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BTC Backtracks To $56K, But DOGS & HNT Soar 7%-8%

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3 months ago

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Crypto Prices Today (September 6): The global cryptocurrency market cap slipped nearly 0.5% to rest below the $2 trillion level today, raising investor concerns. Bitcoin (BTC) price backtracked to the $56K level after regaining an upward movement recently. Meanwhile, Ethereum (ETH), Solana (SOL), and XRP mimicked a waning movement alongside the broader market trend. However, Helium (HNT) and DOGS defied the broader trend to emerge among the day’s top gainers.

Crypto Prices Today: BTC, ETH, SOL, and XRP Undo Gains

Notably, the global crypto market cap rested at $1.99 trillion today, a 0.44% decrease over the past day. Moreover, the total market volume saw a 3.75% decrease to $62.45 billion. Here’s a brief report on some of the top cryptocurrencies by market cap and their price movements today, September 6.

Bitcoin Price Today

BTC price waned 0.6% in the past 24 hours and is currently resting at $56,737. The coin stooped to a $55,712.45 low in the past 24-hours, raising concerns. Whilst, $57,284.30 remains the 24-hour peak.

Also, Bitcoin ETFs recorded a whopping $211.15 million in outflows as of September 5, per Soso Value data, aligning with the BTC price fall today. Nonetheless, Spotobchain’s data illustrated a massive 1,145 BTC whale accumulation recently, stirring speculations on future price movements.

Bitcoin’s dominance today rested at 56.21%, a nearly 0.16% decrease in the past 24 hours. The flagship crypto’s market cap slipped to $1.12 trillion.

Ethereum Price Today

ETH price fell 0.5% in the past 24 hours and is currently trading at $2,393. The coin’s intraday low and high were $2,348.86 and $2,418.02, respectively.

Notably, the slight fall in price aligns with $152,72K outflows in spot Ethereum ETFs. Meanwhile, Monochrome’s recent plans for an ETH ETF garnered additional attention to the token within the Australian landscape. Also, ETH’s market cap rested at $287.9 billion.

Solana Price Today

On the other hand, SOL price slipped 0.6% in the past 24 hours to reach $131. Solana’s intraday low and high were recorded as $128.14 and $135.09, respectively.

It’s worth noting that Bybit recently launched the bbSOL, its first exchange-based Liquid Staking Token (LST) on Solana. Meanwhile, the crypto’s market cap rested at $61.11 billion today.

XRP Price Today

Simultaneously. XRP price slipped 1% to trade at $0.5461. The coin’s intraday low and high were $0.5411 and $0.5548, respectively. This waning movement primarily aligns with a nearly 57M XRP whale dump recorded by the tracker Whale Alert.

Meme Coins Prices Today

Besides, Dogecoin (DOGE) noted remarkable gains today, also defying the broader crypto market trend. DOGE price today rested at $0.09895, a roughly 2% uptick over the past day. However, Shiba Inu (SHIB) price slipped 0.2% to $0.00001335 today.

Similarly, Pepe Coin (PEPE), dogwifhat (WIF), and FLOKI prices waned by 1%-2%.

Top Crypto Gainers Prices Today

DOGS

TON-based DOGS price soared nearly 8% in the past 24 hours and is currently trading at $0.00109. The coin’s intraday low and peak were $0.001003 and $0.001119, respectively.

Helium (HNT)

HNT price gained roughly 7% in the past 24 hours and rests at $8.28. Its intraday lows and highs were $7.80 and $8.50, respectively.

Toncoin (TON)

TON price soared 6% over the past day and is currently sitting at $4.85. The coin’s 24-hour low and high were $4.53 and $4.88, respectively.

Top Crypto Losers Prices Today

MultiversX (EGLD)

EGLD price cracked 6% over the past day and currently rests at $24.95. The coin’s intraday low and high were $24.84 and $26.81, respectively.

UNUS SED LEO

LEO price slipped 5% in the past 24 hours and is currently sitting at $5.53. The coin’s 24-hour lows and highs were $5.48 and $5.91.

Bittensor (TAO)

TAO price tanked 4% over the day and is currently trading at $241. Its 24-hour lows and highs were $236.65 and $253.20, respectively.

Besides, the hourly time frame charts spark further investor speculations on the crypto prices today. BTC slipped 0.16%, whereas ETH waned 0.24%, raising concerns over future movements.

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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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Cardano Price Hits $1 But Analyst Says This Is Just The Start

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3 hours ago

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November 23, 2024

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Similarly,

Nonetheless, experts claim that this has only begun, with some contributing on the projection of the future events. As ADA enjoys the bullish on-chain metrics, the question that continues to be asked is; where is ADA headed next?

