BTC, ETH, BONE, and DYDX Prices Surge Ahead of Key Fed Talk

As the crypto industry awaits Federal Reserve Chair Jerome Powell's imminent talk on the economic landscape at the Jackson Hole meeting, we witness significant movements in cryptocurrency prices. Notably, Bitcoin (BTC), Ethereum (ETH), Bone ShibaSwap (BONE), and dYdX (DYDX) are on an upward trajectory.

Timeline of Bone-shibaswap, Bitcoin, Dydx, Ethereum

In what comes as a major surprise to the Shiba Inu (SHIB) ecosystem, Bone Shiba Swap (BONE) has picked a dramatic uptrend after soaring as high as 15.85% at the time of writing to $1.38. The current outlook of the BONE token has helped it pare off some of its losses of the past week with 8.9% growth.

Binance is witnessing a significant withdrawal of Bitcoins with the crypto world unstable. Amid whispers surrounding the platform, investors pulled over 5,000 BTC in just one minute, underlining the sheer magnitude of the issue.

A special, Ethereum-native version of popular mobile phone Google Pixel 7a can make the largest smart contracts platform even more decentralized, transparent and censorship resistant. A few devices are still available in an NFT-based preorder campaign, ethOS team representatives say.

After a prolonged period of tranquil price activity near the critical level of $1.8K, there has been a significant and rapid downturn at ETH following a notable rejection. This sudden cascade has caused the price to drop below the 100-day and 200-day moving averages (MAs), indicating a bearish signal for the ETH market.

Tom Lee, the Head of Research at FS Insight, has shed light on the growing trust in Bitcoin (CRYPTO: BTC) among traditional financial players, emphasizing that the entire financial system is fundamentally "anchored by trust," including currencies, stocks, and even credit derivatives. This trust, combined with the network value, is increasingly explaining Bitcoin's stability and potential for growth, he told CNBC on Thursday.

In the fast-paced world of cryptocurrencies, Bitcoin's halvings have emerged as the secret sauce that keeps investors on their toes. A recent revelation in Pantera's newsletter has shed light on how these halvings are causing waves by curbing the creation of new Bitcoins.

Pantera Capital, a blockchain investment firm, has boldly predicted that Bitcoin's price could reach $135,000 after its next halving event. As per the current status, the recent week was tough for Bitcoin, as its price dropped to $26,000, causing significant liquidations in the crypto market.

In a bold stance against the nefarious practice of Maximal Extractable Value (MEV), the pioneering decentralized perpetual exchange, dYdX, is stepping up its game as it prepares to migrate to a Cosmos-based appchain. On August 21st, the dYdX Foundation unveiled a comprehensive list of preferred practices tailored for dYdX Chain validators and stakers.

Tom Lee, the Head of Research at FS Insight, predicted the potential growth trajectory of Bitcoin (CRYPTO: BTC) while speaking on CNBC Thursday, stating that the cryptocurrency's network value and inherent scarcity could push its price beyond the $200,000 mark. Lee's comments come in the wake of predictions by other industry experts, including Ark Invest CEO Cathie Wood, who also foresees a significant price surge for Bitcoin in the coming years.

A Chainalysis report says that the number of Ethereum (ETH) wallets accounts for the majority of crypto participants as of July 2023. While the number of Bitcoin (BTC) wallets grew to 50 million, ETH balance-holding addresses have risen to 79 million.