Crypto Today: Bitcoin, Ethereum and XRP note slight increase on Thursday

Bitcoin, Ethereum and XRP updates

• Bitcoin price increases on Thursday, BTC holds onto recent gains. Data from Farside Investors shows that Bitcoin-based funds observed inflows of $192.4 million. 
• Ethereum stays above key support at $2,500. This level is considered psychologically important for the altcoin. 
• XRP trades above $0.5300, climbing slightly on the day. 

Chart of the day: Book of Meme (BOME)

BOME ranks among the top cryptocurrencies that yielded relatively high gains for holders in the past 24 hours. The technical indicators on the daily price chart support a bullish thesis for BOME. 

The Moving Average Convergence Divergence (MACD) shows green histogram bars above the neutral line. The Relative Strength Index (RSI) nears 63 with more room until the indicator hits the “overbought” region at 70. 

BOME could extend gains by 8.2% and test the resistance at $0.01050. It marks an important resistance, which was breached successfully only once in over two months. 

BOME/USDT daily chart 

If BOME closes under the 200-day Exponential Moving Average (EMA) at $0.00933, it could invalidate the bullish thesis for the meme coin. BOME could sweep support at a level that coincides with the FVG at $0.00834. 

Market updates 

• Denmark sees the first proposal in the world that recommends a 42% tax on unrealized crypto gains, raising concerns among crypto traders and market participants. 
• Kraken, a cryptocurrency exchange platform, has plans to launch its blockchain in 2025, powered by Optimism, an Ethereum Layer 2 scaling solution. 

• The largest centralized crypto exchange, Binance, announces the launch of Solana-based GOAT Perpetual Contracts in its derivatives trading product. 

Industry updates 

• Binance executive Tigran Gambaryan, who was reportedly held in a prison in Nigeria, has finally been released after nearly eight months. CEO Richard Teng shared the details of Gambaryan’s release and Binance’s plan in an official tweet on X. 

• Chainlink expands to the Bitcoin blockchain through an integration with Layer 2 chain Botanix Labs. 

• Analysts at crypto intelligence tracker Santiment note that crypto markets have corrected alongside equities amidst rising speculation of the end of the bull market. Analysts identified the top three crypto tokens with a market capitalization of over $500 million, Chainlink, Bitcoin and GOAT Rollup.