Over 100,000 onchain traders piled into BNB memecoins during the peak, with some wallets pocketing multi-million-dollar gains.
Profit-taking in bitcoin remains low even as the cryptocurrency reached a new all-time high above $126,000 this week, CryptoQuant said.
BNB Chain activity has surged since mid-year, with transaction counts quadrupling and new token launches climbing.
Tokenized gold trading volumes jumped to $640 million in the past 24 hours, led by PAX Gold and Tether Gold.
Shares of bitcoin mining stocks like Hive, Bitfarms, and Riot Platforms closed the day with gains in the double-digits.
The leading cryptocurrency's previous all-time high was set on Aug. 14 around $124,533, according to Coinbase.
The price of bitcoin and ethereum are rising alongside stocks, which have historically gained during similar shutdowns.
Bitcoin is significantly undervalued relative to gold, according to JPMorgan analysts, implying upside toward $165,000.
Memecoins are being overlooked during recent altcoin positioning, as traders gravitate toward projects with perceived fundamental value.
CryptoQuant says bitcoin has started Q4 under conditions that appear favorable for a price rally to $160,000–$200,000.
'Good sign for the onslaught of 33 Act ETFs coming soon,' Bloomberg Senior ETF Analyst Eric Balchunas said.
Cryptos steadied after the Fed’s latest cut, but analysts await clearer guidance on future cuts for a sustained rally.
"XXXXXXXXX," the U.S. Federal Reserve said Wednesday.
Standard Chartered said digital asset treasury (DAT) flows will be a stronger price driver for Ethereum than for Bitcoin or Solana.
Galaxy CEO Mike Novogratz called this the “season of SOL,” saying Solana is fast and tailor-made to be the blockchain for financial markets.
Bitcoin nudged toward $114,000 after August CPI matched forecasts, pushing markets to price a 25 bps Fed cut in September.
The JPMorgan analysts warned that other index providers may also reconsider their inclusion of Strategy and similar crypto treasury firms.
Ether’s monthly spot volume on CEXs overtook bitcoin’s for the first time in years amid institutional demand, The Block’s data shows.
The 'OG' whale wallet, which initially held over $5 billion in bitcoin, now holds nearly $4 billion in Ethereum.
One analyst said bitcoin's key support level sits at $100,000 and a breach would trigger a broader liquidity crunch.
The market appears influenced by billions of dollars rotating from BTC to ETH with Bitcoin down 8% and Ethereum up 14% in the past month.
The price of ETH, Ethereum's native token, set its previous all-time high of around $4,878 in November 2021.
Markets across the board traded sharply higher on Friday following Jerome Powell's dovish speech at Jackson Hole.
ETH has outpaced BTC, with JPMorgan pointing to a combination of ETF inflows, corporate adoption, and regulatory clarity among key factors.
Analysts and industry leaders see further upside, with Standard Chartered raising its year-end target to $7,500.
The second-largest cryptocurrency is up approximately 40% since the start of the year, trading hands above $4,500.
Open interest in CME ETH futures also experienced a 75% increase, from $2.97 billion in June to a record $5.21 billion in July.
The price of Ethereum's native asset ether recently eclipsed $4,000 level for the first time in eight months.
Digital asset treasury or DAT deals are booming — but where does that leave general crypto startup funding?
The move comes amid rapid accumulation by Ethereum treasury companies and increasing ETF inflows in recent weeks.