Bitcoin, Ethereum, Dogecoin Recover From Mid-Day Slump, Close Day Strong On Powell’s ‘Digital Gold’ Remarks
Posted On December 4, 2024
Cryptocurrency markets are trading higher on Wednesday, bolstered by Federal Reserve Chair Jerome Powell calling it “digital gold.”
| Cryptocurrency | Price | Gains +/- |
| Bitcoin (CRYPTO: BTC) | $97,718 | +1.6% |
| Ethereum (CRYPTO: ETH) | $3,838 | +6.0% |
| Solana (CRYPTO: SOL) | $230.86 | -3.2% |
| Dogecoin (CRYPTO: DOGE) | $0.4222 | +2.2% |
| Shiba Inu (CRYPTO: SHIB) | $0.00003057 | +6.2% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume decreasing by 10% and daily active addresses down by 0.3%. Transactions greater than $100,000 are up from 12,355 to 13,081 in a single day. Exchanges netflows are up by 89.6%.
- Coinglass data reports 164,631 traders were liquidated in the past 24 hours for $419.58 million.
- Crypto chart analyst Ali Martinez noted that around 400 new Bitcoin whales have joined the network in the last two weeks.
Notable Developments:
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