Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Top three altcoins trending in crypto social media: Ethereum, Dogecoin, Ondo

Source Fxstreet

Ethereum is trending among market participants with the upcoming Dencun network upgrade.
X’s official payment handle fueled anticipation of Dogecoin’s acceptance as a payment method.
ONDO finance is seeing whale accumulation alongside the asset’s price rally.

Ethereum, the second largest cryptocurrency by market capitalization, is trending among crypto traders as developers finalize the timeline for the Dencun upgrade. ETH is trending alongside Dogecoin (DOGE) and Ondo Finance (ONDO), according to Santiment data.

The dog-themed meme coin’s holders believe Dogecoin is likely to be accepted as a payment method, as social media platform X reveals its official payments account @xpayments on X (formerly Twitter).

Also read: Bitcoin price sustains above $41,000 as whales moves signal further downside

ETH, DOGE and ONDO trend among market participants

In the recent Ethereum All Core Developers Execution (ACDE) call, the timeline for the Dencun upgrade was determined and the upgrade was finalized despite the issues that arose in the testing on the Goerli testnet. The Dencun upgrade is key to the Ethereum network since it is likely to reduce the transaction cost for Layer 2 chains.

The Ethereum ecosystem’s most anticipated upgrade, EIP-4844 is set to debut in the Dencun upgrade, boosting Ethereum’s scalability and reducing transaction costs. This makes the Dencun upgrade and its arrival on mainnet key to ETH holders.

At the time of writing, Ethereum price is $2,407 on Binance. The altcoin is likely to march towards its 61.8% Fibonacci Retracement level of ETH price decline between April and June 2022, at $2,551.

ETH/USDT

ETH/USDT 1-day chart

One of the key reasons why Dogecoin is trending among market participants is DOGE holders anticipate that the meme coin will find use as a payment method among X users. This anticipation was fueled by X’s official handle for payment, @xpayments arrival.

ONDO price rallied 751% in the past week. Despite the massive spike in the asset’s price, instead of profit-taking, large wallet investors are scooping up ONDO, according to data from on-chain intelligence providers.

Lookonchain revealed that a whale spent 540 Ether worth $1.33 million, and 319,505 MUBI tokens worth $50,000 to acquire 5.02 million ONDO worth $1.38 million. This is one of the many transactions by large wallet investors in the past 24 hours.

Trending altcoins are likely to observe a shift in the price trend as market participants make moves in these assets.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Fed hike odds near 90% into Wednesday's decision — how to trade the dollar, gold and the S&P 500 A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Author Suzie

Sep 14, Mon

A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Dollar index tops 100 for the first time since July as the Fed's hawkish dot plot sinks in The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Author Irene Q.

Sep 17, Thu

The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Gold rebounds to near $4,350 on weaker US Dollar, falling oil prices Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.

Author FXStreet

Sep 18, Fri

Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.

US to delay new "overcapacity" tariffs on China — what the pause means for trade, inflation and the dollar Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Author Mitrade

Sep 18, Fri

Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Bitcoin squeezes back above $80,000 — 110,000 traders liquidated as the hawkish Fed and CLARITY setback fail to hold it down; is $83,000 next?Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Author Suzie

6 hours ago

Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Related Instrument