- Ethereum gains nearly 1% on the day, hovers around $2,700 on Wednesday.
- Bitcoin and XRP erase nearly 1% of their value, amidst anticipation of a fresh all-time high in BTC.
- The Crypto Fear & Greed Index turns to extreme greed on Wednesday.
Bitcoin, Ethereum and XRP updates
- Bitcoin trades at $71,886 at the time of writing, down 1% on the day. The largest cryptocurrency flirted with the previous all-time high of $73,777, and climbed to a peak of $73,620 on Tuesday.
- Ethereum is trading at $2,660, the altcoin gained nearly 1% on the day. The altcoin is rallying ahead of a key market moving event, the US Presidential election.
- XRP slips lower, to $0.5230, erasing nearly 1% of its value, while traders keep eyes peeled for a rally in Bitcoin.
Chart of the day: EigenLayer (EIGEN)
EigenLayer ranks among the top cryptocurrencies on Binance that yielded high gains for traders in the last 24 hours, on the exchange’s spot markets. EIGEN trades at $3.117 at the time of writing, the token could extend its gains by 9.60% and climb to the upper boundary of the Fair Value Gap (FVG) at $3.411.
The Moving Average Convergence Divergence (MACD) indicator shows green histogram bars, above the neutral line. EIGEN likely has positive underlying momentum in its price trend.
EIGEN/USDT 8-hour chart
If there is a correction in EIGEN, the token could sweep liquidity at the October 29 low of $2.826.
Market updates
- The Crypto Fear & Greed Index reads 77 on Wednesday, traders turn “extremely greedy” after over a month of “greed.” Typically, this is considered a sell signal.
Crypto Fear & Greed Index
- A Coindesk report notes there is a huge uptick in Btcoin call option buying on CME and demand for short-term lending has increased. Institutional investors are likely preparing for rising crypto prices as the US Presidential elections approach.
- Bitcoin spot ETFs recorded a net inflow of $870 million on October 29, the highest level since June 5.
Industry updates
- Chainlink introduced a key upgrade, CCIP v1.5 upgrade with security and privacy enhancements for users, per an official tweet on X.
- According to Visa and Coinbase’s partnership announcement, customers of Visa can integrate their eligible debit card into their exchange account and deposit funds instantly.
- PEPE becomes first meme coin to be listed on a crypto exchange in Japan. BitPoint Japan announces the start of PEPE’s trading, lending and fixed investment on its platform.
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