> ## Content Index > Fetch the complete content index at: https://www.themarketsunplugged.com/llms.txt > Use this file to discover other available public pages before exploring further. # Crypto Daily Alpha - September 10, 2024 "Bitcoin Surges, Saudi Blockchain Hub, and Election Impact: Key Crypto Insights" - URL: https://www.themarketsunplugged.com/crypto-daily-alpha-september-10-2024/ - Published: 2024-09-10T20:37:34.000Z - Updated: 2024-09-11T10:49:34.000Z - Author: Doc - Tags: Crypto Alpha News --- [](https://www.themarketsunplugged.com/author/doc/)Doc here. Today, I’m bringing you the latest project updates, market analysis, and key crypto insights to keep you informed. Let’s dive into it. --- ### ### Project Updates **Saudi Arabia Backs New Blockchain Hub: Protocol Village for Developers** According to CoinDesk, Saudi Arabia is making a significant investment in blockchain technology by backing the newly launched **Protocol Village**, an open-source initiative aimed at fostering collaboration among blockchain developers. The project provides resources for building decentralised applications and enhancing blockchain infrastructure. With Saudi Arabia's support, the kingdom aims to position itself as a leading tech innovation hub in the Middle East. This project is expected to attract global talent and accelerate the development of cutting-edge blockchain solutions. --- ### Crypto Market Dynamics **Bitcoin Surges to $57K as ETFs Show Signs of Recovery** According to CoinDesk, [](https://www.themarketsunplugged.com/tag/bitcoin/)Bitcoin's price surged to **$57,000** as U.S. [](https://www.themarketsunplugged.com/the-bitcoin-etf-saga-major-players-and-shifting-sands/)Bitcoin Exchange-Traded Funds (ETFs) showed signs of recovery after weeks of outflows. The rebound in ETF performance could signal renewed institutional interest, helping Bitcoin gain momentum. Analysts suggest this may be the beginning of a broader crypto market recovery, especially if institutional players return to the space. Traders are now eyeing resistance levels above $60K, with bullish sentiment creeping back into the market. --- ### ### News: Regulation Updates **Congressional Elections Could Determine Crypto's Future in the U.S.** In a CoinTelegraph analysis, the upcoming U.S. congressional elections are seen as a pivotal moment for the crypto industry's future. Several key bills on crypto regulation are pending, and the election results could shape whether the U.S. adopts a pro-crypto regulatory stance or leans towards stricter controls. This election will likely have far-reaching implications on everything from ETF approvals to tax policies, making it crucial for the crypto community to closely monitor the results. --- ### ### Political and Crypto Convergence **Crypto Takes Centre Stage in US Elections for the First Time** For the first time, [](https://www.themarketsunplugged.com/what-are-cryptocurrencies-and-how-do-they-work/)cryptocurrency has become a [](https://www.themarketsunplugged.com/the-role-of-crypto-in-the-2024-us-election-a-new-political-battleground/)significant issue in U.S. presidential elections, according to CoinTelegraph. Candidates are now discussing digital asset regulations, stablecoins, and taxation, making it clear that crypto has transitioned from niche to mainstream in shaping U.S. economic policies. The outcome of the elections could have a lasting impact on how crypto is regulated and adopted in the country, with pro-crypto candidates potentially steering policies in favour of the industry. ![a view of the capitol building from across the street](https://images.unsplash.com/photo-1650381046099-f78661c30626?crop=entropy&cs=tinysrgb&fit=max&fm=jpg&ixid=M3wxMTc3M3wwfDF8c2VhcmNofDEzfHxjYXBpdG9sJTIwaGlsbHxlbnwwfHx8fDE3MjU5ODQ3NDF8MA&ixlib=rb-4.0.3&q=80&w=2000) Photo by [noelle](https://unsplash.com/@noellejlee?ref=themarketsunplugged.com) / [Unsplash](https://unsplash.com/?utm%5Fsource=ghost&utm%5Fmedium=referral&utm%5Fcampaign=api-credit) --- ### ### Security