First mover Americas: BTC holds $26K, Hedera’s HBAR jumps
Bitcoin rose slightly on Thursday as traders digested concerns of a ruling in the FTX court case that temporarily spooked markets earlier this week. BTC added less than 1% over the past 24 hours to trade over $26,300 at the time of writing. Hedera Hashgraph (HBAR) and Solana’s SOL led gains amongst major tokens, rising 6% and 3%. Hedera announced on Wednesday at Token 2049 in Singapore that Stablecoin Studio, its open-source stablecoin issuance and management toolkit, is live. The CoinDesk Market Index (CMI), a broad-based index that tracks the prices of hundreds of tokens, rose 1.67% in the past 24 hours.
The combined market capitalization of cryptocurrencies has jumped in the last 24 hours as traders anticipate no monetary policy action after the latest U.S. inflation data.
Ethereum network’s largest scaling solution, the Polygon network, officially proposed on Thursday three key changes ahead of its Polygon 2.0 upgrade. The proposals, which still have to be approved by the community, include the creation of a new POL token, which will replace the current MATIC token.
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Avalanche rallies following launch of incentive program for developers
Avalanche announced the launch of Retro9000 on Thursday as part of its larger Avalanche9000 upgrade. Retro9000 is a program designed to support developers with up to $40 million in grants for building on the Avalanche testnet.
Bitcoin still consolidates despite positive spot ETFs demand
Bitcoin (BTC) trades slightly up, around $64,000 on Thursday, following a rejection from the upper consolidation level of $64,700 the previous day. BTC’s price has been consolidating between $62,000 and $64,700 for the past week.
Why is ONDO’s price outlook bullish?
DefiLlama data shows that Ondo TVL reached a new ATH of $613.75 million. Ondo’s Supply Distribution metric shows whale accumulation. On-chain data shows that ONDO’s daily trading volume is rising, and the supply of exchanges is decreasing.
Maker price eyes a rally on technicals and on-chain metrics
Maker trades above $1,500 on Thursday, suggesting a potential rally as technical indicators show bullish divergence. This positive outlook is reinforced by MKR’s Exchange Flow Balance, which shows a negative spike, indicating growing investor confidence in the platform.
Bitcoin: Fed-led rally could have legs towards $65,000
Bitcoin is poised for a second consecutive week of gains, supported by the recent 50-basis-point cut in interest rates by the Federal Reserve. Bitcoin broke above several key technical resistances this week, signaling a rally continuation.
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