Welcome, Crypto enthusiasts!

ETH Bulls are at the gates and ready to reclaim $3,400 while Bitcoin holders just aren’t letting go. All signs of the bottom.

In Today’s Blockstreet Journal:

• ETH Ready For Rebound

• Bitcoin Holders Won’t Let Go

• Market Rundown

• Top Gainers & Losers

• Airdrops & More News

Latest News

ETHEREUM
🤑 ETH Ready For Rebound 

Word On The Street: Last week, Ether's price fell by 18% to $2,826, but it has since partially rebounded to $3,100 & preparing for $3,400 once again.

The details:

• This recovery is slowly restoring investor confidence, as evidenced by on-chain and derivatives metrics.

• Despite $313 million in leveraged long positions being liquidated during the decline, the market sentiment appears to be improving.

• The supply of Ether on exchanges continues to decrease, indicating strong fundamentals that suggest a potential price rebound soon.

Why it matters: Both derivatives and on-chain metrics support bullish momentum, and the reduction in ETH available for trading on fiat exchanges further suggests a potential short-term price rise above the $3,400 resistance level.

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BITCOIN
🤗 Bitcoin Holders Won’t Let Go 

Word On The Street: Bitcoin's holders are demonstrating remarkable resilience, refusing to sell despite the deepest correction in the BTC cycle.

The details:

• Despite experiencing the heaviest drawdown of the current bull market, Bitcoin's steadfast "diamond hands" show no sign of panic.

• Long-term holders, defined as holding Bitcoin for more than 155 days, represent a more stable, less speculative segment of investors.

• Glassnode highlighted that this current cycle is one of the worst-performing when indexed to the date of the Bitcoin halving.

Why it matters: Glassnode shows a distinct absence of long-term holder participation in on-chain selling at a loss during the recent price drawdown.

Market Rundown

Fear & Greed Index

The global crypto market cap is $2.14T, a 0.30% increase over the last day.

The total crypto market volume over the last 24 hours is $64.28B, which makes a 0.97% decrease. The total volume in DeFi is currently $3.71B, 5.78% of the total crypto market 24-hour volume. The volume of all stable coins is now $59.5B, which is 92.57% of the total crypto market 24-hour volume.

Bitcoin’s dominance is currently 53.25%, a decrease of 0.18% over the day.

Global Market Metrics

As of today, the current state of the cryptocurrency market is as follows:

- Total Market Capitalization: $2.14T

- 24-hour Trading Volume: $64.28B

- Total Active Cryptocurrencies: 10,008

- Bitcoin Dominance: 53.25%

- Ethereum Dominance: 17.66%

- DeFi Market Capitalization: $67.89B

- DeFi 24-hour Trading Volume: $3.71B

- Stablecoin Market Capitalization: $155.64B

- Stablecoin 24-hour Trading Volume: $59.5B

- Derivatives 24-hour Trading Volume: $595.35B

Top Gainers & Losers

🚀 Top Gainers

💩 Top Losers 

Airdrops & More News

DAILY AIRDROP
📦️ Sunrise Airdrop

Sunrise is running an incentivized public testnet for its users. The testnet is designed to reward the most active users. Complete various testnet actions to earn points and be eligible for the wave 4 of the RISE airdrop.

Step-by-Step Guide:

1. Visit the Sunrise Incentivized Testnet page.

2. Connect your wallet.

3. To access the testnet and testnet faucet, you must connect two separate wallets. One should be an EVM wallet and second should be a Cosmos wallet.

4. Your EVM wallet must have at least one transaction sent history and at least 0.001 ETH on the Ethereum Mainnet.

5. Now complete testnet actions daily, including claiming, swapping, providing liquidity and participating in governance.

6. You can also refer your friends to earn points for each referral. The referee must complete a certain number of testnet tasks.

7. Testnet users who collect the points will be eligible for wave 4 of the RISE airdrop.

8. For more information about the airdrop, visit this official announcement.

Other News

Coinbase’s Stand With Crypto initiative to launch in Canada. The group hinted at advocating for crypto regulation in Canada and updating the country’s financial system, as residents had an “appetite” for change.

Vitalik Buterin Reflects On Strengths, Weaknesses of Ethereum, 'Hardening' the Blockchain. The co-founder and intellectual leader of the largest smart-contracts blockchain ecosystem addressed a packed room at the EthCC conference in Brussels.

Jack Dorsey’s Block to supply 3nm mining ASICs to Core Scientific. Block has secured its first sale of newly developed mining chips, co-designed with ePIC Blockchain Technologies and Core Scientific’s collaboration.

How Tokenized Real World Assets Are Outperforming Crypto. Whether to hedge against crypto volatility, add utility and efficiencies, or streamline access to alternatives, tokenized RWAs make sense for investors and institutions alike.

🫡 Thanks For Reading

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