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cryptocurrency market was attempting to stabilize following the recent wrath and ahead of the US Federal Reserve meeting outcome. However, the volumes remained thin despite the recent gains. The crypto market is closely observing the result of the US Federal Reserve’s two-day policy meeting later in the evening. The Fed is expected to hint at an interest rate hike in March to fight inflation. Barring the US dollar-pegged USD Coins, nine out of the top-10 digital tokens were trading higher during the trade on Wednesday. Bitcoin and Ethereum jumped 2 per cent each, whereas Solana and Dogecoin zoomed up to 7 per cent.

crypto industry is awaiting the outcome of the Fed's two-day policy meeting, which will be released on Wednesday. The hawkish stance from the Fed and signals of four rate hikes in 2022 has spooked the global markets lately. With a sharp correction in global equity markets, particularly in tech stocks, the crypto cart followed the carnage and eroded wealth worth $1 trillion from the global crypto market cap. However, the crypto traders are showing some signs of recovery, but the volumes have remained muted as the traders are eyeing Fed's commentary on the issue.

In the current market, there are a couple of facts that are even more worrisome. First, for crypto, there is no underlying asset; so if this is a mania then it's not even asset-backed. Second, millions of millennials have been drawn into crypto and markets for the first time. So they have till recently not seen or felt a bear market. There are optimists who believe that there will be no long-term bear market and corrections will be short-lived. There have been times in the market when irrational exuberance lasted so long that money managers talking rationally lost their jobs and some of them did not live long enough to see that their disbelief was justified.

cryptocurrency exchanges have recorded higher trading volumes in the past few days owing to extreme volatility in the market, as many traders and investors liquidated some of the riskier tokens, rebalanced their portfolios by moving to stable coins and also indulged in opportunistic buying to average down their portfolios. During and after the weekend crash, ET spoke to multiple exchanges to gauge the trading volumes — most recorded higher transaction levels, but a few witnessed a dip too. «We have seen volumes increase by around 15%,» said Avinash Shekhar, co-CEO, ZebPay.

Mumbai: Indian cryptocurrency exchanges have recorded higher trading volumes in the past few days owing to extreme volatility in the market, as many traders and investors liquidated some of the riskier tokens, rebalanced their portfolios by moving to stable coins and also indulged in opportunistic buying to average down their portfolios. During and after the weekend crash, ET spoke to multiple exchanges to gauge the trading volumes — most recorded higher transaction levels, but a few witnessed a dip too. «We have seen volumes increase by around 15%,» said Avinash Shekhar, co-CEO, ZebPay. A CEO of a top exchange said on condition of anonymity, «We saw a sharp decline in trading volumes during the weekend as most investors were trying to figure out the reasons and consequences of the current dip in crypto.»

Dogecoin got another boost from Elon Musk on Tuesday and the coin climbed over 9 per cent compared to last day, which pared losses for investors who have suffered a lot during the week. Musk, who is the founder of Tesla and SpaceX, said he would eat a Happy Meal on TV if Fast food giant McDonald’s starts accepting Dogecoin. Happy Meal is one of the prominent items on the menu by McDonald's. «The Dogefather is back to pumping Dogecoin. It remains to be seen if McDonalds complies with Musk’s request. Musk is consciously expanding the utility of Dogecoin beyond a few select Tesla merchandise,» said Sharat Chandra, VP- Research and Strategy, EarthID, a self-sovereign Identity Management Platform.

crypto market has wiped out about $1 trillion of investors' wealth. Bitcoin has dropped about 50 per cent of its value from the peak, whereas other altcoins including Solana, Cardano, Polkadot, Fantom, Near Protocol have lost about two-third of their value in the latest round of correction. Commenting on the crypto carnage, Ashish Singhal, Founder & CEO, CoinSwitch Kuber, India's largest crypto platform, said the current trends are a reflection of swings in global financial markets and news of regulatory proposals globally. Several early investors in crypto have also been booking profits, he said in a series of tweets.

Bitcoin has had a terrible start to the new year. The crypto major has lost about 50 per cent of its value from the peak touched in November 2021. Its total market cap has fallen below $700 billion from around $1.25 trillion during its golden days, thanks to the ongoing carnage in the crypto market. The geopolitical tensions in Europe and the middle east, ban proposal from Russia, inflationary worries, US FOMC meet and beaten down equity markets are some of the key reasons that have dragged the crypto markets lower.

crypto cart was struggling to move higher and follow Bitcoin ahead of the start of the Federal Reserve meeting on Tuesday. However, the rise in trading volumes came as a relief for the industry. Barring Bitcoin, all other nine out of the top-10 digital tokens were trading lower during the early trade on Tuesday. Bitcoin jumped about 3 per cent to the $36,000 level. The global crypto market cap remained flat at $1.63 trillion. However, total crypto market volume zoomed more than 53 per cent to $128.01 billion.

crypto, in which case a winter is worse. The chilling term refers to a sharp slump, followed by a drop-off in trading and months of market doldrums — a phenomenon that memorably befell the crypto market in 2018. Bitcoin’s price plunged by more than 80% to as low as $3,100 from the end of 2017 through December of the following year, a period characterized by the boom-and-bust of initial coin offerings and several big banks shelving their plans to start cryptocurrency trading desks. Bitcoin wouldn’t reach a new high until December 2020, according to data compiled by Bloomberg. Memories of 2018 are sparking fears that a repeat is playing out now after the world’s largest cryptocurrency plummeted 50% from its most recent high of almost $69,000 in November. The crypto universe has shed more than $1 trillion in market value on growing conviction that the Federal Reserve is set to start ratcheting back the ultra-accommodative policy settings that fueled a boom in risk assets. The pullback has hit all corners of the crypto ecosystem, from Bitcoin to memecoins and publicly listed crypto exchanges. While the collapse has been rattling enough on its own, it has spawned an even bigger concern that the pain may persist for many months, according to UBS.

