Bitcoin Price Surges 3% as Franklin Templeton Files for Crypto Index ETF and This New Meme Coin Nears $1 Million

bitcoin price rose 3% in the last 24 hours eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>to be traded at $59,059 at 10:15 p.m. EST, despite trading volume falling 21% to $27 billion.

The recent surge in btc price comes as asset manager Franklin Templeton looks to launch a new ETF (exchange-traded fund).

This ETF is designed to track the performance of the CF Institutional Digital Asset Index, which currently only includes btc and eth.

bitcoin price points to a rise

bitcoin price has invalidated the rounding top pattern formed in late July and early August as it surged from the $49,000 support to the $62,655 resistance, according to data from eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>GeckoTerminal.

However, the price of bitcoin has been in a downtrend, trading within a descending channel pattern over the past week.

The Relative Strength Index (RSI) also indicates that buying pressure is building below the mid-50 level, currently at 45.

If buying begins at this level, bitcoin price could surge above the channel, breaking the immediate resistance levels at $61,582 and $62,614, as bulls target $68,000 in the coming days.

However, btc price is still trading below the 50-day and 200-day simple moving averages (SMA), which may trigger a correction below the channel. Moreover, the 50-day SMA has crossed below the 200-day SMA, forming a death cross at $62,011.

A death cross could prompt bears to sell further, pushing bitcoin price back to its main support of $53,512.

As bitcoin price soars, some investors are buying the new meme token, Cryptocurrency Stars ($STARS)which has raised over $476K as it gains traction in the crypto community.

According to Jacob Bury, a prominent cryptocurrency YouTuber, $STARS has the potential to skyrocket 10x after its launch.

crypto All-Stars Raise Over $476K: Best Meme Coin To Buy Right Now?

crypto All-Stars is creating buzz as the world’s first Mem͏eVault ecosystem, which brings together the most prominent meme coins under one roof. It offers a revolutionary s͏taking platform where users can s͏take their tokens and earn money. It also aims to create a unified and incentivized ecosystem for enthusiasts.

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What is crypto All-Stars?

crypto All-Stars is set to revolutionize the meme coin industry with its innovative platform 'Meme Vault'.

This is more than just another meme coin – it’s a whole new way to interact with the meme coin ecosystem!

— web3telepath (@web3telepath) twitter.com/web3telepath/status/1824051735708447035?ref_src=twsrc%5Etfw”>August 15, 2024

At the heart of crypto All-Stars is Me͏meVault, an online banking staking platform for membership coin holders. Users can stake their assets and earn $ST͏ARS tokens, fostering a collaborative environment.

crypto All-Stars meme coins include Pepe Coin, Dogecoin, Shiba Inu, Floki Inu, Based Brett, MogCoin, Milady, TurboToken, Toshi The Cat, Coq Inu, and BonkCoin. More meme coins will be added in the coming months.

You can also Buy and stake $STARS for an annual percentage yield (APY) of 3.296%.

The cryptocurrency is selling for $0.0013855. However, as the price will increase in about 4 hours, you need to act fast to get the meme coin at the best possible price.

Buy $STARS from their official website here using BNB, USDT or a bank card.

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