Crypto Today: Bitcoin, Ethereum dip slightly, XRP flat on Monday as dormant Ether whale is back in action
Source Fxstreet
- Bitcoin, Ethereum trade sideways on Monday, hovering around $58,000 and $2,300, respectively.
- XRP trades in a narrow range at around $0.5700 at the start of the American session.
- A dormant Ethereum whale transferred Ether received in 2016, likely to increase selling pressure on the altcoin.
Bitcoin, Ethereum and XRP updates
- Bitcoin trades at around $58,500 at the time of writing. BTC has slightly corrected since the weekend after being unable to hold the key physiological $60,000 level. It is likely that traders have changed their approach to risk assets ahead of the important US macroeconomic developments this week.
- Ethereum trades at around $2,300 on Monday. At the time of writing, the second largest cryptocurrency by market capitalization erases 0.62% of its value on the day. ETH could face increasing selling pressure if dormant whales and Ether holders transfer their holdings to crypto exchanges.
- XRP trades in a narrow range around $0.5700 at the start of the American session on Monday.
Chart of the day: Notcoin (NOT)
NOT/USDT daily chart
Notcoin (NOT) is in a downward trend. At the time of writing, the token erased 4.76% of its value on the day and is likely to extend its decline further. There is a Fair Value Gap (FVG) between $0.00554 and $0.00750 on the NOT/USDT daily chart, which offers support for NOT’s price.
The midpoint of the FVG is $0.00652. There is a high likelihood that NOT dips to this level to collect liquidity before attempting a recovery. The Moving Average Convergence Divergence (MACD) indicator flashes green histogram bars above the neutral line, supporting an underlying positive momentum in the NOT price trend.
NOT could attempt a recovery to $0.00847, the August 23 high.
Market updates
- Binance launched Neiro (NEIRO), Turbo (TURBO), and Baby Doge Coin (100000BABYDOGE) at 10:00 GMT on Monday, and opens spot trading pairs with USD Tether (USDT). Neiro (NEIRO) is a meme coin on the Ethereum chain, Turbo is a meme coin created by AI for people, and Baby Doge is a meme on the Binance smart chain (BSC), per an official announcement.
- An Ethereum whale who received 16,636 Ether from ShapeShift at $5.23 per ETH in February 2016 sold 350 tokens from the holdings at an average price of $2,350, per Etherscan data.
- The government of the UK introduced a bill to the Parliament, focused on the legal status of cryptocurrencies, Non-fungible tokens (NFTs), and tokenized real-world assets (RWAs), on September 11.
Industry updates
- Circle, the USD Coin (USDC) issuer, partners with Sony to integrate the stablecoin as a primary token on Soneium. The partnership is geared at enhancing the security, user-friendly Web3 experiences and creators.
We’re excited to announce our collaboration with Sony Block Solutions Labs to bring bridged USDC on Soneium via our Bridged USDC Standard! This marks a significant milestone to set the stage for a new era of creativity in the Web3 space.
— Circle (@circle) September 16, 2024
Read more about the collaboration here:… pic.twitter.com/0IRxrXhf5P
- The issuer of the USDC stablecoin is moving headquarters from Boston to New York City, as the integration of blockchain technology in financial services continues at a fast pace.
- Binance, one of the largest crypto exchanges, warned users of a global malicious software, “Clipper malware,” that intercepts data stored on keyboards, such as crypto wallet addresses, in a blog post.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
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.
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.
Gold ends three-week slide at the $4,400 line — eight straight days of ETF inflows vs a 5% 10-year and a 100 dollarSpot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.
Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.
As of the European session on September 18, gold prices (XAUUSD) extended Thursday's rebound, rising strongly in intraday trading to $4,399.75 today, just shy of the $4,400 psychological
US to delay new "overcapacity" tariffs on China — what the pause means for trade, inflation and the dollarWashington 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.
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.
Gold rebounds to near $4,350 on weaker US Dollar, falling oil pricesGold 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.
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.
