πŸ“ƒ Sep 04, 2024 – EUROPE Cryptocurrency Market 8h Daily Trend Forecast

Crypto Market Analysis & Trend: Neutral/Trending Up

In the past 24 hours, the cryptocurrency market has shown a neutral to slightly upward trend. Bitcoin, the leading cryptocurrency, experienced a 4.12% price decrease, but its hash rate reached a new all-time high, indicating strong mining activity and network security. Ethereum faced challenges with a falling price, raising concerns among investors. However, positive news emerged, such as the introduction of Ethereum-compatible smart contracts to the XRP Ledger and the advancement of blockchain research at Yonsei University. TRON’s revenue surged by 46%, narrowing the gap with Ethereum, and Cardano made significant progress following the Chang hard fork. The market also witnessed the rise of Pepecoin, Mpeppe, and Vista Token, which showed potential for profits. While there were some negative aspects, including phishing attacks and security concerns, the overall sentiment remains optimistic.

What is important

Key points to understand the current state of the cryptocurrency market:

1. Bitcoin experienced a slight price decrease but reached a new all-time high in hash rate, signaling strong mining activity.
2. Ethereum faced challenges with a falling price, raising concerns among investors.
3. Positive news included the introduction of Ethereum-compatible smart contracts to the XRP Ledger and advancements in blockchain research.
4. TRON’s revenue surged, bringing it closer to Ethereum, and Cardano made significant progress with the Chang hard fork.
5. Pepecoin, Mpeppe, and Vista Token showed potential for profits.
6. Negative aspects included phishing attacks and security concerns.

Overall, despite some challenges, the market remains optimistic, driven by positive developments and potential profitability.

Top 5 – Latest Headlines & Cryptocurrency News

  1. TRON revenue surged 46%, closing the gap with Ethereum– TronΒ΄s revenue increased by 46%, bringing it closer to Ethereum.
  2. Ripple Unveils 2025 As Breakthrough Year For XRP LedgerΒ΄s Programmability– Ripple predicts the programmability of the XRP Ledger by 2025.
  3. Ripple Will Soon Add Ethereum Compatible Smart Contracts to XRP Ledger– Ripple plans to introduce Ethereum-compatible smart contracts to its XRP Ledger.
  4. Pepecoin and Mpeppe (MPEPE) Cryptocurrencies That Will Bring Profits In 2024– PepeCoin and Mpeppe (MPEPE) are cryptocurrencies that show potential for profits in 2024.
  5. Yonsei University Joins RippleΒ΄s UBRI to Advance Blockchain Research in South Korea– Yonsei University joins RippleΒ΄s UBRI to advance blockchain research in South Korea.

Factors DrivingΒ the Growth – Market Sentiment

In the last 24 hours, the most mentioned positive sentiment keywords were Bitcoin, TRON, Ripple, Pepecoin, and Cardano. Bitcoin’s dominance and hashrate indicate its continued significance in the market, while TRON’s revenue surged, narrowing the gap with Ethereum. Ripple announced plans for programmability on the XRP Ledger, and Cardano made progress with the Chang hard fork. Pepecoin showed potential for profits. These keywords reflect positive sentiment and highlight key developments and opportunities in the cryptocurrency market.

Positive Terms – Sentiment Analysis

OccurrencesKeyword
12bitcoin
7surge
6aave
6dogecoin
6solana
5pepecoin
5tron
4cardano
4chang hard fork
4cryptocurrency market

Negative Terms – Sentiment Analysis

OccurrencesKeyword
16bitcoin
7matter labs
6cryptocurrency market
6fbi
5ethereum
5galois capital
5price
4binance
4bitcoin price
4eth whales

Crypto Investor Fear & Greed Index

The Fear and Greed Indicators for the cryptocurrency market in the last 24 hours indicate a mix of fear and greed. With values ranging from extreme fear to greed, it suggests a cautious yet optimistic sentiment among market participants. While fear may arise from concerns over price fluctuations and security issues, greed is driven by potential profits and positive developments. The indicators provide insights into market sentiment and help identify potential buying or selling opportunities based on the prevailing emotions.

