BTC, ETH, BONE, and DYDX Prices Surge Ahead of Key Fed Talk

As the crypto industry awaits Federal Reserve Chair Jerome Powell’s imminent talk on the economic landscape at the Jackson Hole meeting, we witness significant movements in cryptocurrency prices. Notably, Bitcoin (BTC), Ethereum (ETH), Bone ShibaSwap (BONE), and dYdX (DYDX) are on an upward trajectory. As investors and enthusiasts keep a keen eye on Powell’s message, these currencies are making waves, giving investors reasons to be optimistic.

BTC and ETH Regain Momentum

With a trading volume of over $16 billion in just 24 hours, Bitcoin price has grown 1.62%, positioning itself at $26,475. The BTC/USD cryptocurrency pair`s market capitalization is around $508 billion, reinforcing its top rank on CoinMarketCap. 

Ethereum, often considered the silver to Bitcoin’s gold, is not far behind its peers. Ethereum price surged nearly 2%, returning to the $1,650 mark. With decentralized finance (DeFi) and smart contracts’ ever-increasing relevance, Ethereum’s potential seems boundless.

BTC vs ETH 1-day price chart, Source: CoinMarketCap

Underdogs Making Noise: Shiba Inu’s BONE and DYDX

The crypto realm was abuzz with the recent news of Shiba Inu’s developer, Shytoshi Kusama, reigniting the Shibarium mainnet. This meticulously reviewed and tested resurgence of the Layer-2 blockchain has invigorated the value of Shibarium’s gas token. Consequently, Bone ShibaSwap (BONE) price has skyrocketed by 17.21% in the past 24 hours, hitting $1.39.

Emerging as the top gainer in the last 24 hours among the top 100 cryptocurrencies by market cap, dYdX’s governance token exhibited a rise of 9%. DYDX is currently trading at $2.18, the decentralized derivatives exchange boasts a 24-hour volume exceeding $589 million, a testament to its burgeoning popularity.

Today’s market paints a hopeful picture for crypto veterans like BTC and ETH and relative newcomers like BONE and DYDX. As the world watches the impending discourse at Jackson Hole, one can’t help but marvel at the potential and dynamism the crypto world showcases. With adaptability and resilience at its core, the market promises an exciting future for investors and enthusiasts alike.

Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO’s in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.