The cryptocurrency market is continuing to push higher as its market cap crossed the $4 trillion 0 (BTC) shed recent sluggishness to break the $115,000 barrier and move to its current 1 is up over 1% in the past 24 hours, trading around $115,661 after briefly crossing the $116,000 mark and reaching an intraday high of $116,287. Meanwhile, Ethereum (ETH) rallied to cross the $4,500 level, with the price up almost 3% in the past 24 2 altcoin traded around $4,400 on Wednesday, crossing $4,500 and moving to $4,545. Ripple (XRP) is up over 2%, trading around $3.07, while Solana (SOL) has surged over the past 24 hours, up nearly 8%, trading around $239.
Dogecoin (DOGE) is up almost 4%, while Cardano (ADA) is up 2.10%, trading around $0.904. Chainlink (LINK) , Stellar (XLM) , Hedera (HBAR) , Litecoin (LTC) , Toncoin (TON) , and Polkadot (DOT) also registered notable 3 Raises $425 Million In Oversubscribed IPO Gemini’s initial public offering raised $425 million on Thursday, making it one of the strongest debuts for a digital asset 4 priced 15.2 million shares at $28 each, above its earlier guidance of $24 and $26. The final pricing indicates robust investor demand even after the exchange lifted its proposed range from $17 to $19 last 5 orders were halted ahead of pricing after the book filled at speed.
“Gemini raised $425 million in an initial public offering, pricing its stock above a marketed range and shrinking the number of shares, according to a person familiar with the matter.” Gemini and its underwriters capped proceeds at $425 million, even though it could have raised $433 6 also committed to purchasing $50 million worth of stock in a private placement at the IPO 7 deal also sets aside 10% of shares for long-standing users, employees, and close 8 also sets aside up to 30% for retail investors on platforms like Robinhood, SoFi, and 9 Jones Rises After Latest Data US stocks continued pushing higher on September 11 as Wall Street digested the consumer price index (CPI) numbers for 10 showed that consumer prices rose 0.4%.
However, despite the outlook, the Dow Jones Industrial Average jumped 170 11 rise is significant after trading was subdued all 12 also pumped capital into the S&P 500 and the Nasdaq 13 benchmark index, which jumped to record highs, continued going higher, rising beyond 6,500. The Nasdaq Composite also rose 0.3%. Latest inflation data from the US Bureau of Labor Statistics shows that the consumer price index (CPI) for August rose 0.4% against an expected 0.3%. However, the data aligns with the forecasted annual inflation rate of 0.29%.
Core CPI, which excludes food and energy, rose 0.3% in August and 3.1% 14 numbers were in line with forecasts, boosting investor 15 Considering ETF Tokenization BlackRock, the world’s largest asset manager, is exploring avenues to tokenize exchange-traded funds (ETFs) on the blockchain after the strong performances of its spot Bitcoin 16 to sources, Bloomberg is considering tokenizing funds with exposure to real-world assets (RWAs). However, the asset manager will need to navigate several regulatory hurdles for any such move to 17 have become a popular investment vehicle, and now outnumber publicly-listed 18 tokenization could allow them to be traded beyond standard market hours and be used as collateral in DeFi 19 already manages the world’s largest tokenized money market fund, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), which holds $2.2 billion in assets across Ethereum, Avalanche, Aptos, Polygon, and 20 (BTC) Price Analysis Bitcoin (BTC) is marginally down during the ongoing session after breaching $115,000 on 21 flagship cryptocurrency rallied on Wednesday following the release of key data, rising over 2% to cross $113,000 and settle at $113,983.
Buyers retained control on Thursday as the price rose 1.37%, crossing $115,000 and settling at $115,540. The current session sees the price marginally down, trading around $115,252. Consumer price index (CPI) is at its highest level since January. However, jobless claims also registered a sharp jump, rising to 263,000 against the expected 235,000.
“Weekly jobless claims just hit 263,000. That's the highest weekly number since October 2021.” Ongoing concerns about labor market weakness have strengthened the chances of a rate cut by the Federal 22 believe there is an 11% chance the rate cut will be more than the expected 0.25%. The Koebeissi letter noted in a post on X that markets are pricing in a larger rate cut, “Markets are now pricing in 75 basis points of rate cuts by 23 CPI inflation continues to rise, the labor market is simply too weak to 24 week will be a big week.” Prominent crypto market commentators believe a rate cut is all but imminent, with one popular trader stating, “PPI much lower than expected, CPI as expected.
Conclusion: Inflation is not as bad as expected - bring on the rate cut later this 25 now behind us, time to resume the scheduled programme: higher.” Bitcoin trader BitBull stated that BTC had flipped the $113,500 resistance into support, adding that this could open the door to new all-time highs. “BTC has reclaimed a very crucial 26 $113,500 level, which acted as resistance, has now been flipped into 27 the next key level for Bitcoin is to reclaim $117,000 level, and a new ATH will be confirmed.” BTC registered a sharp drop on Friday (August 29), dropping nearly 4% to $108,378. The price recovered on Saturday, rising 0.41%, but was back in the red on Sunday, falling 0.53% to settle at 108,247.
