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Ethereum’s market power has fallen to a 13% range low. The decline in market share comes amid weakening demand, increasing supply, and Bitcoin’s growing dominance. Ethereum (ETH) has underperformed against Bitcoin (BTC) over the past year. For example, Bitcoin is up over 120% year-over-year (YoY), while Ethereum is up about 50%. Ethereum’s poor performance has continued its market dominance to the lows. At the time of writing, it was 13.85%, a notable decline from the year’s high of nearly 20%. Source: TradingView Several factors are contributing to the decline in the dominance of the largest altcoins and their poor performance…

Summary: Dogecoin’s price rose on Wednesday following a decline in the overall cryptocurrency market, but the memecoin faces insurmountable odds in the current market. Dogecoin’s price defied Wednesday’s broader decline in the crypto market, rising 1.6% and trading at $1.108 at the time of writing. DOGEUSD is at a potential inflection point, with price matching the 50 Exponential Moving Average (EMA) and approaching the 50 EMA level on the daily chart. DOGE limited options Global cryptocurrency markets are feeling the weight of geopolitical tensions in the Middle East, with investors taking a cautious approach. Risk-off psychology has reduced investors’ appetite…

(Bloomberg) — Wall Street traders braced for key inflation data as stocks hit record highs. U.S. Treasuries fell as the dollar recorded its longest winning streak in more than two years.Most Read Articles on BloombergThe S&P 500 neared 5,800 on the eve of a report in which consumer prices are expected to remain moderate. The index reached a record high for the 44th time in 2024, with tech stocks once again taking the lead. Apple rose 1.7%. Nvidia canceled the five-day rally. Tesla’s stock fell slightly ahead of the launch of its robotaxi. Alphabet fell 1.5% on news that the…

Bitwise CIO Matt Hougan said the company still expects Bitcoin prices to exceed $80,000 in the fourth quarter. Bitcoin’s chances of reaching its $80,000 goal depend on the upcoming US elections and the lack of market surprises. Bitfinex may be the sole recipient of 119,754 BTC recovered from past thefts. According to Bitwise Chief Investment Officer Matt Hogan, if there are no surprises in the market and the upcoming election does not impact investor sentiment, Bitcoin (BTC) will reach 80,000 yen by the end of the year. It is said that it could reach US$. Meanwhile, the US government considers…

Cryptocurrency adoption is on the rise in Argentina, with a correlation between the use of stablecoins and the devaluation of the country’s currency, according to a new report. Argentina has the highest stablecoin usage in the region, with South America’s stablecoin trading volume accounting for 61.8% of all crypto transactions, and Brazil’s Higher than 59.8%. Only Colombia was higher at 66%.According to Chainalysis, the reason for the surge in the use of these assets in Argentina, a country with one of the highest inflation rates in the world, is that people are using stablecoins to gain exposure to the US…

Amid the launch of Ripple’s new RLUSD product, the stablecoin market has discovered a new challenger to Circle and Tether’s continued dominance. In fact, according to a report from CryptoQuant, stablecoin liquidity has reached a new record of $169 billion. That number should be even higher for newcomers looking to build on the Big Three.There is no denying the dominance of both USDT and USDC in the stablecoin market. However, the potential of Ripple’s RLUSD token cannot be underestimated. The company’s importance in cross-border payments has seen it emerge as a strong challenger to the sector’s two biggest assets.Source –…

Level Money, an Ethereum-based stablecoin protocol, reached an all-time high in total value locked (TVL) of $6.5 million on Wednesday, after surging 262% in the last month, according to data from DefiLlama. This platform operates as a Collateralized Debt Position (CDP) product. This allows users to deposit stablecoins such as USDC and USDT to mint lvlUSD, a native stablecoin that reflects the value of the US dollar while also generating yield. Level Money positions itself as the first stablecoin to leverage the re-staked USD stablecoin. lvlUSD holders earn interest while their stablecoin deposits are re-staken to secure blockchain services. Level…

The market capitalization of cryptocurrencies fell from $2.4 trillion to $2.201 trillion as of early October. Memecoin showed signs of recovery, with its market capitalization recovering to $49 billion by October 7th. After a significant decline in market capitalization over the past week, cryptocurrencies may show signs of recovery in the coming week. Major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and memecoins suffered notable losses during last week’s market crash. However, recent trends suggest a possible recovery, and the stage is set for a more positive outlook in the coming days. Trends from previous week Last week, the entire…

Blockchain technology is transforming entire industries. Entertainment is no exception. In fact, blockchain was initially associated only with cryptocurrencies such as Bitcoin. However, it has evolved into a revolutionary tool. This tool is redefining how people create, share, and monetize content. It brings transparency, security, and new ways to generate revenue for media and entertainment. Enabling decentralization allows creators to maintain ownership of their work. You can also avoid copyright infringement and receive fair compensation. The industry is increasingly turning to blockchain as audiences seek greater control and direct access. Let’s take a look at how it’s shaking up the…

The European Central Bank (ECB) has challenged the idea that stablecoins are a “safe haven” for investors during market turmoil, stating that they are in fact heavily influenced by US monetary policy. revealed.This research paper investigated the link between US monetary policy, money market funds (MMFs), and stablecoins. “Monetary policy, particularly the US dollar, is the linchpin that connects crypto markets and traditional financial markets,” the authors concluded.The paper argues that stablecoins (with fixed prices, typically pegged to fiat currencies, often the U.S. dollar) can be used to increase the value of stablecoins from within traditional financial markets, such as…