Connect with us

Altcoin

Bitcoin At $60K, Ethereum Plunges Amid Bear Market

Published

2 months ago

on


The top crypto prices today registered further losses as the Bitcoin (BTC) price continued trading below the $61,000 evel. Furthermore, the Ethereum (ETH) plunged significantly and dipped to the $2,800 level. In addition, other top altcoins, such as Solana (SOL), XRP, Cardano (ADA) also noted notable declines.

Major Crypto Prices Today

1. Bitcoin Price

The Bitcoin price dropped 0.24% reaching $60,913.20 at the time of writing on Monday, May 13. On the other hand, it’s trading volume soared 27.61% to $16.75 billion in the last 24 hours. Whilst, the crypto’s market capitalization stood at $1.20 trillion.

2. Ethereum Price

The Ethereum price slipped 1.29% to $2,887.12 at press time with a market valuation of $346.80 billion. Whilst, ETH saw its trading volume surged 27.08%, reaching $7.93 billion.

3. Solana Price

The Solana price plunged lower than the $140 level today. The Solana price lost 5.33%, settling at $138.97. In contrast, SOL witnessed a 33.58% gain in trade volume to $1.36 billion in the last 24 hours.

4. XRP Price

Whilst, the XRP price dipped below the $0.50 mark amid the bearish downturn. The XRP price recorded a dip of 2.97%, reaching $0.4926. On the other hand, XRP’s trading volume spiked by 51.14% to $608.99 million.

5. Cardano Price

Meanwhile, the Cardano crypto price tumbled 3.15% to $0.4272 today. Whilst, ADA recorded a hike of 15.34% in its 24-hour trading volume, settling at $202.22 million.

6. Dogecoin & Shiba Inu Price

The Dogecoin price lost 4.50% to $0.1357 while its rival, Shiba Inu price plunged 3.17% and traded at $0.00002178.

Also Read: Bitcoin ETF Clock $116M Weekly Inflow Despite Recent Setback; What To Expect?

Top Crypto Gainers Today

  • Core (CORE): The Core price rose 1.69% to $1.65.
  • UNUS SED LEO (LEO): The LEO crypto was up 0.04% and traded at $5.95.
  • Due to the ongoing bearish trend, there were no other gainers today.

Top Crypto Losers Today

  • Immutable (IMX): The IMX price lost 9.26%% to $2.05.
  • Bittensor (TAO): The Bittensor price dipped 8.71% to $347.09.
  • Wormhole (W): The Wormhole crypto price was down 8.40% to $0.5477.
  • Pendle (PENDLE): The PENDLE price slipped 8.05% to $4.03.

Dogwifhat (WIF), Akash Network (AKT), Arweave (AR), and Fetch.ai (FET) also made it to the top crypto losers list today.

Also Read: Low Supply Tokens to Buy This Month

✓ Share:

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.

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

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Altcoin

Dogecoin Whale Bags 90M Tokens Amid Market Crash, What’s Next For DOGE?

Published

8 mins ago

on

July 4, 2024

By


In an unprecedented development witnessed amid the broader crypto market’s phenomenal crash today, a Dogecoin whale turned heads with its massive accumulation. Recent on-chain insights reveal that a whale bagged a whopping 90 million DOGE from the Binance crypto exchange.

This accumulation has glimmered hope for Dogecoin’s future price endeavors despite its recent dip to the $0.11 price level. So, let’s delve deeper into the accumulation and DOGE’s current market dynamics.

Whale Bags 90M Coins Igniting Optimism

According to the insights provided by the blockchain tracker Whale Alert, 90 million DOGE tokens, worth $10 million, was accumulated by the whale address DGmzv39riE. This accumulation underscored the whale’s undeterred sense of confidence in the asset.

Crypto market whales are large-scale investors who market participants closely monitor to judge market mood, risks, and sentiment. Notably, massive accumulations usually add a bullish tint to a coin’s future prospects.

Further, as per data by Blockchair, the abovementioned address held a whopping 1.42 billion DOGE, worth $157.30 million. This data weighs the balance towards the bullish side for Dogecoin, as, despite the recent crash, the whale has refrained from selling. This could also mean that further price pumps may be imminent, as the correction is a short-term part of the ongoing bull run.

Simultaneously, at press time, DOGE remained in the negative territory despite the buying pressure brought upon the whale.

Also Read: Crypto Crackdown By South Korea To Delay Global Crypto Market Recovery, Here’s Why

DOGE Price Pullback, What’s Next

As of writing, the DOGE price chart showed signs of a pullback, tanking 7.08% to $0.1101. Its 24-hour lows and peaks were recorded as $0.1103 and $0.1196, respectively.

It is worth noting that Dogecoin corrected 10.46% over the past week, whereas the monthly chart showed a 30% crash. This slumping action comes in line with the broader market volatility.

Besides, a recent analysis by CoinGape Media spotlighted that an extended bearish movement could pave the road for DOGE to hit the $0.1 support level. Nonetheless, the whale accumulation has sparked riveting market sentiments, pushing Dogecoin market participants onto a hot seat.

Coinglass data added on to this uncertainty as DOGE’s Futures OI dipped 3.42% to $578.21 million, whereas derivatives volume upsurged 64.80% to $1.64 billion. This data hinted at uncertain investor sentiments prevailing in the market.

Also Read: Ripple Vs SEC Update — Lawyers Reveal How SEC’s Reply Impact Final Decision

✓ Share:

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.

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

Continue Reading

Altcoin

XRP Takes Bearish Turn As Whale Offloads 65M Coins, What’s Next?

Published

2 hours ago

on

July 4, 2024

By


Against the backdrop of the crypto market’s remarkable bearish movement today, an XRP whale has continued to dump significant amounts of coins to exchanges. Over the past day, nearly 65 million XRP was recorded to have been offloaded, raising severe concerns among crypto market participants.

XRP is currently feeling the heat of the broader market’s downtrend, as also seen by Bitcoin (BTC) slipping as low as the $57K mark. Further, the whale’s dump, despite the recent advancements in the XRP lawsuit, has curated a storm of speculations on future price movements.

Whale Dumps 65M Coins

In a couple of posts shared by the on-chain transaction tracker Whale Alert, it was pointed out that 64.70 million coins were shifted to CEXs via the same whale address. As per the data, the address …Rzn was registered to have been making the massive dump.

Intriguingly, the whale shifted 32.69 million XRP, worth $15.12 million, to the Bitso crypto exchange. Meanwhile, in another transaction, the whale shifted 32.01 million XRP, worth $14.82 million, to the Bitstamp crypto exchange.

The emergence of these transactions amid XRP showing signs of a pullback has raised bearish market sentiments. Also, it’s worth noting that speculations of this whale being linked to Ripple persist. For context, these transactions became a recurring phenomenon soon after Ripple strategically acquired a stake in Bitstamp.

In the interim, XRP price continued to dip, aligning with the whale’s massive dump and the broader market trend. Despite positive developments in the Ripple vs the U.S. SEC lawsuit, as Ripple filed a notice of supplemental authority, the XRP community is yet to witness a significant shift in market sentiment.

Also Read: German Govt Dumps Another 1300 Bitcoin To Coinbase, Kraken & Bitstamp

XRP Price Tanks

At press time, XRP price showed signs of a pullback, falling 6.84% to $0.4502. The Ripple-backed asset’s 24-hour lows and highs are $0.4486 and $0.4833, respectively.

XRP’s Futures OI dipped 10.08% to $547.41 million, coinciding with the price fall. However, the derivatives volume rocketed 86.88% to $1.58 billion. This hinted at an uncertain market sentiment for XRP.

Meanwhile, crypto analyst Dark Defender took to X, spotlighting the cryptocurrency’s turbulency below $0.4623. The analyst states that the volume is currently at a shallow level, indicating a lack of market activity with no selling or buying. This could potentially pave the way for a dip to $0.3917 should XRP close below $0.4623.

Crypto market enthusiasts continue to eye the token for vital shifts ahead.

Also Read: Ethereum Roll-Out EIP-7732 Proposing Major Shift In Block Validation Process, Here’s All

✓ Share:

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.

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

Continue Reading

Altcoin

Ethereum Roll-Out EIP-7732 Proposing Major Shift In Block Validation Process, Here’s All

Published

3 hours ago

on

July 4, 2024

By


Ethereum is on the brink of a significant upgrade with the introduction of EIP-7732. This Ethereum Improvement Proposal aims to revolutionize the block validation process by implementing a trust-free, fair exchange mechanism between beacon block proposers and builders. The proposal’s primary goal is to enhance the network’s efficiency and security.

Technical Implications and Security Considerations

Currently, block proposers often rely on builders to assemble the content of new blocks, with a middleman ensuring smooth operations. EIP-7732 seeks to eliminate this intermediary, proposing a split in the block validation process. Under this new system, validators would first verify the overall structure of a block before delving into its contents, potentially streamlining network operations.

The proposal also introduces a Payload Timeliness Committee to ensure new blocks are added to the chain quickly and fairly. While this change could significantly improve Ethereum’s security and fairness, it would require a network-wide upgrade, necessitating careful consideration from the Ethereum community.

EIP-7732 proposes several technical changes, including a new approach to handling withdrawals from Ethereum’s beacon chain. While this could increase efficiency, it might also result in temporary empty slots in the blockchain as withdrawals catch up. The Ethereum developers behind EIP-7732 have also prioritized security, incorporating safeguards against various attack vectors and ensuring the system can resist attempts to rewrite recent blockchain history. These measures aim to fortify Ethereum’s resilience and decentralization.

If approved and implemented, EIP-7732 could represent a significant leap forward for Ethereum, potentially strengthening the network and enhancing its decentralized nature. However, the complexity of these changes requires thorough evaluation by the Ethereum community before implementation.

Also Read: BitMEX Expands Support For Dogecoin, Shiba Inu, Pepe Coin & Others; Here’s How

Ongoing Discussions and Market Impact

While EIP-7732 is being considered, Ethereum developers are also discussing the integration of EOF (Ethereum Object Format). Tim Beiko has recommended shipping all Pectra EIPs, including EOF, in a single client release. Discussions are also ongoing regarding EIP 7702, which is being considered as a replacement for EIP 3074. However, some specification issues with EIP 7702 still need to be resolved, and Ethereum protocol developers are working in separate breakout rooms to address these challenges.

These potential changes could impact Ethereum’s market performance. Despite the recent approval of spot Ethereum ETFs by the U.S. Securities and Exchange Commission (SEC), Ethereum has been showing bearish signs. As of the last update, Ethereum price was trading at $3,158.48, experiencing a 5.53% decline over the previous 24 hours.

Also Read: Donald Trump Presidency Can Trigger ‘Global Hash War’ With BTC Reserves, Says Bitcoin Maxi

✓ Share:

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.

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

Continue Reading
Advertisement

Trending

Copyright © 2024 coin2049.io