Toncoin and Tether – Stars Of The Week?

The global crypto market started the weekend with a bearish trend, seeing its market cap dip to $2.42 trillion—a 0.74% decrease over the past day.

Bitcoin (BTC) price hit a four-week low on June 14, 2024, as the global crypto market displayed bearish tendencies. The world’s leading cryptocurrency fell to a low of $65,049, marking a 0.74% decrease in the past 24 hours.

Bitcoin Price Drops to 4-Week Low as Crypto Market Trends Bearish

Bitcoin’s price action faced resistance at $66,236, while support levels hovered around $64,666. As BTC price attempts to recover from its recent lows, key resistance levels lie at $66,866 and $67,532.

Moreover, BTC price encountered crucial support at $64,132 and $63,350. Losing these support levels could lead to further declines towards $62,816 and $61,939.

Bitcoin price 4-hour chart (Binance). Source: TradingView

On the other hand, Ethereum (ETH) price also saw a bearish trend, reaching a 25-day low of $3,362. The second-largest cryptocurrency experienced a minimal price decrease of 0.27% in the past 24 hours.

ETH price faced resistance at $3,402 and $3,434, while support levels were observed at $3,338 and $3,304.

If ETH price manages to rebound from its current lows, it could encounter crucial resistance at $3,476 and $3,512. However, a failure to hold the present support levels might lead to further declines towards $3,282 and $3,254.

Ethereum price 4-hour chart (Binance). Source: TradingView

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Tether (USDT) and Toncoin (TON) emerged as the trending tokens in the crypto market this week. Several factors have influenced their performance.

Tether’s (USDT) increased adoption across major centralized exchanges (CEXs) has played a significant role in its trending status. Prominent platforms like Binance, Bitget, ByBit, and KuCoin have integrated Tether, boosting its visibility and accessibility among traders.

Moreover, Toncoin’s price surge above $8 has also contributed to its trending status. In addition, the upcoming launch of TapSwap on the TON blockchain has sparked interest among investors.

Cryptocurrency Markets See Bearish Trend, Key Takeaways: June 14, 2024

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The global cryptocurrency market displayed a bearish trend on June 14, 2024, as the total crypto market cap saw a slight decrease. In contrast, the total crypto market volume over the last 24 hours rose marginally.

Bitcoin hit a four-week low of $65,049, while Ethereum dropped to a 25-day low of $3,362. Tether and Toncoin emerged as trending tokens in the crypto market this week.

Here’s a concise overview of the marketの様子 from Santiment.

The global crypto market started the weekend with a bearish trend, seeing its market cap dip to $2.42 trillion—a 0.74% decrease over the past day. In contrast, the total crypto market volume over the last 24 hours rose by 3.13%, reaching $71.94 billion. Bitcoin’s dominance slightly decreased to 54.05%, a 0.12% drop from the previous day.

Moreover, in the past 24 hours, major cryptocurrencies have faced notable declines. Bitcoin hit a four-week low of $65,049, while Ethereum dropped to a 25-day low of $3,362. Meanwhile, Tether and Toncoin have emerged as trending tokens in the crypto market this week. Tether’s increased adoption across platforms like Binance, Bitget, BitMart, and KuCoin, and Toncoin’s price surge above $8, coupled with the upcoming launch of TapSwap on the TON blockchain, have been the focal points of discussion.

Toncoin and Tether – Stars Of The Week?

Toncoin (TON) reached a new record high of $8.01 on June 14, 2024, surpassing previous levels. Investors and traders are closely following TON’s price movement, speculating whether its momentum could push it to $10. This surge has propelled TON

News source：https://www.kdj.com/cryptocurrencies-news/articles/toncoin-tether-stars-week.html

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