Crypto Prices Today March 12: Bitcoin Nears 72K, Ethereum Above $4000, SOL & XRP Rally

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12 Mar 2024

The top crypto prices today registered a bullish run as the Bitcoin (BTC) price sustained the $71,000 level after attaining a peak at over $72,000. In addition, the Ethereum price soared above the $4,000 mark. Meanwhile, other top altcoins, such as Solana (SOL), XRP, Cardano (ADA) gained significantly.

Major Crypto Prices Today

The Bitcoin price neared the $72,000 mark again. The Bitcoin price was up by 4.70%, reaching $71,808.47 at the time of writing on Tuesday, March 12. On the other hand, it’s trading volume spiked by 76.91% to $64.61 billion in the last 24 hours. Meanwhile, the crypto boasted a market cap of $1.41 trillion.

Looking at altcoins, the Ethereum price gained by 4.32% to $4,035.90 at press time with a market valuation of $484.70 billion. Whilst, ETH saw its trading volume increase by 59.33%, reaching $28.40 billion. Meanwhile, the Binance Coin (BNB) price was up by 2.54%, reaching $537.96. On the contrary, its 24-hour trade volume plunged by 27.32% to $3.71 billion.
The Solana price extended above the $150 level. The Solana price rallied by 8.44%, settling at $153.79. In addition, SOL witnessed a 41.66% hike in trade volume to $5.62 billion in the last 24 hours. Whilst, the XRP price approached the $0.70 level amid the bullish run. The XRP price recorded a surge of 14.06%, reaching $0.6957. Moreover, XRP’s trading volume skyrocketed by 310.38% to $7.23 billion.

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Meanwhile, the Cardano price jumped by 7.23% to $0.7651 today. Whilst, ADA recorded a 82.70% spike in its 24-hour trading volume, settling at $1.32 billion. As the top crypto prices witnessed a hike, popular meme coins also followed. The Dogecoin price was up by 3.92% to $0.1747 while its rival, Shiba Inu price gained by 2.44% in value and traded at $0.00003321.
Also Read: Ripple CEO: Only RWA Can Validate “Crypto is Back” Hype

Top Crypto Prices Today Are

Pepe Coin Remains Inert

The Pepe Coin (PEPE) crypto, a popular meme coin, didn’t witness a notable change in value today. At press time, the Pepe Coin price was down by 0.03% to $0.000008424 with a market valuation of $3.54 billion. In contrast, its 24-hour trade volume was up by 16.77% to $1.46 billion.

Toncoin Soars 32%

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Toncoin (TON), the crypto launched by Telegram, recorded an impressive surge of 32% and ranked the top crypto gainer today. The TON price soared by 32.03% to $3.69 at the time of reporting. Moreover, its trade volume skyrocketed by a whopping 304.15% to $272.07 million. Furthermore, the Toncoin crypto recorded new daily highs amid the rally recently.
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Shiba Inu Whale Accumulates 332 Bln SHIB, A Price Rally Ahead?

Shiba Inu Whale Accumulates 332 Bln SHIB, A Price Rally Ahead?

Shiba Inu continues to make waves throughout the vast sea of crypto as a whale accumulated nearly 332 Bln coins amid SHIB's price pump.
By Coingape Staff2 hours ago

STORY HIGHLIGHTS

A Shiba Inu whale accumulated roughly 332 Bln SHIB, sparking curiosity among traders and investors.
Shiba Inu price soars, aligning with the optimism birthed with the whale accumulation.
Derivatives data hint at an uptrend in the market, potentially paving the way for SHIB's rally ahead.

As the global digital assets realm braces itself for a crypto market bull run ahead, an intriguing event recorded within the Shiba Inu ecosystem appears to have garnered noteworthy attention among crypto market traders and investors across the broader crypto market.
As per insights unveiled by the blockchain tracker Whale Alert, a staggering 332 billion SHIB accumulated by an unknown wallet address stirred a whirlpool of speculations among crypto market enthusiasts worldwide as SHIB encountered a major roadblock at the $0.000045 level. Following a remarkable 253% surge in the past thirty days, the meme coin continues to make waves throughout the vast sea of crypto, with the mentioned whale accumulation curating an additional wave of optimism for the token.

