Crypto Today: Ethereum gains slightly, Bitcoin, XRP slip, traders keep eyes on BTC potential new all-time high
- Ethereum gains nearly 1% on the day, hovers around $2,700 on Wednesday.
- Bitcoin and XRP erase nearly 1% of their value, amidst anticipation of a fresh all-time high in BTC.
- The Crypto Fear & Greed Index turns to extreme greed on Wednesday.
Bitcoin, Ethereum and XRP updates
- Bitcoin trades at $71,886 at the time of writing, down 1% on the day. The largest cryptocurrency flirted with the previous all-time high of $73,777, and climbed to a peak of $73,620 on Tuesday.
- Ethereum is trading at $2,660, the altcoin gained nearly 1% on the day. The altcoin is rallying ahead of a key market moving event, the US Presidential election.
- XRP slips lower, to $0.5230, erasing nearly 1% of its value, while traders keep eyes peeled for a rally in Bitcoin.
Chart of the day: EigenLayer (EIGEN)
EigenLayer ranks among the top cryptocurrencies on Binance that yielded high gains for traders in the last 24 hours, on the exchange’s spot markets. EIGEN trades at $3.117 at the time of writing, the token could extend its gains by 9.60% and climb to the upper boundary of the Fair Value Gap (FVG) at $3.411.
The Moving Average Convergence Divergence (MACD) indicator shows green histogram bars, above the neutral line. EIGEN likely has positive underlying momentum in its price trend.
EIGEN/USDT 8-hour chart
If there is a correction in EIGEN, the token could sweep liquidity at the October 29 low of $2.826.
Market updates
- The Crypto Fear & Greed Index reads 77 on Wednesday, traders turn “extremely greedy” after over a month of “greed.” Typically, this is considered a sell signal.
Crypto Fear & Greed Index
- A Coindesk report notes there is a huge uptick in Btcoin call option buying on CME and demand for short-term lending has increased. Institutional investors are likely preparing for rising crypto prices as the US Presidential elections approach.
- Bitcoin spot ETFs recorded a net inflow of $870 million on October 29, the highest level since June 5.
Industry updates
- Chainlink introduced a key upgrade, CCIP v1.5 upgrade with security and privacy enhancements for users, per an official tweet on X.
Introducing the CCIP v1.5 upgrade.
— Chainlink (@chainlink) October 30, 2024
Cross-Chain Token (CCT) standard
Self-serve token onboarding
️ CCIP SDK & Token Manager
️ Security & privacy enhancements
Here's why #Chainlink CCIP is the #1 choice for building cross-chain ⬇️https://t.co/mO24Gp1jr9
- According to Visa and Coinbase’s partnership announcement, customers of Visa can integrate their eligible debit card into their exchange account and deposit funds instantly.
- PEPE becomes first meme coin to be listed on a crypto exchange in Japan. BitPoint Japan announces the start of PEPE’s trading, lending and fixed investment on its platform.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
