Ether Outperforms Bitcoin as Token 2049 Concludes, Overall Crypto Market Stays Flat
Ether (ETH) gained 2.6%, trading above $2,600, while Bitcoin (BTC) rose 1.2%, trading above $63,700. The CoinDesk 20 index remained flat, increasing less than 1%. In the last 12 hours, $64.23 million in short positions and $54.42 million in long positions were liquidated. BTC increased 9.5% and ETH over 16% in the past week following a 50 basis points interest rate cut. Solana (SOL) remained flat above $145 after the Breakpoint conference, where attendees noted significant announcements. Pendle, a project linked to Arthur Hayes' fund Maelstrom, fell over 6.5% after a position reduction for liquidity purposes, despite being up over 24% weekly. MOTHER, a memecoin endorsed by Iggy Azalea, rose 4.5% as it announced plans for a companion casino, though its trading is limited to decentralized exchanges, complicating potential listings on centralized platforms.
