Ethereum has gotten stronger:
— vitalik.eth (@VitalikButerin) August 22, 2024
* Under $0.01 txfees on L2
* Two EVM L2s (@Optimism @arbitrum) now at stage 1
* Cross-L2 wallet UX has improved a lot (eg. no more manually switching networks), though still a long way to go
* Much more powerful and mature ZK tooling making life… pic.twitter.com/4jQGeZ3qEA
THETA/USDT daily chart
Theta Token (THETA) trades at $1,304 at the time of writing. The token extended gains by over 5% on Thursday. THETA could rally another 11.30% and hit the $1,452 level, a key support for the asset between March and August 2024.
The Moving Average Convergence Divergence (MACD), a momentum indicator, supports THETA’s bullish thesis. The green histogram bars above the neutral line imply an underlying bullish sentiment in THETA price trend.
THETA could find support in the Fair Value Gap (FVG) between $1,205 and $1,229 as seen in the THETA/USDT daily chart.
Daily active addresses
Bitcoin vs NASDAQ YTD returns
Crazy buying of $AAVE!
— Lookonchain (@lookonchain) August 22, 2024
This whale spent 4,000 $stETH($10.4M) to buy 77,270 $AAVE at $135 in just 1 day!
Address:
0xa923b13270f8622b5d5960634200dc4302b7611e pic.twitter.com/jSMKOiTT0Z
Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.
Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an “improved” version of it.
Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.
Bitcoin dominance is the ratio of Bitcoin's market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoin’s interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.