Bitcoin
Bitcoin, priced at $56,380.14, is currently testing to stay afloat at its 24-hour support level of $56,278.22. With the asset’s 24-hour resistance level at $58,029.98, Bitcoin’s price has tanked a little less than 1% after it reached $56,813 on September 19th, before the first presidential debate for the U.S. elections. The price took a downturn, especially at 4:00 a.m. UTC, 30 minutes after the debate ended, possibly due to the unsure stance of Kamala Harris on cryptocurrencies.
Ethereum
Ethereum is currently trading at $2,325.41, down 0.92%. Ethereum’s market capitalization has also plummeted down by 0.16%. Vitalik Buterin, Ethereum’s founder, has continued to donate ETH amid the already declining value of Ethereum. To add, the recent sell-off spree took place on September 9, wherein a foundation-linked wallet liquidated 760 Ether for $1.835 M USDC. Additionally, macro uncertainties in the crypto market have significantly increased ahead of the November elections, and any minor changes in Etherum’s value are the asset recorrecting its course.
Solana
While all other cryptocurrencies have found themselves in a puddle, Solana reached a historic high of daily active addresses in blockchain’s history with 5.4 million daily active users recently. As of September 11th, the asset is valued at $131.42, a slight dip from the 24-hour high of $134.08. Currently, Solana is experiencing bearish market momentum, with chances for revival being low this week.
XRP
XRP is currently trading at $0.532 and has seen a 1.03% change in the last 24 hours. While the entire crypto market has been affected by the macro uncertainties, whale activity on XRP remains quite stable, with a +1.15% change in the last seven days. This indicates that XRP is still on the radar of whales, and prices might reflect an increase soon.
DOGE
After reaching $0.10338, Dogecoin is currently trading at $0.09985, a dip of 2.62% in 24 hours. The father of meme coins, DOGE, also came under the fire of the bearish sentiment in the market. However, going by its last 7-day performance, DOGE now is 4.83% up.
The global stock market, along with the crypto market, has been affected by the global economic downturn ahead of the U.S. elections. Nevertheless, the crypto market has managed to keep pace with the current headwinds and is now officially in a recovery phase.
