Monday, July 1, 2024 – The cryptocurrency market kicks off the week on a positive note after a period of relative stability. Most currencies remained steady, but the standout event was Bitcoin’s price consolidation, surpassing the US$63,000 mark.
At the time of publication, Bitcoin (BTC) is priced at US$63,400, reflecting a 5% increase over the last 24 hours. Bitcoin’s dominance in the global cryptocurrency market is 50.8%, while Ethereum holds around 17%.
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Similarly, most major altcoins are experiencing a bullish trend. Solana is trading near $147.32, up 6%. Ethereum (ETH) is trading close to US$3,500, up 4%, and may continue to rise as the potential approval of Ethereum ETFs by the SEC in the United States approaches. Contrary to previous expectations, Ethereum ETFs will not be operational on July 4th as speculated. The exact timeline for these funds to begin operating remains uncertain and will depend on the SEC’s deadline for final filings.
In the altcoin market, most large-cap coins have remained stable. However, Ethereum Name Service (ENS), LayerZero (ZRO), Dogwifhat (WIF), BEAM, and Ethena (ENA) have recorded gains of over 10% in the last 24 hours.
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Pepe Coin (PEPE) is trading near $0.00001208, up nearly 10%, while leading memecoins SHIB and DOGE have shown modest gains, rising almost 5% in the last 24 hours. The market sentiment overall remains neutral but has improved significantly since the last survey, as indicated by the Crypto Fear and Greed Index, which stands at 53 points.
Disclaimer: The views and opinions expressed by the author or anyone mentioned in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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