Crypto Platform News

Meanwhile, the global cryptocurrency market cap was trading higher, around $1.05 trillion, rising 0.40% in the last 24 hours. «The crypto market remained stable over the weekend, with the total market capitalization hovering around $1.05 trillion. The upcoming week is anticipated to bring heightened market volatility due to various significant macroeconomic events,» said CoinDCX Research Team. «These events, including US Job Openings, Non-Farm Employment Change, and the Unemployment Rate, are expected to have ripple effects on various assets such as Gold, the Dollar Index, US Equity Markets, and the crypto market,» it added.

Meanwhile, the global cryptocurrency market cap was trading higher, around $1.07 trillion, up 1.55% in the last 24 hours. Bitcoin (BTC) rose 1.62% to $26,475, whereas its largest peer, Ethereum, surged nearly 2% and regained the $1,650 level. Meanwhile, BTC volume in the last 24 hours stood at approximately $16.09 billion, rising 1.76% in the last 24 hours. «For the market to turn bullish again, a breach of $28,400 resistance by Bitcoin is necessary in the coming weeks. Markets await US Fed Chair Powell’s speech at an annual conference this Friday to determine its direction with clarity on macro-economic trends,» Vikram Subburaj, CEO, Giottus Crypto Platform, said.

Meanwhile, the global cryptocurrency market cap was trading lower, around $1.14 trillion, falling 1.61% in the last 24 hours. «Bitcoin has dropped 3% overnight and is fighting to hold $28,600 as support (which is in line with its 100-day moving average). This comes as global stock indices, including S&P 500, continue to be in the red — losing gains achieved over the past few months. Any further drop in Bitcoin will push the asset to retest $26,000 over the coming weeks,» Vikram Subburaj, CEO of Giottus Crypto Platform, said. Other top crypto tokens, BNB, XRP, Dogecoin, Solana, Shiba Inu, Polygon and Litecoin were also trading lower on Thursday.

cryptocurrency markets were trading in the red on Thursday despite the lower-than-expected inflation data in June. Bitcoin (BTC) fell 1.21% to $30,357, whereas Ethereum (ETH) was below the 1,900 level. BTC volume stood at approximately $14.62 billion, rising 23.46% in the last 24 hours. «Bitcoin is steady above $30,000, in a range it has been since late June. Favorable US CPI inflation data hasn't excited the market yet with key resistance forming around $31,000,» Vikram Subburaj, CEO at Giottus Crypto Platform, said. «Ethereum continues to lag behind the leading asset under $1,900. This period of consolidation will end with a break on either side with a high probability of a considerable rally in the coming weeks,» he added.

cryptocurrency market was trading higher on Tuesday, with Bitcoin (BTC) rising 1.23% to $30,476, while Ethereum was above the $1,850 level. Meanwhile, BTC volume in the last 24 hours stood at approximately $14.59 billion, rising 66.55% in the last 24 hours. «Bitcoin continues to consolidate above $30,000 with a quick move towards $31,000 earlier today followed by a quick pullback. BTC is likely to make an attempt to reclaim the level again. Breaching key resistance at $32,400 will be the eventual target before a sustained rally is possible,» Vikram Subburaj, CEO of Giottus Crypto Platform, said. «Ether is currently facing resistance at the 20-day exponential moving average ($1,871) while the bulls are attempting to defend the 50-day simple moving average ($1,841). This struggle between buyers and sellers indicates a lack of clear momentum in the market,» said the ZebPay Trade desk.

cryptocurrency markets were trading mixed in Tuesday's trade. Bitcoin, Tron, BNB, and Litecoin were trading with gains, while Ethereum, XRP, Dogecoin, and Cardano were trading with cuts. Bitcoin (BTC) rose 0.32% to $30,360, whereas Ethereum (ETH) was above the $1,850 level. BTC volume in the last 24 hours stood at approximately $15.25 billion, rising 14.39% in the last 24 hours. «Bitcoin continues to show strength above $30,000 with its market dominance above 50%. It is likely to consolidate around this level in the upcoming week. If it can break the $32,400 resistance in the upcoming days, a strong rally towards $35,000 levels is possible,» Vikram Subburaj, CEO of Giottus Crypto Platform, said. The global cryptocurrency market cap was trading around $1.18 trillion, rising 0.27% in the last 24 hours.

