH price analysis by CoinGape Media suggests that the second-largest crypto by market cap risks a 22% downside momentum. This is primarily attributable to rising exchange supply and death cross formation.

Also, ETH futures OI surged 2.5% to $10.65 billion, further falling in line with today’s price upswing.

Solana Price Today

The crypto SOL witnessed a nearly 5% pump in value to trade at $135 today. Solana’s intraday lows and highs were $127.27 and $137.14, respectively.

SOL’s futures OI jumped nearly 3% to reach $2.08 billion today. Solana’s market cap rested at $63.33 billion.

XRP Price Today

XRP price gained 3% over the day to trade at $0.5669. Its 24-hour lows and highs were $0.5455 and $0.5721, respectively. Despite massive XRP whale dumps recorded over the past day, the Ripple-backed cryptocurrency witnessed a price rebound today.

Meme Coins Prices Today

Simultaneously, Dogecoin (DOGE) price gained over 4% and is trading at $0.09959. Also, Shiba Inu (SHIB) price saw a 3% uptick in value and is sitting at $0.00001371.

Even PEPE, WIF & BONK Soared 5%-12% today, leading the meme coins sector gains.

Top Cryptocurrency Gainers Prices Today

ORDI

ORDI price’s intraday gains totaled a whopping 20% today. The token traded at $32, with 24-hour lows and highs being $26.17 and $32.41, respectively.

SATS

1000SATS price soared 14% over the past day to reach $0.0003108. The coin’s 24-hour lows and highs were $0.0002693 and $0.0003163, respectively.

Dogwifhat

WIF price pumped 14% in the past 24 hours and is currently trading at $1.61. Its intraday lows and highs were $1.39 and $1.63, respectively.

Top Cryptocurrency Losers Prices Today

The top losers list consisted of only two coins.

TRON

TRX price slipped 1% over the past day, defying the broader market trend. TRX rested at $0.1541, with its intraday lows and peaks at $0.1538 and $0.1569, respectively.

Immutable

IMX price waned 0.6% over the past day to trade at $1.27. Its intraday lows and highs were $1.24 and $1.29, respectively.

Besides, the hourly time frame charts sparked further speculations on the cryptocurrency prices today. BTC price slipped 0.27%, whereas ETH slipped 0.45%, piquing investor interest globally.

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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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24/7 Cryptocurrency News

Texas Court Dismisses Consensys Suit Against SEC on Procedural Basis

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3 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?

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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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