ETH rallied above $ 3,900 today, even though Bitcoin had trouble resuming the momentum after a large-scale sale.
Bitcoin was held stable while Ethereum extended recent gains on Monday July 28, because the wider cryptography market remained mixed after a volatile week.
Bitcoin (BTC) is negotiated at around $ 118,380, flat in the past 24 hours and recovers from a brief but stiff at the end of last week, when more than 80,000 BTC – worth more than $ 9 billion – have been sold by a longtime holder.
Ethereum (ETH) has increased sharply, briefly exceeding $ 3,900 earlier during the day, before settling nearly $ 3,800 to record any change in the last 24 hours, according to Coigecko data.
XRP (XRP) is also mainly stable during the day and is negotiated at $ 3.17, down 13% in a weekly time, while Solana (soil) is 1.3% in green and is negotiated at $ 188.30.
The total market capitalization of cryptocurrencies is just below 4 dollars, down 4% in the last 24 hours. The volume of negotiation between scholarships reached $ 174 billion during the same period.
About 353 million dollars in cryptographic positions have been liquidated in the last 24 hours, with Bitcoin representing nearly $ 56 million, followed by ETH at around $ 124 million, according to Corglass data.
ETH stands out
The weekly report of Coinshares suggests that the Ethereum rally could be a sign of an ALT season starting – with notable flows in XRP, Sol et Su – but that the data is always “not very conclusive”.
The ETH ETFs attracted $ 1.85 billion in entries last week, the second weekly total registered. The updated year entries in ETH have already exceeded 2024, noted Coinshares.
Ethereum’s gains are following a renewal of the interests of investors and recent comments by Mike Novogratz de Galaxy Digital, which said Thursday in an interview that ETH could surpass the BTC in the “three to six months” due to limited liquidity. A day later, Galaxy revealed that he had facilitated the sale of 80,000 BTC for what he described as a “Satoshi-Ere” investor who managed inheritance planning.
The transaction briefly pushed Bitcoin to almost $ 115,000 on Friday, but the recovery at the current levels suggest that the market absorbed the event with relative calm.
