The intersection of politics and cryptocurrency is under scrutiny as advocacy groups weigh the potential outcomes of the upcoming 2024 U.S. election. Coin Center, a prominent non-profit organization focused on
Both have joined the elite world of useless objects that get desirable as they get pricier
It is a resilience strategy for the ‘hodlers’, not the US state
Ethereum (ETH) is gaining prominence as Bitcoin maintains its recent highs. Despite the fact that ETH is currently 36% below its all-time high of $4,878 from 2021, analysts anticipate that the second-largest cryptocurrency by market capitalization may be preparing for a significant shift. Related Reading: XRP Gains Momentum: Whale Activity Points To $15 Breakthrough Ethereum’s ecosystem is a hive of activity, with a surge in institutional investments, rising ETF interest, and increasing transaction volumes. From the 1.1 million recorded three months ago, the daily transaction volumes on Ethereum have climbed to 1.22 million, a notable rise according to the most current statistics from IntoTheBlock. Bitcoin has been the star of this rally, but what about Ethereum? Historically, Ethereum has been one of the first assets to benefit from profit rotations after Bitcoin’s move. Currently, Ethereum’s on-chain activity shows evenly spaced potential resistance levels, but in… pic.twitter.com/amkbZmtEyo — IntoTheBlock (@intotheblock) November 21, 2024 Despite the fact that the increase is not substantial, it indicates that network usage is consistent. This consistent activity serves as the foundation for Ethereum’s long-term value and underscores its ongoing significance in the crypto sector. Institutional Investors Place Bets In the past week, institutional buyers bought more than $1.4 billion worth of Ethereum (ETH), which caused a stir in the crypto community. During the same time frame, $147 million has been put into Spot Ethereum ETFs. This shows that people are becoming more optimistic about the future of ETH. #Ethereum whales have bought over 430,000 $ETH in the last two weeks, worth over $1.40 billion! pic.twitter.com/n7iTTADuax — Ali (@ali_charts) November 14, 2024 The activity surge continues; trading volumes for Ethereum ETFs reached a record $1.63 billion last week, representing a 44% weekly increase. According to analysts, this increase is consistent with the patterns observed in Bitcoin ETFs, which experienced an initial period of stagnation, followed by a period of sustained growth. In response, Ethereum’s price went through the roof, rising by 25%, which was the biggest weekly gain in six months. Many people see these changes as signs that Ethereum is gaining speed, which could possibly lead to more benefits. Shifting Landscape: Layer 2 Solutions While there are positives, growth in Ethereum’s network sends out a mixed signal. New ETH addresses created are lower than those seen in previous bull markets. The reason for this is seen by experts as Layer 2 options such as Base. Because these technologies are built on top of Ethereum’s infrastructure, transfers can happen more quickly and for less money. This makes it less important to directly connect to the main Ethereum chain. Nevertheless, Ethereum’s significance has not been eclipsed by Layer 2 growth. Tokens continue to be indispensable in the decentralized finance (DeFi) and NFT ecosystems. In reality, this expansion strengthens Ethereum’s fundamental function while simultaneously increasing its scalability and accessibility. Related Reading: Upbit Listing Sends BONK Skyrocketing 67% For A Fresh ATH In Memecoin Mania ETH is becoming less correlated with BTC. The 180-day BTC-ETH Pearson correlation is at a three-year low. A 10% rise in #Bitcoin could result in only a 3% gain for #Ethereum. Just because BTC is strong doesn’t mean you should buy ETH. Each asset is now following its own path. pic.twitter.com/4Dn4QoInXo — Ki Young Ju (@ki_young_ju) November 19, 2024 Ethereum Dissociates From Bitcoin Ethereum’s autonomy from Bitcoin is becoming increasingly apparent. The 180-day correlation between the two cryptocurrencies has plummeted to a three-year low, falling below 0.5. This change, according to analysts, indicates that Ethereum is now more influenced by its distinctive market dynamics than by the price fluctuations of Bitcoin. The necessity of independently assessing Ether’s potential is increasing as it continues to pursue its own course. Ethereum is demonstrating that it is more than just Bitcoin’s counterpart — it is forging its own path in the crypto world, whether through the adoption of Layer 2 solutions, institutional interest, or increasing ETF activity. Featured image from DALL-E, chart from TradingView
The post Bitcoin Genius? Kiyosaki Backs Saylor’s Bold Strategy appeared first on Coinpedia Fintech News Robert Kiyosaki has never been one to sugarcoat his opinions, and his latest defense of Michael Saylor proves it. The Rich Dad Poor Dad author lashed out at critics of Saylor’s Bitcoin strategy, calling one “Mr. Big Mouth with No Balls.” Yes, he went there. But Kiyosaki didn’t stop at name-calling—he explained why he thinks …
According to recent data from COINOTAG News on November 23rd, the net inflows for Bitcoin ETFs reached a substantial $3.376 billion this week, indicating robust investor interest as the total
Cryptocurrency Prices Today, November 23: The broader market movement on Saturday sparked bullish momentum globally. Bitcoin remains steady at $98K, while major altcoins like ADA, XRP, and AVAX surged between 14% and 25%. Notably, Hedera (HBAR) and Stellar (XLM) emerged as top performers, registering jumps of 25% to 55% in the last 24 hours. Simultaneously, The post Cryptocurrency Prices Today Nov 23: BTC at $98K, HBAR Surges 25% and XLM rises 55% appeared first on CoinGape .
Recent analysis by COINOTAG on November 23rd highlighted a significant net capital influx of $490 million into U.S. Bitcoin spot Exchange-Traded Funds (ETFs). The predominant contributor, BlackRock’s IBIT, accounted for
Toncoin (TON) faces significant challenges as selling pressure intensifies amidst a notable rise in exchange inflows. Despite a daily price surge of 1.83%, Toncoin struggles to break free from the
Bitcoin miner MARA Holdings purchased 5,771 BTC for $572 million, increasing its holdings to 33,875 BTC, valued at $3.3 billion. Read original article on coincu.com