Ethereum (ETH) whales have accelerated their accumulation of the top altcoin over the past few days. According to data cited by smart money tracker Lookonchain, several wallets have been withdrawing ETH from exchanges over the past 24 hours.
Bitwise Chief Investment Officer (CIO) Matt Hougan outlined a bullish long-term outlook for stablecoin issuer Circle, projecting that the company could reach a $75 billion valuation by 2030.
The gap between the cryptocurrency market and the traditional finance system appears to be closing fast, as evidenced by Tether Gold XAUT perpetual contract hitting a record $6.4 billion in trading volume on the Binance exchange on Monday.
Ripple (XRP) edges up above $1.42 at the time of writing on Wednesday, reflecting a moderately bullish widespread bias that has seen Bitcoin (BTC) extend gains above $71,000.
Cryptocurrency prices are broadly rising on Wednesday, shrugging off the war in the Middle East, which is now in its fourth week. Bitcoin (BTC) edges up above $71,000, with immediate support at $70,000.
Bitcoin (BTC) price rises slightly, trading around $71,000 as of writing on Wednesday and holding its recovery earlier this week.
Bonk (BONK) is up 2% at press time on Wednesday, extending its third consecutive day of gains so far this week. BONK.fun has introduced a $7,000 daily bounty program to incentivize new token launches in Balanced Mode.
Polkadot (DOT) price extends its losses, slipping below $1.40 as of writing on Wednesday after falling slightly the previous day. Weakening derivatives metrics, alongside increasing bearish technical indicators, support a deeper correction for DOT in the near term.
Pi Network (PI) trades slightly below $0.1900 at press time on Wednesday, maintaining a broadly sideways trend after Sunday’s 4% drop. PiScan data shows over 1 million PI tokens left the Centralized Exchanges (CEXs) in the last 24 hours, indicating strong buying pressure.
Zcash (ZEC) edges lower at press time on Wednesday after an 11% surge in the last two days. Derivatives data shows a demand buildup in ZEC futures, with Open Interest rising by double digits over the last 24 hours.
Stellar (XLM) price is trading above $0.17 as of writing on Wednesday, after closing above the key resistance zone the previous day. Improving sentiment from the derivatives market, alongside a constructive technical outlook, suggests an upside continuation for XLM in the near term.
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) are showing mixed signals on Wednesday as market momentum shows signs of fatigue. BTC holds its recent recovery, now nearing its key resistance, while ETH struggles below a critical level, and XRP’s momentum indicators tilt slightly bearish.
Bitcoin (BTC) holds ground above $70,000 at press time on Wednesday as the US attempts to de-escalate tensions in the Middle East. The restriction on passive rewards for holding stablecoins in the latest draft of the CLARITY Act negatively impacts crypto stocks like Circle (CRCL).
Circle shares fell nearly 20% on Tuesday following new details from a Senate compromise tied to the Digital Asset Market Clarity Act (CLARITY), which could limit yield payments on stablecoin balances.
The New York Stock Exchange (NYSE) has signed a memorandum of understanding (MOU) with Securitize to develop infrastructure supporting tokenized securities, according to a statement on Tuesday.
Solana (SOL) is trading around $90.00 at the time of writing on Tuesday after falling from its daily high of $92.22. The broader crypto market remains on edge amid uncertainty driven by the Middle East war.