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Ethereum joins Dogecoin, Cardano
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The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$65,936.00
6.53%$3,017.76
3.85%$6.98
7.91%$584.40
2.66%$161.62
12.21%$1.00
0.05%$0.519036
3.87%$3,013.17
3.78%$6.79
-2.56%$0.156186
6.59%$0.460384
7.66%$0.00002528
8.90%$34.79
7.69%$0.12478
-0.42%$65,906.00
6.33%$458.09
6.68%$8.07
15.83%$14.02
8.18%$0.689819
6.15%$82.50
4.80%$2.29
13.10%$12.38
3.11%$7.40
7.89%$5.98
0.68%$0.00001068
-6.20%$10.64
4.21%$27.22
6.63%$0.110681
4.26%$8.55
8.55%$0.999357
-0.10%$3,128.43
3.76%$2.34
16.13%$0.126227
4.36%$8.47
3.95%$0.995988
3.82%$5.85
8.93%$2.17
14.45%$0.107371
4.52%$3.00
3.59%$49.78
2.12%$2,964.75
3.73%$0.312124
16.99%$0.122071
7.05%$43.51
5.52%$393.34
13.29%$0.989984
6.03%$2,806.98
3.98%$2.48
2.03%$0.0355514
5.57%$134.71
2.00%$1.007
10.48%$1.002
0.02%$0.802289
24.41%$23.75
10.10%$6.44
14.41%$2.14
10.22%$0.00021977
8.00%$3,329.54
3.54%$0.00002549
6.63%$9.01
9.37%$1.81
14.81%$0.546228
19.46%$0.044604
12.40%$1.16
11.59%$1.096
4.16%$0.180343
5.03%$1.63
1.96%$3,110.21
3.74%$9.89
0.29%$96.55
3.86%$5.88
17.59%$0.876969
7.38%$86.33
6.46%$63.58
7.45%$0.02528375
18.62%$0.853681
13.92%$0.949588
12.02%$0.0000012
4.14%$2.06
8.80%$0.02793905
4.83%$40.71
7.89%$15.45
6.82%$19.08
3.89%$0.729539
4.50%$5.04
3.86%$0.121388
7.74%$8.12
1.43%$7.29
9.03%$0.02068962
6.83%$0.571051
4.47%$0.44109
7.68%$192.31
12.44%$12.19
3.88%$0.02009908
12.73%$0.00004916
7.99%$9.78
2.50%$0.804151
7.08%$0.917558
4.46%$2.09
6.66%$0.803125
9.73%$0.01277705
23.42%$0.800559
5.49%$2.70
8.47%$0.212948
8.33%$2.61
8.73%$1.17
0.49%$0.85718
-14.70%$38.77
6.20%$4.89
6.90%$0.432535
7.59%$3,001.35
3.57%$3,037.85
3.79%$1.23
7.96%$13.21
9.37%$191.82
12.66%$0.996623
-0.12%$278.05
1.39%$0.659731
5.21%$1.27
4.35%$1.068
10.38%$0.215577
6.73%$0.106211
17.20%$0.01548157
3.80%$2.61
4.08%$4.35
6.15%$0.442887
8.40%$0.998744
0.02%$20.05
14.23%$0.00011088
6.83%$16.34
14.10%$0.174389
6.46%$0.952777
11.48%$1.97
0.73%$2,995.61
3.65%$34.84
8.41%$0.00000029
8.41%$0.089032
8.73%$0.372186
10.21%$0.727419
6.62%$2,388.55
1.26%$0.874208
11.49%$3,182.47
3.73%$4.66
17.72%$3,222.73
3.74%$2.06
8.79%$1.53
2.24%$85.08
6.52%$0.541438
4.77%$0.03611036
-0.36%$0.284266
9.00%$2.39
6.99%$0.423497
4.76%$1.001
0.15%$0.090216
6.99%$1.093
15.46%$0.508136
3.54%$0.02670275
10.03%$0.00000049
1.83%$0.050504
11.42%$3,259.05
3.73%$0.04508401
4.80%$4.78
-1.94%$1.77
17.83%$2.73
5.80%$0.276448
1.95%$3.93
12.70%$0.04541457
8.75%$14.49
8.04%$1.077
1.90%$0.997394
11.44%$0.220568
7.32%$0.38295
7.22%$0.301782
5.79%$2,372.90
1.16%$0.514327
15.71%$0.812024
10.70%$0.02349119
7.31%$0.315743
5.04%$20.80
7.15%$9.14
19.11%$0.392485
9.36%$3.55
