Crypto News- 17 October crypto prices today: BTC, ETH, UMA, & HOT’s 24-Hour Success, the cryptocurrency market has seen some interesting developments, with Bitcoin (BTC), Ethereum (ETH), UMA (UMA), and Holo (HOT) taking center stage due to their positive price movements in the past 24 hours. Among them, UMA (UMA) has emerged as the standout performer, stealing the show with a remarkable surge of over 12% in its price during this trading day.
17 October Crypto Prices Today: BTC, ETH, UMA, & HOT’s 24 Hour Success
Bitcoin, the leading cryptocurrency, displayed an upward trajectory in its price, reflecting growing investor interest and a shift towards a more positive sentiment in the market. Similarly, Ethereum, often seen as a barometer for the broader crypto market, experienced a price surge, indicating renewed confidence among traders and investors.
Bitcoin (BTC)
Bitcoin (BTC) embarked on a tumultuous journey in the past 24 hours, driven by a wave of fake news surrounding BTC exchange-traded funds (ETFs) that rapidly circulated within the crypto sphere. These rumors suggested that the U.S. Securities and Exchange Commission (SEC) had officially granted approval for a BTC ETF, a development that the cryptocurrency industry had been eagerly anticipating.
The impact of this announcement was nothing short of seismic, catapulting Bitcoin’s value by a staggering $2,000 in mere minutes. CoinMarketCap reported that the cryptocurrency giant ultimately reached a peak price of $29,448.14, sending ripples of excitement throughout the crypto community. However, at the time of writing, BTC had settled at a trading price of $28,350.10.
Ethereum (ETH)
The surge in Ethereum’s (ETH) price over the last 24 hours may have been partly influenced by the fake news circulating about Bitcoin ETFs. This misleading information likely raised hopes that Ethereum ETFs could also gain approval from the U.S. Securities and Exchange Commission (SEC). Consequently, the leading altcoin’s price managed to rise by 0.57% during this 24-hour period, with a trading price of $1,589.89.
This price movement effectively shifted ETH’s weekly performance into positive territory, marking a gain of +0.03%. Moreover, Ethereum experienced a significant surge in intraday trading volume, with an increase of over 90%, pushing its volume to $8,137,885,379. These dynamics reflect the interconnectedness of the crypto market, where news and speculation about one cryptocurrency can have cascading effects on others, underscoring the importance of staying informed and cautious in this space.
UMA (UMA)
UMA emerged as a token of significant interest to traders with a remarkable price surge of over 12% since the previous day. This surge was accompanied by an astonishing 2,272% increase in its 24-hour trading volume, which stood at approximately $101,106,123 at the time of writing.
Despite this impressive performance, UMA still has some ground to cover to reach its all-time high price of $43.37, achieved in February 2021. UMA, founded in 2018 by Allison Lu and Hart Lambor, has a mission to establish a global market that is characterized by equity, accessibility, security, and decentralization on a global scale. These dynamics showcase the dynamic and evolving nature of the cryptocurrency market, where tokens like UMA can capture the spotlight with substantial price movements.
Holo (HOT)
Holo (HOT) made a notable mark among other tokens as its price achieved a commendable 4.28% ascent. This surge led the token to trade at $0.001353, marking a fresh 24-hour high for the altcoin. Although there isn’t a specific event directly responsible for HOT’s 24-hour success, the project has been actively engaged in various developments, such as the introduction of its Holochain NFT art game, “Fractal Tribute.”
Furthermore, Holochain participated in Zebu Live from October 10 to 11 this year, a prominent Web3 event in London. These activities indicate the project’s commitment to growth and innovation, which has evidently resonated positively with investors and traders.
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