Crypto tokens Financial News

crypto world's most ambitious software upgrade, Ethereum completed a key revamp of its blockchain network-- the Merge. The second-largest crypto token has now moved to the proof-of-stake (PoS) mechanism from Proof-of-Work (PoW). This is the first instance when an existing and running blockchain has made such a move. Following this, Ethereum's energy consumption will drastically drop by 99.9 per cent. Ethereum developers say the upgrade will make the network – which houses a $60 billion ecosystem of crypto exchanges, lending companies, non-fungible token (NFT) marketplaces and other apps – more secure and scalable. Following the merge, there was immediate price action in Ethereum as the token was hovering around $1,600 levels, seesawing between red and green.

crypto task force held its first public meeting with experts on Friday, focusing on how securities laws might apply to digital assets as the Trump administration looks to overhaul cryptocurrency regulations. Among the participants of the roundtable were John Reed Stark, former chief of the SEC's Office of Internet Enforcement, Miles Jennings, the general counsel for Andreessen Horowitz's crypto arm, a16z, and former SEC Commissioner Troy Paredes. Republican SEC Commissioner Hester Peirce is leading the task force, which is charged with developing rules and guidance for crypto.

Pi Coin has sparked considerable interest due to its innovative mobile mining model and strong community support. However, as 2025 draws near, its investment potential remains uncertain when compared to established altcoins like Solana, Dogecoin, and Cardano. Experts point out several challenges Pi Coin faces, such as its transition to an open market, regulatory hurdles, and the need for real-world adoption.

Bitcoin (BTC), the world's largest cryptocurrency by market value, plunged to multi-month lows on Monday as concerns over a potential US recession, fueled by disappointing economic data, spurred a rush to safe-haven assets. As of 12:57 pm IST, Bitcoin was trading 13.3% lower at $52,586, having briefly dropped to $49,121 in early Asian trading hours.

Bitcoin dropped 4.5% to $63,044 in Tuesday's trading session as stronger-than-expected US retail sales for March further reinforced expectations that the US Federal Reserve will unlikely rush to cut interest rates this year. Retail sales rose 0.7% last month, the Commerce Department's Census Bureau said. Data for February was revised higher to show sales rebounding 0.9%, the largest gain in just over a year, instead of the previously reported 0.6%.

crypto market is faltering as the path to looser monetary policy in the US becomes more challenging. Coins earlier favored by the meme-trading crowd such as Pepe, dogwifhat and Bonk slumped over the past 24 hours, consigning a gauge of smaller digital assets to its biggest tumble on Monday in more than two weeks.

Bitcoin advanced for a fifth straight day, putting the biggest cryptocurrency on track for its biggest monthly gain since October 2021. Bitcoin rose as much as 4.1% to $59,053 on Wednesday at 8:50 a.m. in London. It has risen on all but eight trading days so far in February, rallying 39% for the month.

crypto tokens were trading mix on Monday. While Bitcoin fell 0.24% in the last 24 hours and traded at $51,513.69 around 12 pm India time, other major cryptos such as Ethereum, Solana, BNB, Avalanche, Toncoin and Tron soared up to 2%. The other laggards in the pack were XRP, Cardano, and Dogecoin, which were down by up to 1.5%. Bitcoin is experiencing consolidation over the last few weeks and has been trading in the range of $50,000-$53000 after rallying by nearly 36% since the start of 2024, Shivam Thakral, CEO of BuyUcoin said, adding that Bitcoin has failed to breach the $53,000 resistance. In his view, a breakout above this level should push the price up to $60,000 in the near future.

crypto industry veterans, Nischal Shetty (founder of WazirX) and Avinash Shekhar (ex-CEO Zebpay) have launched their new venture, Pi42, the country's first Crypto-INR perpetual futures exchange, which aims to grow as the largest compliant crypto futures platform in the world. The exchange makes its debut in India, on Wednesday and aims to expand its reach across the key global markets by targeting the existing 30+ million Indian crypto investors over the next 2-3 years.

