Ether at $2,614, XRP and Solana fall on eve of Evernorth’s Nasdaq debut

Altcoins turned red this Wednesday, October 7 in the morning. Ether lost 3.3% in twenty-four hours and traded at $2,614. Bitcoin briefly fell below $84,000.

XRP, Solana and BNB are losing around 2%, according to CoinGecko data. However, again on Monday, our altcoins update from October 5 showed them stable. Dogecoin and Cardano recorded the biggest declines in the top 20.

Ether under $2,700: Bitmine at 4.9% of supply, Glamsterdam on Sepolia

Ether poorly digested the cascade of liquidations of the night. Thus, more than $400 million in long positions jumped across the entire crypto market. Not enough to erase your quarter though. Ether gained 70% in Q3, compared to 42% for bitcoin, as detailed in our October 5 update. But liquidity remains thin.

For its part, Bitmine remains the largest treasury in ETH. The company announced on Monday that it held 6,016,414 ETH, or 4.9% of the supply. She is therefore reaching the goal, 99% of her “Alchemy of 5%” objective. On the technical side, developers activated the Glamsterdam upgrade on Tuesday, October 6 on Sepolia, a test network.

XRP: last session before Evernorth debuts on Nasdaq

Evernorth must complete its merger with Armada Acquisition Corp today. II, subject to the last conditions. The combined company will then debut on Nasdaq on Thursday, October 8, under the ticker XRPN, according to Cointelegraph. Its treasury counts around 473 million XRP. That’s almost $700 million at current prices.

Like Ether, the token fell this morning: it lost 2.6%, to $1.47. However, it had held $1.50 on Monday and Tuesday. The Armada share, the listed shell which already bears the ticker XRPN, on the other hand, soared. It rose approximately 273% in one week, from $10.58 to $39.42 at the close on Friday, October 2.

Solana limits the damage, with a decline of 1.5% to 118 dollars. BNB for its part lost 1.9%, to $767.

Dogecoin and Cardano, biggest drops in the top 20

The most marked declines in the top 20 come from elsewhere. Dogecoin drops 5.3% and falls to $0.09. Cardano lost 5.7%, to $0.256, much more than Ether. However, the ADA remains up 16% over one month. Stellar finally lost almost 5%, and 7% over the week.

Zcash: the Winklevoss ETF and its $100 million in non-binding interest

Zcash did not hold up its rebound from Tuesday. ZEC returns to around $1,320, down 1.5% on one day and 6% on the week. Monero is holding up better, at $558.

The Winklevoss twins, however, filed an S-1 with the SEC on Tuesday. Their ETF, called WINK, would hold ZEC directly. Gemini, a company affiliated with the twins, would be the custodian. In this same document, Winklevoss Capital Fund indicates non-binding interest to purchase up to $100 million in shares.

Finally, Litecoin fell 3% to $67.50. It nevertheless maintains an increase of almost 25% over one month.

The Fed minutes drop tonight at 8 p.m. Evernorth then debuts on Nasdaq on Thursday, October 8.