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Biggest Stories of the Day: What’s Making Waves
CoinGape Media
August 09, 2024
News
Solana developers fixed a major vulnerability while maintaining confidentiality sparking diverse reactions within the community although many backed the move.
Solana contributors have revealed developments leading up to a major patch amid vulnerability. The initial patch which was done under confidentiality was disclosed to other public operators when a majority of the stake had been patched. Users shared mixed reactions with a majority lauding contributors for the quick response.
Grayscale Research has projected Bitcoin to retest its all-time high and other crypto assets to mark gains should the United States economy avoid a recession.
Asset management firm Grayscale has projected positive growth for Bitcoin (BTC), Ethereum (ETH), and other crypto assets on the back of macroeconomic factors. Although assets declined last month compared to first-quarter figures, the company noted that a swing in bullish factors could ignite market growth. Grayscale remains bullish on Bitcoin and other assets as the firm also rolled out new investment products.
Ethereum founder Vitalik Buterin recently moved nearly half a million worth of ETH to an unknown address, sparking speculations amid an 8% price upswing.
Ethereum’s Vitalik Buterin has ignited several speculations across the broader crypto market today, moving over half a million worth of ETH. On-chain data hovering over the horizon indicates 200 ETH, worth $535K, moved from a Buterin-linked address to an unknown wallet. This transaction has caused a bustle among global market participants, whereas other massive transactions by industry entities followed. So, let’s take a closer look at the latest on-chain developments surrounding Ethereum, the second-largest crypto by market cap.
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Markets
The crypto prices today have mainly taken a bullish turn, as seen by BTC and ETH gaining nearly 7% and 11%, respectively. However, massive options expiry loom over the horizon.
The crypto prices today have mainly embarked upon an attention-nabbing upward momentum. Bitcoin (BTC) price pumped unprecedently to catch a hold above $61K. Meanwhile, Ethereum (ETH) rallied roughly 11% to near the $2,700 price level. Simultaneously, Solana (SOL) witnessed considerable gains, although XRP traded in the red territory.
The global crypto market cap upsurged 6.36% to $2.15 trillion today. However, the total crypto market volume decreased 5.10% to $94.06 billion.
Here’s a brief report on some of the leading cryptocurrencies by market cap and their price action today, August 9.
Bitcoin options and Ethereum options expiry today with a put-call ratio nearing 1.0, indicating a close contest between bulls and bears.
Amid a week of strong volatility in the crypto market, $2.5 billion worth of Bitcoin options and Ether options will be expiring today amid a tight fight between the bulls and the bears. Both the assets – BTC and ETH – have been showing major strength gaining 7% and 10% respectively.
Ethereum price eyes correction after 30% surge, potential pullback to $2,400 could be buying opportunity, with bullish long-term outlook intact
Ethereum (ETH) price shows signs of exhaustion on the four-hour chart as it retests the daily imbalance. Investors can expect ETH to trigger a short-term correction before the uptrend could resume. This pullback could be a much-needed opportunity for sidelined buyers.