Altcoin
Ethereum ETF Flows Flip Negative Again As ETH Price Slips 6%, What’s Next?
After six consecutive days of inflows, the spot Ethereum ETF flows flipped negative again on Thursday, as the bullish sentiment driven by Trump-trade subsided. The ETH price also dropped 6% in the last 24 hours moving all the way to $3,000 losing over $22 billion in market cap.
Spot Ethereum ETF Flips Negative
After six consecutive days of inflows, the US Spot Ethereum ETF is once again seeing outflows. On November 14, Ethereum ETFs experienced a minor outflow of $3.24 million, the first since the Donald Trump victory on November 5.
Despite this, BlackRock’s Ethereum ETF (ETHA) saw a net inflow of $18.87 million in a single day. However, Grayscale’s ETHE played the spoilsport with nearly $22 million in outflows yesterday. Besides, inflows in other Ether ETFs have dried up significantly, as per the data from SoSoValue.
Following the Donald Trump victory on November 5, the spot Ether ETFs saw strong inflows as the ETH price rallied 40% on the weekly timeframe all the way to $3,400. However, since the November top, the ETH price has corrected nearly 10% as bulls try to defend $3,000 levels.
ETH Price Action in Choppy Market
Amid the recent ETH price action, popular crypto trader Credibull Crypto has started to build a position in Ethereum (ETH) and add further if Ethereum drops to $2,800, amid the current low-time-frame (LTF) price action and crypto market drop. The decision to increase their exposure is based on Bitcoin’s recent stability, which may prevent a quick pullback to the low $80k range and allow ETH to continue upward.
The trader notes that a small range is forming, pushing into local demand, with untapped local highs above. They are eyeing potential gains toward the $3,500+ level before reassessing. However, the trader emphasizes that the invalidation point for their higher-time-frame (TF) ETH strategy is at $2,350.
Watching this LTF PA develop on $ETH and have started positioning here. If we make it down to the ideal entry zone (sub $2800) I’ll add to my position.
Reason for going in more aggressively here is that BTC is holding up decently atm and if we don’t get a pullback to low 80k’s… https://t.co/681HswOBoI pic.twitter.com/TmwCxBLgbu
— CrediBULL Crypto (@CredibleCrypto) November 14, 2024
Popular trading account IncomeSharks suggests that traders who missed the initial entry opportunity might find a second chance near Supertrend support just under $3,000. The trader also added that the swift shift in market sentiment, as “a few red candles” have led to widespread pessimism and negativity toward the asset. However, he believes that there’s a strong potential for a rebound moving ahead. This can again lead to resuming the inflows for spot Ethereum ETFs.
A recent Ethereum price analysis hints that analysts have been making bullish predictions for the crypto, potentially hitting $4,000, by November end. However, it will require the support of the broader market to continue this rally ahead.
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.
Solana meme coin Moo Deng (MOODENG) price witnessed a remarkable 20% uptick in value on Friday, sparking market optimism against the backdrop of a major listing for the crypto. Notably, leading Asian crypto exchange OKX announced that it is adding the meme coin to its stockpile of trade offerings, generating investor curiosity globally. Crypto market enthusiasts speculate whether the listing could help the token sustain a rally amid a bullish market, especially within the meme coin sector.
OKX Unveils Listing For Moo Deng Sparking Investor Frenzy
In an official announcement by the Asian crypto exchange on November 15, it was brought to attention that MOODENG/USDT spot trading on the platform is to commence starting at 12:00 PM (UTC) today. The platform’s colossal user base remains poised to indulge in Moo Deng trading, paving the path for further money inflow into the token.
In turn, the crypto currently surfs bullish tides across the market amid a meme coin frenzy. It’s noteworthy that this year’s Q4 sees a remarkably bullish meme coin market, with tokens such as Dogecoin and Shiba Inu witnessing weekly gains worth over 90% and 25%, respectively.
However, MOODENG price rally appears to have stolen the spotlight amid backing from major crypto exchanges despite other tokens mirroring notable gains. CoinGape Media recently reported that Binance launched Moo Deng futures listing with up to 75x leverage, igniting a price surge of 90% in the meme coin. Overall, market watchers continue to gauge the coin’s price movements as OKX’s support could further bolster the price.
MOODENG Price Soars 26%, Will Rally Sustain?
At press time, MOODENG price shot up 26% intraday and is now trading at $0.573. The coin’s 24-hour low and high were $0.3979 and $0.5788, respectively. Concerningly, the token’s trading volume did not surge as the trading on the exchange is to go live later today. Nevertheless, market watchers remain optimistic on future actions amid a bull run already taken by the token.
The Solana meme coin‘s weekly gain totaled 103%, whereas the monthly chart indicated a 538% upsurge. This rising trajectory has underscored the token’s potential to offer investors remarkable gains ahead.
Meanwhile, Coinglass data showed that the coin’s futures OI soared 26% to $293.14 million. Also, the derivatives volume jumped 10% to $2.60 billion. Overall, the current market stats underscore a heightened market interest in the asset, paving a bullish path for future movements.
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.
Dogecoin whales are on a buying spree, despite the DOGE noting a retreat today, sparking speculations in the market. A top crypto market expert highlights that the DOGE whales have accumulated over $55 million of the top meme coins in the last 24 hours, indicating the growing confidence of the investors. Having said that, many in the digital assets space, especially the meme coin sector, anticipate a breakout ahead for the crypto.