Cardano Price Records 30% Surge to $1 Amid Bullish Metrics

After the recent crypto rally, Cardano price has grown by 30%, with a current price of $1.06 within 24 hours. The present value is the highest ADA has reached since April 2022. Trading activity also rose sharply with volumes going up by 150% to $6.7 billion in a single day.

More so, the crypto rally aligns with recent analysis predicting ADA price could cross the $1 mark this weekend. Analysts have suggested that the crypto is yet to fully realize its potential. Ali Martinez expressed optimism stating,

“$ADA has surged nearly 200% in the last three weeks! But that’s nothing compared to what is coming.”

As one of the leading crypto analysts, Ali Martinez claims that all that has happened with Cardano is a warm-up to even bigger gains. Martinez noted that ADA whales with stakes between $1 million and $10 million have seen their ADA holding rise by over 100% in the last month. This has resulted in large transactions exceeding $22 billion daily on the network, signifying robust accumulation activity.

From a technical standpoint, Martinez noted that ADA is mirroring its previous bullish cycle. If this pattern continues, ADA could aim for targets as high as $6. However, he emphasized that the $0.80 support level, where 1.2 billion ADA were purchased by 48,000 addresses, remains crucial for sustaining the current bullish trend.

On-Chain Metrics Show Strong Momentum

In addition, on-chain data underscores the bullish sentiment surrounding ADA. According to CoinGlass, Cardano price has benefited from a 34% increase in open interest, which now stands at $972 million.

Moreover, short liquidations have reached $9.77 million in the past 24 hours, indicating that traders betting against ADA’s rally were forced to close their positions. This forced buying pressure has further fueled ADA price growth during the ongoing crypto rally.

Additionally, data from Santiment highlights Cardano’s tripling market cap over the past 17 days. Concurrently, the crypto recorded $165 million in realized profits in a single day, the highest in eight months. More so, the data show Social media discussions about ADA have reached an 11-month high, underlining the growing interest within the community.

Source: Santiment ADA priceSource: Santiment ADA price
Source: Santiment

Another analyst, Dan Gambardello, noted that ADA’s trajectory over the past three weeks, which saw nearly 200% growth, mirrors its previous bullish patterns. He identified key support zones around $0.80 and resistance near $1.05, suggesting further upside potential.

Gambardello was also keen to point out that, based on this narrative, Cardano price could potentially have its sights set on a $10 target. This recent rally has triggered different analysts and investors weigh in on possible price targets ADA, ranging from $1.00 to as high as $15.

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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. 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.





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Bitcoin Miner MARA Buys Another 5771 BTC As Price Nears $100k

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7 hours ago

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November 22, 2024

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Bitcoin miner MARA Holdings has expanded its cryptocurrency portfolio by purchasing an additional 5,771 BTC for $572 million. The acquisition was completed at an average price of $95,554 per Bitcoin, according to the company.

With its 0% convertible note offering, the company has achieved a 35% BTC yield per share and now owns a total of approximately 33,875 BTC, currently valued at $3.4 billion based on Bitcoin’s spot price of $99,000. This move follows Bitcoin’s ongoing rally, with the cryptocurrency nearing the $100,000 milestone amid increasing institutional demand and limited supply.

Bitcoin Miner MARA’s 0% Convertible Notes Drive Bitcoin Accumulation

MARA Holdings has leveraged its 0% convertible senior note offering to fund its Bitcoin acquisitions and other corporate activities. The company raised $1 billion from its latest offering, generating $980 million in net proceeds after fees and discounts. MARA revealed that a portion of these proceeds has been used to purchase 5,771 BTC at an average price of $95,554 per Bitcoin.

This recent acquisition reinforces MARA’s strategy to accumulate Bitcoin as a corporate asset. The company now holds approximately 33,875 BTC, solidifying its position as one of the largest Bitcoin-holding miners globally. In a statement, the company reported a 35% BTC yield per share, underscoring the financial benefits of its aggressive Bitcoin accumulation strategy.

By issuing zero-coupon convertible notes, MARA has been able to access funds without the immediate burden of interest payments, allowing the company to focus on expanding its Bitcoin reserves and scaling its mining operations.

Bitcoin Rallies Toward $100k

Bitcoin continues to surge, with its price reaching $99,742 earlier today and nearing the highly anticipated $100,000 milestone. This price rally has fueled optimism across the cryptocurrency market, with Bitcoin’s total market capitalization now surpassing $1.9 trillion.

