Whats trending today

Answered at Sep 22, 2024

What's Trending Today in Crypto

Bitcoin Nears $30K as Global Yields Decline

Bitcoin's price has seen a significant uptick, climbing close to the $30,000 mark. This surge comes in response to a drop in global long-dated government bond yields, triggered by weaker-than-expected Chinese trade data for July. The U.S. 10-year Treasury yield has fallen below 4%, contributing to the bullish sentiment in the crypto market. Other major cryptocurrencies like Solana (SOL), Toncoin (TON), and Chainlink (LINK) have also registered gains of over 4%.

PayPal's Stablecoin Launch and Fake Token Warnings

PayPal's recent announcement of its stablecoin has created buzz in the crypto community. However, this has also led to scammers attempting to capitalize on the hype by releasing counterfeit PYUSD tokens on various blockchains. Investors are urged to exercise caution and verify the authenticity of tokens before making any transactions.

Spot Bitcoin ETF Optimism

Prominent figures in the crypto space, including Ark Invest CEO Cathie Wood and Galaxy Digital CEO Mike Novogratz, have expressed optimism regarding the potential approval of a spot Bitcoin ETF by the SEC. With several applications pending, the crypto community eagerly awaits a positive decision, which could further legitimize and boost cryptocurrency adoption.

Major Blockchain Upgrades and Launches

Several significant blockchain upgrades and launches are taking place this month:

  1. Polygon (MATIC) upgraded its mainnet on September 4, transitioning from the MATIC token to the new POL token, enhancing scalability and security.

  2. Thorchain (RUNE) implemented a hard fork on September 4, improving the performance and security of its decentralized liquidity network.

  3. Flow (FLOW) completed the Crescendo Network upgrade on September 4, increasing transaction speed and efficiency while reducing costs.

  4. Polkastarter (POLS) launched its V4 version on September 5, introducing refined platform features and an improved user experience.

  5. Dusk Network (DUSK) is set to launch its mainnet on September 20, marking a significant milestone in its journey toward decentralization and scalability.

  6. EOS (EOS) will undergo a hard fork on September 25, expected to bring important changes to its network functionality and governance.

Trending Cryptocurrencies

According to CoinMarketCap's trending list, the top cryptocurrencies gaining attention include:

  1. Catizen (CATI)
  2. SwissCheese (SWCH)
  3. Bitcoin (BTC)
  4. Sui (SUI)
  5. LayerZero (ZRO)

Other notable mentions in the top 20 include Solana (SOL), Ethereum (ETH), Bittensor (TAO), Injective (INJ), and Toncoin (TON).

Upcoming Events and Releases

  1. Yield Guild Games (YGG) launched its beta version on September 7, expanding access to its play-to-earn ecosystem.

  2. Numerai (NMR) is set to launch V5 "Atlas" on September 25, refining its data science-driven investment strategies.

  3. MakerDAO (MKR) plans to release a new USDS stablecoin and the Sky governance token on September 18.

  4. Hamster Kombat (HMSTR) will conduct its Token Generation Event (TGE) and airdrop on September 26.

  5. The release of the US Consumer Price Index (CPI) data later this month will provide crucial insights into inflation, potentially impacting crypto markets.

Market Sentiment

The crypto market is showing signs of renewed optimism, with Bitcoin's price movement and the anticipation of regulatory developments driving positive sentiment. However, investors should remain cautious of potential scams and market volatility. The ongoing blockchain upgrades and new token launches indicate continued innovation and development in the crypto space, potentially setting the stage for further growth and adoption in the coming months.