What do you believe is the single most important factor driving up the cost of living in Nigeria?

Cryptocurrency markets are finishing the week on a high, with Bitcoin peaking past $66,000 in midday trading.

Cryptocurrency Price Gains +/- Bitcoin BTC/USD $65,934 +1.1% Ethereum ETH/USD $2,705 +1.9% Solana SOL/USD $158.59 +1.3% Dogecoin DOGE/USD $0.1246 +5.3% Shiba Inu SHIB/USD $0.00002052 +10.9%

Notable Statistics:

IntoTheBlock data shows large transaction volume increasing by 3.7% and daily active addresses rising by 1.3% for Bitcoin.

According to Coinglass data, 63,487 traders liquidated in the past 24 hours for $139.18 million, with $85 million being short liquidations.

Notable Developments:

Top Gainers:

Cryptocurrency Price Gains +/- Notcoin NOT/USD $0.01048 +21.9% Bonk BONK/USD $0.00002302 +12.2% Pepe PEPE/USD $0.00001062 +12.1%

Trader Notes: Analyst Benjamin Cowen sees ETH moving up to its bull market support band, which would constitute a move to the $2,900s.

Altcoin Psycho feels emboldened by the recent uptrend, saying it is time to “play offense.” he has bought several undisclosed altcoins and will “check back” in 4 to 8 weeks.

Trader Tyrogue implies that retail investors will soon get interested in meme coins again due to the unit bias. He thinks they will wonder “what if this coin went to $1?” and buy accordingly.

Smileycapital thinks several fundamental factors are aligning for crypto to go higher:

– Seasonally & cyclically most bullish quarters + year ahead

– Risk beta has significant catch up room to major stocks

– USA entered easing cycle

– USA elections

– China stimulating economy

– Japan plans on doing the same^

– Gen Y & Gen-Z desperate to hypergamble their way out pic.twitter.com/2w089oRAAJ — 🙂 (@smileycapital) September 27, 2024

• Read More