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

Crude Oil Price Forecast: Brent Nears $110 Amid Saudi Pipeline Outage, How Much Further Can Oil Rise?Supply risks in the Middle East continue to heat up, with international oil prices fluctuating at high levels.During Tuesday's Asian trading session, Brent crude futures (UKOIL-F) rose to

Author TradingKey

7 hours ago

Supply risks in the Middle East continue to heat up, with international oil prices fluctuating at high levels.During Tuesday's Asian trading session, Brent crude futures (UKOIL-F) rose to

【Daily Brief】10-year Treasury yield briefly tops 5%, S&P 500 slips to 7,602 and the dollar firms at 99.3 as the Fed's decision eve begins The 10-year Treasury yield touched 5.014% on Monday — its first print above 5% since October 2023 — while the S&P 500 closed 0.48% lower at 7,619.98 and the dollar index firmed to 99.3. Here is the full market wrap ahead of Wednesday's FOMC decision, the dot plot and the August retail sales report, plus today's CLARITY Act Senate vote.

Author Irene Q.

7 hours ago

The 10-year Treasury yield touched 5.014% on Monday — its first print above 5% since October 2023 — while the S&P 500 closed 0.48% lower at 7,619.98 and the dollar index firmed to 99.3. Here is the full market wrap ahead of Wednesday's FOMC decision, the dot plot and the August retail sales report, plus today's CLARITY Act Senate vote.

Gold falls below $4,300 as higher US yields bolster Fed rate hike bets Gold price (XAU/USD) tumbles to near $4,295 during the early Asian session on Tuesday. The precious metal faces some selling pressure as rising bond yields and surging energy prices strengthen expectations that the US Federal Reserve (Fed) will raise interest rates this week.

Author FXStreet

14 hours ago

Gold price (XAU/USD) tumbles to near $4,295 during the early Asian session on Tuesday. The precious metal faces some selling pressure as rising bond yields and surging energy prices strengthen expectations that the US Federal Reserve (Fed) will raise interest rates this week.

Silver Price Forecast: XAG/USD falls to near $63.50 amid Fed hike bets, higher oil prices Silver price (XAG/USD) loses its gains from the previous day, trading around $63.50 per troy ounce during Asian hours on Monday. Non-yielding Silver is currently facing significant headwinds driven by rising Federal Reserve (Fed) rate-hike expectations for the upcoming September decision.

Author FXStreet

Yesterday 10: 37

Silver price (XAG/USD) loses its gains from the previous day, trading around $63.50 per troy ounce during Asian hours on Monday. Non-yielding Silver is currently facing significant headwinds driven by rising Federal Reserve (Fed) rate-hike expectations for the upcoming September decision.

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

Yesterday 07: 49

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.

Related Instrument