During the early hours of Monday, Bitcoin was trading at about $68,000, which is less than 10% away from its all-time high of $73,777 on Binance.
The expectation of an Ethereum exchange-traded fund (ETF) is growing among traders, and Ether investment products have seen an influx of more than $45 million over the previous week.
The CEO of Ripple weighs in on whether or not the SEC action against Ripple will be resolved soon, while XRP continues to linger near crucial psychological barriers.
New developments in Bitcoin, Ethereum, and XRP
The price of bitcoin is getting closer and closer to its all-time high of $73,777, which was recorded on Binance on March 14. At the time of this writing, during the early hours of Monday, the price of bitcoin is $67,730. Bitcoin funds got a total of $1.27 billion in weekly inflows, according to the weekly asset flows data published by CoinShares.
At the time of this writing, the price of Ethereum is around $3,500. In anticipation of the Securities and Exchange Commission's (SEC) introduction of the Spot Ether Exchange Traded Fund (ETF), traders of alternative cryptocurrencies are making preparations. There was a total inflow of $45.3 million into the Ether funds.
During the last week, XRP has seen increases of 21%, and at the time of this writing, the coin is trading at a price that is quite near to $0.61. The Chief Executive Officer of Ripple, Brad Garlinghouse, has said that the case between the SEC and Ripple may soon be resolved, but he is not permitted to comment on the term "settlement."
There is a possibility that Arweave (AR) may see a correction of roughly 8% before it begins to rise towards $38.19, which is its 61.8% Fibonacci retracement of the slide from its May 20 high of $49.55 to its July 5 low of $19.80. The current price of AR is $32.74 at the time of this writing.
Gains in AR are supported by the Moving Average Convergence Divergence (MACD) indicator, and the green histogram bar that is located above the neutral line demonstrates that there is underlying bullish momentum in AR.
At $34.67, which is the 50% Fibonacci retracement level, AR may attempt to retest the resistance level.
Recent developments in the market
Association for the exchange of cryptocurrencies Kamala Harris, the Vice President of the United States, was the recipient of a letter from the Digital Chamber of Commerce, which urged her to adopt a forward-looking attitude to cryptocurrencies. The letter makes a plea to the Vice President to interact with prominent figures in the cryptocurrency business and choose a running partner who is supportive of cryptocurrency.
Jeo Boden (BODEN), Jill Boden (JILLBODEN), and Kamala Horris (KAMA), all of which are headquartered in Solana, have seen price fluctuations in the area of double digits over the last twenty-four hours. This comes in the wake of the revelation that US President Joe Biden would withdraw from the contest for the 2024 election.
A total of $1.35 billion was invested in crypto asset investment products over the course of the last week, according to data provided by CoinShares.
Updates about the industry
The amount of transactions using stablecoins reached a new all-time high of $2.8 trillion in the second quarter of 2024, according to data provided by Bitwise. This is seen as a significant milestone.
The mainnet version of Ondo Finance's yieldcoin is now operational, making it available to more than ninety networks that are part of the Cosmos ecosystem.
Arbitrum has announced that it would be hosting a buildathon event for developers, which will provide a total of $500,000 in prizes.
#Biden_Out_BTC_Up #Bitcoin_Coneference_2024 #ETH_ETFs_Approval_Predictions $BTC
