In the latest crypto Market updates, trading volume surged by 42% to $87.2 billion, even as Market capitalization saw a slight decline of 2%. Bitcoin remains stagnant below $85,000, influenced by a gold rally reaching $3,000 ahead of the US Federal Reserve’s rate decision. Notable developments include the launch of Solana futures ETFs and Ethereum’s “Hoodi” testnet, which contributed to a 1.7% rise in ETH prices. Meanwhile, altcoins like BinaryX and PancakeSwap saw substantial gains, driven by increased interest in decentralized finance (DeFi). However, some assets faced losses, like PI Network, which dropped by 5% due to investor concerns. Overall, traders are actively moving capital within the Market amidst these fluctuations.
Crypto markets are seeing interesting shifts as trading volume has jumped by 42% to $87.2 billion in the last 24 hours. This is despite a 2% drop in overall Market capitalization, indicating that traders are actively moving their investments around.
Bitcoin is struggling to break above the $85,000 mark, currently sitting just under it at $84,000. Much of this stagnation comes as gold has soared to new heights, reaching a record price of $3,000, especially in anticipation of the upcoming U.S. Federal Reserve rate decision.
In more upbeat news, this week features important developments for Solana and Ethereum. Solana’s futures ETF launched on Monday, making headlines as it coincides with the blockchain’s fifth anniversary. On the other side, Ethereum has also made waves with the launch of its “Hoodi” testnet, which promises to improve its DeFi capabilities and scalability.
The altcoin Market is buzzing as investors adjust their portfolios. Here are some notable movements:
Top Gainers:
– BinaryX saw a massive spike of over 30%, now priced around $1.68.
– PancakeSwap also jumped 30%, reaching $2.50 as it captured attention due to increased interest in DeFi staking.
– Berachain gained 7.83%, attracting investors focusing on tokenized securities.
Top Losers:
– PI Network faced a 5% drop, hit by negative sentiment around its mainnet upgrade deadline.
– Celestia is down 3% but remains up 19% over the week.
Market sentiment remains mixed as traders are eying movements in major altcoins like Litecoin and XRP. Solana’s slight decrease of 1% shows the risk involved, especially as fears linger regarding token unlocks influenced by the recent FXT case.
On the news side, notable updates include Pavel Durov, the founder of Telegram, returning to Dubai amid an ongoing investigation. Additionally, VanEck has filed for an Avalanche ETF, which could provide investors new opportunities in the crypto ecosystem. OKX has temporarily suspended its DEX aggregator due to security concerns linked with the Lazarus Group.
As the crypto space evolves, staying updated on these trends can help investors make informed decisions.
What is Solana futures trading?
Solana futures trading allows traders to bet on the future price of Solana. It lets you buy or sell contracts based on where you think Solana’s price is heading. This can help you earn profits or manage risks.
How is Ethereum Hoodi different from regular Ethereum?
Ethereum Hoodi is an update that aims to improve Ethereum’s performance. It focuses on making transactions faster and cheaper. This update is part of Ethereum’s ongoing effort to become more efficient.
Why is Bitcoin price stalling at $83,000?
Bitcoin’s price can stall for many reasons, like Market uncertainty or lack of investor interest. Traders are waiting for news or events that could push the price up or down.
What’s the connection between Bitcoin and other cryptocurrencies like Solana and Ethereum?
Bitcoin, Solana, and Ethereum are linked because they are all cryptocurrencies. When Bitcoin’s price moves significantly, it can influence the prices of other coins. Traders often watch Bitcoin for signs of Market trends.
Should I invest in Solana futures now?
Whether to invest in Solana futures depends on your goals and risk appetite. It’s important to research and consider Market trends before making any investment. Always remember to invest only what you can afford to lose.