Bitcoin rose nearly 2% on Tuesday, nearing its all-time high set in March. Riding the rise in Bitcoin, the prices of Ethereum and XRP are also rising. Stablecoin Tether CEO Paolo Ardoino denied allegations of a criminal investigation in the US in an interview with CoinDesk.
Bitcoin, Ethereum, XRP updates
Bitcoin was trading around $71,400 on Tuesday, 5% below its all-time high of $73,777. Ethereum rose 2% after creator Vitalik Buterin revealed his future plans for the altcoin in a blog post published on Wednesday. XRP price rose nearly 1% on the day, trading above $0.5200.
Today’s chart: SUI
Layer 1 blockchain token Sui (SUI) has become the second biggest gainer in the spot market over the past 24 hours. SUI rose 17.35% in the past 24 hours and posted an official announcement regarding the token’s staking feature.
SUI has been trending upward since August 5th. The token could extend its upside by 10.5% and test resistance at the upper end of the fair value gap (FVG) at $2.2089. On the way to this goal, SUI faces resistance at the lower bound of FVG at $2.1552.
The Relative Strength Index (RSI) is trending upwards, reading 55 above the neutral level. This indicates that the underlying momentum in SUI prices is somewhat positive.
SUI/USDT daily chart
If there is a correction in the token price, SUI could find support at the 10-day exponential moving average (EMA) of $1.7144.
Market updates
Analysts at QCP Capital point out that Bitcoin’s rise above $70,000 has created a “euphoria” in the market that has spread to crypto-related stocks. Data center company IREN Energy (IREN), Hut8 Corporation (HUT), and Bitcoin mining company BitDeer Technologies Group (BTDR) are among the stocks that have gained on the recent rise in Bitcoin prices. It is. On-chain intelligence firm Lookonchain has identified a large wallet address that withdrew BTC after the coin tested the $70,000 resistance level. The wallet has been withdrawing BTC consistently for the past 5 days. In an interview with CoinDesk, Paolo Ardoino, CEO of stablecoin issuer Tether (USDT), denied recent allegations of a criminal investigation into the stablecoin issue. “If the US wants to kill us, they can press a button anywhere and kill us. We are not going to fight the US,” he said. Ardoino said the company is “comfortable” with holding U.S. Treasury bills and reserves with U.S.-based Cantor Fitzgerald.
Industry updates
South Korean cryptocurrency exchange Bithumb has announced the addition of two new Korean won trading pairs: gaming chain token CARV and layer 1 blockchain token OMNI. According to CoinGecko data, Infinex Patrons is the third largest NFT collection following recent funding. This collection follows Crypto Punks and Bored Ape Yacht Club. Stablecoin issuer Circle has signed a memorandum of understanding (MOU) with Hong Kong Telecom (HKT), Hong Kong’s largest telecommunications company, to collaborate in developing blockchain-based customer loyalty solutions for customers in the region. We are exploring the possibilities of
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