Cryptocurrency Financial News

cryptocurrency markets were trading mixed on Tuesday. Bitcoin, Ethereum, and BNB were trading with cuts, while Dogecoin, Shiba Inu and Litecoin were trading with gains. Bitcoin (BTC) fell 1.39% to $29,587, while Ethereum (ETH) was below the $2,100 level. BTC volume stood at approximately $16.81 billion, rising 14.1% in the last 24 hours. «After a week of crossing the $30k mark, Bitcoin has dipped below the threshold amidst the abating banking crisis, rising treasury yields, and the shift of investors’ sentiment towards ‘risk-off’ assets. Dipping ~2% in the last 24 hours, BTC is trading in the $29.5k zone. Post the Shapella upgrade, ETH continues to trade above the $2k mark,» Parth Chaturvedi, Crypto Ecosystem Lead at CoinSwitch, said. The total volume in DeFi stood at 4.32 billion, 9.83% of the total crypto market 24-hour volume. The volume of all stablecoins was at $39.45 billion, 89.67% of the total crypto market 24-hour volume.

cryptocurrency markets were trading mixed on Monday. Bitcoin, XRP and Cardano were trading with cuts, while BNB, Solana and Litecoin saw gains. Bitcoin (BTC) fell 1.12% to $29,996, whereas Ethereum (ETH) was above the $2,100 level. BTC volume in the last 24 hours stood at approximately $14.78 billion — rising 29.22% in the last 24 hours. «Over the weekend, Bitcoin maintained its consolidation around the US$30,000 level after reaching a peak of US$31,005 on Friday — its highest point since June 2022. In contrast, Ethereum, the second-largest cryptocurrency, achieved a new 11-month high of US$2,141 over the weekend, driving fresh enthusiasm among investors following the successful Shanghai upgrade,» Edul Patel, Co-founder and CEO at Mudrex, said. ETH is currently trading at US$2,101, which represents a 134% increase since its lowest cycle in June 2022. The market as a whole appears to be bullish, Edul added.

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

cryptocurrency markets were trading higher on Friday with an increase of over 4% in the crypto market cap in the last 24 hours. Bitcoin (BTC) rose 2.30% to $30,786, whereas Ethereum (ETH) surged 10.5%, and was above the $2,100 level. «Rising by over 10% in the past 24 hours, ETH is trading in the $2.1k zone despite some fearing a massive dump after the Shapella upgrade. BTC is also on the rise to chase the $31k mark. The crypto fear and greed index have jumped 7 points to regain the scoring for 68, hinting towards increasing investor confidence,» Parth Chaturvedi, Crypto Ecosystem Lead at CoinSwitch, said. Other top crypto tokens were also trading higher on Friday. Dogecoin jumped nearly 9%. Meanwhile, BNB, XRP, Litecoin, Solana and Cardano also traded with gains. The global cryptocurrency market cap was trading higher around $1.28 trillion, rising 4.25% in the last 24 hours. The market cap of Bitcoin, the world's largest cryptocurrency, was around $595 billion. Bitcoin’s dominance is currently 46.30%, a decrease of 0.95% over the day, according to CoinMarketCap.

The price moved up sharply shortly after 0030 GMT. (File)

«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.

«Most cryptocurrencies witnessed a slight decline ahead of the US CPI data for March, which is set to be released today. Bitcoin was seen consolidating at the US$29,930 level after attempting a fresh increase and spiked above the US$30,450 resistance zone yesterday. The next support of BTC is near the US$29,400 level, and resistance is at US$30,250,» Edul Patel, Co-founder and CEO at Mudrex, said. «On the other hand, the whole crypto industry is looking forward to the long-awaited Shanghai upgrade which is set to go live today, allowing phased staking withdrawals,» Patel added. Other top crypto tokens were also trading lower. Tron declined nearly 5%. Meanwhile, BNB, XRP, Litecoin, Dogecoin and Cardano also traded with cuts. The global cryptocurrency market cap was trading lower around $1.22 trillion, falling 1.22% in the last 24 hours.

cryptocurrency markets were trading higher on Tuesday with an increase of over 4% in the crypto market cap in the last 24 hours. Bitcoin (BTC) rose 6.47% to $30,106, whereas Ethereum (ETH) was above the $1,900 level. BTC volume stood at approximately $23.35 billion, rising 87.02% in the last 24 hours. «Bitcoin has reached a level above US$30,000, which it last saw in June of last year. This rise can be attributed to investor optimism towards this week's U.S inflation data, which could potentially impact the Federal Reserve's monetary policy trajectory,» Edul Patel, Co-founder and CEO at Mudrex, said. «BTC has increased by 6% and is now facing fresh resistance at the US$30,500 level. In the event that BTC fails to overcome this resistance, the next support level would be at US$29,200,» Edul added. Other top crypto tokens were also trading higher. Solana jumped nearly 10%. BNB, XRP, Litecoin and Cardano also traded with gains. The global cryptocurrency market cap was trading higher around $1.23 trillion, rising 4.17% in the last 24 hours.