Dogecoin Whales Bags Millions Sparking Optimism
The top meme coins have noted a strong rally over the past few days amid a positive sentiment hovering in the broader crypto market. Amid this, Dogecoin whales have accumulated millions of tokens, showcasing their increasing confidence in the market.
According to a recent X post by the prominent crypto market expert, Ali Martinez, the DOGE whales have bagged 140 million coins from yesterday only. The transfers, valued at around $56 million, have sparked discussions in the market over further rally in the meme coin’s price.
Besides, another report from Lookonchain showed that a Dogecoin whale has dumped all his SPX holdings to add DOGE to his holdings this week. According to the report, the whale has dumped 10.6 million SPX for $6.2 million, making a profit of around $920K. Following that, he has spent $6.2 million to buy 13.95 million Dogecoin, valued at around $4.88 million currently.
This massive accumulation has resulted him a loss of around $1.33 million. Despite that, it showcases the growing confidence of the investor towards the meme coin’s future trajectory.
DOGE To Hit $3 Next?
Apart from the Dogecoin whales, it appears many are now shifting their focus toward the digital assets space, especially the meme coins segment. Notably, interest rose after Elon Musk was appointed to the Department Of Government Efficiency (D.O.G.E.) to cut the excess Federal spending.
The short form of the department, resembling the ticker of Dogecoin, has sparked interest among investors. Besides, Musk has actively voiced his support for DOGE previously on the X platform, which has also fueled interest among investors.
However, despite the positive sentiment, the crypto market today retreated with Bitcoin price also witnessing a pullback from its ATH. Besides, several other top altcoins and meme coins have also faced pressure, as witnessed by the recent performances of the coins.
As of writing, DOGE price today was down over 6% and exchanged hands at $0.3726, while its one-day trading volume fell 31% to $14.88. Over the last 24 hours, the leading meme coin has touched a high of $0.4147. Notably, the crypto has touched a weekly gain of 89%, while in the last 30 days, it added about 200%.
However, Dogecoin Futures Open Interest fell more than 3% today, indicating the subsiding risk-bet appetite of the investors. Despite that, a recent Dogecoin price analysis hints at a possible rally for the crypto $3, sparking market interest.
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.
In an effort to fuel market optimism, the leading crypto exchange Binance revealed an important update, sparking phenomenal gains in DEGEN price. A public announcement on Friday revealed that the crypto exchange is launching a perpetual contract for the mentioned crypto, sparking market discussions over its future price action. Meanwhile, traders also appear to have reacted positively to the listing announcement, as the coin’s intraday trading volume surged over 100%.
DEGEN Price Rallies On Binance Announcement
As per an official Binance announcement dated November 15, the crypto exchange is adding a DEGENUSDT (USD-Margined) perpetual contract today at 11:30 UTC. The announcement revealed that users on the platform remain poised to enjoy 75x leverage trading the asset.
Meanwhile, the exchange also plans to support Multi-Assets Mode for the crypto, offering enhanced flexibility and risk management for users. Further, the capped funding rate set by the exchange was at +2.00% / -2.00%. However, the leading crypto exchange also added that it could make potential changes in the contract ahead based on market risk conditions. These potential changes encompass adjustments in the funding fee, tick size, maximum leverage, initial margin, or maintenance margin requirements.
Nevertheless, the announcement appears to have set off optimistic waves for the token across the industry as DEGEN price rocketed amid a bull market.
DEGEN Soars 46%
At the time of reporting, DEGEN price surged 46% to trade at $0.02981. The coin’s intraday low and high were $0.01983 and $0.03272, respectively. Notably, intraday trading volume for the crypto soared 137% to $411.77 million. This bullish trajectory aligns with the aforementioned listing announcement.
Further, in light of the perpetual contract launch, the token’s futures OI witnessed gains worth 43% to $37.58 million. Moreover, the derivatives volume witnessed a 153% uptick to $125.94 million. Overall, this data showcases heightened investor increase in the asset.
In another similar chronicle, CoinGape Media reported recently that Sudeng (HIPPO) price skyrocketed following its perpetual contract launch on the same exchange. Notably, the token rallied 127% to date in the aftermath. This past chronicle has ignited substantial optimism over DEGEN price ahead. Crypto market enthusiasts continue to extensively eye the token for further gains ahead.
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.
Shiba Inu’s 65% Rise Triggers Largest LTH Move in Eight Months
MOODENG Price Rockets 26% Amid Major Listing, Rally To Continue?
Why the BRETT Token Price May Reclaim All-Time High?
Dogecoin Whales On A Buying Spree Signaling DOGE Rally To $3 Next
ACT, PNUT And DOGE(GOV) Form New ATH
Bhutan’s Bitcoin Treasure Crosses $1 Billion Mark – A 2024 Success Story
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
-
Regulation23 hours agoGary Gensler Reaffirms Crypto Regulatory Stance Amid Resignation Calls
-
Market14 hours agoUniswap (UNI) Price Vulnerable to Further Downside Pressure
-
Market5 hours agoCrypto fear and greed rises as investors turn to Vantard
-
Market24 hours agoXRP Token Price Hits $0.75 – Can the Rally Continue?
-
Altcoin24 hours agoDogecoin Eyes Parabolic Rally To Price Discovery, Is The 16,000% Surge From 2020 Possible This Time?
-
Market23 hours agoTether Injects $7 Billion into the Market in Six Days
-
Altcoin23 hours agoDonald Trump’s World Liberty Financial Taps Chainlink To Boost DeFi Offering
-
Altcoin8 hours agoHere’s How Much The Dogecoin Price Will Be With The Market Cap Of Solana
✓ Share: