Altcoin
Ethereum Foundation Moves 92,500 ETH, Ether ETF Outflows Surge
The world’s second-largest cryptocurrency Ethereum (ETH) has been under selling pressure as the approval of spot Ether ETFs turns out to be a sell-the-news event. Interestingly, the Ethereum foundation wallets have been moving a large number of ETH this week.
Ethereum Foundation Wallet Moves 92,500 ETH
As per data from Lookonchain, an Ethereum Foundation wallet has transferred 92,500 ETH worth a staggering $294.9 million to another new wallet for the first time in nearly 6.6 years. On-chain tracking shows that the wallet received ETH tokens for the first time from the Ethereum Foundation on September 1, 2015. this move has drawn strong attention from the community showing the strong strategic management of the Ethereum foundation.
An #EthereumFoundation-related wallet transferred 92,500 $ETH($294.9M) to a new wallet 9 hours ago after being dormant for 6.6 years.
Through on-chain tracking, it was found that these $ETH were received from the #EthereumFoundation on Sept 1, 2015.https://t.co/FKGsNCrBAT pic.twitter.com/vPOAMq4ccK
— Lookonchain (@lookonchain) July 26, 2024
As said this is the second major move by the Foundation wallet within a week’s time. However, this current move hasn’t had much impact on the Ethereum price which has partially recovered to $3,250 after the dramatic drop on Thursday. However, ETH needs to cross the $3,500 for bulls to take over the rally and move it to $4,000 and beyond to new all-time highs.
Spot Ether ETF Outflows Continue
On the third day after launch, the spot Ethereum ETF has continued to see major outflows led by the Grayscale Ether ETF (ETHE) which saw over $346 million in outflows on Thursday. As a result, the total AUM of ETHE has dropped to $7.5 billion eroding more than $1.5 billion in just three days of launch.
On the other hand, the Black Ether ETF (ETHA) saw daily inflows of $72.9 million while Fidelity’s FETH saw inflows of $34.3 million. Interestingly, in a milestone development, the Bitwise Ether ETF (ETHW) saw its banner rise on the New York Stock Exchange (NYSE) on Thursday. The ETHW inflows yesterday stood at $17 million.
Bitwise Ethereum ETF banner going up outside the iconic facade at the New York Stock Exchange this evening.
For the fund’s prospectus & risk disclosures, visit: https://t.co/coYFoKerma pic.twitter.com/KKjkmW8hKA
— Teddy Fusaro (@teddyfuse) July 25, 2024
Also Read: Hashdex Files S-1 For Combined Spot Bitcoin and Ethereum ETF
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.
Altcoin
BTC and Major Altcoins Pullback, SAND Soars 60%
The crypto prices today have triggered global investor speculations as Bitcoin (BTC) and major altcoins showed weakening price trends. Meanwhile, The Sandbox (SAND) and Decentraland (MANA) emerged as top gainers. The selloff is likely due to Bitcoin pullback.
The global crypto market value dropped 2% to $3.3 trillion, while total market volume declined 5%, now at $200 billion. Crypto market sentiment dropped to 82 ‘extreme greed’ from 94 last week.
Here’s a quick snapshot of the top cryptocurrencies by market cap and their price movements today, November 25.
Crypto Prices Today: BTC, ETH, SOL, and XRP Drop
Today, the BTC price dropped significantly, briefly hitting $96,000. Similarly, ETH, SOL, and XRP mirrored the trend with declining action. SAND and MANA emerged as the top gainers.
Bitcoin Price Today
BTC prices dropped over 1% in the past 24 hours, currently trading at $97,601. The 24-hour low and high were $95,788 and $98,546, respectively. BTC’s total market cap stands at $1.93 trillion, with a 24-hour trading volume of $52 billion and a market dominance of 58.16%.
Veteran trader Peter Brandt predicted a BTC selloff ahead despite remaining overall optimistic about BTC’s long-term trajectory, sparking market discussions.
Ethereum Price Today
ETH price plunged nearly 3%, currently trading at $3,344. Its 24-hour low and high are $3,288 and $3,435, respectively. With a market cap of $402 billion and a 24-hour trading volume of $28 billion, ETH holds a 12% market dominance, ranking as the second-largest cryptocurrency by market cap.
Solana Price Today
SOL price dropped nearly 4%, currently trading at $250. Its 24-hour low and high are $243 and $259, respectively. With a market cap of $118 billion and a 24-hour trading volume of $5.33 billion, SOL holds a market dominance of 3.58%, ranking as the fourth-largest cryptocurrency by market cap.
XRP Price Today
XRP crypto prices fell by 7% today and currently trading at $1.38. Its 24-hour low and high are $1.30 and $1.49, respectively. With a market cap of $78 billion and a 24-hour trading volume of $12 billion, XRP holds a market dominance of 2.4%, ranking as the 6th largest cryptocurrency by market cap. Moreover, Ripple the company behind XRP, revealed a blueprint to defeat Gary Gensler’s war on crypto.
Meme Coins Performance Today
DOGE price dropped nearly 6% in the last 24 hours, currently trading at $0.4199. Its 24-hour low and high are $0.40 and $0.44, respectively. DOGE has a market cap of $61 billion and a 24-hour trading volume of $11.4 billion.
Similarly, SHIB Inu (SHIB) is currently trading at $0.00002529, down 7% in the last 24 hours. Its 24-hour low and high are $0.00002441 and $0.00002714, respectively. SHIB has a market cap of $15 billion and a 24-hour trading volume of $1.90 billion.
Meanwhile, PEPE, BONK, and FLOKI have all declined by almost 6% to 12% amid the massive liquidation.
Top Crypto Gainer Prices Today
The Sandbox
SAND price surged by 70% in the past 24 hours, currently trading at $0.83. Its 24-hour low and high are $0.51 and $0.84, respectively. Trading volume has shot up by 650%, indicating massive buying.
Decentraland
MANA is trading at $0.75, up by 30% in the past 24 hours. Its 24-hour low and high are $0.5592 and $0.7574, respectively.
Axis Infinity
AXS is trading at $8.50, with a 16% increase in the last 24 hours. Its 24-hour low and high are $7.187 and $8.909, respectively.
Top Crypto Loser Prices Today
Stellar
XLM is trading at $0.52, down by 16% in the last 24 hours. Its 24-hour low and high are $0.44 and $0.58, respectively.
Algorand
ALGO is trading at $0.27, with an 11% decline in the last 24 hours. Its 24-hour low and high are $0.2568 and $0.3262, respectively.
Hedera
HBAR is down by 10%, currently trading at $0.1412. Its 24-hour low and high are $0.1365 and $0.1547, respectively. Trading volume is down 50%.
Besides the hourly time frame, charts indicate that BTC and ETH are recovering, showing positive momentum. SAND price continues to jump higher. Overall, the market outlook appears bullish, which could be encouraging for investors. Crypto prices today reflect this shift, with BTC and ETH, starting to regain strength, signaling potential growth in the coming days.
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.
Altcoin
Dogecoin Fractal Points To A Potential Breakout, Can It Reach A New ATH?
The Dogecoin price has entered another stage of bullish momentum that has reignited inflows from traders. Notably, the DOGE price has surged by about 16.3% over the past 24 hours. This surge has brought into focus the possibility of the DOGE price reaching a new all-time high this year.
Interestingly, a crypto analyst on the social media platform X has highlighted a bullish fractal that could push the Dogecoin price on a parabolic run.
Dogecoin Fractal Points To New ATH
Master Kenobi shared his analysis of the Dogecoin price action on X. In his post, Kenobi outlined a fractal setup, suggesting that DOGE is on the verge of a significant breakout. Kenobi attributed the fractal formation to the consolidation that began after the DOGE price reached $0.43
A bullish fractal is a pattern that suggests an upward reversal in price. This pattern, which occurs during price consolidations, is characterized by a middle bar that has the lowest low, flanked by higher lows on each side.
Kenobi’s analysis was accompanied by a DOGE chart on the four-hour candlestick timeframe. The chart revealed that a similar fractal had occurred during the first week of November. At that time, Dogecoin was consolidating after an initial surge past the $0.20 mark. This consolidation phase, much like the current one, was marked by low volatility and steady accumulation. However, the November fractal ultimately resolved with an explosive 115% rally over six days.
Drawing parallels with the November setup, Kenobi predicted that the Dogecoin price could replicate this outcome and create a new all-time high in the next three days. In terms of a price target, a breakout would see the DOGE price reaching the $0.74 mark, which would put it above its current all-time high of $0.7316.
What’s Next For The Dogecoin Price?
The prospect of a new all-time high for the Dogecoin price is gaining ground with each passing day, especially with the price action in the past 24 hours. At the time of the analysis, the DOGE price was trading at $0.41. Interestingly, the Dogecoin price has surged to $0.46 at the time of writing, which indicates that the bullish fractal breakout has happened.
DOGE, which started November at $0.1616, is already up by about 230% in the past 30 days. Many on-chain data and price patterns point to a continued price increase, at least in the next few days and weeks. Ali Martinez, a popular crypto analyst, suggested that the Dogecoin price is in the middle of a bullish breakout to $0.82. If the price target is achieved, this would represent a further 78% gain from the current price.
Featured image created with Dall.E, chart from Tradingview.com
Altcoin
BTC Continues To Soar, Ripple’s XRP Bullish
The crypto universe has concluded yet another week, primarily with riveting developments unfolding across the broader sector. Bitcoin (BTC) continues to pump, hitting a new ATH this week. Simultaneously, Ripple’s XRP garnered significant market attention, recording considerable gains. The broader market continues to leverage investor optimism post-U.S. elections that saw Donald Trump reelected as the president.
Here’s a brief collection of some of the top cryptocurrency market headlines that have significantly impacted investor sentiment over the past seven days.
BTC Hits New ATH Amid Bull Crypto Market
BTC price hit a new ATH near the $100K level this week, echoing a buzz across the broader sector. Notably, the flagship coin gained roughly 10% over the past week to hit an ATH of $99,655. Attributable to this bullish movement post-U.S. elections, Rich Dad Poor Dad author Robert Kiyosaki shared a bold prediction for the coin, anticipating its price to hit $13 million.
Simultaneously, the crypto also saw heightened institutional interest amid its bullish movement, underscoring the potential for further gains. Aligning with this heightened market interest, biopharmaceutical firm Hoth Therapeutics forged ahead with BTC buying plans, sparking additional optimism surrounding the crypto.
Meanwhile, Bitcoin miner MARA completed its $1 billion private offering this week, with some of the proceeds set to be used to buy more BTC. Overall, the flagship coin leveraged significant buying pressure this week, paving a bullish path for future movements.
Ripple’s XRP Steals Attention
On the other hand, XRP’s price witnessed gains worth 40% over the past week, cementing investor optimism amid a bullish digital asset sector. Notably, XRP whales accumulated nearly $526M worth of the token this week, indicating that the Ripple-backed coin could pump higher. Veteran trader Peter Brandt predicted amid this bullish movement that a parabolic rally for the crypto also lies ahead.
Further, Ripple CEO Brad Garlinghouse conveyed bullish sentiments on XRP and a possible end to the SEC lawsuit, primarily attributable to the newly appointed U.S. Treasury Secretary Scott Bessent. Simultaneously, the Ripple vs. SEC lawsuit saw the regulator and FINRA trying to bring “digital asset securities” claims. This mover comes against the backdrop of XRP’s rally to $1, with speculations of a looming $2 target on SEC Chair Garu Gensler’s exit.
Overall, these market updates have sparked significant investor enthusiasm over the crypto realm’s future action, with market watchers being optimistic.
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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