Gainers

The cryptocurrency market is experiencing turbulence, with major coins like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP witnessing price drops. Investors are closely watching as global factors and market volatility continue to impact digital asset prices.

Bitcoin Price Today

Bitcoin’s price remains resilient, hovering around $60,943 after a 0.5% drop in the last 24 hours. The coin’s intraday low reached $59,878.80, with a high of $61,469.04. This price movement aligns with significant outflows from Bitcoin ETFs, totaling $54.13 million as of October 3. Despite the decline, BTC dominance rose slightly to 56.97%, with a market cap of $1.2 trillion. Increased whale activity also caught the attention of market watchers, adding to speculation.

Ethereum Price Today

Ethereum (ETH) saw a slight decline, dropping over 1% to $2,364. The intraday low and high were $2,311.03 and $2,402.86, respectively. Spot Ethereum ETFs experienced outflows of $3.20 million. Like Bitcoin, ETH also saw increased whale activity, sparking curiosity among traders. The coin’s market cap stood at $284.76 billion.

Solana and XRP Prices Today

Solana (SOL) faced a sharper decline, falling nearly 4% to $137.32. Its low and high for the day were $133.55 and $142.81, respectively. XRP followed suit, dropping over 2% and trading at $0.5248, with its low at $0.5101 and high at $0.5412. Whale activity played a significant role in XRP’s decline, with large amounts being moved to exchanges.

Meme Coins and Market Performance

Among meme coins, Dogecoin (DOGE) managed to gain 0.5%, trading at $0.1067, while Shiba Inu (SHIB) fell by 1% to $0.0000165. Other meme coins, including PEPE, WIF, and BONK, saw declines of 7%-12%.

Top Gainers and Losers in the Market

Gainers:

Monero (XMR): Up 4%, now trading at $144.
Aave (AAVE): Gained nearly 3%, reaching $146.
Stacks (STX): Increased by 1%, trading at $1.89.

Losers:

Sui (SUI): Fell 16%, currently at $1.63.
Bonk (BONK): Dropped 12%, trading at $0.00002003.
Conflux (CFX): Down 12%, now at $0.1616.

The cryptocurrency market is showing signs of further turbulence, with price movements driven by both economic factors and whale activity. Investors remain cautious as global tensions add to the uncertainty.

This week, Bitcoin (BTC) led the market with an 8% gain, setting a bullish tone for the broader crypto market. Among the top performers were MATIC, KLAY, and FET, each showing impressive upward trends.

Polygon (MATIC) Poised for a $1 Rally?

Polygon (MATIC) surged by 32.19% this week, breaking out of a falling wedge pattern. Currently ranked 19th globally with a market cap of $5.321 billion, MATIC last traded at $0.5341, marking a 1.5% intraday gain.

REMINDER: MATIC to POL on SEPTEMBER 4

MATIC on Polygon PoS
– no action needed for POL migration

MATIC on Ethereum
– DEX aggregators like @1inch, @KyberNetwork, @CoWSwap have all natively integrated the migration contract for MATIC to POL swaps

gas is low anon 👀
— Polygon | Aggregated (@0xPolygon) August 16, 2024

Several factors contributed to this bullish trend, including the upcoming upgrade from MATIC to POL, slated for September 2024. This breakout follows a 145-day decline, which saw a 73% drop from its first-quarter peak. However, the recent rally has reduced this decline to 58%, showing renewed optimism for further price acceleration. MATIC has already pierced the 50-day EMA, with the 200-day EMA in its sights.

Klaytn (KLAY) Bounces Back from All-Time Lows

Klaytn (KLAY) gained 32.69% this week, making it one of the top crypto gainers. After a prolonged downturn, KLAY responded to buyer demand, breaking out of a falling wedge pattern. As of now, KLAY ranks 95th globally with a market cap of $647.454 million and last traded at $0.1705, despite a slight 1% intraday dip.

🤝 We are excited to partner with @K300Ventures to foster ecosystem growth as we gear up for Kaia mainnet launch from the merger of @Klaytn_Official and @Finschia!

K300 Ventures’ media arm, @TCVNcommunity will also provide additional support to Kaia in community growth not… pic.twitter.com/pyLoz2jL0f
— Kaia (prev. Klaytn & Finschia) (@KaiaChain) August 21, 2024

Optimism surrounding the upcoming Kaia mainnet launch, a merger of Klaytn and Finschia scheduled for August 29th, has fueled this rally. The spot volume inflow also increased by 36.31%, suggesting that KLAY may either consolidate or pull back before continuing its upward momentum.

Fetch.ai (FET) Surges with Artificial Superintelligence Alliance

Fetch.ai (FET) has been making headlines with a 28.44% gain this week, driven by its involvement in the new Artificial Superintelligence Alliance. This initiative merges Ocean Protocol (OCEAN) and SingularityNET (AGIX) into FET, which will eventually be rebranded under a unified token, ASI.

Thankyou @kucoincom for supporting the future of Decentralized AI and the Artificial Superintelligence Alliance token merger, completing the OCEAN & AGIX to FET migration process.

Your support is valued by everybody in the community and the team!https://t.co/bpHDF39aIG pic.twitter.com/Bm035IJutX
— Artificial Superintelligence Alliance (@ASI_Alliance) August 21, 2024

FET saw a 10% intraday rise, reaching $1.060 and a market cap of $2.668 billion, placing it 31st globally. The spot volume inflow spiked by 52% to $221.90 million, indicating strong demand. FET’s breakout from the falling wedge pattern suggests further potential for rallying, especially if it can breach the 50-day and 200-day EMA bands.