Price action was positive on Monday as BTC rose almost 1% to cross $109,000 and settle at $109,240. Bullish sentiment intensified on Tuesday as the price rallied, increasing 1.84% to cross $111,000 and settling at $111,247. BTC posted a marginal increase on Wednesday, rising 0.46% to $111,756. Despite the positive sentiment, the price lost momentum on Thursday, dropping to an intraday low of $109,321 before settling at $110,720.) Price Analysis Ethereum (ETH) has reclaimed the $4,500 level as its steady climb 28 altcoin rose 2.57% on Thursday and settled at $4,460.
Buyers retained control during the ongoing session, helping ETH cross $4,500 and move to its current level of $4,522. ETH has traded in a narrow range for the past two weeks, entering a consolidation period after setting a new all-time high of $4,956 on August 29 holders are assessing the possibility of further bullish momentum as the S&P 500 reached a new all-time high on 30 futures are currently trading at a 5% premium compared to standard spot 31 indicates low demand from leverage 32 premiums typically range between 5% and 10% in neutral market 33 the August rally past $4,800 failed to ignite sustained bullish sentiment among 34 bearish trend also coincides with 10 consecutive days of net outflows from Ethereum 35 trend reversed on Monday, followed by $216 million in inflows on Tuesday and Wednesday.
However, it failed to generate market momentum, casting doubt on the altcoin’s ability to reach $5,000 this 36 ETH’s sluggish momentum and low on-chain activity, investors continue to scoop up the asset and shore up their 37 Immersion Tech purchased 202,500 ETH over the past week, according to Strategic ETH Reserve 38 investment vehicle holds over $9.1 billion in 39 registered a notable drop on Friday (August 29), falling over 3% to $4,362. The price recovered over the weekend, registering marginal increases on Saturday and Sunday to settle at $4,394. However, it returned to bearish territory on Monday, dropping 1.79% to $4,315. ETH registered a marginal recovery on Tuesday before rising almost 3% on Wednesday to cross $4,400 and settle at $4,453.
Despite the positive sentiment, ETH registered a sharp fall on Thursday, dropping 3.47% to $4,299. The price faced volatility on Friday as buyers and sellers struggled to establish 40 ultimately gained the upper hand as the price registered a marginal increase.) Price Analysis There is significant bullish sentiment around Solana (SOL) as it continues its 41 altcoin has traded in positive territory all week and breached $230 during the ongoing 42 is up over 4% during the ongoing session, trading around $238. Solana’s performance has pushed its market capitalization to $129 billion, helping it surpass Binance Coin (BNB) to become the fifth-largest 43 trading volumes have also spiked, indicating heightened investor 44 and market watchers believe crucial technological upgrades and upcoming ETFs could push SOL even 45 ETF approvals could lead to capital inflows, while improvements in transaction speed could enhance network 46 commentator Lark Davis highlighted the bullish momentum around SOL, stating that ETF approvals, treasury purchases, and technological upgrades were major catalysts.
“SOL feels like it's lining up for the trade of the cycle. Bitwise's CEO Matt Hougan thinks SOL could be in a position similar to when BTC was at $40,000 and ETH was at $1,600. Meaning, Solana’s bullish tailwinds could ignite a 3X in price within a short matter of time.” SOL price action was bearish last weekend as it fell over 4% on Friday (August 29) and settled at $205. Selling pressure persisted on Saturday as the price fell 1.17% to $202.
SOL continued falling on Sunday, dropping 0.99% and settling at $200. Sellers retained control on Monday as the price fell almost 2%, slipping below $200 and settling at $197. Despite the overwhelming selling pressure, SOL recovered on Tuesday, rising over 6% to reclaim $200 and settle at $209. The price continued pushing higher on Wednesday, rising 0.60% to $210.
Selling pressure returned on Thursday as SOL fell over 4% to $202. The price rallied to an intraday high of $210 on Friday. However, it lost momentum after reaching this level and settled at $203, ultimately registering a marginal increase.) Price Analysis Celestia (TIA) reached an intraday high of $1.65 on Monday (September 1), as it started the previous week facing volatility. However, it could not stay at this level and fell by over 3% to $1.55.
The price recovered on Tuesday, rising nearly 3% and settling at $1.59. Buyers retained control on Wednesday as TIA rose 2.46% and settled at $1.64. However, it lost momentum on Thursday, dropping over 4% and settling at $1.56. Despite the selling pressure, TIA returned to bullish territory on Friday, rising over 4% to $1.62.) Price Analysis Near Protocol (NEAR) started the previous week in the red, dropping 1.35% and settling at $2.33.
The price recovered on Tuesday, rising over 4% to $2.43. Buyers retained control on Wednesday as NEAR rose 1.26% to $2.47. However, it lost momentum on Thursday, dropping nearly 4% and settling at $2.37. Despite the selling pressure, NEAR recovered on Friday, rising 0.87% to an intraday high of $2.47 before settling at $2.39.
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