• bitcoinBitcoin (BTC) $ 117,528.00
  • ethereumEthereum (ETH) $ 3,129.70
  • xrpXRP (XRP) $ 2.91
  • tetherTether (USDT) $ 1.00
  • bnbBNB (BNB) $ 689.04
  • solanaSolana (SOL) $ 163.86
  • usd-coinUSDC (USDC) $ 0.999843
  • dogecoinDogecoin (DOGE) $ 0.198764
  • staked-etherLido Staked Ether (STETH) $ 3,126.60
  • tronTRON (TRX) $ 0.300111
  • cardanoCardano (ADA) $ 0.744537
  • hyperliquidHyperliquid (HYPE) $ 48.15
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 117,359.00
  • suiSui (SUI) $ 4.08
  • stellarStellar (XLM) $ 0.449318
  • wrapped-stethWrapped stETH (WSTETH) $ 3,777.18
  • chainlinkChainlink (LINK) $ 16.03
  • bitcoin-cashBitcoin Cash (BCH) $ 497.23
  • hedera-hashgraphHedera (HBAR) $ 0.230813
  • avalanche-2Avalanche (AVAX) $ 22.41
  • wrapped-eethWrapped eETH (WEETH) $ 3,354.20
  • leo-tokenLEO Token (LEO) $ 8.83
  • shiba-inuShiba Inu (SHIB) $ 0.000014
  • the-open-networkToncoin (TON) $ 3.10
  • wethWETH (WETH) $ 3,130.08
  • litecoinLitecoin (LTC) $ 96.05
  • usdsUSDS (USDS) $ 0.999630
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
  • whitebitWhiteBIT Coin (WBT) $ 44.35
  • polkadotPolkadot (DOT) $ 4.07
  • moneroMonero (XMR) $ 334.50
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 117,592.00
  • uniswapUniswap (UNI) $ 9.38
  • pepePepe (PEPE) $ 0.000013
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • bitget-tokenBitget Token (BGB) $ 4.54
  • aaveAave (AAVE) $ 326.54
  • bittensorBittensor (TAO) $ 436.85
  • daiDai (DAI) $ 1.00
  • pi-networkPi Network (PI) $ 0.447017
  • crypto-com-chainCronos (CRO) $ 0.107736
  • aptosAptos (APT) $ 5.09
  • nearNEAR Protocol (NEAR) $ 2.66
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.18
  • internet-computerInternet Computer (ICP) $ 5.59
  • ondo-financeOndo (ONDO) $ 0.935272
  • ethereum-classicEthereum Classic (ETC) $ 19.00
  • okbOKB (OKB) $ 47.71
  • jito-staked-solJito Staked SOL (JITOSOL) $ 199.69
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • algorandAlgorand (ALGO) $ 0.282821
  • pump-funPump.fun (PUMP) $ 0.006762
  • mantleMantle (MNT) $ 0.711710
  • bonkBonk (BONK) $ 0.000030
  • kaspaKaspa (KAS) $ 0.087613
  • ethenaEthena (ENA) $ 0.358062
  • usd1-wlfiUSD1 (USD1) $ 0.999921
  • sei-networkSei (SEI) $ 0.378369
  • vechainVeChain (VET) $ 0.025129
  • arbitrumArbitrum (ARB) $ 0.433687
  • cosmosCosmos Hub (ATOM) $ 4.66
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.232256
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.032627
  • render-tokenRender (RENDER) $ 3.91
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.744294
  • fasttokenFasttoken (FTN) $ 4.51
  • susdssUSDS (SUSDS) $ 1.06
  • binance-peg-wethBinance-Peg WETH (WETH) $ 3,132.87
  • official-trumpOfficial Trump (TRUMP) $ 9.48
  • worldcoin-wldWorldcoin (WLD) $ 1.08
  • gatechain-tokenGate (GT) $ 15.56
  • filecoinFilecoin (FIL) $ 2.64
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 117,507.00
  • skySky (SKY) $ 0.078259
  • binance-staked-solBinance Staked SOL (BNSOL) $ 173.94
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 4.77
  • jupiter-exchange-solanaJupiter (JUP) $ 0.513587
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 3,282.04
  • kucoin-sharesKuCoin (KCS) $ 11.59
  • spx6900SPX6900 (SPX) $ 1.59
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,567.04
  • usdtbUSDtb (USDTB) $ 0.999705
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.996157
  • celestiaCelestia (TIA) $ 1.97
  • usdt0USDT0 (USDT0) $ 0.998630
  • nexoNEXO (NEXO) $ 1.32
  • injective-protocolInjective (INJ) $ 13.44
  • story-2Story (IP) $ 4.43
  • blockstackStacks (STX) $ 0.805832
  • fartcoinFartcoin (FARTCOIN) $ 1.24
  • optimismOptimism (OP) $ 0.700988
  • xdce-crowd-saleXDC Network (XDC) $ 0.075470
  • flare-networksFlare (FLR) $ 0.017446
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 3,289.91
  • mantle-staked-etherMantle Staked Ether (METH) $ 3,341.50
  • sonic-3Sonic (S) $ 0.357108
  • solv-btcSolv Protocol BTC (SOLVBTC) $ 117,530.00
  • polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon) (USDT) $ 0.999814
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.68
  • dogwifcoindogwifhat (WIF) $ 1.08
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 3,290.77
  • curve-dao-tokenCurve DAO (CRV) $ 0.753308
