- An ETH whale turned active after 6 years on Tuesday sending more than 15,000 ETH worth $22 million to an empty address.
- The Dogecoin trading volumes shot 178 percent in the last 24 hours as the DOGE prices surged by 14 percent.
On Tuesday, October 24, the broader cryptocurrency market registered a solid relief rally adding more than $80 billion in 24 hours. With this, the collective market cap of the entire crypto sector has once again surged past $1 trillion.
In tune with the broader crypto space, the Bitcoin (BTC) price is also up 7.25 percent and is currently trading above $20,700 levels. However, the star performers of the recent market have been two altcoins – Ethereum and Dogecoin. Both ETH and DOGE have rallied more than 14 percent in the last 24 hours being among the biggest gainers in the list of top ten digital assets.
As of press time, ETH is trading up 14.29 percent at a price of $1,536 and a market cap of $188 billion. This is for the first time after the Merge event that the ETH price has shot past $1,500. Over the last few weeks, ETH was under selling pressure and trading close to $1,300.
The sudden ETH price rally also comes as an ETH whale has turned active after 6 years. As per reports, the ETH whale moved more than 15,000 ETH worth more than $20 million. On-chain data provider Santiment reports:
An #Ethereum whale wallet that had not been active for 6+ years woke up today & moved $22.2M worth of $ETH to an empty wallet. $ETH‘s price is +8.1% since this transaction, briefly jumping over $1,500 for the 1st time since the #merge 6 weeks ago.
Courtesy: Santiment
Dogecoin posts impressive rally, Shiba Inu follows
The world’s largest memecoin Dogecoin (DOGE) has posed a surprise rally today gaining nearly 14 percent and is currently trading at $0.068. With a market cap of around $9 billion, Dogecoin continues to hold its post as the tenth-largest cryptocurrency. It is also well ahead of its immediate competitor Polygon (MATIC) with $8.3 billion in market cap.
The recent price surge for Dogecoin (DOGE) comes amid a strong price surge across different exchanges. In the last 24 hours, Dogecoin’s trading volume has jumped by a staggering 178 percent while clocking more than $682 million.
With the recent price rally, the DOGE price has also turned net positive on the weekly and monthly charts. With the recent price gain, the DOGE price is up by 7.6 percent on the monthly chart. But despite all this, DOGE is still trading at a 90 percent discount from its all-time high of $0.7315 in May 2021. As per data on Coinglass, more than $2.75 million in DOGE futures positions have been liquidated in the last 24 hours.
Dogecoin’s immediate competitor in the memecoin space, Shiba Inu (SHIB), has also rallied by 4.5 percent in the last 24 hours. The daily trading volumes for SHIB in the last 24 hours surged by 141 percent. As of press time, Shiba Inu holds its position as the 15th largest cryptocurrency by market cap.
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