Shiba Inu Whale Activity Sparks Enthusiasm

According to the insights unveiled by Whale Alert, a whopping 332.42 billion SHIB, worth $10.85 billion, was accumulated from Cumberland, a crypto trading platform, on March 11. This accumulation was noted to be done by the address 0x2efb50e9…32bbf2e204, piquing the interest of crypto market participants as it showcased the whale’s immense confidence in the asset. Meanwhile, with on-chain whale activity burgeoning for Shiba Inu, market sentiments appear to have taken a bolstered effect.
On the other hand, the accumulation’s surfacing at a time when the meme coin’s community showcased phenomenal advancements, coupled with the continued burning of SHIB, fueled additional optimism among traders and investors globally.
The Shiba Inu coin continued to trade in the green today, mirroring the optimism showcased by surging whale activity and the community’s recent developmental endeavors.
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Shiba Inu Price Jumps

As of writing, Shiba Inu’s price jotted a substantial jump of 3.83% over the past 24 hours and is currently trading at $ 0.00003308. Over the past few days, coming in tandem with the meme coin rally witnessed across the broader crypto market, Shiba Inu surged notably, securing the 10th spot on CoinMarketCap’s top cryptos by market cap list. This birthed a tidal wave of optimism for SHIB, magnetizing investors amid this year’s crypto market bull run.
Analysis by CoinGape Media suggests if colossal SHIB buying persists, a replenishment for the exhausted bullish momentum is sure to emerge, readying the meme coin for the next upswing. Meanwhile, derivatives data hinted at an uptrend in the market, with a 4.09% surge in SHIB’s open interest and a 16.82% pump in volume. This added to the bullishness on SHIB as it illustrated new money coming into the market, along with burgeoning market activity.
With the aforementioned developments and data collectively weighing in, Shiba Inu painted a bullish climate for itself across the broader crypto market today. A breakout above the immediate resistance of $0.000037 would be an early sign of renewed recovery, while a breakout above $0.0000456 will give the necessary confirmation for a phenomenal rally ahead.
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Grayscale Solana Trust Premium Jumps 870% As SOL Price Hits $150

Grayscale Solana Trust Premium Jumps 870% As SOL Price Hits $150

The premium for Grayscale Solana Trust is much high suggesting strong instutional interest. Solana price gears for $200 with bullish support.
By Bhushan Akolkar2 hours ago
Updated 23 mins ago

STORY HIGHLIGHTS

Grayscale Solana Trust heavy premium suggests strong institutional interest.
Solana's daily transactions surpasses some of the top blockchains like Ethereum.
If Solana bulls hold the price above $150, the next rally to $200 can come soon.

Ethereum’s Layer-1 competitor Solana has continued to show strength gaining an additional 10% in the last 24 hours. As of press time, the Solana (SOL) price is up 7.5% trading at $151 with a market cap of $66.6 billion. If the bulls manage to maintain a position above $150, the SOL price can rally further to $200.

Grayscale Solana Trust Premium Shoots 800%

Grayscale Solana Trust (GSOL) made headlines as its secondary market price soared to an unprecedented high of $540 on March 8, with the premium rate hitting an astounding 873%, according to data from Grayscale.
However, by March 11, the price of GSOL experienced a decline, settling at $317 at the closing bell. Despite the decrease in price, the premium rate remained remarkably high, standing at 472%. This volatility in GSOL’s secondary market price has drawn significant attention from investors and analysts alike.
This shows that there’s a strong institutional demand for Solana. As reported by CoinGape, the Solana investment products registered net inflows of $24 million last week.