and Scams **Over 10% of Financial Fraud Now Crypto-Related, FBI Report Reveals** As reported by CryptoBriefing, the FBI has highlighted that over 10% of financial fraud cases in the U.S. are now crypto-related, with scammers increasingly targeting digital asset investors. This underscores the need for enhanced security measures, regulatory scrutiny, and public awareness in the crypto space. The rise in crypto scams has prompted calls for more comprehensive fraud detection and prevention strategies within the industry to protect users. --- ### ### Airdrop Opportunities and Community Engagement No major airdrop announcements have surfaced for today. Keep an eye on platforms like LayerZero and ZkSync, which have hinted at upcoming community engagement events in the coming weeks. --- ### ### Token Unlocks Several token unlocks are happening today that may lead to market fluctuations: - **Pendle ($PENDLE)**: $698.27K worth of tokens unlocking (0.14% of market cap). Minimal price impact expected. - [](https://www.themarketsunplugged.com/is-moonbeams-glmr-token-the-ultimate-crypto-gem-of-cross-chain-smart-contract-platforms/)**Moonbeam ($GLMR)**: $484.83K unlocking (0.34% of market cap). Monitor for slight price movements. - **Aptos ($APT)**: $70.23M unlocking (2.32% of market cap). Expect potential volatility. - **Sipher ($SIPHER)**: $2.83M unlocking (25.2% of market cap). Significant price fluctuations expected. - **Worldcoin ($WLD)**: $7.32M unlocking (1.19% of market cap). Potential price fluctuations expected. --- ### ### Bitcoin and Crypto Market Update **Bitcoin Shows Potential for Rebound in September** > Start the month bearish but end it bullish...[#crypto](https://twitter.com/hashtag/crypto?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=themarketsunplugged.com) [#btc](https://twitter.com/hashtag/btc?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=themarketsunplugged.com) [https://t.co/u0Yi3YSLCx](https://t.co/u0Yi3YSLCx?ref=themarketsunplugged.com) [pic.twitter.com/VJaTCwuomH](https://t.co/VJaTCwuomH?ref=themarketsunplugged.com) > > — 𝐂𝐫𝐲𝐩𝐭𝐨 𝐖𝐞𝐚𝐥𝐭𝐡 (@AskCryptoWealth) [September 9, 2024](https://twitter.com/AskCryptoWealth/status/1833224196798730625?ref%5Fsrc=twsrc%5Etfw&ref=themarketsunplugged.com) A tweet by [](https://www.themarketsunplugged.com/author/oz/)Oz highlighted, "Start the month bearish but end it bullish," pointing to Bitcoin's recent price action that started on a downward trend but now shows signs of recovery. [](https://www.themarketsunplugged.com/tag/bitcoin/)Bitcoin bounced off the **$54,000** support and has gained momentum, with resistance levels at **$59,461** and **$66,342** still to overcome. The recent candlestick formations suggest a potential reversal from bearish sentiment to bullish, sparking optimism among traders. However, macroeconomic factors continue to influence volatility, and caution is advised. --- ### ### On-Chain Analysis: Bitcoin and Ethereum **Bitcoin On-Chain Metrics** According to The Block, Bitcoin's on-chain data shows stable transactional volume at **$2.94 billion** daily. Active addresses remain high at **989,000**, reflecting robust network participation. Miner revenues are increasing slightly with recent price rises, but challenges persist with rising energy costs and higher hash rates. These metrics indicate a steady state for Bitcoin, with consistent network engagement across various user categories. **Ethereum On-Chain Metrics** [](https://www.themarketsunplugged.com/what-is-ethereum-2-0-and-how-will-it-change-the-blockchain-landscape/)Ethereum's on-chain activity, as reported by The Block, is also strong, with **$2.6 billion** daily in transaction volume. However, network congestion has led to rising gas fees, impacting user activity. Despite these challenges, Ethereum’s active addresses remain steady at **525,000** daily, driven by its dominance in DeFi and NFTs. The increase in fees, despite Layer 2 solutions, suggests that network scalability remains a key challenge. --- ### Market Sentiment **Bitcoin Fear and Greed Index Sits at 33: Fear** [](https://www.themarketsunplugged.com/the-bitcoin-and-crypto-fear-and-greed-index-a-beginners-guide/)Bitcoin's Fear and Greed Index is currently at **33**, signalling market "Fear," up from yesterday’s **26**. This suggests that despite recent price recovery, market participants remain cautious. The shift from extreme fear to moderate fear indicates that while sentiment is improving, uncertainties around macroeconomic conditions and potential regulatory actions are keeping traders on edge. The current price stands at **$57,295**, as market participants await further clarity from macro data and geopolitical developments. > Bitcoin Fear and Greed Index is 33 - Fear > Current price: $57,295 [pic.twitter.com/Tg9DGTTWTs](https://t.co/Tg9DGTTWTs?ref=themarketsunplugged.com) > > — Bitcoin Fear and Greed Index (@BitcoinFear) [September 10, 2024](https://twitter.com/BitcoinFear/status/1833483080436224459?ref%5Fsrc=twsrc%5Etfw&ref=themarketsunplugged.com) --- That’s it for today’s edition of **Crypto Daily Alpha**. Stay tuned for tomorrow's updates. Always do your own research and invest wisely! --- ### ### Support Our Work Click the support button at the bottom of the page. If you appreciate the content we provide and want to see more high-quality crypto insights, your support would mean the world to us. Your generosity helps keep our community informed and engaged—thank you! [](https://www.themarketsunplugged.com/author/doc/)Doc here. Today, I’m bringing you the latest project updates, market analysis, and key crypto insights to keep you informed. Let’s dive into it. --- ### ### Project Updates **Saudi Arabia Backs New Blockchain Hub: Protocol Village for Developers** According to CoinDesk, Saudi Arabia is making a significant investment in blockchain technology by backing the newly launched **Protocol Village**, an open-source initiative aimed at fostering collaboration among blockchain developers. The project provides resources for building decentralised applications and enhancing blockchain infrastructure. With Saudi Arabia's support, the kingdom aims to position itself as a leading tech innovation hub in the Middle East. This project is expected to attract global talent and accelerate the development of cutting-edge blockchain solutions. --- ### Crypto Market Dynamics **Bitcoin Surges to $57K as ETFs Show Signs of Recovery** According to CoinDesk, [](https://www.themarketsunplugged.com/tag/bitcoin/)Bitcoin's price surged to **$57,000** as U.S. [](https://www.themarketsunplugged.com/the-bitcoin-etf-saga-major-players-and-shifting-sands/)Bitcoin Exchange-Traded Funds (ETFs) showed signs of recovery after weeks of outflows. The rebound in ETF performance could signal renewed institutional interest, helping Bitcoin gain momentum. Analysts suggest this may be the beginning of a broader crypto market recovery, especially if institutional players return to the space. Traders are now eyeing resistance levels above $60K, with bullish sentiment creeping back into the market. --- ### ### News: Regulation Updates **Congressional Elections Could Determine Crypto's Future in the U.S.