What Happened to Crypto Today: Why Crypto Market is Going Up

What Happened to Crypto Today: Check Bitcoin, Ethereum, PEPE News

Bitcoin Hit New All-Time High of $93,400

The cryptocurrency market experienced significant movement today, as Bitcoin breached the $93,000 mark for the first time, touching $93,400 before stabilizing around $90,000. This surge comes amid growing optimism surrounding potential crypto-friendly regulations under President-elect Donald Trump. 

Traders are closely monitoring Bitcoin’s movement toward the critical $100,000 level, reflecting renewed confidence in the market. As of the latest update, Bitcoin is trading at $91,321.39 with a market cap of $1.81 trillion and a 24-hour trading volume of $119.83 billion.

Ethereum’s Beam Chain Proposal Raises Concerns

Ethereum is facing a wave of debate over its latest proposal, the Beam Chain, which aims to overhaul the network’s consensus layer. Ethereum researcher Justin Drake introduced the proposal, which promises significant upgrades in scalability and security. 

However, its five-year implementation timeline has raised concerns among critics, with some fearing that it could allow competitors to advance while Ethereum lags. Despite the criticism, supporters argue that such an extensive overhaul requires careful planning and testing. Ethereum is currently trading at $3,187.93, reflecting a modest increase of 0.58% in the last 24 hours.

Why Pepe Coin Is Going Up?

In meme coin news, Pepe Coin has experienced a remarkable surge following a surprise listing announcement from Coinbase. The exchange revealed plans to add Pepe to its listing roadmap, triggering a 69% rally in the token’s price. 

As of the latest data, Pepe is trading at $0.00002133, with a market cap of $8.96 billion and $22.19 billion in 24-hour trading volume. This listing, combined with a growing interest in meme coins, has contributed to a broader market rally for such tokens, signaling a resurgence in speculative trading.

Cardano's Rally Slows Despite Weekly Gains

Cardano (ADA) saw a substantial 52% gain over the past week, but its growth has shown signs of cooling off. The token recently suffered a 5% drop in a single day, raising concerns about a potential correction. 

Analysts have noted a decrease in the Average Directional Index (ADX), suggesting weakening momentum. Despite this, Cardano still boasts a strong market cap of $19.81 billion. ADA’s price is currently at $0.5658, reflecting a slight dip after its impressive weekly gains.

Phantom Wallet iOS Update Causes Concern Among Users

Phantom, a popular Solana-based crypto wallet, has been in the spotlight due to an issue affecting iOS users. A recent update caused some wallets to reset, locking users out unless they had their recovery phrases. Phantom has issued a new update to address the problem, but many users have reported losses of funds. 

This incident has raised awareness about the importance of securely storing recovery phrases and highlighted the vulnerabilities that can arise with wallet updates. Crypto users are urged to back up their wallets to avoid potential losses in the future.

Conclusion

The cryptocurrency market has seen significant activity today, with Bitcoin hitting new highs, Ethereum facing critical debates, and meme tokens like Pepe surging. Cardano’s rally is slowing, and Phantom’s iOS update has raised concerns among users. With market developments and regulatory expectations shaping the future of the space, it’s clear that the crypto market remains as volatile and dynamic as ever. Keep an eye on these developments to understand what happened in crypto today and why crypto market is going up today.