Edward Moya News

Bitcoin, the largest token, rose as much as 4.9% and was trading at about $25,610 as of 10:45 a.m. in Singapore on Friday. Second-ranked Ether added roughly 3%, while smaller tokens like Solana and Polkadot also jumped. “Any sign of interest-rate cuts should push funds to riskier assets, which is likely to be enough to bring more institutional funds into the crypto market, regardless of whether macro traders understand or believe in the longer-term Bitcoin investment thesis,” wrote Noelle Acheson, author of the “Crypto Is Macro Now” newsletter. Bitcoin has climbed about 55% so far this year and is in touching distance of the highest level since June 2022. But the token remains a long way off its record of almost $69,000 from November 2021.

Is crypto lending dead, or does it just need better execution? That’s a question asked with more urgency in the wake of Genesis Global Capital Jan. 19 bankruptcy filing. That, in turn, followed the demise of other prominent crypto lenders, including Celsius Network and Voyager Digital in July 2022, and BlockFi, which filed for Chapter 11 bankruptcy protection in late November 2022.

Top cryptocurrency news today includes Huobi's HT token price jump, Justin Sun's involvement in the first nation-backed cryptocurrecy, and a slight rally in the cryptocurrency markets. At the same time as the wider markets rally, some crypto presales are gaining huge attention from investors as well, raising millions of dollars even in overall tepid market conditions. More on this below.

Major cryptocurrencies were trading in the green early on October 26 as the global crypto market cap increased 4.97 percent to $976.54 billion over the last day. On the other hand, the total crypto market volume over the last 24 hours rose 69.11 percent to $89.24 billion.

Bitcoin dropped below $20,000 on Monday as investors dumped risk assets after the Federal Reserve affirmed its commitment to an aggressive tightening path.

Bitcoin dips below $20,000 After Fed Chair says rate hikes in play on high inflation

Bitcoin dipped below $20,000 on Saturday, continuing a drop that has taken it down nearly 60% from its year high.

Bitcoin fell below $20,000 for the first time since December 2020 as evidence of deepening stress within the crypto industry keeps piling up against a backdrop of monetary tightening.

With UST mixed into the dust and USDD struggling to keep up; could Tether be the next in line for the stablecoin massacre? The crypto market volatility has ramped up pressure on stablecoins recently after Celsius froze account transactions. The coming days are showing trader pain with the market struggling badly under tightened monetary conditions.

Ether and Altcoins Lead Crypto Rout as Terra DeFi Fallout Deepens

altcoins such as Ether, Solana and Avalanche take a beating. Traders are partially stumped, but for Ethereum, the signs of a lack of demand have been building for quite some time. The impact of the collapse of Terra, a blockchain ecosystem that supported one of the biggest experiments in decentralized finance, knocked an already bearish market into wild contagion this month. While Terra’s operators had passed a revival plan to start afresh on a totally new blockchain on Wednesday, investors in the rest of DeFi were less than convinced. A glitch in the process to make the Ethereum network less energy intensive added to the concern. “Bearish sentiment remains the theme for cryptos,” said Edward Moya, senior market analyst at Oanda. He noted that Ethereum’s growing list of competitors could make the fallout from unexpected hitches to its update, known as the Merge, particularly intense.

Ethereum [ETH] dropped by 18% in less than a week after bouncing off the $2,200 support level. This happened after BTC suffered another shock and dipped to $30,000. The entire crypto market has gone into a frenzy in recent days with Luna and UST headlining the fallen market situation.

Bitcoin slumped below $30,000 for the first time since July 2021 on Tuesday as cryptocurrencies track sinking markets with investors spooked by aggressive US monetary tightening and surging inflation. The world's largest cryptocurrency by market value fell as low as $29,764 in Tuesday trade, before recovering above $30,000, extending a recent collapse in price as investors desert assets viewed as risky. Bitcoin's value has more than halved since a November surge that saw the token hit a record of nearly $69,000.

Nasdaq 100 futures fell slightly Monday evening after stocks bounced in the afternoon and ahead of Big Tech earnings.

Stock futures were little changed Sunday evening as investors look ahead to a series of key economic reports and continue to keep a close eye on the Federal Reserve's planned interest rate hikes.

U.S. stock index futures crept higher during overnight trading Monday, after the major averages moved between gains and losses during regular trading as the market awaits key inflation data later this week.

Bitcoin dropped again on Saturday and was last down around 4 per cent for the day, hovering around the $35,000 level. Bitcoin, the world's biggest and best-known cryptocurrency, is now about half its $69,000 peak in November. It was last at $35,049, after falling as low as $34,000 and following a steep fall on Friday. The currency has had wild price swings and has been hit as risk appetite has fallen on inflation fears and anticipation of a more aggressive pace of interest rate hikes from the U.S. Federal Reserve.