** In a CoinTelegraph analysis, the upcoming U.S. congressional elections are seen as a pivotal moment for the crypto industry's future. Several key bills on crypto regulation are pending, and the election results could shape whether the U.S. adopts a pro-crypto regulatory stance or leans towards stricter controls. This election will likely have far-reaching implications on everything from ETF approvals to tax policies, making it crucial for the crypto community to closely monitor the results. --- ### ### Political and Crypto Convergence **Crypto Takes Centre Stage in US Elections for the First Time** For the first time, [](https://www.themarketsunplugged.com/what-are-cryptocurrencies-and-how-do-they-work/)cryptocurrency has become a [](https://www.themarketsunplugged.com/the-role-of-crypto-in-the-2024-us-election-a-new-political-battleground/)significant issue in U.S. presidential elections, according to CoinTelegraph. Candidates are now discussing digital asset regulations, stablecoins, and taxation, making it clear that crypto has transitioned from niche to mainstream in shaping U.S. economic policies. The outcome of the elections could have a lasting impact on how crypto is regulated and adopted in the country, with pro-crypto candidates potentially steering policies in favour of the industry. ![a view of the capitol building from across the street](https://images.unsplash.com/photo-1650381046099-f78661c30626?crop=entropy&cs=tinysrgb&fit=max&fm=jpg&ixid=M3wxMTc3M3wwfDF8c2VhcmNofDEzfHxjYXBpdG9sJTIwaGlsbHxlbnwwfHx8fDE3MjU5ODQ3NDF8MA&ixlib=rb-4.0.3&q=80&w=2000) Photo by [noelle](https://unsplash.com/@noellejlee?ref=themarketsunplugged.com) / [Unsplash](https://unsplash.com/?utm%5Fsource=ghost&utm%5Fmedium=referral&utm%5Fcampaign=api-credit) --- ### ### Security and Scams **Over 10% of Financial Fraud Now Crypto-Related, FBI Report Reveals** As reported by CryptoBriefing, the FBI has highlighted that over 10% of financial fraud cases in the U.S. are now crypto-related, with scammers increasingly targeting digital asset investors. This underscores the need for enhanced security measures, regulatory scrutiny, and public awareness in the crypto space. The rise in crypto scams has prompted calls for more comprehensive fraud detection and prevention strategies within the industry to protect users. --- ### ### Airdrop Opportunities and Community Engagement No major airdrop announcements have surfaced for today. Keep an eye on platforms like LayerZero and ZkSync, which have hinted at upcoming community engagement events in the coming weeks. --- ### ### Token Unlocks Several token unlocks are happening today that may lead to market fluctuations: - **Pendle ($PENDLE)**: $698.27K worth of tokens unlocking (0.14% of market cap). Minimal price impact expected. - [](https://www.themarketsunplugged.com/is-moonbeams-glmr-token-the-ultimate-crypto-gem-of-cross-chain-smart-contract-platforms/)**Moonbeam ($GLMR)**: $484.83K unlocking (0.34% of market cap). Monitor for slight price movements. - **Aptos ($APT)**: $70.23M unlocking (2.32% of market cap). Expect potential volatility. - **Sipher ($SIPHER)**: $2.83M unlocking (25.2% of market cap). Significant price fluctuations expected. - **Worldcoin ($WLD)**: $7.32M unlocking (1.19% of market cap). Potential price fluctuations expected. --- ### ### Bitcoin and Crypto Market Update **Bitcoin Shows Potential for Rebound in September** > Start the month bearish but end it bullish...[#crypto](https://twitter.com/hashtag/crypto?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=themarketsunplugged.com) [#btc](https://twitter.com/hashtag/btc?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=themarketsunplugged.com) [https://t.co/u0Yi3YSLCx](https://t.co/u0Yi3YSLCx?ref=themarketsunplugged.com) [pic.twitter.com/VJaTCwuomH](https://t.co/VJaTCwuomH?ref=themarketsunplugged.com) > > — 𝐂𝐫𝐲𝐩𝐭𝐨 𝐖𝐞𝐚𝐥𝐭𝐡 (@AskCryptoWealth) [September 9, 2024](https://twitter.com/AskCryptoWealth/status/1833224196798730625?ref%5Fsrc=twsrc%5Etfw&ref=themarketsunplugged.com) A tweet by [](https://www.themarketsunplugged.com/author/oz/)Oz highlighted, "Start the month bearish but end it bullish," pointing to Bitcoin's recent price action that started on a downward trend but now shows signs of recovery. [](https://www.themarketsunplugged.com/tag/bitcoin/)Bitcoin bounced off the **$54,000** support and has gained momentum, with resistance levels at **$59,461** and **$66,342** still to overcome. The recent candlestick formations suggest a