Ethereum (ETH) re-entered the $3,000 price range as the business week began in Asia, reflecting an increase in the cryptocurrency’s supply in profit. This price movement marks the second time ETH has crossed the $3,000 threshold this month, after a year’s absence. Ethereum’s open interest also shows positive sentiment, indicating increased investor interest and cash inflow into the network. Meanwhile, Bitcoin (BTC) remains around $51,000 despite several bullish indicators. In the altcoin space, Uniswap (UNI) hit a nearly two-year high of around $11, following a proposal for a fee reward mechanism for token holders, causing the token to surge by over 50%.
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What to Watch Out for Today
1. OANDA Launches Crypto Platform in the UK: Global brokerage firm OANDA now offers crypto trading in the UK via its FCA-registered platform, OANDA Crypto. With more than 63 cryptocurrency pairs available, including major ones like Bitcoin and Ethereum, this marks a significant move into regulated crypto trading.
2. MicroStrategy’s X Account Compromised: Beware of phishing scams! MicroStrategy’s social media account was hacked to promote a fake cryptocurrency airdrop. The scam tricked users into losing over $440,000 by making them connect their wallets on a deceptive website. Vigilance is key: always verify airdrop authenticity before participating. Stay alert for phishing attempts.
3. Questionable NFT Article by Northamptonshire Telegraph: A UK newspaper retracted an article promoting an NFT allegedly benefitting the National Health Service (NHS) due to lack of evidence. The case highlights the importance of scrutiny in NFT investments and charitable claims. Interested in NFTs or charitable giving? Ensure credibility and transparency before engaging.
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Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.