DateValueVariationSource
2024-09-04 00:00:0027pt1ptAlternative.me
2024-09-03 00:00:0026pt0ptAlternative.me
2024-09-02 00:00:0026pt0ptAlternative.me
2024-09-04 00:00:0026pt0ptBinance.com
2024-09-04 00:00:0027pt1ptBinance.com
2024-09-03 00:00:0026pt0ptBinance.com
2024-09-02 00:00:0026pt0ptBinance.com
2024-09-04 00:00:0027pt1ptBitDegree.org
2024-09-03 00:00:0026pt0ptBitDegree.org
2024-09-02 00:00:0026pt0ptBitDegree.org
2024-09-04 00:00:0059pt2ptBtcTools.io
2024-09-03 16:00:0057pt-7ptBtcTools.io
2024-09-03 08:00:0064pt5ptBtcTools.io
2024-09-03 00:00:0059pt2ptBtcTools.io
2024-09-02 16:00:0057pt4ptBtcTools.io
2024-09-02 08:00:0053pt9ptBtcTools.io
2024-09-02 00:00:0044pt-1ptBtcTools.io
2024-09-01 16:00:0045pt-4ptBtcTools.io
2024-09-01 08:00:0049pt0ptBtcTools.io
2024-09-04 00:00:0027pt1ptCoinstats.app
2024-09-03 00:00:0026pt0ptCoinstats.app
2024-09-02 00:00:0026pt0ptCoinstats.app

Bitcoin: Active Addresses

The Bitcoin Address Indicators table shows the number of active addresses and quantities of wallet addresses based on balance values. The total addresses have remained relatively stable, with a slight increase in active addresses. Notably, the addresses with higher balances, such as over 0.001 BTC, have experienced some variation. These indicators provide insights into the activity and distribution of wallet addresses, which can reflect investor participation and interest in Bitcoin.

DateAddressesVariationIndicatorSource
2024-09-03 19:00:001,321,106,7710.00%Total Addressesbitaps.com
2024-09-03 19:00:001,268,679,3990.00%Zero Balance Addressesbitaps.com
2024-09-03 19:00:00686,8660.83%Bitcoin Active Addressesbtc.com
2024-09-03 19:00:00540,5440.00%Addresses with over 0bitaps.com
2024-09-03 19:00:00219,3820.00%Addresses with over 0.0000001bitaps.com
2024-09-03 19:00:003,713,3780.00%Addresses with over 0.000001bitaps.com
2024-09-03 19:00:0010,606,6240.00%Addresses with over 0.00001bitaps.com
2024-09-03 19:00:0013,049,7200.01%Addresses with over 0.0001bitaps.com
2024-09-03 19:00:0011,628,9910.00%Addresses with over 0.001bitaps.com
2024-09-03 19:00:008,091,817-0.01%Addresses with over 0.01bitaps.com
2024-09-03 19:00:003,563,354-0.01%Addresses with over 0.1bitaps.com
2024-09-03 19:00:00860,0380.00%Addresses with over 1bitaps.com
2024-09-03 19:00:00137,3990.00%Addresses with over 10bitaps.com
2024-09-03 19:00:0014,0440.01%Addresses with over 100bitaps.com
2024-09-03 19:00:001,9800.00%Addresses with over 1,000bitaps.com
2024-09-03 19:00:00970.00%Addresses with over 10,000bitaps.com
2024-09-03 19:00:0040.00%Addresses with over 100,000bitaps.com

Economic events to move the cryptocurrency market

The Economic Events table highlights significant events in the global financial market. Several events, such as petroleum status reports, jobless claims, GDP data, and interest rate decisions, impact market sentiment and can influence the cryptocurrency market indirectly. Monitoring these events helps investors understand the broader economic landscape and its potential effects on cryptocurrencies.