potential reversal from bearish sentiment to bullish, sparking optimism among traders. However, macroeconomic factors continue to influence volatility, and caution is advised. --- ### ### On-Chain Analysis: Bitcoin and Ethereum **Bitcoin On-Chain Metrics** According to The Block, Bitcoin's on-chain data shows stable transactional volume at **$2.94 billion** daily. Active addresses remain high at **989,000**, reflecting robust network participation. Miner revenues are increasing slightly with recent price rises, but challenges persist with rising energy costs and higher hash rates. These metrics indicate a steady state for Bitcoin, with consistent network engagement across various user categories. **Ethereum On-Chain Metrics** [](https://www.themarketsunplugged.com/what-is-ethereum-2-0-and-how-will-it-change-the-blockchain-landscape/)Ethereum's on-chain activity, as reported by The Block, is also strong, with **$2.6 billion** daily in transaction volume. However, network congestion has led to rising gas fees, impacting user activity. Despite these challenges, Ethereum’s active addresses remain steady at **525,000** daily, driven by its dominance in DeFi and NFTs. The increase in fees, despite Layer 2 solutions, suggests that network scalability remains a key challenge. --- ### Market Sentiment **Bitcoin Fear and Greed Index Sits at 33: Fear** [](https://www.themarketsunplugged.com/the-bitcoin-and-crypto-fear-and-greed-index-a-beginners-guide/)Bitcoin's Fear and Greed Index is currently at **33**, signalling market "Fear," up from yesterday’s **26**. This suggests that despite recent price recovery, market participants remain cautious. The shift from extreme fear to moderate fear indicates that while sentiment is improving, uncertainties around macroeconomic conditions and potential regulatory actions are keeping traders on edge. The current price stands at **$57,295**, as market participants await further clarity from macro data and geopolitical developments. > Bitcoin Fear and Greed Index is 33 - Fear > Current price: $57,295 [pic.twitter.com/Tg9DGTTWTs](https://t.co/Tg9DGTTWTs?ref=themarketsunplugged.com) > > — Bitcoin Fear and Greed Index (@BitcoinFear) [September 10, 2024](https://twitter.com/BitcoinFear/status/1833483080436224459?ref%5Fsrc=twsrc%5Etfw&ref=themarketsunplugged.com) --- That’s it for today’s edition of **Crypto Daily Alpha**. Stay tuned for tomorrow's updates. Always do your own research and invest wisely! --- ### ### Support Our Work Click the support button at the bottom of the page. If you appreciate the content we provide and want to see more high-quality crypto insights, your support would mean the world to us. Your generosity helps keep our community informed and engaged—thank you! [](https://www.themarketsunplugged.com/author/doc/)Doc here. Today, I’m bringing you the latest project updates, market analysis, and key crypto insights to keep you informed. Let’s dive into it. --- ### ### Project Updates **Saudi Arabia Backs New Blockchain Hub: Protocol Village for Developers** According to CoinDesk, Saudi Arabia is making a significant investment in blockchain technology by backing the newly launched **Protocol Village**, an open-source initiative aimed at fostering collaboration among blockchain developers. The project provides resources for building decentralised applications and enhancing blockchain infrastructure. With Saudi Arabia's support, the kingdom aims to position itself as a leading tech innovation hub in the Middle East. This project is expected to attract global talent and accelerate the development of cutting-edge blockchain solutions. --- ### Crypto Market Dynamics **Bitcoin Surges to $57K as ETFs Show Signs of Recovery** According to CoinDesk, [](https://www.themarketsunplugged.com/tag/bitcoin/)Bitcoin's price surged to **$57,000** as U.S. [](https://www.themarketsunplugged.com/the-bitcoin-etf-saga-major-players-and-shifting-sands/)Bitcoin Exchange-Traded Funds (ETFs) showed signs of recovery after weeks of outflows. The rebound in ETF performance could signal renewed institutional interest, helping Bitcoin gain momentum. Analysts suggest this may be the beginning of a broader crypto market recovery, especially if institutional players return to the space. Traders are now eyeing resistance levels above $60K, with bullish sentiment creeping back into the market. --- ### ### News: Regulation Updates **Congressional Elections Could Determine Crypto's Future in the U.S.