Cryptocurrencies Price Prediction: Ethereum, Ethereum Classic & Solana — Asian Wrap 09 September

FXStreet Team FXStreet

DeFi market records a 14.7% YoY active user decline as TVL plunges by 68% to $58 billion

Ethereum made Decentralized Finance (DeFi) available to the crypto space when it introduced smart contracts, and the industry since then continued to flourish at a rapid rate. However, the bear markets of January and May 2022 took a severe toll on this growth, and the DeFi market has still not completely recovered from it.

Ethereum Classic Price Prediction: A case of sneaky divergence

Ethereum Classic price shows a strong divergence signal that could become the catalyst of a future penny-from-Eiffel style decline. Ethereum Classic price continues to be the topic of discussion amongst day traders. The ETC price saw an impressive 32% counter-trend rally during the first trading week of September.

Solana Price Prediction: A true bull run vs another suckers’ rally

Solana price has recovered 7% of market value amidst the most recent downtrend. SOL price does not show RSI divergence to securely call the bottom of the current mudslide. Invalidation of the downtrend is a breach above $40.28.

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Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

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Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

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