gold to crypto. Amidst this dynamic landscape, Bitcoin has been the standout performer, with an impressive surge of over 160% in the past twelve months. Bitcoin has delivered these returns, which is higher than stalwarts like Nifty50 and gold, which delivered nearly 19% and 13.5%, respectively. Prices of some crypto coins (Altcoins) surged up to 16,000%, churning out mind boggling returns for investors. «Bitcoin and Ethereum experienced significant gains, with Bitcoin's Year-to-Date growth reaching an impressive 160%. This upward trajectory reflected a clear shift in sentiment towards crypto assets. The market's growth throughout the year was characterized by organic and sustained development, positioning it favourably for the future,» said Rahul Pagidipati, CEO of ZebPay. Meanwhile, Shivam Thakral, CEO of BuyUcoin, said, «We have witnessed very encouraging numbers in terms of growth. The total market capitalization has increased by around 60% year-to-date. This growth was driven by factors like institutional adoption, DeFi's rise, and NFT popularity. Bitcoin, the world’s largest digital asset by market cap is up by 155% at the time of writing, which makes Bitcoin one of the best-performing asset class of 2023.»

Multiple reasons have contributed to cryptocurrencies outshining the more traditional forms of investment in recent times. Irrespective of which cryptocurrency or token a person invests in, some inherent characteristics of all cryptocurrencies have made them a darling of all, especially new-age investors. For starters, any transactions involving crypto are extremely low risk because all crypto is devoid of control of any monetary authority or central bank. A big plus for crypto is that changing economic factors play no role in its rise or fall. Its decentralized position, reliability, and efficiency have made it one of the best and fastest options to increase your investment very quickly. While a set of regulatory guidelines are yet to be established in India to follow when transacting in cryptocurrencies, the advantages and benefits cannot be disputed. Over the last decade or so, the mindset of investors has been changing, with many leaning more towards adopting cryptocurrency as their primary source of investment to gain significant returns. The skyrocketing advancement in the world of blockchain technology and fintech are to be given a lot of credit for getting more and more investors to switch to investing and transacting in cryptocurrencies.

Bitcoin rallying to an almost 18-month high on speculation that an exchange-traded Bitcoin fund is imminent. Bitcoin rose more than 6% to $35,198, its highest since May 2022. It surged 10% on Monday in its best session for almost a year and its price has doubled in 2023. Crypto-linked shares such as Coinbase Global or bitcoin owner MicroStrategy rose in after-hours trade. Cryptocurrency ether broke above $1,800. An exchange-traded fund (ETF) owning Bitcoin on behalf of fund investors is seen as a driver of demand because it would allow anyone reluctant to trade crypto markets a means of buying exposure to bitcoin through the stock market.

Crypto Assets (MiCA) Legislation, a first-of-its-kind framework for regulating crypto-assets. The legislature had been in consultations for over two and a half years before it was finally accepted by the European Parliament as a comprehensive set of regulations for the crypto ecosystem in Europe. MiCA came into force in May 2023 after receiving formal approval from the European Council.

stablecoins during such times.What are Stablecoins?Stablecoins are cryptocurrencies designed to maintain a stable value, typically by being pegged to a stable asset such as the US dollar. Investing in stablecoin can help mitigate market volatility because they are less susceptible to price fluctuations than other cryptocurrencies such as Bitcoin or Ethereum or any other.How can Stablecoin mitigate market volatility? Stablecoins can mitigate market volatility to some extent. 1. It can help in hedging against volatility

Bitcoin and other cryptocurrencies rallied on Monday after U.S. authorities announced plans to limit the fallout from the collapse of Silicon Valley Bank (SVB) and as cryptocurrency firm Circle assured investors its peg was secure. The U.S. Treasury and Federal Reserve announced a range of measures to stabilise the banking system and said depositors at SVB would have access to their deposits on Monday. The moves came as authorities took possession of New York-based Signature Bank, the second bank failure in a matter of days.Stablecoin USD Coin (USDC), which had lost its 1:1 dollar peg and hit an all-time low on Saturday on concerns over the exposures of Circle, the firm behind USDC, to Silicon Valley Bank, recovered. It was at $0.9917, closer to par and up from last week's lows around $0.88.