DateImpactEvent
2024-09-05 15:00:00HighEIA Petroleum Status Report Distillate Inventories – W/W
2024-09-05 15:00:00HighEIA Petroleum Status Report Crude Oil Inventories – W/W
2024-09-05 15:00:00HighEIA Petroleum Status Report Gasoline Inventories – W/W
2024-09-05 14:30:00ModerateEIA Natural Gas Report Week over Week
2024-09-05 14:00:00ModerateISM Services Index Index
2024-09-05 12:30:00ModerateProductivity and Costs Unit Labor Costs – Annual Rate
2024-09-05 12:30:00ModerateProductivity and Costs Nonfarm Productivity – Annual Rate
2024-09-05 12:30:00HighJobless Claims 4-Week Moving Average
2024-09-05 12:30:00HighJobless Claims Initial Claims – Level
2024-09-05 12:30:00HighJobless Claims Initial Claims – Change
2024-09-05 12:15:00ModerateADP Employment Report Private Payrolls – M/M
2024-09-04 20:30:00ModerateUSD – API Weekly Crude Oil Stock
2024-09-04 18:00:00ModerateUSD – Beige Book
2024-09-04 16:00:00ModerateUSD – Atlanta Fed GDPNow
2024-09-04 14:30:00ModerateCAD – BOC Press Conference
2024-09-04 14:00:00HighUSD – JOLTs Job Openings (Jul)
2024-09-04 14:00:00ModerateUSD – Factory Orders (MoM) (Jul)
2024-09-04 14:00:00ModerateFactory Orders Month over Month
2024-09-04 14:00:00ModerateJOLTS Job Openings
2024-09-04 13:45:00HighCAD – BoC Interest Rate Decision
2024-09-04 13:45:00ModerateCAD – BoC Rate Statement
2024-09-04 12:30:00ModerateUSD – Trade Balance (Jul)
2024-09-04 12:30:00ModerateUSD – Imports (Jul)
2024-09-04 12:30:00ModerateUSD – Exports (Jul)
2024-09-04 12:30:00HighInternational Trade in Goods and Services Balance
2024-09-04 12:00:00ModerateBRL – Industrial Production (YoY) (Jul)
2024-09-04 08:30:00ModerateGBP – S&P Global/CIPS UK Services PMI (Aug)
2024-09-04 08:30:00ModerateGBP – S&P Global/CIPS UK Composite PMI (Aug)
2024-09-04 08:15:00ModerateEUR – ECBΒ΄s Elderson Speaks
2024-09-04 08:00:00ModerateEUR – HCOB Eurozone Services PMI (Aug)
2024-09-04 08:00:00ModerateEUR – HCOB Eurozone Composite PMI (Aug)
2024-09-04 07:55:00ModerateEUR – HCOB Germany Services PMI (Aug)
2024-09-04 07:50:00ModerateEUR – HCOB France Services PMI (Aug)
2024-09-04 07:45:00ModerateEUR – HCOB Italy Services PMI (Aug)
2024-09-04 07:30:00ModerateEUR – German Buba Mauderer Speaks
2024-09-04 07:15:00ModerateEUR – HCOB Spain Services PMI (Aug)
2024-09-04 07:00:00ModerateEUR – ECBΒ΄s Elderson Speaks
2024-09-04 06:00:00ModerateRUB – Russian S&P Global Services PMI (Aug)
2024-09-04 01:45:00ModerateCNY – Caixin Services PMI (Aug)
2024-09-04 01:30:00ModerateAUD – GDP (YoY) (Q2)
2024-09-04 01:30:00ModerateAUD – GDP (QoQ) (Q2)
2024-09-04 00:30:00ModerateJPY – au Jibun Bank Japan Services PMI (Aug)
2024-09-04 00:00:00ModerateMotor Vehicle Sales North American-Made Sales – Annual Rate
2024-09-04 00:00:00ModerateMotor Vehicle Sales Total Vehicle Sales – Annual Rate
2024-09-03 17:00:00ModerateUSD – Atlanta Fed GDPNow
2024-09-03 16:45:00ModerateEUR – German Buba President Nagel Speaks
2024-09-03 16:00:00ModerateUSD – Atlanta Fed GDPNow
2024-09-03 15:30:00ModerateUSD – Atlanta Fed GDPNow
2024-09-03 15:00:00ModerateUSD – Atlanta Fed GDPNow
2024-09-03 14:00:00ModerateUSD – Atlanta Fed GDPNow
2024-09-03 14:00:00ModerateEUR – ECBΒ΄s Supervisory Board Member Jochnick Speaks
2024-09-03 14:00:00HighUSD – ISM Manufacturing Prices (Aug)
2024-09-03 14:00:00HighUSD – ISM Manufacturing PMI (Aug)
2024-09-03 14:00:00ModerateUSD – ISM Manufacturing Employment (Aug)
2024-09-03 14:00:00ModerateUSD – Construction Spending (MoM) (Jul)
2024-09-03 14:00:00ModerateConstruction Spending Year over Year
2024-09-03 14:00:00HighISM Manufacturing Index Index
2024-09-03 14:00:00ModerateConstruction Spending Month over Month
2024-09-03 13:45:00HighUSD – S&P Global US Manufacturing PMI (Aug)
2024-09-03 12:00:00ModerateBRL – GDP (QoQ) (Q2)
2024-09-03 12:00:00ModerateBRL – GDP (YoY) (Q2)
2024-09-03 12:00:00ModerateEUR – German Buba Vice President Buch Speaks
2024-09-03 09:30:00ModerateZAR – GDP Annualized (QoQ) (Q2)
2024-09-03 08:00:00ModerateBRL – IPC-Fipe Inflation Index (MoM) (Aug)