  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 3,386.64
  • immutable-xImmutable (IMX) $ 0.542154
  • the-graphThe Graph (GRT) $ 0.103178
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 1.00
  • flokiFLOKI (FLOKI) $ 0.000101
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 117,514.00
  • pax-goldPAX Gold (PAXG) $ 3,337.57
  • syrupusdcSyrupUSDC (SYRUPUSDC) $ 1.11
  • clbtcclBTC (CLBTC) $ 118,566.00
  • wbnbWrapped BNB (WBNB) $ 689.89
  • kaiaKaia (KAIA) $ 0.153397
  • vaultaVaulta (A) $ 0.554478
  • iotaIOTA (IOTA) $ 0.223363
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 184.24
  • paypal-usdPayPal USD (PYUSD) $ 0.999571
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.44
  • theta-tokenTheta Network (THETA) $ 0.834029
  • tether-goldTether Gold (XAUT) $ 3,327.42
  • msolMarinade Staked SOL (MSOL) $ 214.70
  • lido-daoLido DAO (LDO) $ 0.901880
  • galaGALA (GALA) $ 0.017757
  • jasmycoinJasmyCoin (JASMY) $ 0.016654
  • ethereum-name-serviceEthereum Name Service (ENS) $ 24.06
  • raydiumRaydium (RAY) $ 2.91
  • the-sandboxThe Sandbox (SAND) $ 0.313409
  • tokenize-xchangeTokenize Xchange (TKX) $ 8.83
  • aerodrome-financeAerodrome Finance (AERO) $ 0.848886
  • superstate-short-duration-us-government-securities-fund-ustbSuperstate Short Duration U.S. Government Securities Fund (USTB) (USTB) $ 10.75
  • pyth-networkPyth Network (PYTH) $ 0.123441
  • zcashZcash (ZEC) $ 43.87
  • ousgOUSG (OUSG) $ 111.81
  • saros-financeSaros (SAROS) $ 0.265236
  • tezosTezos (XTZ) $ 0.650898
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 3,349.08
  • memecoreMemeCore (M) $ 0.415665
  • super-oethSuper OETH (SUPEROETH) $ 3,124.84
  • bittorrentBitTorrent (BTT) $ 0.00000069
  • usdx-money-usdxStables Labs USDX (USDX) $ 0.998105
  • jito-governance-tokenJito (JTO) $ 1.89
  • pendlePendle (PENDLE) $ 4.06
  • morphoMorpho (MORPHO) $ 2.05
  • falcon-financeFalcon USD (USDF) $ 0.999861
  • cgeth-hashkey-cloudcgETH Hashkey Cloud (CGETH.HASH) $ 3,257.50
  • walrus-2Walrus (WAL) $ 0.471657
  • mog-coinMog Coin (MOG) $ 0.000002
  • chain-2Onyxcoin (XCN) $ 0.018724
  • flowFlow (FLOW) $ 0.400932
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.09
  • tbtctBTC (TBTC) $ 116,677.00
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 3,132.05
  • decentralandDecentraland (MANA) $ 0.315817
  • telcoinTelcoin (TEL) $ 0.006337
  • newton-projectAB (AB) $ 0.008685
  • usual-usdUsual USD (USD0) $ 0.997871
  • solv-protocol-solvbtc-bbnSolv Protocol Staked BTC (XSOLVBTC) $ 117,079.00
  • heliumHelium (HNT) $ 3.12
  • based-brettBrett (BRETT) $ 0.057176
  • wrapped-hypeWrapped HYPE (WHYPE) $ 48.10
  • coredaoorgCore (CORE) $ 0.551662
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 117,733.00
  • thorchainTHORChain (RUNE) $ 1.56
  • bitcoin-svBitcoin SV (BSV) $ 26.81
  • staked-hypeStaked HYPE (STHYPE) $ 47.96
  • apecoinApeCoin (APE) $ 0.666437
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 3,130.69
  • conflux-tokenConflux (CFX) $ 0.103179
  • starknetStarknet (STRK) $ 0.146127
  • ripple-usdRipple USD (RLUSD) $ 0.999665
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.198741
  • build-onBUILDon (B) $ 0.499653
  • usddUSDD (USDD) $ 1.00
  • true-usdTrueUSD (TUSD) $ 0.997338
  • arweaveArweave (AR) $ 7.50
  • beldexBeldex (BDX) $ 0.068672
  • syrupMaple Finance (SYRUP) $ 0.456457
  • reserve-rights-tokenReserve Rights (RSR) $ 0.008292
  • stader-ethxStader ETHx (ETHX) $ 3,326.67
  • deepDeepBook (DEEP) $ 0.193346
  • venomVenom (VENOM) $ 0.231199
  • dydx-chaindYdX (DYDX) $ 0.643065
  • 1inch1inch (1INCH) $ 0.337715
  • kavaKava (KAVA) $ 0.430510
  • ether-fiEther.fi (ETHFI) $ 1.22
  • compound-governance-tokenCompound (COMP) $ 49.19
  • neoNEO (NEO) $ 6.52
  • aioz-networkAIOZ Network (AIOZ) $ 0.385305
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 3,456.08
  • eigenlayerEigenCloud (prev. EigenLayer) (EIGEN) $ 1.43
  • elrond-erd-2MultiversX (EGLD) $ 15.81
  • apenftAPENFT (NFT) $ 0.00000045
  • zksyncZKsync (ZK) $ 0.059393
  • axie-infinityAxie Infinity (AXS) $ 2.56
  • ecasheCash (XEC) $ 0.000021
  • dog-go-to-the-moon-runeDog (Bitcoin) (DOG) $ 0.004236
  • dexeDeXe (DEXE) $ 7.35
  • turboTurbo (TURBO) $ 0.006100
  • swethSwell Ethereum (SWETH) $ 3,428.05
  • hashnote-usycCircle USYC (USYC) $ 1.09

