Bitcoin, Ethereum fall slightly, XRP is flat on Monday as dormant Ether whale returns to action

• Bitcoin, Ethereum trade sideways on Monday, hovering around $58,000 and $2,300 respectively.
• XRP is trading in a tight range around $0.5700 at the start of the US session.
• An idle Ethereum whale transferred Ether received in 2016, likely to increase selling pressure on the altcoin.

Bitcoin, Ethereum and XRP Updates

• Bitcoin is trading at around $58,500 at the time of writing. BTC has corrected slightly since the weekend after failing to hold the key physiological level of $60,000. Traders are likely to have changed their approach to risk assets ahead of major US macroeconomic developments this week.
• Ethereum is trading at around $2,300 on Monday. At the time of writing, the second largest cryptocurrency by market capitalization is shedding 0.62% of its value on the day. ETH may face increasing selling pressure if dormant whales and Ether holders shift their holdings to crypto exchanges.
• XRP is trading in a tight range around $0.5700 at the start of the US session on Monday.

Chart of the Day: Notcoin (NOT)

NOT/USDT daily chart

Notcoin (NOT) is in a downtrend. At the time of writing, the token has erased 4.76% of its value for the day and is likely to extend its decline further. There is a fair value gap (FVG) between $0.00554 and $0.00750 on the daily NOT/USDT chart, which provides support for the NOT price.

FVG’s midpoint is $0.00652. There is a high probability that NU will drop to this level to collect liquidity before attempting a recovery. The Moving Average Convergence Divergence (MACD) indicator is flashing green histogram bars above the neutral line, supporting an underlying positive momentum in the NOT price trend.

NOT may attempt a recovery to $0.00847, the August 23 high.

Market updates

• Binance launched Neiro (NEIRO), Turbo (TURBO) and Baby Doge Coin (100000BABYDOGE) at 10:00 GMT on Monday and opens spot trading pairs with USD Tether (USDT). Neiro (NEIRO) is a meme coin on the Ethereum chain, Turbo is a meme coin created by AI for humans, and Baby Doge is a meme on the Binance smart chain (BSC), according to an official announcement.
• An Ethereum whale that received 16,636 Ether from ShapeShift at $5.23 per ETH in February 2016 sold 350 tokens from holdings at an average price of $2,350, according to Etherscan data.
• The UK government introduced a bill to Parliament, focusing on the legal status of cryptocurrencies, non-fungible tokens (NFTs) and tokenized real-world assets (RWAs), on 11 September.

Industry updates

• USD Coin (USDC) issuer Circle is partnering with Sony to integrate the stablecoin as a primary token on Soneium. The partnership is geared toward improving security, user-friendly Web3 experiences, and creators.

• The USDC stablecoin issuer is moving its headquarters from Boston to New York as the integration of blockchain technology into financial services continues at a rapid pace.
• Binance, one of the largest cryptocurrency exchanges, has warned users about a worldwide malicious software called “Clipper malware” that intercepts data stored on keyboards, such as cryptocurrency addresses, in a blog post.