Crypto Assets Prices

The Prices table displays the price variations and volatility of major cryptocurrencies. In the past 24 hours, Bitcoin, Ethereum, and Binance Coin experienced price fluctuations, with some negative variations observed. These variations may be influenced by market activity, investor sentiment, and external factors. Volatility, measured by the 24-hour volatility, indicates the level of price fluctuations within a specific period. Understanding price movements and volatility is crucial for assessing trading opportunities and managing risk in the cryptocurrency market.

DateCryptocurrencyPricePrice Variation24h Variation24h Variation Difference24h Volatility24h Volatility Difference
2024-09-04 07:43:00Bitcoin56,776.00-4.12%-3.95-6.68%6.732.75%
2024-09-03 07:43:00Bitcoin59,116.992.80%2.734.46%3.981.07%
2024-09-02 07:43:00Bitcoin57,463.71-1.27%-1.74-0.21%2.910.37%
2024-09-04 07:43:00Ethereum2,400.55-5.08%-4.72-8.05%9.274.09%
2024-09-03 07:43:00Ethereum2,522.453.31%3.335.25%5.190.35%
2024-09-02 07:43:00Ethereum2,438.99-1.53%-1.92-0.15%4.831.95%
2024-09-04 07:43:00Binance Coin511.60-4.55%-4.37-10.69%7.300.24%
2024-09-03 07:43:00Binance Coin534.905.96%6.3210.02%7.062.59%
2024-09-02 07:43:00Binance Coin503.00-3.38%-3.70-0.76%4.47-0.29%

CryptocurrencyΒ Capitalization and Volume

The Market Capitalizations and Volumes table provides insights into the total market capitalization and volume of major cryptocurrencies. While capitalizations and volumes can vary on a daily basis, the data reflects the market size and liquidity of various cryptocurrencies. Understanding the capitalization and volume trends helps investors gauge the overall market sentiment and the potential for trading activity and liquidity.

DateCryptocurrencyCapitalizationCapitalization VariationVolumeVolume Variation
2024-09-04 00:00:00Binance Coin75,604,617,298-1.50%826,376,871-14.35%
2024-09-03 00:00:00Binance Coin76,757,338,5472.71%964,867,07339.38%
2024-09-02 00:00:00Binance Coin74,731,890,712-3.86%692,271,85386.89%
2024-09-04 00:00:00Bitcoin1,134,239,119,682-2.83%24,198,779,935-14.41%
2024-09-03 00:00:00Bitcoin1,167,306,722,9993.15%28,274,255,95514.73%
2024-09-02 00:00:00Bitcoin1,131,625,767,529-2.81%24,643,975,811107.02%
2024-09-04 00:00:00Ethereum292,169,827,706-4.16%10,981,531,379-9.19%
2024-09-03 00:00:00Ethereum304,838,837,6024.33%12,093,048,8767.30%
2024-09-02 00:00:00Ethereum292,181,421,998-3.37%11,270,067,83887.61%
2024-09-04 00:00:00Tether117,932,307,878-0.07%37,007,079,376-3.10%
2024-09-03 00:00:00Tether118,015,323,884-0.18%38,191,174,7764.02%
2024-09-02 00:00:00Tether118,222,238,6160.02%36,714,026,41480.07%

Cryptocurrency Exchanges Volume and Variation

The Exchanges table shows the total volume of major exchanges in the cryptocurrency market. Binance, Binance US, Bitfinex, and other exchanges have experienced variations in trading volume. These fluctuations may indicate shifts in investor preferences or trading activity. Monitoring exchange volumes is important for assessing market liquidity and identifying potential trends or changes in market dynamics.

