- Bitcoin lost recent gains and was trading at $63,823 on Monday.
- Ethereum lost 1%, falling to $2,631.
- XRP fell more than 2% on the day, falling below the psychologically important $0.65 level.
Bitcoin, Ethereum, XRP updates
- At the time of writing, Bitcoin is trading at $63,823. The Bitcoin Spot ETF posted consistent inflows for seven days, according to data from Farside Investors. Inflows into spot ETFs typically represent institutional demand. Bitcoin's value fell more than 3% on the day, and has corrected more than 4% from September's monthly high of $66,498.
- Ethereum fell 2% on the day to trade at $2,601. The Ethereum Spot ETF recorded net positive flows of $58.7 million on Friday. The altcoin has lost 4.5% of its value compared to its monthly high of $2,728.60.
- XRP fell below $0.6500, an important psychological support level for holders. Altcoins fell on Monday as XRP holders speculated on a possible Securities and Exchange Commission (SEC) appeal in the Ripple lawsuit.
Today's chart: Etena (ENA)
Ethena (ENA), the utility token of the Ethena protocol, is one of the most popular tokens on the spot market Binance. The token ranks among the top 10 cryptocurrencies with the highest profits in the past 24 hours. ENA ended its months-long downward trend on September 14th, rising 2.63% on that day.
ENA is up 9.65% and could move towards the upper end of the fair value gap (FVG) between $0.3920 and $0.4180.
The green histogram bar above the neutral line of the Moving Average Convergence Divergence (MACD) indicator indicates that there is underlying positive momentum in the ENA price trend.
ENA/USDT daily chart
In case of a correction, ENA may find support in the imbalance zone between $0.3792 and $0.3064.
Market updates
- In a recent blog post, Vitalik Buterin shared his vision of aligning layer 2 and layer 3 chains with the Ethereum blockchain. This is an important development for ETH holders and users who hold tokens in layer 2 projects that are currently taking steps to align their projects and chain utilities with the Ethereum blockchain.
- According to X's official announcement, PEPE, a major meme coin, is listed on Noones Spot Exchange.
- Tron (TRX) has successfully completed a security assessment of its Java-Tron client by blockchain security firm ChainSecurity. This assessment focused on key components of the blockchain, identifying and resolving vulnerabilities that could impact blockchain performance, including transaction execution, block generation, and consensus operations.
Industry updates
- Chainlink (LINK) is further working on Real World Asset tokenization (RWA) through an official partnership with Australian bank ANZ. DeFi projects secure cross-chain exchanges of banks’ tokenized assets.
- World Liberty Financial, a project backed by former President Donald Trump's family office, will begin Know Your Customer (KYC) certification, according to an announcement on its official website. At the time of writing, the website is under maintenance.
- On-chain data from Spot On Chain shows that an Ethereum Foundation wallet address sold 100 Ether through the CoWSwap exchange on Monday. Previous ETH sales by the organization have been criticized as they are likely to contribute to increased selling pressure on the token and negatively impact the price.
