Ethereum joins Dogecoin, Cardano
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$94,772.00
1.21%$1,807.33
1.90%$2.24
2.21%$604.21
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44.03%$94,511.00
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13.90%$0.00910624
6.81%$1,891.28
1.99%$0.00605491
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2.31%$1.88
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1.45%$0.9999
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0.80%$0.383493
14.76%$0.559447
4.68%$0.176027
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0.71%$2.68
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0.02%$0.082333
0.76%$0.04372568
3.91%$0.00000042
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3.83%$44.69
0.92%$1,921.94
1.87%$1,806.92
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3.33%$1.00
0.01%$1,806.87
1.85%$0.58546
4.06%$0.00006566
1.30%$0.00423586
0.74%$21.70
0.15%$0.373637
3.29%$0.841273
1.86%$0.998588
0.26%$3.07
8.02%$0.170111
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3.81%$0.01733233
0.84%$1,844.57
1.72%$1.31
8.08%$0.717354
6.30%$0.99894
0.10%$0.713132
5.80%$0.999758
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3.23%$0.999342
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0.97%$0.0045523
0.67%$0.999807
0.06%$1.30
12.20%$27.81
-0.23%$94,685.00
1.21%$3.76
1.83%$0.00000146
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1.11%$0.697205
0.06%$94,728.00
1.56%$0.140036
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3.24%$1,788.06
1.68%$0.261355
18.69%$3,320.69
0.51%$0.999344
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1.05%$0.198839
2.83%$16.71
3.03%$0.00366778
19.78%$2.88
-0.38%$1.026
3.80%$0.00000069
14.52%$0.115877
-0.26%$0.03855381
1.28%$0.00299731
6.82%$1,913.27
1.76%$0.01339728
1.78%$1,806.36
1.85%$0.46814
4.00%$0.781404
1.12%$0.00264824
36.77%$0.525908
1.24%$0.03049533
2.90%$0.636479
12.42%$1.00
0.01%$0.00250204
3.29%$1,901.68
1.12%$22.59
1.40%$0.00545406
6.02%$0.00281732
4.22%$2.36
2.90%It’s been a bumpy bout of volatility for some of the industry’s largest altcoins.
The crypto market as a whole dropped 2.7%, shedding roughly $27 billion overnight, with Dogecoin (DOGE) and Cardano (ADA) leading the pack.
Dogecoin dropped 5.5% in the past 24 hours, plummeting from just over $0.88 to $0.82. The largest meme coin by market capitalization is now trading hands $0.84.
DOGE’s volatility also wiped out more than $5 million in leveraged traders, as more than 94% of the latest liquidations were all longs, per Coinglass.
Cardano has also been hit hard by the bears, dropping 5.5%. ADA is currently trading at roughly $0.35, per CoinGecko.
Despite the latest blood-red price action, both Dogecoin and Cardano have enjoyed a stellar start to the new year.
Traders who bought Dogecoin on January 1 would have enjoyed a meteoric rise of 20% had they held to today. Likewise for Cardano; ADA has soared a total of 44% over the same period.
Of the top ten largest cryptocurrencies by market capitalization, Ethereum was also badly bruised over the last day.
ETH has dropped 4.8% in the past 24 hours, from roughly $1,621 to $1,548. The cryptocurrency is also the only asset in the top ten to post negative returns over the last week.
The news comes as ETH remains set for a formal upgrade, dubbed Shanghai.
This update will allow users to withdraw their staked ETH for the first time, and is on track for a March delivery, as per the core developers.
At the start of this week, Ethereum’s core developers successfully deployed a “shadow fork” of the update, a test procedure comparable to a dress rehearsal, which would allow users to access their returns from the roughly $25 billion of staked ETH in circulation.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.