BTC, ETH, BONE, and DYDX Prices Surge Ahead of Key Fed Talk
As the crypto industry awaits Federal Reserve Chair Jerome Powell’s imminent talk on the economic landscape at the Jackson Hole meeting, we witness significant movements in cryptocurrency prices. Notably, Bitcoin (BTC), Ethereum (ETH), Bone ShibaSwap (BONE), and dYdX (DYDX) are on an upward trajectory. As investors and enthusiasts keep a keen eye on Powell’s message, these currencies are making waves, giving investors reasons to be optimistic.
BTC and ETH Regain Momentum
With a trading volume of over $16 billion in just 24 hours, Bitcoin price has grown 1.62%, positioning itself at $26,475. The BTC/USD cryptocurrency pair`s market capitalization is around $508 billion, reinforcing its top rank on CoinMarketCap.
Ethereum, often considered the silver to Bitcoin’s gold, is not far behind its peers. Ethereum price surged nearly 2%, returning to the $1,650 mark. With decentralized finance (DeFi) and smart contracts’ ever-increasing relevance, Ethereum’s potential seems boundless.
BTC vs ETH 1-day price chart, Source: CoinMarketCap
Underdogs Making Noise: Shiba Inu’s BONE and DYDX
The crypto realm was abuzz with the recent news of Shiba Inu’s developer, Shytoshi Kusama, reigniting the Shibarium mainnet. This meticulously reviewed and tested resurgence of the Layer-2 blockchain has invigorated the value of Shibarium’s gas token. Consequently, Bone ShibaSwap (BONE) price has skyrocketed by 17.21% in the past 24 hours, hitting $1.39.
Emerging as the top gainer in the last 24 hours among the top 100 cryptocurrencies by market cap, dYdX’s governance token exhibited a rise of 9%. DYDX is currently trading at $2.18, the decentralized derivatives exchange boasts a 24-hour volume exceeding $589 million, a testament to its burgeoning popularity.
Today’s market paints a hopeful picture for crypto veterans like BTC and ETH and relative newcomers like BONE and DYDX. As the world watches the impending discourse at Jackson Hole, one can’t help but marvel at the potential and dynamism the crypto world showcases. With adaptability and resilience at its core, the market promises an exciting future for investors and enthusiasts alike.
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