Global #Ethereum

In the past 24 hours, the cryptocurrency market has experienced a notable uptick, with its total valuation rising by 2.49%, from $2.09 trillion to $2.14 trillion. This positive shift comes amidst a decrease in trading volume, which has dropped by 23.72% to $63.94 billion.

Vitalik Buterin stands as a towering figure in the cryptocurrency world, often referred to as a "crypto aristocrat" for his elite status and groundbreaking contributions. As the co-founder of Ethereum, Buterin has revolutionized the way people think about decentralized applications and blockchain technology.

Ethereum (ETH) has seen a dramatic drop in gas fees, reaching a multi-year low of 0.82 Gwei as of August 11. This significant decline in transaction fees highlights a period of reduced activity on the Ethereum network, coinciding with a broader downturn in the cryptocurrency’s price.

In early trading hours, Bitcoin (BTC) surged above $60,000 before experiencing volatile swings within the $58,500 to $59,700 range. This fluctuation coincided with Marathon Digital Holdings Inc.'s announcement of a $250 million debt offering to acquire more Bitcoin, which significantly impacted market sentiment.

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) each encountered significant resistance levels over the weekend, leading to declines that suggest potential continuation of downward trends in the coming days. Here’s a closer look at the technical analysis and current market conditions for these major cryptocurrencies.

Earlier this week, the Bitcoin market faced a significant downturn, attributed primarily to growing concerns about the US economic outlook and increased volatility in the broader financial markets. Ethereum, in particular, lagged behind, influenced by heightened futures market activity and substantial selling pressure from large holders.