cryptocurrency markets were trading in the red on Thursday after the US Federal Reserve left rates unchanged as anticipated but hinted at the possibility of more hikes later this year. Bitcoin (BTC) fell 3.7% to $24,918, whereas Ethereum (ETH) was below the $1,650 level. BTC volume stood at approximately $15.28 billion, rising 17.54% in the last 24 hours. «Bitcoin experienced a drop to $24,990, marking its first time hitting this level since March. This decline came in the midst of a turbulent week, triggered by a hawkish announcement from the Federal Reserve,» Edul Patel, Co-founder and CEO at Mudrex, said. Other top crypto tokens were also trading lower. XRP and Litecoin fell by over 6%. Meanwhile, BNB, Dogecoin, Polygon and Polkadot traded with cuts.

cryptocurrency markets were trading in the red on Thursday. Bitcoin (BTC) fell 2% to $26,432, whereas Ethereum (ETH) was below the $1,850 level. «Bitcoin experienced a drop below the US$26,500 mark amidst SEC filing lawsuit against Binance and Coinbase. Despite attempts, BTC failed to surpass the US$27,000 level again. The current support for BTC rests at US$26,200, with resistance at US$26,600. If the immediate resistance is successfully overcome, it could propel the price even higher,» Edul Patel, CEO and Co-Founder of Mudrex, said. Other top crypto tokens were also trading lower. BNB and Solana fell by over 6%. Meanwhile, XRP, Cardano, Polygon and Polkadot also traded with cuts. Vikram Subburaj, CEO of Giottus Crypto Platform said, «US SEC's recent crackdown on Binance and Coinbase has reinstated fear in the markets with top altcoins like ADA, BNB, SOL and MATIC declining by more than 10% in the last week. Bitcoin and Ethereum continue to hold their levels as a safer hedge for investors. We anticipate more volatility in the upcoming week as the US Fed decides on interest rate hikes.»

cryptocurrency market was majorly trading higher on Thursday amid improved sentiment on progress in debt ceiling negotiations in the United States. Bitcoin (BTC) rose 0.90% to $27,230, whereas Ethereum (ETH) was just above the $1,800 level. BTC volume in the last 24 hours stood at approximately $15.1 billion, rising 23.23% in the last 24 hours. «Bitcoin (BTC) got a healthy bounce overnight as prospects of a successful US debt ceiling raise positively influenced financial markets. It continues to trade just above the $27,000 level and will likely have a renewed attempt at $30,000 in coming weeks,» Vikram Subburaj, CEO of Giottus Crypto Platform, said. Other top crypto tokens were also trading higher on Thursday. Polygon surged nearly 3%. Cardano, Dogecoin, Polkadot and Litecoin were also trading with gains.

cryptocurrency markets were majorly trading in the red on Tuesday. Bitcoin (BTC) fell 1.22% to $27,043, whereas Ethereum (ETH) was just above the $1,800 level. BTC volume stood at approximately $13.2 billion, rising 9.41% in the last 24 hours. «After a day of upward trend, crypto markets have been under minor selling pressure in the last 24 hours. Bullish sentiments seem to be gradually restoring as the crypto fear and greed index stands at 54, up 4 points from yesterday. The crypto-cautious investors, however, continue to observe from the sidelines,» Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, said. Other top crypto tokens were also trading lower. Solana and Polkadot declined by over 2%. BNB, Polygon, and Dogecoin were also trading with cuts.

cryptocurrency markets were trading in the red on Tuesday ahead of US inflation data. Bitcoin (BTC) declined 2.14% to $27,580 and Ethereum (ETH) was below the $1,850 level. BTC volume stood at approximately $17.73 billion, rising 32.6% in the last 24 hours. «Bitcoin (BTC) has dropped 7% since Saturday as reports of network congestion and pausing of BTC withdrawals subsequently by Binance has led to market speculation. However, price action continues to demonstrate strong consolidation as we anticipate a rebound later this week. US CPI inflation data will be key to holding this market structure,» Vikram Subburaj, CEO of Giottus Crypto Platform, said. Other top crypto tokens were also trading lower. Polygon declined by over 4%. Litecoin, Dogecoin and XRP were also trading with cuts. The global cryptocurrency market cap was trading lower around $1.14 trillion, falling 1.73% in the last 24 hours.

cryptocurrency markets were majorly trading higher on Thursday. Bitcoin (BTC) rose 2.31% to $29,035, whereas Ethereum (ETH) was just below the $1,900 level. BTC volume in the last 24 hours stood at approximately $35.15 billion, rising 84.70% in the last 24 hours. «Concerns about First Republic Bank continued, causing Bitcoin to rise to the US$29,000 range. Bitcoin had surged from a low of US$27,217 the day before, reaching a week-long high and recovering any losses incurred during that time. The support level for Bitcoin is currently US$28,000, with resistance at US$29,400,» Edul Patel, Co-founder and CEO at Mudrex, said. The global cryptocurrency market cap was trading higher around $1.20 trillion, rising 1.18% in the last 24 hours. The total volume in DeFi is currently 5.20 billion, 7.33% of the total crypto market 24-hour volume. The volume of all stablecoins is now $64.06 billion, which is 90.27% of the total crypto market 24-hour volume.

