2021-5-6 15:42 |
With Bitcoin above $58,000, Ether around $3,500, and the total crypto market cap on the way to hit $2.5 trillion, we are in the midst of a bull rally, which according to some, could very well be a super cycle, no deep 90% retracements this time.
BTC 3.61%
Bitcoin / USD
BTCUSD
$ 57,698.67
$2,082.92
3.61%
Volume 68.76 b
Change $2,082.92
Open $57,698.67
Circulating 18.7 m
Market Cap 1.08 t
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2 min
Fed Inviting Public Comments on its 'Account Access Guidelines' that Promotes Banking Innovation
22 min
Ethereum Fork ETC Trading 12% Higher on Coinbase, CAKE Wicks Down Over 13.5% on Binance
18 h
JPMorgan's Jamie Dimon Still Has ‘No Interest’ in Bitcoin Despite Growing Adoption
ETH 3.47%
Ethereum / USD
ETHUSD
$ 3,494.01
$121.24
3.47%
Volume 44.35 b
Change $121.24
Open $3,494.01
Circulating 115.76 m
Market Cap 404.47 b
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22 min
Ethereum Fork ETC Trading 12% Higher on Coinbase, CAKE Wicks Down Over 13.5% on Binance
16 h
WallStreetBets Launches Blockchain-Powered Exchange Traded Portfolios, Ran Through A DAO
20 h
Ether Retraces to Trade Under $3,400 But Several Catalysts Are Still Present to Sent it Higher
While it’s to be seen how the institutional adoption of crypto would change the market structure, right now, everything is in up only mode.
During the uptrend this week, some woes were encountered when Treasury Secretary Janet Yellen spooked the market with the talks of raising the interest rates to prevent overheating of the economy.
The markets easily shrugged that burden and had already started rallying. However, some retracements after new highs can be seen in every other coin, which sometimes gets exacerbated.
During this latest such pullback, the popular BSC-based DeFi protocol PancakeSwap’s native token CAKE encountered such an anomaly.
The price of CAKE has been growing like crazy as BSC gained traction due to high fees on Ethereum network pricing out small users. In the past six months, the token has rallied more than 19,000%.
Down about 15% from its all-time high of $44 about a week back, CAKE is currently trading at $37.87.
CAKE -5.49%
PancakeSwap / USD
CAKEUSD
$ 37.73
-$2.07
-5.49%
Volume 405.99 m
Change -$2.07
Open $37.73
Circulating 163.03 m
Market Cap 6.15 b
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22 min
Ethereum Fork ETC Trading 12% Higher on Coinbase, CAKE Wicks Down Over 13.5% on Binance
23 h
Binance Smart Chain (BSC) Is Feeling the Pressure of the Heightened Network Demand
2 d
Another Binance Smart Chain (BSC)-based DeFi Protocol Gets Exploited for Over $30 Million
On Wednesday, the price of CAKE against the BUSD pair on Binance took a drop to $32 while keeping around $37 elsewhere.
Big $CAKE wick down to $32 on the binance BUSD pair. R.I.P. if you were leveraged long pic.twitter.com/8xqMzdltDP
— Depression (BitMEX) (@depression2019) May 6, 2021
While this could be the result of someone fat-fingered their order, things are more interesting on the Ethereum fork Ethereum Classic (ETC) front. A blockchain that has been 51% attacked several times is still able to see its token surge 163% in the past week.
ETC is currently the 17th largest cryptocurrency with a market cap of $20.4 billion, finally catching up with the bull market.
The primary reason for this rally is Robinhood, where ETC is one of the seven other cryptos listed on the platforms. Much like Ethereum Classic, other old coins, Bitcoin Cash (BCH), Bitcoin SV (BSV), and Litecoin (LTC), are also increasing in value after DOGE has enjoyed an eye-watering surge of 10,500% to $0.68.
BCH 16.11%
Bitcoin Cash / USD
BCHUSD
$ 1,409.27
$227.03
16.11%
Volume 14.88 b
Change $227.03
Open $1,409.27
Circulating 18.73 m
Market Cap 26.39 b
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22 min
Ethereum Fork ETC Trading 12% Higher on Coinbase, CAKE Wicks Down Over 13.5% on Binance
1 d
Bitcoin and Ether Record The Largest Inflows Since February: CoinShares Report
2 d
DOGE Hits A New ATH, Now Halfway to $1, as A Major League Baseball Team Accepts it as Currency
BSV 8.65%
Bitcoin SV / USD
BSVUSD
$ 417.30
$36.10
8.65%
Volume 3.66 b
Change $36.10
Open $417.30
Circulating 18.73 m
Market Cap 7.81 b
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22 min
Ethereum Fork ETC Trading 12% Higher on Coinbase, CAKE Wicks Down Over 13.5% on Binance
3 w
Robinhood Reports 50% More Active Crypto Users at 9.5 Million Than Coinbase
4 w
Bitcoin Takes A Dive & Altcoins’ Drop Hard, But People Are Still 'HODLing and Not Selling'
LTC 1.11%
Litecoin / USD
LTCUSD
$ 348.68
$3.87
1.11%
Volume 10.67 b
Change $3.87
Open $348.68
Circulating 66.75 m
Market Cap 23.28 b
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22 min
Ethereum Fork ETC Trading 12% Higher on Coinbase, CAKE Wicks Down Over 13.5% on Binance
18 h
Grayscale Partners with New York Giants, Becoming the Second Crypto Sponsor of an NFL Team
22 h
Bitcoin and Ether Aren't the Top Traded Crypto's on Binance Or the Biggest South Korean Exchange
With Ethereum Classic having a history with the second-largest cryptocurrency, which has been the blockchain on which the DeFi sector is primarily built and recently went to a new ATH up over a million percent from its ICO price, people without a good understanding of the crypto market might have also been seeing ETC as a cheap alternative.
Not just millions of Robinhood customers but millions of Coinbase retailers are also jumping on the chance much like South Koreans.
ETC/USD is currently the second most traded pair on Coinbase Pro, trading at nearly $117, and also on the largest South Korean exchange Upbit at almost $113 while it is at $104.8 on Binance, as of writing.
Ethereum Classic/USD ETCUSD 116.5614 $64.38 55.23% Volume 27.8 b Change $64.38 Open$116.5614 Circulating 116.31 m Market Cap 13.56 b baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=ETC&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); var single_widget_subscription = single_widget_subscription || []; single_widget_subscription.push("5~CCCAGG~ETC~USD"); The post Ethereum Fork ETC Trading 12% Higher on Coinbase, CAKE Wicks Down Over 13.5% on Binance first appeared on BitcoinExchangeGuide.Similar to Notcoin - Blum - Airdrops In 2024
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