5.74%$1.63
4.20%$0.02948585
8.20%$0.592513
5.55%$0.00118133
3.72%$0.00228705
6.47%$0.0070347
3.88%$4.76
13.98%$3.45
7.13%$1,322.75
6.30%$0.00701508
2.35%$1.72
12.47%$56.14
6.24%$0.827457
1.38%$3.63
4.91%$3,096.54
3.91%$0.52405
4.01%$0.073507
7.86%$0.999374
-0.00%$3.83
-0.55%$3.44
8.32%$0.469693
10.71%$23.65
5.65%$0.237805
6.39%$0.04193469
31.76%$0.872697
13.15%$0.0364304
6.13%$0.703127
3.15%$0.00686969
17.45%$29.24
5.92%$4.30
6.83%$0.02812689
4.12%$0.03758365
5.57%$58.64
7.17%$5.07
5.49%$60.64
3.59%$20.23
10.69%$0.256946
6.33%$31.07
2.07%$0.03224992
2.73%$3.31
6.09%$0.722257
5.71%$0.831049
13.76%$7.65
3.96%$0.880943
4.52%$0.003906
9.95%$115.84
0.10%$0.00093406
-13.40%$2.09
0.95%$3.70
2.13%$31.24
12.42%$0.332126
12.31%$0.00329169
0.83%$3.92
3.13%$0.371522
8.59%$0.316445
8.43%$0.436371
17.08%$1.93
5.16%$0.00003998
33.49%$2.40
10.50%$0.330622
14.32%$0.052209
40.42%$39.77
7.80%$29.26
7.09%$0.00000067
25.09%$0.831909
0.15%$3,152.66
3.77%It’s been a bumpy bout of volatility for some of the industry’s largest altcoins.
The crypto market as a whole dropped 2.7%, shedding roughly $27 billion overnight, with Dogecoin (DOGE) and Cardano (ADA) leading the pack.
Dogecoin dropped 5.5% in the past 24 hours, plummeting from just over $0.88 to $0.82. The largest meme coin by market capitalization is now trading hands $0.84.
DOGE’s volatility also wiped out more than $5 million in leveraged traders, as more than 94% of the latest liquidations were all longs, per Coinglass.
Cardano has also been hit hard by the bears, dropping 5.5%. ADA is currently trading at roughly $0.35, per CoinGecko.
Despite the latest blood-red price action, both Dogecoin and Cardano have enjoyed a stellar start to the new year.
Traders who bought Dogecoin on January 1 would have enjoyed a meteoric rise of 20% had they held to today. Likewise for Cardano; ADA has soared a total of 44% over the same period.
Of the top ten largest cryptocurrencies by market capitalization, Ethereum was also badly bruised over the last day.
ETH has dropped 4.8% in the past 24 hours, from roughly $1,621 to $1,548. The cryptocurrency is also the only asset in the top ten to post negative returns over the last week.
The news comes as ETH remains set for a formal upgrade, dubbed Shanghai.
This update will allow users to withdraw their staked ETH for the first time, and is on track for a March delivery, as per the core developers.
At the start of this week, Ethereum’s core developers successfully deployed a “shadow fork” of the update, a test procedure comparable to a dress rehearsal, which would allow users to access their returns from the roughly $25 billion of staked ETH in circulation.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.