CandleFocus Ether Outperforms Bitcoin as Token 2049 Concludes, Overall Crypto Market Stays Flat
2024-09-23
Author: Content Editor
The Asia trading week began slowly, with Bitcoin (BTC) up 1.2% and Ethereum (ETH) up 2.6%. However, Ether surpassed Bitcoin in daily gains as conferences Token 2049 and Solana's Breakpoint concluded in Singapore. ETH is trading above $2,600, while BTC is trading above $63,700. The market remains stagnant, with the CoinDesk 20 (CD20) up less than 1%. Short positions worth $64.23 million and longs worth $54.42 million were liquidated in the last 12 hours. There is speculation of another interest rate cut, with BTC up 9.5% in the last week and ETH up over 16%. Solana (SOL) remained flat, and Pendle, a company backed by Arthur Hayes' fund Maelstrom, saw a decline of over 6.5%. MOTHER, a memecoin promoted by Iggy Azalea, increased by 4.5% after announcing the development of a companion casino called Motherland. However, regulatory complexities may hinder its listing on major centralized exchanges.
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