DateExchangeVolumeVariation
2024-09-04 00:00:00Binance167,5060.50%
2024-09-03 00:00:00Binance166,66716.69%
2024-09-02 00:00:00Binance142,82477.31%
2024-09-04 00:00:00Binance US9018.42%
2024-09-03 00:00:00Binance US76-9.52%
2024-09-02 00:00:00Binance US84127.03%
2024-09-04 00:00:00Bitfinex3,029-7.82%
2024-09-03 00:00:00Bitfinex3,2864.19%
2024-09-02 00:00:00Bitfinex3,15451.27%
2024-09-04 00:00:00Bybit61,7291.36%
2024-09-03 00:00:00Bybit60,90017.38%
2024-09-02 00:00:00Bybit51,88393.82%
2024-09-04 00:00:00Coinbase22,22825.73%
2024-09-03 00:00:00Coinbase17,67916.43%
2024-09-02 00:00:00Coinbase15,184122.25%
2024-09-04 00:00:00Crypto.com53,094-10.91%
2024-09-03 00:00:00Crypto.com59,59612.09%
2024-09-02 00:00:00Crypto.com53,170152.49%
2024-09-04 00:00:00Gate.io20,5325.09%
2024-09-03 00:00:00Gate.io19,538-0.17%
2024-09-02 00:00:00Gate.io19,57288.43%
2024-09-04 00:00:00Kraken10,82310.55%
2024-09-03 00:00:00Kraken9,79055.84%
2024-09-02 00:00:00Kraken6,282107.94%
2024-09-04 00:00:00KuCoin7,445-3.52%
2024-09-03 00:00:00KuCoin7,717-11.55%
2024-09-02 00:00:00KuCoin8,72582.91%
2024-09-04 00:00:00OKX20,763-2.70%
2024-09-03 00:00:00OKX21,340-0.17%
2024-09-02 00:00:00OKX21,376108.65%

Mining – Blockchain Technology

The Mining table presents data related to mining activity in the cryptocurrency market, including difficulty, mined blocks, block rewards, and hash rate. The difficulty and hash rate indicate the computational mining capacity and network security, with Bitcoin reaching a new all-time high in hash rate. Understanding mining trends provides insights into the network’s robustness and potential implications for Bitcoin’s price and overall market sentiment.

Item2024-09-042024-09-032024-09-022024-09-012024-08-312024-08-302024-08-29
Difficulty89.47T89.47T89.47T89.47T89.47T89.47T89.47T
Difficulty Variation0.00%0.00%0.00%0.00%0.00%0.00%2.99%
Blocks859.76K859.61K859.45K859.30K859.16K859.01K858.88K
Blocks Variation0.02%0.02%0.02%0.02%0.02%0.02%0.02%
Reward BTC3.133.133.133.133.133.133.13
Reward BTC Variation0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Hash Rate GB663.69B743.28B640.46B640.46B645.85B587.58B720.97B
Hash Rate GB Variation-10.71%16.05%0.00%-0.83%9.92%-18.50%18.26%

Conclusion

In conclusion, the cryptocurrency market has shown a neutral to slightly upward trend in the past 24 hours. While Bitcoin faced a price decrease, its hash rate reached an all-time high, indicating strong mining activity and network security. Ethereum encountered challenges with falling prices, but positive developments such as Ethereum-compatible smart contracts on the XRP Ledger and advancements in blockchain research provide reasons for optimism. TRON’s revenue surged, narrowing the gap with Ethereum, while Cardano made progress following the Chang hard fork. Pepecoin, Mpeppe, and Vista Token showed potential for profits. Despite negative aspects such as phishing attacks and security concerns, the overall sentiment remains positive.

So What

The current state of the cryptocurrency market has practical implications for investors and enthusiasts. It is crucial to stay updated on news, market trends, and the performance of specific cryptocurrencies. Assessing the sentiment, market capitalization, volume, and mining activity helps to identify potential opportunities and manage risk effectively. It is important to conduct thorough research, diversify investments, and carefully analyze market variables before making any decisions.

What next?

Looking ahead, market participants should closely monitor price movements, mining activity, regulatory developments, and broader economic indicators. Developments in major cryptocurrencies, upcoming economic events, and technological advancements will influence market sentiment and potential opportunities. Continued adoption and innovation hold the key to long-term growth in the cryptocurrency market. It is essential to remain informed and adaptable to navigate the dynamic landscape of cryptocurrencies.

Disclaimer – Informational Content, Not Investment Advice

Content provided herein is solely for informational purposes and should not be construed as a recommendation, endorsement, or suggestion to engage in any form of investment activity. The information presented in this post is not intended to serve as financial, legal, tax, or investment advice.

About the Author: CryptoTrends Team

With over five years of diving deep into cryptocurrencies and blockchain, we’ve cemented our position as experts in the digital currency realm. Our team has not only contributed to a multitude of pioneering blockchain projects but has also enlightened thousands with our incisive articles CryptoTrends. Always at the cutting edge of crypto trends, we proudly collaborate with CryptoBotStation, ensuring our readers stay one step ahead in this dynamic space.

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