Crypto traders appear to have stuffed themselves silly this Thanksgiving—with digital asset markets largely sitting still.
Bitcoin on Thursday had barely moved at the time of writing: the largest virtual coin by market cap was priced at $37,353, a 24-hour move of nearly zero, according to CoinGecko.
Over the past seven days, the asset has gone up in value by a modest 4%.
Ethereum also experienced a lull. The asset also dropped by half a percentage point and was priced at $2,067 at time of writing.
The second-largest digital asset had experienced a boom in price after both BlackRock and Fidelity applied to the U.S. Securities and Exchange Commission for a spot Ethereum exchange-traded fund this month.
Elsewhere, all other major coins and tokens have experienced little to no gains. Meme coin king Dogecoin was also up less than 1%, priced at $0.07, while Shiba Inu, the 20th biggest digital asset and DOGE rival, didn’t move at all.
Most notably was XRP, the fifth biggest digital asset, which rose in price—but only by 1.6% over 24 hours. At the time of writing, the cryptocurrency was priced at $0.62.
In fact, the global cryptocurrency market cap today barely changed at $1.48 trillion over the past day.
This is nothing new, though: Unlike the stock market, which tends to do well on Thanksgiving week, the crypto world is usually untouched.
But last November just a fortnight before Thanksgiving, mega crypto exchange and brand FTX collapsed—leading Bitcoin and the rest of the market to plunge.
Fidelity Joins BlackRock in Race for Ethereum ETF
Financial services giant Fidelity Investments is seeking regulatory approval to launch an exchange-traded fund (ETF) that would hold the Ethereum cryptocurrency, according to a Thursday filing with the Securities and Exchange Commission. The filing comes a day after BlackRock submitted its own Ethereum ETF application. The proposed Fidelity Ethereum Fund would track the price of Ethereum, the native token of the Ethereum blockchain network. The ETF's shares would trade on the Cboe BZX Exchange u...
This time last year, Bitcoin was trading for $16,608. It’s up over 124% year-to-date.
