Stacks’sSTX/USD price has decreased 3.11% over the past 24 hours to $1.59, continuing its downward trend over the past week of -3.0%, moving from $1.64 to its current price.
The chart below compares the price movement and volatility for Stacks over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
The trading volume for the coin has fallen 5.0% over the past week, moving in tandem, directionally, with the overall circulating supply of the coin, which has decreased 0.04%. This brings the circulating supply to 1.48 billion, which makes up an estimated 81.62% of its max supply of 1.82 billion. According to our data, the current market cap ranking for STX is #38 at $2.36 billion.
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WisdomTree has launched a new cryptocurrency exchange-traded product (ETP), the US asset manager announced today, with a focus on the XRP digital currency.
The new WisdomTree Physical XRP (XRPW), joins the firm’s $1.1bn lineup of physically backed cryptocurrency products, designed to provide European investors with a straightforward, regulated means of investing in digital assets without direct ownership.
The XRP asset, native to the XRP Ledger (XRPL), has carved out a unique role for itself in the digital currency landscape, as a blockchain optimised for cross-border payments and high-speed transactions.
Bitcoin Hits $95K For The First Time Ever, Ethereum, Dogecoin Flat As Trump's Crypto Policy Takes Shape: Top Analyst Describes BTC's Path To $135K – Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARCA:BTC)
Bitcoin hit $95,000 for the first time ever, following reports of a cryptocurrency-focused role in the incoming Donald Trump administration.
Cryptocurrency
Gains +/-
Price (Recorded at 7:45 p.m. ET)
Bitcoin BTC/USD
+2.73%
$94,794.86
EthereumETH/USD
-0.98%
$3,083.96
DogecoinDOGE/USD
-0.87%
$0.3845
What Happened: The leading cryptocurrency briefly surpassed the never-seen-before level overnight on Wednesday before rebounding.
With the latest uptick, Bitcoin’s weekly gains jumped to nearly 5%, while its market dominance reached 60%. Its returns for November have shot past 33% already, against the historical average of 45%.
On the contrary, Ethereum, the second-largest cryptocurrency by market capitalization, slid below $3,100. It was down over 3.5% over the week.
Bitcoin’s rally followed reports of a dedicated cryptocurrency role in Trump’s administration that would act as a bridge between the White House, Congress, and regulatory agencies like the SEC and CFTC.
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Nearly $350 million in leveraged positions were liquidated from the cryptocurrency market in the last 24 hours, with long liquidations accounting for $241 million.
Bitcoin’s Open Interest (OI) surged 6.52% in the last 24 hours, implying heightened speculative interest among derivatives traders.
Most of the new bets favored Bitcoin’s price increase as the number of long positions increased vis-à-vis shorts, according to the Long/Shorts Ratio.
Market sentiment remained in the “Extreme Greed” zone, as per the Cryptocurrency Fear and Greed Index.
Top Gainers (24-Hours)
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Cryptocurrency
Gains +/-
Price (Recorded at 7:45 p.m. ET)
Floki (FLOKI)
+14.94%
$0.0002822
UNUS SED LEO (LEO)
+6.46%
$8.47
Tezos (XTZ)
+5.35%
$1.08
The global cryptocurrency market capitalization stood at $3.12 trillion, following an increase of 1.32% in the last 24 hours.
Stocks traded mixed on Wednesday. The S&P 500 ended the session flat, while the tech-heavy Nasdaq Composite slid 0.11% to close at 18,966.14. The Dow Jones Industrial Average
The Nasdaq Composite lifted 195.66 points, or 1.04%, to end at 18,987.47. The S&P 500 added 0.40% to close at 5,916.98. Meanwhile, the Dow Jones Industrial Average was the outlier, surging 139.53 points, or 0.32%, to end at 43,408.47.
Nvidia Corp.NVDA shares finished 0.76% lower ahead of third-quarter earnings, which eventually turned out to be better than expected.
.See More:Best Cryptocurrency Scanners
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Analyst Notes: Noted cryptocurrency analyst Ali Martinez drew a parallel with Bitcoin’s Dec. 2020 trajectory, observing a “nearly identical” Relative Strength Index (RSI).
“If true, BTC will go to $108,000, drop to $99,000, and bounce to $135,000,” Martinez added.
Another widely-followed analyst, Rekt Capital, stated that Bitcoin dips from the previously broken resistance would mean a “post-breakout retest.”
“These retests aren’t always necessary but BTC’s most recent downside wicking demonstrates that there is at least retesting intent in the price action,” the analyst remarked.
Photo by SvetlanaParnikova on Shutterstock
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President-elect Donald Trump’s team of advisers is holding talks with the digital asset industry about whether to form a new White House position focused on cryptocurrency policy, according to a media report.
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