Bitcoin is having its worst week since November as an equity selloff, fear over higher interest rates and an escalating US regulatory crackdown on crypto combine to hurt investor sentiment. The largest token fell as much 2.1% on Friday, breaking below $20,000 for the first time since January, after falling more than 8% on Thursday. Ether added to losses and smaller coins like Solana and Cardano struggled for traction. A rout in US bank stocks on Thursday stoked concerns that rising borrowing costs are creating a treacherous economic and investing outlook. In New York, the state regulator sued KuCoin, a popular crypto exchange, and in the process claimed in court that second-largest token Ether is a security. The US Securities & Exchange Commission also contends that many cryptocoins are securities, a designation that would potentially make them harder to trade. “The selloff in cryptocurrencies appears to be largely equity-market led,” said John Toro, head of trading at digital-asset exchange Independent Reserve. He added that the wind-down of crypto-friendly bank Silvergate Capital Corp. and President Joe Biden’s proposal for a series of tax increases on investors and top-earning Americans contributed to the downdraft.

While extreme volatility and price declines are typically associated with bear markets in which investors tend to lose their savings, a downturn can also be used as an opportunity to build wealth in the long term.

metaverse on January 11. Punjabi pop singer Daler Mehndi performed live in the metaverse, making it the world’s largest concert by drawing 20 million spectators globally. That is the power of Metaverse, a universal virtual world consisting of 3D virtual spaces based on social connection. The technology interests millennials and generation Z, who are bored with static internet pages and social media platforms. Having experienced AR (Augmented Reality), VR (Virtual Reality), and MR (Mixed Reality), they are more excited about the 3D virtual world that provides real interactions and interesting visuals. Metaverse transports them to an entirely live and interconnected world. Recently, Facebook rebranded itself as Meta and brought the technology to the mainstream by hiring 10,000 people. By creating a metaverse infrastructure, the company intends to transform itself into something futuristic.

crypto prices dropped on an average of 12%. This sudden drop pushed the global crypto market to its lowest point in the month of August. For the first two weeks, the market rose for about 4-5%, which is not so great but still gave a sign of relief to investors, but this sudden drop could turn out to be fatal. By the end of the week, on Sunday, the market stabilized a little bit, but the losses over the weekend still stood up high and the day ended without getting bullish. Over the analysis of the International exchange books, the buy-side is thin. This phase of the market cannot turn around in just a few days with such conditions. As expected, Monday was also served by a weak market. During the day, about one-third of the coins in the Top 100 gained around 1-2% whereas, coins and tokens based on metaverse and attention on browser lost around 5% in their prices.

“Just like you do the fundamental analysis of a stock, you should do the same for a crypto token,” said CA Rachana Ranade at the recently concluded ET Prime Crypto 101 Special, where she highlighted the need for investors to understand the underlying value of a crypto token as well as the problem it solves before considering investing in it. A chartered accountant and teacher turned financial influencer (finfluencer) with over 3.6 million subscribers on YouTube, Rachana has a flair for explaining complex financial products and jargons in a fun, easy-to-understand manner. She did the same during the hour-long virtual ‘Crypto 101’ session on ET Prime where she demystified various aspects of crypto investing through simple, everyday analogies and fun anecdotes, while also breaking out into a Bollywood song to make a point about key financial lessons to keep in mind.

In the last 24 hours alone, the global market cap has tumbled more than 5 per cent to $1.85 trillion. It was over $2.05 trillion a week ago. That said, the volumes have remained strong in the digital token market.Crypto tokens fell ahead of Tuesday’s US Consumer Price Index report, said OKX research team.