Ether: A Stellar Run Continues!
Ethereum, affectionately dubbed Ether (ETH), has hit the big leagues again, crossing the coveted $3,500 mark today. It seems the crypto gods have smiled upon this digital asset, allowing it to strut its stuff on the market catwalk.
Dogecoin: The Meme King is Back!
Not to be outdone, Dogecoin (DOGE) has decided to crash the party by skyrocketing above $0.61. This surge comes after Gemini exchange’s recent decision to support DOGE, mirroring the moves of its rival, eToro. Trader enthusiasm is palpable, with many speculating that Elon Musk may give Dogecoin a shoutout during his upcoming Saturday Night Live (SNL) hosting gig.
Caution is Key!
While the rise of DOGE may seem like a dream come true, traders are advised to keep their wits about them. Beyond the euphoric price jumps driven by celebrity endorsements, underlying fundamentals of the coin remain questionable. In other words, invest wisely—don’t just ride the hype train into the sunset!
Bitcoin’s Fluctuating Stablecoin Supply
Meanwhile, Bitcoin (BTC) finds itself in a tiny pickle. Glassnode recently pointed out that Bitcoin’s Stablecoin Supply Ratio (SSR) has dipped to a 2021 low of 13.4. This ratio, calculated by dividing Bitcoin’s supply by stablecoin supply, raised eyebrows, especially considering the all-time low of 9.6. Analysts suggest that a low SSR might mean more crypto-native capital could be on its way to Bitcoin and other digital assets, which could be a silver lining amid the clouds.
The DeFi Darlings!
As the altcoin season heats up, decentralized finance (DeFi) tokens are stealing the limelight. Investors are champing at the bit to explore the fundamentals and technicals of three DeFi tokens that have recently seen a favorable uptake. It’s an exhilarating time for altcoins, especially for fans of decentralized finance—let’s buckle up!
+ There are no comments
Add yours