24/7 Cryptocurrency News
Spot Ethereum ETF Inflows Show Why ETH Whale Selloff Is No Big Concern
Published
3 hours agoon
By
adminAfter 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.
2 institutions are selling $ETH!
A wallet related to #Cumberland deposited 11,800 $ETH($31.88M) into #Coinbase 7 hours ago.#ParaFiCapital withdrew 5,134 $ETH($13.83M) from #Lido and deposited it into #CoinbasePrime 6 hours ago.
Address:… pic.twitter.com/zuOe68IIuJ
— Lookonchain (@lookonchain) September 28, 2024
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.
After 4 months of silence, an ancient #Ethereum whale with a $58.8M profit cashed in another 12,979 $ETH for $34.3M this week, as $ETH rebounded ~6%!
Originally withdrawing 21,632 $ETH from #ShapeShift and #Poloniex in 2016 at $7.074/ETH, the whale has sold 15,879 $ETH since… pic.twitter.com/JrtBinVnj6
— Spot On Chain (@spotonchain) September 28, 2024
It seems that the inflows into spot Ethereum ETFs are largely compensating for the ETH whale selloff during the past week.
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
You may like
Will Bitcoin Price Break Records Again? Analyst Predicts $70K Milestone
Solana Could ‘Go Nuts’ As SOL Price Retests $160 Resistance
Could new crypto Rollblock 100x Like Shiba Inu and Dogecoin?
Wells Fargo Customers’ Bank Account and Social Security Numbers Exposed, Used for Fraud in Mysterious Data Breach
Shiba Inu sparks memecoin season as memebet presale hits $300K
BTC Tops $66K, Altcoins Mirror Bullishness
24/7 Cryptocurrency News
Will Bitcoin Price Break Records Again? Analyst Predicts $70K Milestone
Published
26 mins agoon
September 28, 2024By
admin10x Research founder Markus Thielen has predicted that the Bitcoin price would reclaim $70,000 in the next two weeks and break above its current all-time high (ATH) of $73,000 by late October. He also alluded to the surge in stablecoin liquidity and China’s recent monetary easing policy as what could fuel this crypto rally.
Bitcoin Price To Reach $70,000 And Then New ATH
In the latest 10x market update, Thielen predicted that the BTC price would move toward $70,000 in the next two weeks and then reach a new ATH by late October. He highlighted how Bitcoin’s recent break above $65,000 has confirmed the breakout from the downtrend and paved the way for this rally to the upside.
Thielen’s accompanying chart showed that the Bitcoin price could rise to $75,000 when this projected price rally occurs. The analyst also mentioned the surge in the stablecoin liquidity and China’s recent quantitative easing (QE) measures as what could spark this next crypto wave. This aligns with the CoinGape report on how BTC could reach $80,000 in October.
Stablecoin minting has increased sharply since July, as issuers like Tether and Circle issued almost $10 billion in the weeks following the July 31 FOMC meeting. Thielen noted that Circle, which typically offers its services to regulated institutions, accounts for 40% of the recent stablecoin inflows, indicating an influx of large market players into the crypto space.
How China Will Contribute To The BTC Rally
Meanwhile, Thielen highlighted how China’s history with Bitcoin and the country’s recent stimulus measures could contribute to the Bitcoin price rally. 55% of currently mined Bitcoin is said to come from Chinese mining pools, while the country dominated 90% of global BTC trading back in 2014. He also claimed Chinese exporters used over-invoicing to funnel billions into BTC in 2013, which triggered a massive rally.
In line with this, the analyst predicts that the stimulus measures could trigger significant capital outflows from China into the crypto market. Furthermore, Thielen asserted that the $278 billion Chinese stimulus plan could ignite a parabolic rally for BTC and other cryptocurrencies, especially with global liquidity rising.
Interestingly, the 10x Research founder also hinted that Donald Trump could play a major role in the BTC rally extending till next year. He claimed that Trump, if re-elected, may seek to overstimulate the US economy, potentially pressuring the Federal Reserve to cut interest rates by the first half of 2025 totally.
Arthur Hayes predicted that Bitcoin would benefit from the ‘volatility supercycle,’ an allusion to the monetary easing policies of world governments, including the US. He expects that fiat printed by these governments will flow into BTC and the broader crypto market.