** In a CoinTelegraph analysis, the upcoming U.S. congressional elections are seen as a pivotal moment for the crypto industry's future. Several key bills on crypto regulation are pending, and the election results could shape whether the U.S. adopts a pro-crypto regulatory stance or leans towards stricter controls. This election will likely have far-reaching implications on everything from ETF approvals to tax policies, making it crucial for the crypto community to closely monitor the results. --- ### ### Political and Crypto Convergence **Crypto Takes Centre Stage in US Elections for the First Time** For the first time, [](https://www.themarketsunplugged.com/what-are-cryptocurrencies-and-how-do-they-work/)cryptocurrency has become a [](https://www.themarketsunplugged.com/the-role-of-crypto-in-the-2024-us-election-a-new-political-battleground/)significant issue in U.S. presidential elections, according to CoinTelegraph. Candidates are now discussing digital asset regulations, stablecoins, and taxation, making it clear that crypto has transitioned from niche to mainstream in shaping U.S. economic policies. The outcome of the elections could have a lasting impact on how crypto is regulated and adopted in the country, with pro-crypto candidates potentially steering policies in favour of the industry. ![a view of the capitol building from across the street](https://images.unsplash.com/photo-1650381046099-f78661c30626?crop=entropy&cs=tinysrgb&fit=max&fm=jpg&ixid=M3wxMTc3M3wwfDF8c2VhcmNofDEzfHxjYXBpdG9sJTIwaGlsbHxlbnwwfHx8fDE3MjU5ODQ3NDF8MA&ixlib=rb-4.0.3&q=80&w=2000) Photo by [noelle](https://unsplash.com/@noellejlee?ref=themarketsunplugged.com) / [Unsplash](https://unsplash.com/?utm%5Fsource=ghost&utm%5Fmedium=referral&utm%5Fcampaign=api-credit) --- ### ### Security and Scams **Over 10% of Financial Fraud Now Crypto-Related, FBI Report Reveals** As reported by CryptoBriefing, the FBI has highlighted that over 10% of financial fraud cases in the U.S. are now crypto-related, with scammers increasingly targeting digital asset investors. This underscores the need for enhanced security measures, regulatory scrutiny, and public awareness in the crypto space. The rise in crypto scams has prompted calls for more comprehensive fraud detection and prevention strategies within the industry to protect users. --- ### ### Airdrop Opportunities and Community Engagement No major airdrop announcements have surfaced for today. Keep an eye on platforms like LayerZero and ZkSync, which have hinted at upcoming community engagement events in the coming weeks. --- ### ### Token Unlocks Several token unlocks are happening today that may lead to market fluctuations: - **Pendle ($PENDLE)**: $698.27K worth of tokens unlocking (0.14% of market cap). Minimal price impact expected. - [](https://www.themarketsunplugged.com/is-moonbeams-glmr-token-the-ultimate-crypto-gem-of-cross-chain-smart-contract-platforms/)**Moonbeam ($GLMR)**: $484.83K unlocking (0.34% of market cap). Monitor for slight price movements. - **Aptos ($APT)**: $70.23M unlocking (2.32% of market cap). Expect potential volatility. - **Sipher ($SIPHER)**: $2.83M unlocking (25.2% of market cap). Significant price fluctuations expected. - **Worldcoin ($WLD)**: $7.32M unlocking (1.19% of market cap). Potential price fluctuations expected. --- ### ### Bitcoin and Crypto Market Update **Bitcoin Shows Potential for Rebound in September** > Start the month bearish but end it bullish...