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BTC Slips Below $61K, Altcoins Tumble on PlusToken Related Selloff

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1 month ago

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The crypto prices on Thursday sparked a bearish sentiment among market watchers globally. Bitcoin (BTC) price slipped back to the $60K level over the past day, whereas Ethereum (ETH), Solana (SOL), and XRP traded dominantly in the red territory. This waning movement aligns with massive selloffs looming in the wake of the PlusToken scam.

Simultaneously, the global crypto market cap dipped 1.94% in the past 24 hours to $2.13 trillion. Also, the total market volume decreased 2.91% to $67.22 billion. Here’s a brief report on some of the top cryptocurrencies by market cap and their price movements today, October 10.

Crypto Prices Today: BTC, ETH, SOL, & XRP Plunge

The crypto prices today have illustrated a bearish movement in the past 24 hours, raising severe investor concerns globally. BTC price slipped to the $60K level today, whereas ETH, SOL, and XRP cracked 1%-3% in the past 24 hours. The slumping movement comes against the backdrop of sluggish flows in Bitcoin and Ethereum ETFs over the past day. Further, selloffs related to the PlusToken scam have added to bearish concerns and price movements. Also, altcoins have mainly mirrored the broader market trend. Let’s delve deeper into the top coins’ prices today.

Bitcoin Price Today

BTC price chart showcased a nearly 2% dip in value and is currently sitting at $60,852. The coin’s intraday low and high were recorded as $60,314.22 and $62,508.84, respectively. Today’s waning movement comes against the backdrop of $44.47 million outflows in Bitcoin ETFs as of October 9, per Sosovalue data at press time that excludes BITB. Further, even the flagship crypto’s market dominance slipped 0.16% over the past day to 56.59%. BTC’s market cap rested at $1.2 trillion today. Despite the recent buzz echoing with the HBO documentary on BTC creator Satoshi Nakamoto, the coin continues to consolidate.

Ethereum Price Today

ETH price illustrated a drop of over 2% in the past 24 hours and is currently trading at $2,395. The coin’s intraday low and high were recorded as $2,350.95 and $2,469.21, respectively. This slumping movement comes against the backdrop of $0 million net flows in Ethereum ETFs as of October 9, excluding ETHW data. Ethereum’s market cap rested at $288.30 billion today. Meanwhile, the Chinese government appears to be preparing for a massive selloff of 7000 ETH recently sent to exchanges, birthing additional concerns among market participants.

Solana Price Today

Simultaneously, the crypto SOL witnessed a 3% dip in value to reach $140. The coin’s intraday low and high were $137.85 and $144.17, respectively. Solana’s market cap stood at $65.72 billion today. The coin rides along a bearish trend in-sync with the broader market sentiment.

XRP Price Today

Meanwhile, XRP price slipped nearly 1% in the past 24 hours and is currently trading at $0.5272. The coin’s 24-hour low and high were $0.5219 and $0.5339, respectively. XRP’s market cap was recorded to be $29.87 billion today.

Meme Coins Prices Today

Dogecoin (DOGE) price witnessed a nearly 1% fall and is trading at $0.1079 today. Similarly, Shiba Inu (SHIB) price dropped over 2% in value today and is sitting at $0.00001711. In the interim, PEPE, WIF, and BONK prices cracked 3%-5% in the past 24 hours, in line with the broader market trend.

Top Crypto Gainers’ Prices Today

Conversely, some coins have also defied the broader market trend today.

First Neiro On Ethereum Price

NEIRO price soared over 5% in the past 24 hours and is currently sitting at $0.001784. Its intraday low and high were $0.001618 and $0.001912, respectively.

Uniswap Price

UNI price noted gains worth 4% in the past 24 hours and is trading at $7.40. The coin’s 24-hour low and high were $7.08 and $7.42, respectively.

UNUS SED LEO Price

LEO price jumped over 1% to reach $6.06 today. The coin’s intraday low and high were $5.92 and $6.18, respectively.

Top Crypto Losers’ Prices Today

Aptos Price

APT price dipped 8.5% over the past day and is now trading at $8.42. The coin’s intraday low and high were $8.38 and $9.38, respectively.

THORChain Price

RUNE price slipped nearly 7% over the past day and is now sitting at $4.63. Its intraday low and peak were $4.55 and $5.06, respectively.

FTX Token Price

FTT price fell 6% in the past 24 hours and is now trading at $2.18. Its intraday low and high were $2.12 and $2.34, respectively.

Besides, the hourly time frame charts sparked further concerns over the cryptocurrency prices today as BTC slipped by 0.14% and ETH by 0.08%.

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

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4 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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“Crypto Dad” Chris Giancarlo Emerges Top For White House Crypto Czar Role

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8 hours ago

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November 22, 2024

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Chris Giancarlo, widely known as “Crypto Dad,” has emerged as the leading candidate for a newly proposed role of crypto czar in the White House under President-elect Donald Trump’s administration. The potential appointment underscores a strategic effort to advance crypto regulations and foster blockchain innovation in the United States.

This proposed position would be the first of its kind in the White House, aiming to bring clarity to the growing $3 trillion digital asset market. Chris Giancarlo, the former Chair of the Commodity Futures Trading Commission (CFTC), is known for his progressive approach to digital currencies and blockchain technologies.

