Latest developments in the digital currency market
Ethereum has outpaced Bitcoin in recent gains. According to CoinMarketCap data, the second-largest cryptocurrency has risen about 3% in the past 24 hours and nearly 30% over the past week. Ethereum recently reached a seven-month high, climbing above $2,540 for the first time since late January. Bitcoin, meanwhile, has gained 22% over the past week and is trading at around $77,700 on August 24. According to the forecast made by Standard Chartered in May, Ethereum could reach $4,000 in 2026 and $40,000 by the end of the decade, citing the network’s central role in the expanding decentralized finance industry. Bridgewater Associates founder Ray Dalio believes investors should cautiously increase their exposure to Bitcoin and gold amid mounting risks associated with U.S. government debt. The billionaire investor pointed to recent warning signs in the U.S. Treasury market. In Dalio’s view, the United States could face a sovereign debt crisis in approximately three years. Investors shifted their attention to anything but Bitcoin last week, helping the altcoin market stage one of its strongest rallies of the year and add roughly $215 billion in value. The Total2 index, which tracks the cryptocurrency market excluding Bitcoin, surged by more than 24% in three days, climbing back above the $1 trillion mark. The rally followed Donald Trump’s meeting with representatives of the cryptocurrency industry on August 19.AML analyzer | Mini App | X.com | New website