SOL New Addresses Rise

Solana (SOL) is witnessing a remarkable surge in new addresses, reaching an all-time high. Data from The Block’s Data Dashboard reveals that the daily count of new addresses on the Solana network, based on a seven-day moving average, has surpassed 691,000. This surge in adoption is being interpreted as a strong indication of genuine user engagement on the network.
The increase in new addresses suggests more than just speculative interest, indicating that Solana is poised to achieve new all-time highs. Solana is already surpassing other major blockchains in terms of daily transactions, including Ethereum, Arbitrum, Optimism, BNB Chain, Tron, and Avalanche combined.
Additionally, Solana has experienced a significant surge in trading volumes on decentralized exchanges (DEXs), consistently exceeding $2 billion daily since the beginning of March. This surge in activity underscores the growing momentum and robust ecosystem surrounding the Solana blockchain.
The rise to $150 can be credited to the prevailing positive sentiment within the market. The continuous oscillation within the rectangular pattern presents investors with an opportunity to re-acquire SOL for potential long-term gains. Surpassing the resistance at $150 could trigger a significant rally fueled by FOMO, with investors setting their sights on the $200 mark.

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Bitcoin ETFs Soar To $55 Billion, Double Volume In Just 2 Months

Bitcoin ETFs Soar to $55 Billion, Double Volume in Just 2 Months

Spot Bitcoin ETFs see an astonishing $55 billion growth in early 2024, with Fidelity and BlackRock leading the charge.
By Maxwell Mutuma8 hours ago

STORY HIGHLIGHTS

Bitcoin ETFs launched in January 2024 have amassed $55 billion in assets, doubling the expected trading volume.
Eric Balchunas of Bloomberg labels the Bitcoin ETFs' success as “simply absurd,” highlighting the standout performance of Fidelity's FBTC and BlackRock's IBIT.
The Bitcoin Spot ETF segment in the U.S. exceeded $50 billion in total liquidity volume in the past week.

The recent launch of spot Bitcoin ETFs in early January 2024 marked a significant milestone for the cryptocurrency industry. In an astonishing turn of events, these ETFs have amassed $55 billion in assets. Additionally, they registered a trading volume 100% larger than anticipated. This unprecedented success has drawn the attention of industry analysts and investors alike.
Eric Balchunas, a Senior ETF Analyst at Bloomberg, described the success of Bitcoin ETFs as “simply absurd.” The rapid accumulation of assets and the surge in trading volume surpassed expectations. Even if these were the year-end figures for 2024, Balchunas admitted, the success would be undeniable. Among the standout performers in this burgeoning sector are Fidelity’s FBTC and BlackRock’s IBIT products. These have notably outpaced their competitors in terms of performance.

Bitcoin ETFs Set New Records in Growth

The impressive performance of Bitcoin ETFs has had a substantial impact on the market. Just a week prior to this report, the BTC Spot ETF segment in the U.S. surpassed $50 billion in total liquidity volume. Products from Grayscale, Fidelity, and BlackRock are responsible for a significant portion of this volume. The rapid growth and acceptance of Bitcoin ETFs reflect a growing confidence in cryptocurrency as a mainstream investment option.
Balchunas highlighted the “absurd” success of these financial instruments. His remarks on social media underscore the widespread surprise at the swift adoption and performance of Bitcoin ETFs. The market’s response has been overwhelmingly positive, setting a precedent for future cryptocurrency-related financial products.

Hong Kong May Pioneer Ethereum ETF Trading

As Bitcoin ETFs continue to captivate the market, attention is turning towards the potential approval of Ethereum ETFs in the United States. However, the path to launch spot ETH ETFs faces challenges. Political tensions and the unclear security status of Ethereum are significant hurdles. Amidst these discussions, Hong Kong emerges as a potential frontrunner in approving spot Ether ETF trading.
Reports by Coingape suggest that Hong Kong is actively discussing opportunities for Ethereum ETFs. If successful, Hong Kong could set a precedent for other markets. This development is keenly watched by industry analysts and investors, signaling a possible expansion of cryptocurrency ETFs beyond Bitcoin.
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