Bitcoin Price Gearing Up To Conquer 27k Resistance, Altcoins Follow Suit
Bitcoin's price surged past resistance at $27,000 on Monday, boosting sentiment for most cryptocurrencies. Ethereum also saw gains, reaching above $1,600 but stalling at $1,650. Other altcoins such as XRP, Cardano, and Toncoin also performed well, with gains ranging from 2.5% to 4.5%. The total market capitalization increased by 1.4% to $1.1 trillion, indicating a bullish trend. However, if Bitcoin fails to break through the $27,000 resistance, it may revisit the next major support area at $25,000.
Former Goldman Sachs Executive Raoul Pal Endorses Solana as Top Altcoin Pick and Ethereum Rival
Raoul Pal, a former Goldman Sachs executive, has named Solana (SOL) as one of his top altcoin picks and believes it could be the most promising project outside of Ethereum (ETH). Pal praises Solana co-founder Anatoly Yakovenko for his thought leadership and ability to build bridges within the crypto space.
Crypto Market Starts Week on Positive Note with Major Cryptocurrencies Seeing Upward Trend
Major cryptocurrencies saw positive performance on Monday, September 18, with investors regaining confidence in digital currencies. Bitcoin's price rose 0.15% to $26,585.27 over the last 24 hours, while Ethereum's price remained flat at $1,629.15. XRP's price increased by 0.11% to $0.4973, and Litecoin's price added 1.06% to trade at $64.63.
Data: On the First Anniversary of the Merger of Ethereum, the Supply of Eth Has Decreased by Nearly 300,000 Pieces, and the Amount of Eth Destroyed Has Exceeded 980,000 Pieces
Ethereum executed the beacon chain merge on September 15th, 2022, and today marks the one-year anniversary of the merge. According to on-chain data provider Ultrasound.money, the Ethereum supply has decreased by 299,722.81 ETH since the merge, keeping Ethereum in a state of deflation. In addition, the amount of ETH burned since the merge has reached 981,698.48, worth approximately $1,655,780,441.
Metis Plans to Become Ethereum’s First Fully Decentralized L2 This Year
Metis plans to become Ethereum's first decentralized L2 this year, allowing its community to take control of critical centralized components of the network.Metis co-founder Elena Sinelnikova said that by authorizing community control of the decentralized sequencer pool, Metis aims to demonstrate the advantages of maintaining L2 scalability while reducing centralization risks.
XRP Price Increases 3% to $0.5 Due to New Bitcoin ETF Filing and Positive US CPI Data
XRP's price has risen by 3% to reach $0.5, thanks to positive US CPI data and a new Bitcoin ETF filing by Franklin Templeton Investments. The cryptocurrency has broken out of a falling wedge pattern and could potentially reach $0.7. Ripple is planning to hold a "Proper Party" on September 29 to celebrate its win against the SEC, with potential announcements including an IPO.
Ethereum's Transition to Proof of Stake Results in Significant Energy Reduction and Network Access Improvement, but Liquid Staking Raises Centralization Concerns
Ethereum has made significant progress in reducing energy consumption and becoming economically deflationary since transitioning to proof of stake a year ago, but technical challenges persist. The Merge, which took place on September 15, 2022, resulted in a 99.9% reduction in energy use and the dominance of liquid staking providers like Lido.
friend.tech’s 24-Hour Agreement Revenue Reached US$2.27 Million, Surpassing Lido to Rank Second
According to DefiLlama data, the 24-hour protocol revenue of friend.tech reached 2.27 million US dollars, ranking second only to Ethereum and surpassing Lido.
ZachXBT: Donors on Ethereum, Arbitrum and zkSync Can Already Apply for Refunds Within One Year
ZachXBT that a smart contract allowing for legal refund requests has been deployed on Ethereum, Arbitrum, and zkSync. All donors can apply for a refund within the next 365 days, with the refunded amount adjusted proportionally based on legal fees incurred. Due to compatibility issues, all zkSync donors must claim their refund on Arbitrum.
The Entire Network Liquidated $167 Million in the Past 24 Hours
September 12th, according to Coinglass data, the entire network liquidated $167 million USD in the past 24 hours, of which long positions were liquidated for $150 million USD, Bitcoin was liquidated for $77.5699 million USD, and Ethereum was liquidated for $33.8199 million USD.