«Most cryptocurrencies rose slightly in the past 24 hours after mildly encouraging inflation data on one side and Ethereum Shanghai upgrades on the other. Bitcoin was seen trading above the US$30,000 level, with its resistance set at US$30,500. This shows that the bulls currently have the upper hand in the market. However, the support of BTC lies at the US$29,900 level,» Edul Patel, Co-founder and CEO at Mudrex, said. Other top crypto tokens were also trading higher. Solana surged over 5%. Meanwhile, Polkadot, Litecoin, Dogecoin and Cardano also traded with gains. The global cryptocurrency market cap was trading higher around $1.23 trillion, rising 1.09% in the last 24 hours. The market cap of Bitcoin, the world's largest cryptocurrency, was around $582 billion. Bitcoin’s dominance is currently 47.25%, a decrease of 0.25% over the day, according to CoinMarketCap.

cryptocurrency markets were trading in the red on Thursday after the Federal Reserve unveiled a ninth straight interest rate hike. Bitcoin (BTC) fell 1.88% to $27,698, whereas Ethereum (ETH) was below the $1,800 level. BTC volume in the last 24 hours stood at approximately $32.36 billion, down 6.07%. «The 25 basis point anticipated interest rate hike and the associated hawkish messaging from the US Fed created volatility in crypto markets with Bitcoin (BTC) dropping 3% overnight,» Vikram Subburaj, CEO of Giottus Crypto Platform, said. «BTC enjoys good short-term support at $26,500-$26,900 levels and a strong base at $25,300. If BTC holds any of these levels in the next week, the rally can potentially continue as the rate-hike ripple settles down,» Subburaj added.

Ethereum's much-awaited software upgrade, termed as 'the merge' is merely a few hours away from completion. The biggest fear looming over the crypto community is — what if the process fails? Ethereum is slated to change its mechanism to proof-of-stake (PoS) from existing proof-of-work (PoW). Analysts believe that Ethereum's merge can fail, but there are very faint chances of this happening, akin to negligible but one cannot say that the merge will be 100 per cent success. The upgrade is crucial as it reduces Ethereum’s energy consumption by over 99 per cent. The final stage of the upgrade and shift to the PoS mechanism began on 6th September on the mainnet, closely evaluated by the developers.

Merge' by the crypto community. 'The merge' will shift Ethereum to a proof-of-stake (PoS) mechanism from its existing proof-of-work (PoW) mechanism, making it more energy efficient and carbon effective. Vikram Subburaj, CEO, Giottus Crypto Platform, said that the Merge will change the consensus mechanism but it will not increase the capacity of the Ethereum network. Merge may lead to forked chains similar to Ethereum Classic (ETC) that split from Ethereum in 2016," he said.

UNCTAD). As per the report, every fourteenth Indian invested in the new age asset despite the covid-19 pandemic. The report highlighted how the adoption of crypto had increased exponentially during the Covid pandemic globally and especially in emerging economies like India, according to Mohammed Roshan, CEO & Co-founder, GoSats. «The report clearly mentions remittances and the fact that crypto was perceived as a way to protect household savings were the main reasons for the rise in adoption in emerging economies,» said Roshan.

Bitcoin dropped sharply on Friday, touching its 3-week low. The largest digital token lost more than 8 per cent to slip below the key psychological level of $22,000. The exact reason for this sudden fall could not be ascertained immediately. But on a technical basis, the strength of bulls is apparently waning, said analysts. According to markets experts, the traders were digesting the US FOMC minutes which hinted that bankers are unlikely to slow down the path for rate hikes. The policymakers discussed the necessity of increasing interest rates more in order to tame inflation. The week started with a rise in prices of Bitcoin to $25,200 but failed to sustain momentum, said Coin DCX Research Desk.

The latest rebound in the crypto markets might be a surprise for many, but the hilarious part of this is that meme tokens have evolved as the biggest winners in this recovery. Elon Musk's favourite Dogecoin has gained over 30 per cent in the last week, but the second-largest meme coin, Shiba Inu, has zoomed more than 45 per cent in seven days after a beatdown from the peak.

It is not only Terra that wiped off $40 billion from investors kitty, as its native token Luna plunged to some fractional cents after from $118 a few weeks ago. Other altcoins have also plunged upto 90-95 per cent from their peaks.