Ether Is Going to Shine Again, Steno Research Says

0 43

Ether Is Going to Shine Again, Steno Research Says

Ether’s recent underperformance may be over, Steno Research said in a report.

The report noted that in the last bull market, during altcoin season, ether more than doubled in value compared to bitcoin.

The U.S. Federal Reserve’s interest rate cut will result in more onchain activity, which will benefit Ethereum.

Ether’s (ETH) recent bout of underperformance may be over and the world’s second largest cryptocurrency could be ready to shine again, both in fiat terms and relative to bitcoin (BTC), Steno Research said in a report on Thursday.

The native token of the Ethereum blockchain has risen nearly 8% year-to-date, while bitcoin has surged 43% and the CoinDesk 20 index {{CD20}} has gained nearly 11%.

Ether’s performance in the last bull market could provide some guidance. ETH surged during the last altcoin season, and in under two months it more than doubled in value compared to bitcoin, the report noted.

This shift was sparked by a surge in onchain activity, the report said, including decentralized finance (DeFi), stablecoin issuance, and the boom in non-fungible tokens (NFTs), all of which happened mainly on the Ethereum blockchain.

The Federal Reserve interest rate cut, earlier this week, will result in increased onchain activity, which will strongly benefit Ethereum, Steno said.

Bitcoin exchange-traded funds (ETFs) are unlikely to continue outperforming ether versions as much, Steno said, noting that ETH has shown its ability to suddenly outperform its larger rival in the past.

There have been three main reasons for bitcoin’s recent outperformance over ether. “The impact of U.S. spot ETFs for both bitcoin and ether, the persistent buying pressure from MicroStrategy (MSTR), and a notable decline in Ethereum’s transactional revenue in recent months,” analyst Mads Eberhardt wrote.

“Ethereum’s active addresses remain strong, particularly when factoring in the growing adoption of rollups,” Eberhardt wrote, adding that the network’s transactional revenue looks to have bottomed in August.

Asset manager Bitwise is also bullish about ether’s prospects. The cryptocurrency is potentially a contrarian bet into the year-end, it said in a report on Tuesday.



Source

Leave A Reply

Your email address will not be published.