The crypto industry underwent another mid-week wave of fluctuation. The development saw Bitcoin and Ethereum gaining back some value on Wednesday.
At the same time, names like Solana, Toncoin, and TRON lost some value. On the meme coin front, NEIRO Ethereum has also lost speed and is striving to keep up. However, the market is showing signs of stability ahead of the weekend.
Let’s take a look at the daily crypto updates and latest developments to see what this entails.
Bitcoin
Bitcoin’s midweek performance has been remarkable for the past few weeks. The largest cryptocurrency in the world proved it once again on Wednesday with 2.54% growth.
The surge saw BTC cross the 60k dollar mark and once again test the 61k dollar mark. It is currently trading at 60,767 dollars, with a weekly surge of 3.75%. The recent 62 million dollar ETF inflows played a big role in Bitcoin’s swift comeback.
Ethereum
On Wednesday, Ethereum’s struggle came to a halt when the cryptocurrency gained 1.06% in value. The crypto has lost 1.09% value in the past 7 days alone, putting it at 2,623 dollars.
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A month ago, Ethereum was testing the 3,500-dollar mark, and it is now struggling to cross the 3k-dollar mark. Unlike Bitcoin ETFs, Ethereum ETFs are continuing their outflow streak, reducing Ether’s growth.
Cardano
After a long time, Cardano has managed to outperform most of the top coins. While the majority of the coins barely ended the day on even ground, ADA registered a 3.49% growth on Wednesday.
The crypto is currently trading at 0.36 dollars, with a weekly surge of 8.37%. ADA will likely face resistance at 0.37 dollars, and if it manages to break through, there is a consolidation area waiting at 0.43 dollars.
Neiro Ethereum
NEIRO, the overnight sensation, has once again made news, but for the wrong reasons. The meme coin lost more than 40% of its value in the past 24 hours alone.
Despite the meme token’s monthly performance demonstrating a growth of 901%, traders are currently experiencing significant fluctuations in its value. NEIRO is currently trading at 0.13 dollars, with major fluctuations following the token. Traders are advised to exercise caution when it comes to NEIRO and related projects.
SUNDOG
Justin Sun has reignited the craze for meme coins with a new token, SUNDOG. The coin has entered the market with a valuation of 200 million dollars.
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Within its first few days of inception, SUNDOG has gained 194% in market value. It is currently trading at 0.19 dollars, with a daily performance showing a 17% dip. Despite the new entry, Justin Sun’s support makes SUNDOG a viable investment option for short-term traders.
Even though the crypto market has fluctuated, Bitcoin and other coins have proven their resilience to outdo the shift. Alongside BTC, new meme tokens are also taking the market by storm, providing traders an opportunity to make quick bucks.