Galaxy Digital CEO Mike Novogratz described Bitcoin’s price movement as “a big moment,” highlighting the resilience of the crypto community during volatile times. “Shoutout to the crypto community. You’ve endured years of uncertainty and headwinds,” he noted in a recent social media post.

The rally has been driven by several factors, including rising institutional interest, expectations of regulatory clarity, and Bitcoin’s upcoming halving event in 2024, which is expected to reduce supply while demand continues to grow. However, some analysts have warned of potential short-term BTC price corrections as the market faces increased leverage and speculative activity.

Marathon Digital’s Growth Strategy Mirrors Saylor’s Playbook

MARA’s latest Bitcoin purchase aligns with strategies popularized by MicroStrategy’s Michael Saylor, who has championed Bitcoin as a corporate reserve asset. Saylor has often advocated for accumulating Bitcoin during dips, leveraging corporate debt to acquire the asset for long-term growth.

MARA’s use of convertible notes to fund its Bitcoin acquisitions mirrors this approach. The company has strategically positioned itself to benefit from Bitcoin’s price appreciation, viewing the cryptocurrency as a store of value and a hedge against inflation.

In addition to acquiring Bitcoin, MARA plans to allocate funds from its convertible note offering to expand mining operations, pursue strategic acquisitions, and repay debt. This diversification ensures the company remains financially stable while increasing its exposure to Bitcoin’s growth potential.

Regulatory Developments and Institutional Demand Support Bitcoin’s Momentum

The increasing corporate interest in Bitcoin comes amid growing optimism surrounding regulatory clarity and the potential approval of a U.S. spot Bitcoin ETF. Spot ETF inflows are expected to make Bitcoin more accessible to traditional investors, further boosting demand.

Meanwhile, U.S. Senator Cynthia Lummis recently suggested that Bitcoin could play a role in reducing national debt over the next 20 years, sparking interest in its long-term economic potential. As institutional and corporate players like MARA continue to strengthen their Bitcoin positions, the cryptocurrency’s path toward $100,000 could serve as a catalyst for further adoption.

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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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Solana Hits New ATH On Huge Whale Accumulation, More Gains Ahead?

Published

24 hours ago

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November 22, 2024

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Solana has once again caught the attention of market participants as it hit a new ATH on Friday. Notably, SOL witnesses a sustained rally against the backdrop of massive whale accumulations. Now, as the crypto is noting a buying pressure amid the bull market, market watchers anticipate further gains in the crypto ahead.

Solana Hits New ATH Amid Massive Whale Buying

According to data by Lookonchain on November 22, whales continue to accumulate Solana amid its upside movement to a new ATH. According to the data, a fresh wallet was recorded accumulating 42,443 SOL, worth $11.14 million, from Binance over the past two days. This accumulation was made by the wallet address “Au1VJ…q8hF8”, per Solscan’s data.

Simultaneously, another massive accumulation recorded over the past day has weighed the scales toward the bullish side of the asset. Lookonchain revealed that a whale bagged 100K SOL, worth $23.86 million, and staked it over the last two days. Notably, Solscan’s data showed this whale address as 7L1HBfMH.., while the whale’s SOL holdings totaled $55.58 million.

Overall, these accumulations, underscoring increased buying pressure on the asset, birthed significant market optimism on future price movements. For context, large-scale investors’ accumulations signaled heightened market confidence in the asset’s potential to offer gains ahead.

Moreover, with the soaring odds of a Solana ETF further weighing in, the current market sentiment for one of the leading crypto by market cap remains highly bullish. A recent CoinGape Media report further revealed that the SEC has now started engaging with the SOL ETF issuers regarding the filed S-1 registration statements. Besides, Bitwise has also filed for Solana ETF recently, further fueling market interest.

Coin Price Gians 8% Breaking ATH

SOL price today witnessed gains worth 8% intraday and was trading at $262.51 at the time of reporting. The coin’s 24-hour low was $237.33, whereas the current price level marked a new ATH. Notably, the weekly chart illustrated a 26% pump for the coin, followed by a monthly upswing of 59%. This bullish movement falls in line with massive buying pressure on the asset, as seen by the abovementioned whale transactions.

Simultaneously, Coinglass data indicated that the coin’s futures OI surged 15% to $6.01 billion. Moreover, the derivatives volume noted a 61% uptick to $19.03 billion. Overall, this stat indicated a burgeoning market interest in the asset, further paving an optimistic path for future price movements.

Also, a recent Solana price analysis by CoinGape Media pointed out that the coin eyes a $5,000 price target as it has already noted a significant surge from its 2023 lows. Crypto market watchers continue to monitor the token for further price action shifts in light of the abovementioned statistics.

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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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