Over a 24-hour period, Avalanche (AVAX) led the Top 100.The whole cryptocurrency market capitalization increased by 1.64% to $1,073 billion on Friday, marking a successful session for the industry.
The Friday boost came from the Stars Arena opening, as AVAX increased by 10.76% for the week. On the Avalanche blockchain, the SocialFi platform Stars Arena was introduced.
Since its September premiere, Stars Arena has garnered a lot of interest and seen an exponential increase in transactions. Transactions increased from 67.75k on October 2 to 248.87k on October 4 before declining again, according to DappRadar.
Awards for Ripple, Avalanche Rally with Stars Arena,Awards for Ripple, Avalanche Rally with Stars Arena
The amount of interest was also evident in unique active wallets (UAW), which increased from 2.73k on October 2 to a peak of 10.39k on October 4.Friday saw a 5.04% increase in Altcoin Avalanche (AVAX), which closed the session at $10.66.
Key insights:
- Stars Arena debut ignites a frenzy as Avalanche (AVAX) dominates the top 100.
- Ripple had an amazing week, taking home two major awards.
- The SEC v. Coinbase case and the development of a crypto-spot ETF market are the short-term priorities.
DeFiLlama’s statistics show that inflows kept rising. From October 2 to October 7, the total amount locked increased from $196.19k to $2.78 million.
Ethereum Gas Fees at Yearly Lows
Payments Association Award is Won by Ripple
The top companies in the payments business were honoured on October 5 by the Pay360Awards. Notably, Ripple emerged victorious in the financial services category for digital currency and assets.
For Ripple, which recently had a New York City Proper Party to commemorate the Programmatic Sales verdict, it was a successful week.
Additionally, Ripple was included among the top 100 fintech startups for 2023 by CB Insights. The Ripple team announced the success on X, formerly known as Twitter, saying,
Bitcoin Examination
The fact that BTC is still above the 200-day and 50-day EMAs confirms positive price indications. Notably, a bullish trend was indicated by the 50-day EMA pulling further away from the 200-day EMA.
A move towards the $28,593 Monday high would be supported by a BTC break above the resistance level of $28,187.
A move to the $26,755 support level would be supported, though, by a fall through the EMAs.
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The development of a BTC-spot ETF market and news pertaining to the SEC v. Coinbase (COIN) and Ripple cases continue to be major topics.
Ethereum Analysis
Ethereum Analysis Bearish price indications were sent by ETH as it continued to trade below the 200-day and 50-day EMAs.
A push at the 200-day EMA and the $1,746 resistance level would be supported if ETH were to break through the 50-day EMA. Buyer interest will probably be influenced by news about ETH-spot ETFs and inflows into the ETH-Futures ETFs.
However, $1,600 would come into play if there was a break below the $1,626 support level. The bulls would have a run at the $1,502 support level if ETH dropped below $1,600.
Before going into overbought area, ETH should rebound to $1,700, according to the 14-Daily RSI reading of 50.45.
Awards for Ripple, Avalanche Rally with Stars Arena,Awards for Ripple, Avalanche Rally with Stars Arena,Awards for Ripple, Avalanche Rally with Stars Arena