The global crypto market is up by 0.71%, hovering around $2.3 trillion with an FGI of 58 points for neutral sentiments. Making headlines today are the outages that World Liberty Financial faced at the time of selling tokens. Call it excitement—whatever else it is, it was triggered by a number of technological issues on the platform. This was a hindrance to investors who genuinely wanted to get their hands on the token. Nevertheless, the site reported that it was able to sell 500 million tokens for 1.5 cents each. The data remains true as of 1:48 pm New York Time.
A surge in the price of Bitcoin tokens has fueled overall liquidity to $285 million. For a brief period, BTC traded above $68,000 before retreating to a lower value.
ETH Hit, BTC Upticks
Ethereum tokens are down by 0.98% in the last 24 hours but have been able to sustain the level of $2,600. Ether tokens were last seen trading at $2,612.69, which further reflects a surge of 6.87% in the last 7 days. ETH had previously outperformed the flagship cryptocurrency, Bitcoin, but is currently experiencing a decline. Grayscale led the majority of the net outflow of $12.7 million from Spot Ethereum ETFs on October 15, 2024.
Bitcoin is exchanging hands at $67,022.67, up by 2.52% in the last 24 hours and 7.54% in the previous 7 days. BTC briefly teased an uptick beyond $68,000, signaling something positive that could come before the US Presidential elections happen or another rate cut is announced by the Federal Reserve. The target is to reach $75,000 by the end of this month, that is, October. Spot Bitcoin ETFs noted a massive net inflow of $371 million, with BlackRock alone reporting $288.8 million worth of inflows on October 15, 2024.
Meme Coins Move in the Opposite Direction
Meme Coins are seen declining instead of following the trend set by major cryptos. For instance, Shiba Inu price prediction is down by 0.55%, and PEPE has lost almost 2.99% of its token value. Dogecoin has experienced a gain of 1.40%, following an earlier downward trajectory of around 0.70%. DOGE and SHIB are exchanging hands at $0.1181 and $0.00001825, applicable in the same order.
Every other meme coin on the market is experiencing a downward trajectory, making it difficult to pinpoint its exact position. Investors are likely transitioning to BTC, ETH, and other similar tokens temporarily by selling previously accumulated meme coins for a profit.
Other Gainers and Losers
XRP and SOL are down by 0.87% and 0.65%, respectively, in a single day. Their values are $0.5415 and $154.04, applicable in the same order. Both remain strong contenders for having their ETFs launched next year. BNB is up by 1.49% for a value of $592.62.
BONK and FLOKI are down, but all sights are on POPCAT, for the cat-themed meme coin has lost over 8% of its value in the last 24 hours. It is now trading at $1.25.
Conclusion
Several factors will likely influence the entire crypto market: US elections, geopolitical tensions, and rate cuts, among others. What remains to be seen is if BTC and ETH will mark a new high before October ends.
Disclaimer: Values were true at the time this article was written. This content is not investment advice.
