Cryptos today: Bitcoin surpasses $ 23,000 and is already advancing more than 20% in the week; bad news is priced in, analysts say

Ethereum has on its side favorable data from the derivatives market, which has again indicated investor appetite for the first time in six months. With the current move above $1,500, ETH also surpasses the 50-day moving average for the first time since April, in yet another sign of optimism around the asset, which is less than two months away from experiencing a major update.

The ETH advance also benefits the Lido (LDO) platform token, which issues an ETH derivative that had been trading below the price of the underlying asset for fear of illiquidity – it can only be exchanged for ETH and deliver yield after completion of the transaction. expected update for the week of September 19.

The fate of Bitcoin, on the other hand, continues to divide opinion among cryptocurrency analysts. If on the one hand, there are those who point out that the current high should not last, others raise the possibility that BTC has already reached the market bottom – which would pave the way for a more prolonged jump.

For technical analyst Fausto Botelho, a pioneer of graphical analysis in Brazil, Bitcoin could rise to the point of keeping the $20,000 level safe in the event of a new sell-off on American stock exchanges.

“If it goes up now to $28,000 or $30,000, which would be the next target, we are talking about a 36% increase. If the American stock market drops soon, Bitcoin could drop 10%, for example, to $27,000, and then rise again. It is possible that we are seeing this,” Botelho told Crypto+.

cryptocurrencyPriceChange in the last 24 hours
Bitcoin (BTC)US$ 23,547.55+7.5%
Ethereum (ETH)US$ 1,552.47+1.4%
Binance Coin (BNB)US$ 267.34+2.8%
XRP (XRP)US$ 0.374649+4.8%
Cardano (ADA)US$ 0.529917+9.9%

Cryptocurrencies with the biggest gains in the last 24 hours:

cryptocurrencyPriceChange in the last 24 hours
Read DAO (LDO)$1.71+16.6%
Ecomi (IMO)US$ 0.00193276+16.1%
FraxShare (FXS)$6.77+13%
Dogecoin (DOGE)US$ 0.074201+11.7%
Enjin Coin (ENJ)US$ 0.630997+11.6%

Cryptocurrencies with the biggest drops in the last 24 hours:

cryptocurrencyPriceChange in the last 24 hours
Arweave (AR)US$ 15.31-3.3%
Chain (XCN)US$ 0.089150-2.5%
DAO Curve (CRV)$1.24-2.2%
AAVE (AAVE)$99.77-1%
Uniswap (UNI)$7.45-0.6%

Check out how cryptocurrency ETFs closed in the last trading session:

Hashdex NCI (HASH11)BRL 22.08+8.23%
Hashdex BTCN (BITH11)BRL 30.35+9.92%
Hashdex Ethereum (ETHE11)BRL 25.26+8.41%
Hashdex DeFi (DEFI11)BRL 25.48+3.03%
Hashdex Smart Contract Platform FI (WEB311)BRL 22.43+3.07%
QR Bitcoin (QBTC11)BRL 7.98+9.31%
QR Ether (QETH11)BRL 6.02+5.61%
QR DeFi (QDFI11)BRL 4.78+4.13%
Crypto20 EMPCI (CRPT11)BRL 6.04+5.04%
Invest NFTSCI (NFTS11)BRL 33.37+6.95%

See the main crypto market news for this Wednesday (20):

It’s even worth burning money to save the industry, says FTX billionaire

FTX co-founder and CEO Sam-Bankman Fried said he doesn’t mind losing some money if he manages to bail out companies and thereby keep the crypto infrastructure going.

“It’s okay to make a deal that is moderately bad to rescue someone,” the executive said at the Bloomberg Crypto Summit in New York on Tuesday.

Bankman-Fried said the need to be a “good and constructive actor in this space” justifies “burning a small amount of money”.

“The criterion is not ‘is this a good return on investment?’” he said. “It’s more about keeping the industry in general healthy.”

Fires the number of new Solana network addresses

Active wallets on the Solana network have grown 58% this year, outperforming other blockchains despite the price drop across the market, research by CoinMarketCap shows citing data from Glassnode and The Block.

New daily addresses refer to first-time wallet users on any blockchain network, which could signal growth and adoption.

At Solana, new users peaked at over 400,000 in May, before gradually decreasing to 240,000 users this week.

The number represents a considerable jump from the levels of December 2021, which saw 150,000 to 170,000 new users per day.

Dispute grows for Three Arrows’ position on Deribit exchange

A new dispute has been sparked behind the scenes of crypto hedge fund Three Arrows Capital’s bankruptcy filing around an indirect fund stake of nearly 17% in options exchange Deribit.

The position would be valued at $500 million, according to a document shared with CoinDesk by a person directly involved in the process.

The company’s share, however, may be worth much less, since, among other obstacles, participation is blocked by the judicial process.

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About Abhishek Pratap

Food maven. Unapologetic travel fanatic. MCU's fan. Infuriatingly humble creator. Award-winning pop culture ninja.

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