Bitcoin’s Dominance Is At Risk
Although the Bitcoin price is set to continue rallying, Markus Thielen suggested that BTC’s dominance is at risk. He noted that the dominance has waned since last week’s FOMC meeting when the Fed cut interest rates by 50 basis points (bps). Since then, Ethereum gas fees have spiked thanks to the surge in altcoin activity across the crypto market.
The analyst predicts that this trend will likely continue if the Federal Reserve remains open to cutting rates. The Fed already suggested that there could be two 25 bps rate cuts before this year ends.
At the time of writing, the Bitcoin price is at around $65,500, down in the last 24 hours. Trading volume is also down by over 33%, with $26.3 billion traded during this period.
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.
Source link
24/7 Cryptocurrency News
BTC Tops $66K, Altcoins Mirror Bullishness
Published
7 hours agoon
September 28, 2024By
adminThe 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.
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
24/7 Cryptocurrency News
Coinbase Adds EigenLayer (EIGEN) To Listing Roadmap, Price To Rally?
Published
10 hours agoon
September 28, 2024By
adminCoinbase 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.
Assets added to the roadmap today: EigenLayer (EIGEN) https://t.co/rRB9d3hSr2
— Coinbase Assets 🛡️ (@CoinbaseAssets) September 27, 2024
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.
$EIGEN will start trading in just 10 days on Sept 30.
With 12% of EIGEN in circulation, it will launch with a market cap of ~$600M and ~$5B FDV.
This will put EIGEN at 123rd in market cap, below $DYDX and above $NEXO.
Seems low? NFA!
Unfortunately, EIGEN has dropped from $10… pic.twitter.com/I5Dk66145E
— Ignas | DeFi (@DefiIgnas) September 20, 2024
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.
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.
Source link
Will Bitcoin Price Break Records Again? Analyst Predicts $70K Milestone
Solana Could ‘Go Nuts’ As SOL Price Retests $160 Resistance
Could new crypto Rollblock 100x Like Shiba Inu and Dogecoin?
Spot Ethereum ETF Inflows Show Why ETH Whale Selloff Is No Big Concern
Wells Fargo Customers’ Bank Account and Social Security Numbers Exposed, Used for Fraud in Mysterious Data Breach
Shiba Inu sparks memecoin season as memebet presale hits $300K
BTC Tops $66K, Altcoins Mirror Bullishness
Binance founder and former CEO Changpeng Zhao released from prison
Leveraged MicroStrategy ETFs Are a ‘Ghost Pepper’ Bet on Bitcoin—And They’re Booming
Coinbase Adds EigenLayer (EIGEN) To Listing Roadmap, Price To Rally?
Changpeng Zhao is walking free. What will he do next?
XRP Ledger Rolls Out Two Major Upgrades, Will It Impact RLUSD?
Binance Founder Changpeng ‘CZ’ Zhao Is a Free Man
Tornado Cash Loses Motion to Dismiss
Mango Markets settles with SEC, agrees to destroy MNGO tokens
Top Crypto News Headlines of The Week
New U.S. president must bring clarity to crypto regulation, analyst says
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
Bitcoin Open-Source Development Takes The Stage In Nashville
Why Did Trump Change His Mind on Bitcoin?
Ethereum Crash A Buying Opportunity? This Whale Thinks So
Ethereum, Solana touch key levels as Bitcoin spikes
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
Shiba Inu Price Slips 4% as 3500% Burn Rate Surge Fails to Halt Correction
Citigroup Executive Steps Down To Explore Crypto
Mostbet Güvenilir Mi – Casino Bonus 2024
182267361726451435
Bitcoin flashes indicator that often precedes higher prices: CryptoQuant
Crypto Market Movers: 5 Altcoins Making Waves This Bull Run
‘Hamster Kombat’ Airdrop Delayed as Pre-Market Trading for Telegram Game Expands
Trending
- 24/7 Cryptocurrency News1 month ago
Top Crypto News Headlines of The Week
- News4 weeks ago
New U.S. president must bring clarity to crypto regulation, analyst says
- Bitcoin2 months ago
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
- Opinion2 months ago
Bitcoin Open-Source Development Takes The Stage In Nashville
- Donald Trump2 months ago
Why Did Trump Change His Mind on Bitcoin?
- Altcoins2 months ago
Ethereum Crash A Buying Opportunity? This Whale Thinks So
- Bitcoin2 months ago
Ethereum, Solana touch key levels as Bitcoin spikes
- Price analysis2 months ago
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
✓ Share: