• Latest
  • Trending
  • All

Ethereum continues to outpace bitcoin as crypto markets heat up

April 14, 2023
Hong Kong & UAE Join Forces To Bolster Crypto Regulation

Hong Kong & UAE Join Forces To Bolster Crypto Regulation

May 30, 2023
Shiba Inu (SHIB) and Dogecoin (DOGE) Swimming in Red Waters, HedgeUp (HDUP) Soars 300% with 400+ Holders Added Daily

Shiba Inu (SHIB) and Dogecoin (DOGE) Swimming in Red Waters, HedgeUp (HDUP) Soars 300% with 400+ Holders Added Daily

May 30, 2023
Ethereum’s Block Size Surges To 1-Month High

Ethereum’s Block Size Surges To 1-Month High

May 30, 2023
Payment Systems in Crypto Casinos — Deposit with Litecoin

Payment Systems in Crypto Casinos — Deposit with Litecoin

May 30, 2023
Canto Blockchain Difficulties Demonstrate Dreary DeFi Outlook

Canto Blockchain Difficulties Demonstrate Dreary DeFi Outlook

May 30, 2023
Traders Act Fast As Binance Australia Unveils Bitcoin Discount For Limited Period

Traders Act Fast As Binance Australia Unveils Bitcoin Discount For Limited Period

May 30, 2023
Laos Government Organizes Meeting on Blockchain 4.0 and Digital Economy Development

Laos Government Organizes Meeting on Blockchain 4.0 and Digital Economy Development

May 30, 2023
New Meme Coins To Replace Dogecoin

Will the crypto halving of BTC & LTC affect Caged Beasts?

May 30, 2023
Can DogeMiyagi influence outgrow Dogecoin and Pepe?

Can DogeMiyagi influence outgrow Dogecoin and Pepe?

May 30, 2023
Ethereum Deflation Hits Record High Six Months After Merge, What This Means For ETH

Long Dormant $14.7 Million Ethereum ICO Wallet Surfaces After Eight-Year Slumber

May 30, 2023
Litecoin (LTC) Halving Rally Looms: Popular Analyst’s Bold Outlook

Litecoin (LTC) Halving Rally Looms: Popular Analyst’s Bold Outlook

May 30, 2023
XRP to Hit $5 Being the Only Asset to Surpass ETH’s Market Cap

XRP to Hit $5 Being the Only Asset to Surpass ETH’s Market Cap

May 30, 2023
Tuesday, May 30, 2023
DLT EMPIRE
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoin
  • Crypto Mining
  • Dogecoin
  • Litecoin
  • Market
No Result
View All Result
DLT EMPIRE
No Result
View All Result
Home Market

Ethereum continues to outpace bitcoin as crypto markets heat up

by Cuevas Antonio
April 14, 2023
in Market
0
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter


Ethereum (ETH) soared to an 11-month high this morning in what is shaping up to be an exceptionally strong rally for the world’s second-largest cryptocurrency, much to the surprise of anyone expecting a post-Shanghai upgrade dip.

ETH has a history of acting bearishly after major network upgrades; it’s what happened last September when the long-delayed Merge finally occurred.

Plus, fears of large-scale selling pressure, when the Shanghai upgrade allowed some US$33bn worth of ETH to potentially be sold on the open market, was apparently going to gut the spot price.

That certainly hasn’t happened, at least for the short term, with ETH/USDT adding 5% on Thursday and another 5.3% this morning to push the pair as high as US$2,130.

ether price chart
Ether on a tear – Source: currency.com

Short liquidations on the futures market clocked in at a whopping US$93mln in the past 24 hours as a result.

Bulls will be eyeing up a move above US$2,200 where the biggest sell wall is located, per Binance’s order book.

Bitcoin, though not as strong as ether in the short term, is still in a good position having flirted with 31k in this morning’s Asia trading window, marking nine-month highs on the BTC/USDT pair.

bitcoin price chart
Bitcoin hits nine-month highs – Source: currency.com

There was some uncertainty among bitcoin traders after the mixed US inflation read on Tuesday, with investors in risk assets weighing up whether the slightly better-than-expected year-on-year drop to 5% was enough to support a risk-on rally.

For now, bitcoin appears to be in a bullish phase, though ETH is undoubtedly stronger, with the ETH/BTC pair adding 9.5% over the past three days.

DOGE wags tail

Recent news of Twitter’s partnership with eToro to bring crypto and equities trading to the bird has caused another surge in the Dogecoin (DOGE) meme coin.

The feature will provide Twitter users searching for ‘$Cashtags’ such as $TSLA or $BTC with real-time prices for cryptocurrencies, stocks and other assets, and direct them to the eToro platform to invest in them.

Musk is a long-time Dogecoin stan, so naturally the DOGE Army is speculating on a further integration between the meme coin and Twitter.

DOGE is something of a proxy for Twitter these days, so the eToro news sent DOGE/USDT around 9% high week on week.

Solana heats up

But the strongest week-on-week performer among the altcoin blue chips is clearly SOL, native coin of the Solana blockchain network.

SOL is currently around 24% higher on the week, with a market capitalisation approaching US$10bn, encouraged by the pending launch of Solana-powered, crypto-forward smartphone ‘Saga’.

The Android-based Solana Mobile will cost US$1,000 and is built in partnership with OSOM. Pre-orders are currently being taken.

Other top movers in the altcoin space include Cardano (ADA), adding 16% week on week, newly launched Ethereum scaling solution Arbitrum (ARB), adding over 27% and Optimism (OP), another Ethereum scaling solution, adding 17%.

Global crypto market cap added 4.5% to US$1.29tn overnight, while total value locked in the decentralised finance space added 5% to US$53.8bn.



Source link

Tags: BitcoincontinuesCryptoEthereumheatmarketsoutpace
Share196Tweet123Share49
Cuevas Antonio

Cuevas Antonio

  • Trending
  • Comments
  • Latest
Rise of AI-Powered Cheating: Challenges and Solutions for Educators

Rise of AI-Powered Cheating: Challenges and Solutions for Educators

March 20, 2023
Former FTX US President Reportedly Quit After ‘Protracted Disagreement’ With Bankman-Fried

Former FTX US President Reportedly Quit After ‘Protracted Disagreement’ With Bankman-Fried

April 10, 2023
What is Cloud Mining and How Does it Work?

What is Cloud Mining and How Does it Work?

April 10, 2023
Silicon Valley Bank: Bitcoin investors in panic as market goes sideways

Silicon Valley Bank: Bitcoin investors in panic as market goes sideways

0
24 Crypto Terms You Should Know

24 Crypto Terms You Should Know

0
Bitcoin, Ethereum, Dogecoin Rally As Team Biden Cushions SVB Blow

Bitcoin, Ethereum, Dogecoin Rally As Team Biden Cushions SVB Blow

0
Hong Kong & UAE Join Forces To Bolster Crypto Regulation

Hong Kong & UAE Join Forces To Bolster Crypto Regulation

May 30, 2023
Shiba Inu (SHIB) and Dogecoin (DOGE) Swimming in Red Waters, HedgeUp (HDUP) Soars 300% with 400+ Holders Added Daily

Shiba Inu (SHIB) and Dogecoin (DOGE) Swimming in Red Waters, HedgeUp (HDUP) Soars 300% with 400+ Holders Added Daily

May 30, 2023
Ethereum’s Block Size Surges To 1-Month High

Ethereum’s Block Size Surges To 1-Month High

May 30, 2023

Recent News

Hong Kong & UAE Join Forces To Bolster Crypto Regulation

Hong Kong & UAE Join Forces To Bolster Crypto Regulation

May 30, 2023
Shiba Inu (SHIB) and Dogecoin (DOGE) Swimming in Red Waters, HedgeUp (HDUP) Soars 300% with 400+ Holders Added Daily

Shiba Inu (SHIB) and Dogecoin (DOGE) Swimming in Red Waters, HedgeUp (HDUP) Soars 300% with 400+ Holders Added Daily

May 30, 2023
Ethereum’s Block Size Surges To 1-Month High

Ethereum’s Block Size Surges To 1-Month High

May 30, 2023

Categories

  • Altcoin
  • Altcoin News
  • Altcoins
  • Artificial Intelligence
  • Bitcoin
  • Blockchain
  • Business
  • Crypto Mining
  • Cryptocurrencies
  • Culture
  • Dogecoin
  • Economy
  • Education
  • Ethereum
  • Featured
  • Governance
  • Litecoin
  • Market
  • News
  • Uncategorized

Converter

Cryptocurrency Prices by Coinlib

© 2023 Dlt Empire | All Rights Reserved

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoin
  • Crypto Mining
  • Dogecoin
  • Litecoin
  • Market

© 2023 Dlt Empire | All Rights Reserved