[#crypto](https://twitter.com/hashtag/crypto?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=themarketsunplugged.com) [#btc](https://twitter.com/hashtag/btc?src=hash&ref%5Fsrc=twsrc%5Etfw&ref=themarketsunplugged.com) [https://t.co/u0Yi3YSLCx](https://t.co/u0Yi3YSLCx?ref=themarketsunplugged.com) [pic.twitter.com/VJaTCwuomH](https://t.co/VJaTCwuomH?ref=themarketsunplugged.com) > > — 𝐂𝐫𝐲𝐩𝐭𝐨 𝐖𝐞𝐚𝐥𝐭𝐡 (@AskCryptoWealth) [September 9, 2024](https://twitter.com/AskCryptoWealth/status/1833224196798730625?ref%5Fsrc=twsrc%5Etfw&ref=themarketsunplugged.com) A tweet by [](https://www.themarketsunplugged.com/author/oz/)Oz highlighted, "Start the month bearish but end it bullish," pointing to Bitcoin's recent price action that started on a downward trend but now shows signs of recovery. [](https://www.themarketsunplugged.com/tag/bitcoin/)Bitcoin bounced off the **$54,000** support and has gained momentum, with resistance levels at **$59,461** and **$66,342** still to overcome. The recent candlestick formations suggest a potential reversal from bearish sentiment to bullish, sparking optimism among traders. However, macroeconomic factors continue to influence volatility, and caution is advised. --- ### ### On-Chain Analysis: Bitcoin and Ethereum **Bitcoin On-Chain Metrics** According to The Block, Bitcoin's on-chain data shows stable transactional volume at **$2.94 billion** daily. Active addresses remain high at **989,000**, reflecting robust network participation. Miner revenues are increasing slightly with recent price rises, but challenges persist with rising energy costs and higher hash rates. These metrics indicate a steady state for Bitcoin, with consistent network engagement across various user categories. **Ethereum On-Chain Metrics** [](https://www.themarketsunplugged.com/what-is-ethereum-2-0-and-how-will-it-change-the-blockchain-landscape/)Ethereum's on-chain activity, as reported by The Block, is also strong, with **$2.6 billion** daily in transaction volume. However, network congestion has led to rising gas fees, impacting user activity. Despite these challenges, Ethereum’s active addresses remain steady at **525,000** daily, driven by its dominance in DeFi and NFTs. The increase in fees, despite Layer 2 solutions, suggests that network scalability remains a key challenge. --- ### Market Sentiment **Bitcoin Fear and Greed Index Sits at 33: Fear** [](https://www.themarketsunplugged.com/the-bitcoin-and-crypto-fear-and-greed-index-a-beginners-guide/)Bitcoin's Fear and Greed Index is currently at **33**, signalling market "Fear," up from yesterday’s **26**. This suggests that despite recent price recovery, market participants remain cautious. The shift from extreme fear to moderate fear indicates that while sentiment is improving, uncertainties around macroeconomic conditions and potential regulatory actions are keeping traders on edge. The current price stands at **$57,295**, as market participants await further clarity from macro data and geopolitical developments. > Bitcoin Fear and Greed Index is 33 - Fear > Current price: $57,295 [pic.twitter.com/Tg9DGTTWTs](https://t.co/Tg9DGTTWTs?ref=themarketsunplugged.com) > > — Bitcoin Fear and Greed Index (@BitcoinFear) [September 10, 2024](https://twitter.com/BitcoinFear/status/1833483080436224459?ref%5Fsrc=twsrc%5Etfw&ref=themarketsunplugged.com) --- That’s it for today’s edition of **Crypto Daily Alpha**. Stay tuned for tomorrow's updates. Always do your own research and invest wisely! --- ### ### Support Our Work Click the support button at the bottom of the page. If you appreciate the content we provide and want to see more high-quality crypto insights, your support would mean the world to us. Your generosity helps keep our community informed and engaged—thank you! [**Click here for Full Access.**](https://www.themarketsunplugged.com/#/portal/)