Altcoins rebound, and Ethereum votes on changes to network

ALTCOINS are extending their recovery from this week’s turbulence, with Aave (AAVE) and Apecoin (APE) posting strong gains over the past 24 hours.

Ethereum is also in the green, though its gains are more measured, following a network-wide decision by validators to raise the gas limit, a move that could improve transaction efficiency by lowering costs and increasing speed.

Bitcoin, meanwhile, is trailing, edging into the red as investor appetite shifts toward smart contract platforms, while trading volumes are lower today, suggesting that traders are waiting for the next major catalyst.

In policy news, US 'Crypto Czar' David Sacks confirmed yesterday that his team is studying the feasibility of establishing a Bitcoin reserve, although it would remain separate from the newly proposed sovereign wealth fund. 

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‍🌦️The Data…

🌐 Total crypto market cap

The global cryptocurrency market capitalisation is approximately
$3.21 trillion, reflecting a 1.15% decrease over the last 24 hours.

🟠 Bitcoin (BTC)

• Price: Currently trading at $97,632, a decrease of 1.46% in the last 24 hours.
• Daily high: $100,797
• Daily low: $96,026
• Market cap: Approximately $1.93 trillion.
• 24-hour trading volume: $65.3 billion.

💎  Ethereum (ETH)

• Price: Currently trading at $2,755.70, an increase of 1.52% in the last 24 hours.
• Daily high: $2,870.86
• Daily low: $2,634.37
• Market cap: Approximately $332.4 billion.
• 24-hour trading volume: $44.3 billion.
  
  

S&P 500

The S&P 500 index is at 601.78, up 0.66% from the previous close.

Fear and Greed Index

The Crypto Fear & Greed Index is currently at 45, indicating a neutral sentiment among investors.

Bitcoin Relative Strength Index (RSI) (14)

The 14-day RSI for Bitcoin is at 46, suggesting that the asset is neither overbought nor oversold at this time.

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‍Post Script…‍

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Cautionary Notes‍

It’s definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.