When you make a UPI payment, your bank settles the amount on your behalf at the end of the day. Digital payments like UPI are electronic instructions that authorise intermediaries such as banks to facilitate transactions. Even if they are ‘cashless’ modes of payment, they involve transfer of fiat money (government-issued currency). Now imagine a UPI-like system where digital currency issued by a central bank is transacted instead of bank balances. The need for interbank settlement disappears and you have the option to pay someone securely, without third-party risks. What if money itself could be ‘digital’? The RBI has called for a complete ban on crypto as it believes partial restrictions won’t work. But, at the same time, it is considering issuing its own digital currency by leveraging the technology that powers crypto. “A central bank digital currency (CBDC) would also potentially enable more real-time and cost-effective globalisation of payment systems. Time zone difference would no longer matter,” said T Rabi Shankar, RBI deputy governor, in a speech last year. The RBI defines a CBDC as a legal tender issued by a central bank in a digital form. “It is the same as a fiat currency and is exchangeable oneto-one with the fiat currency. Only its form is different,” said Shankar. The RBI is working towards a phased implementation strategy. Presented ByDid you Know?Producer, direc

traders to now consider $30,000 as the next line in the sand. The world’s largest digital asset is mired in its sixth straight day of declines, with the token down roughly 20% over the past seven days. It’s now 50% below its November peak and was trading as low as $32,970 on Monday, the lowest since July. The coin’s selloff has pushed it to the most oversold since March of 2020, based on its Relative Strength Index (RSI) score of 19. Bitcoin is now approaching a support region of $30,000, where some analysts see it finding a near-term floor. Assets are considered overbought if its RSI crosses above 70 and oversold if it falls below 30.

The largest cryptocurrency was last up 2.5% at $37,250 after earlier dropping to $32,951, its lowest price since July 23. That took losses from its all-time high of $69,000 hit in November past 50%. Bitcoin is now at a critical juncture where analysts say that further selling could reverse its long-term bull trend.

One such example is Solana, which enjoyed the title of 'Ethereum Killer' till a few weeks ago. But now, it has lost its mojo. The digital token has slipped down to the eighth spot among the largest crypto tokens from the fifth position earlier. It has lost two-thirds of its value from the peak of $260 hit last November. The crypto-token was trading around $86.5 on Monday. In the last 24 hours, Solana has tanked more than 17 per cent with its traded volume down about 25 per cent in the given period. The volume in this token has remained low off late.

The largest cryptocurrency trading down 7.4% at $33,650, its lowest since July 24, taking losses from its all-time high of $69,000 hit in November past 50%. The U.S. State Department said on Sunday it was ordering diplomats' family members to leave Ukraine in one of the clearest signs yet that American officials are bracing for an aggressive Russian move in the region.

cryptocurrency market was a huge blow to the investors as it wiped out $1 trillion in market cap from the industry. The carnage was so intense that major cryptocurrencies, including behemoths like Bitcoin and Ethereum, lost up to half of their value from the peak, while other altcoins felt more pain. The tapering cues from the Federal Reserve, rising bond yields, crackdown signals and regulatory strictness weighed on the sentiments of the crypto space.

crypto cart scripted a small comeback ahead of the two-day Federal Reserve meeting that begins on Tuesday. Barring Solana, all other nine out of top-10 digital tokens were trading higher during early trade on Monday. Solana has lost about 65 per cent of its value in the recent selloff. The trading volumes remained light with many investors continuing to assess troubling economic conditions and a pronounced decline in equity markets.

cryptocurrency market is known to go through volatile cycles of correction. This past week was one such deep correction with double-digit declines. From a technical perspective, the cryptocurrency market could be headed for a further dip. Bears are pretty active currently. Although it could seem to be a tight spot for several investors, it’s important to understand that true value creation happens during bear phases. Most of the top cryptos would be available at a discount currently. Investing in themes built around ideas could be a prudent approach forward. The largest cryptocurrency by market capitalisation, Bitcoin, climbed up in its market dominance. BTC dominance is now over 41% of the total crypto market cap of roughly $1.6 trillion.

Crypto.com after the platform was hit by a $34 million hack, its CEO Kris Marszalek has been forced to respond on social media how best they can get back their accounts. Thousands of people took to social media to complain that they could not get back into their accounts, begging for help. In a tweet thread, Marszalek finally responded, saying if you can't get back into our app following access reset this week, «in 95/100 cases you are simply using the wrong email to login».

Bitcoin sliding 4% and Ether down some 7% in late-afternoon US trading after an already brutal week. Bitcoin, the largest cryptocurrency by market value, traded at about $35,300 as of 4:15 p.m. It earlier touched $34,042.77, representing a loss of more than 50% from its all-time high last November. And it’s not alone: As crypto traders reacted this week hawkish signals from the Fed as well as fresh regulatory hints by the White House and the threat of an outright ban in Russia, the declines in Ether — the second-largest token — and in newer coins have outpaced Bitcoin’s fall. Over the past seven trading days, Bitcoin has shed around 20% of its value compared with nearly 30% for Ether. Solana’s SOL and DeFi-play Avalanche’s AVAX token have fallen nearly 38% each. And the wipeout in memecoins has been profound: Dogecoin is down 30% on the week while Shiba Inu is off 38%, according to CoinMarketCap.

Robinhood has announced that it has begun rolling out crypto wallets to 1,000 users from the top of the wallets waitlist. By March, the company said it will expand the programme to 10,000 users before rolling out crypto wallets to the rest of the WenWallets waitlist. «We are excited to announce that the next phase of our Wallets programme, the Beta program, is officially live,» the company said in a blogpost.