Chris Giancarlo Leads Race for White House Crypto Czar Role Under Donald Trump

According to a Fox Business report, Chris Giancarlo is the top contender for the position of White House crypto czar, a role being considered by the Trump transition team to streamline crypto regulations and foster blockchain development.

As CFTC Chair from 2017 to 2019, Chris Giancarlo oversaw critical advancements in the digital asset space. This includes the launch of the first Bitcoin futures. He later co-founded the Digital Dollar Project, a nonprofit initiative exploring the potential of a U.S. central bank digital currency (CBDC). Giancarlo’s regulatory expertise and understanding of digital innovation position him as a key figure in shaping the future of the crypto sector.

The Trump administration aims to utilize this position to address industry concerns over the Biden administration’s perceived heavy-handed enforcement. The crypto czar would also collaborate with federal agencies to establish a framework for the $180 billion stablecoin market and enhance the overall regulatory landscape for blockchain and digital currencies.

Trump’s Strategic Approach to Digital Asset Policy

President-elect Donald Trump has expressed plans to make the U.S. a global leader in cryptocurrency and blockchain innovation. Part of this strategy includes appointing a crypto czar to advance policies to support the industry’s growth.

Trump has also proposed the establishment of a presidential crypto advisory council to address ongoing regulatory challenges. This initiative aims to align federal policies with industry needs, fostering a competitive environment for blockchain businesses. The council will explore the creation of a Bitcoin reserve as part of the administration’s broader crypto policy agenda.

The transition comes as current SEC Chair Gary Gensler announced his resignation effective January 20, 2025, coinciding with Trump’s inauguration. Gensler faced criticism during his tenure for his enforcement-driven approach to crypto regulations.

Amid speculation, Chris Giancarlo clarified that he is not pursuing the SEC Chair role. Giancarlo said in a recent statement,

“I’ve already cleaned up earlier Gary Gensler mess at the CFTC and don’t want to have to do it again.”

His focus remains on advancing crypto-friendly policies through a potential new role. According to the report, the “Crypto Dad” stated,

“I would be honored to be considered for the role.”

The creation of the crypto czar position could mark a pivotal moment in the evolution of U.S. crypto policy. With Chris Giancarlo leading the race, the industry anticipates advancements in crypto regulations under the new administration.

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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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Donald Trump Proposed Crypto Advisory Council To Set Up Strategic Bitcoin Reserve

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12 hours ago

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November 21, 2024

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Donald Trump plans to establish an advisory council to position the U.S. as a leader in the cryptocurrency space. The council will spearhead policy changes, coordinate with Congress on crypto legislation, and oversee the creation of a strategic Bitcoin reserve.

The advisory council will also operate under the White House’s National Economic Council or a similar executive body. Industry executives have revealed that the council will collaborate with federal agencies like the Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), and the Treasury to streamline regulatory frameworks for the crypto industry.

Donald Trump To Establish Bitcoin Reserve Amid Crypto Council Formation

According to a recent report, Donald Trump’s crypto advisory council will advise on digital asset policies and oversee the creation of a strategic Bitcoin reserve. The reserve aims to position Bitcoin as a core element of the United States’ economic strategy. This will enhance the nation’s leadership in the global crypto space.

The council will work with Congress to draft legislation and coordinate between agencies such as the SEC, CFTC, and Treasury. The initiative seeks to establish clear regulatory guidelines within the crypto sector. More so, the idea of a Bitcoin reserve reflects a commitment to integrating blockchain technology into national economic frameworks.

Additionally, the move comes amid rising discussions on why the United States should consider Bitcoin as part of its national reserves, particularly in light of countries like El Salvador and Bhutan already adopting it. Advocates like Anthony Pompliano stress the urgency for the U.S. to act to maintain its leadership in the evolving digital economy.

Industry Leaders Compete for Seats on Trump’s Crypto Council

Several players in the industry, including Ripple, Kraken, Coinbase, and Circle, are vying for a position on Donald Trump’s council. These companies aim to influence the administration’s approach to crypto regulation and advocate for pro-industry policies. Executives from Paradigm and Andreessen Horowitz’s crypto arm, a16z, are also expected to play key roles in shaping the council.

Ripple and Circle, represented by their executives, have already expressed interest in contributing to the council. Circle CEO Jeremy Allaire recently emphasized the importance of building a robust, crypto-friendly infrastructure under Trump’s administration. Industry leaders hope this council will bring an end to enforcement actions seen under the previous administration.

Most recently, Cardano founder Charles Hoskinson endorsed Coinbase CEO Brian Armstrong for the potential White House crypto role under Donald Trump’s administration. Hoskinson praised Armstrong’s neutrality and deep understanding of the crypto industry, emphasizing his ability to guide regulatory progress.

Meanwhile, this major push comes as the current SEC Chair, Gary Gensler, announced he is set to resign on January 20, 2025, coinciding with Donald Trump’s inauguration as U.S. President. Ripple’s CLO, Stuart Alderoty, emphasized the need for a new Chair who will establish clear rules for crypto. 

Notably, former regulators, including Heath Tarbert, former CFTC Chair and now Circle’s chief legal officer, and Brian Quintenz, a16z’s head of policy, are reportedly advising Donald Trump’s transition team. These individuals bring extensive regulatory experience to the development of the Crypto Council and its proposed Bitcoin reserve.

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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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