Bitcoin was last up 1.96% at $30,233. (Representational)

cryptocurrency markets were trading higher on Monday. Bitcoin (BTC) rose 1.37% to $28,300, whereas Ethereum (ETH) was above the $1,850 level. BTC volume in the last 24 hours stood at approximately $12.43 billion, rising 30.14% in the last 24 hours. «Most cryptocurrencies rose over the weekend as markets reacted to the non-farm payrolls report, which showed that 236,000 jobs were added to the U.S. economy last month. Bitcoin was back above the US$28,000 level,» Edul Patel, Co-founder and CEO at Mudrex, said. «BTC's support now lies at US$27,900, while the resistance lies at US$29,200. On the other hand, Ethereum is attempting to move towards the US$1,900 level and is currently trading flat at the US$1,850 level ahead of the Shanghai update scheduled for April 12th,» Edul added. Other top crypto tokens were also trading higher. BNB, Dogecoin, Solana and Shiba Inu rose up to 2%. The global cryptocurrency market cap was trading higher around $1.18 trillion, rising 0.85% in the last 24 hours.

Meanwhile, in the husk of a onetime aluminum smelting plant an hour outside of Austin, row upon row of computers were using enough electricity to power about 6,500 homes as they raced to earn bitcoin, the world’s largest cryptocurrency. The computers were performing trillions of calculations per second, hunting for an elusive combination of numbers that bitcoin’s algorithm would accept. About every 10 minutes, a computer somewhere guesses correctly and wins a small number of bitcoins worth, in recent weeks, about $170,000. Anyone can try, but to make a business of it can require as much electricity as a small city. In Texas, the computers kept running until just after midnight. Then the state’s power grid operator ordered them shut off, under an agreement that allowed it to do so if the system was about to fail. In return, it began paying the bitcoin company, Bitdeer, an average of $175,000 an hour to keep the computers offline. Over the next four days, Bitdeer would make more than $18 million for not operating, from fees ultimately paid by Texans who had endured the storm.

bitcoin flies high, investors are keeping their options open, judging by a record race to derivatives. Open interest for bitcoin options and futures has spiked over the past month as fear has stalked global banking, hitting an all-time high of 433,540 contracts on March 23 on Deribit, a leading exchange for crypto-focused derivatives products. In the 12 months preceding March, by contrast, open interest ranged between 150,000 and 300,000, referring to the number of contracts yet to be settled between buyers and sellers, which provides a measure of investor participation in a market. Most options traders are betting on bitcoin prices jumping higher, with open interest in call options at 206,979 contracts on Deribit, more than double the bearish put options of 93,857.

cryptocurrency markets were trading in the red on Monday. Bitcoin (BTC) fell 2.62% to $27,706, whereas Ethereum (ETH) was below the $1,800 level. BTC volume stood at approximately $13.60 billion, rising 28.72% in the last 24 hours. «Bitcoin has traded below the US$28,000 zone in the past 24 hours as investors await fresh productivity and jobs data in the US this week. The immediate support lies at the US$27,500 level, while the resistance is at the US$28,100 zone and the trendline,» Edul Patel, Co-founder and CEO at Mudrex, said. Other top crypto tokens were also trading lower. Dogecoin declined over 7%. Shiba Inu, Solana and BNB were also trading lower. The global cryptocurrency market cap was trading lower around $1.16 trillion, falling 2.27% in the last 24 hours. The total volume in DeFi is currently 3.62 billion, 10.61% of the total crypto market 24-hour volume. The volume of all stablecoins is now $29.78 billion, which is 87.42% of the total crypto market 24-hour volume.

Russian cybersecurity firm Kaspersky has warned of a new form of attack on cryptocurrency firms, which it says is carried out with "surgical precision" by hackers using corrupted software. 

Dogecoin's value skyrocketed by over 30% today after Elon Musk’s Twitter adopted the meme coin's symbol as its logo. The change took place following his recent request to dismiss the $258 billion Dogecoin lawsuit he's facing. 

cryptocurrency markets were trading mixed on Friday. Bitcoin, Dogecoin and Solana were trading with cuts, while BNB, XRP and Tron were trading with gains. Bitcoin (BTC) fell 1.91% to $28,074, whereas Ethereum (ETH) was above the $1,800 level. BTC volume stood at approximately $19.14 billion, falling 17.89% in the last 24 hours. «Bitcoin was seen consolidating above the US$28,000 pivot level in the past 24 hours following a recent surge above the US$29,000 level. This consolidation could be due to the anticipation of the upcoming US GDP report,» Edul Patel, Co-founder and CEO at Mudrex, said. «There is a key bullish trend line forming with support near US$27,900. BTC’s immediate resistance now lies at the US$28,500 level and then US$ 28,850 zone. However, BTC has not yet acquired enough strength to make a sharp move but the key uptrend support remains intact,» Edul added.

cryptocurrency market experienced a significant surge, with Bitcoin leading the charge and gaining over 30%. The rally can be attributed to several factors, including a massive short squeeze, a billion-dollar buy by Binance, the Fed's response to the banking crisis, and news on Ethereum's upcoming update. Over $300 million in leveraged BTC short positions were liquidated, resulting in over $300 million in buying pressure for BTC. This is a substantial amount during a bear market when it doesn't take nearly as much money to move prices up or down. The rally was also helped by the fact that Binance turned $1 billion worth of BUSD into BTC, ETH, BNB, and other unnamed cryptocurrencies. Another factor is the official announcement of the Ethereum Shanghai hard fork update date (April 12), which will allow users to withdraw their staked ETH and is expected to stimulate Ethereum market demand. Institutional investors are expected to find ETH more appealing because they love yield, and the ability to earn a yield on what is effectively the next network for payments is an attractive prospect. It is believed that many institutions were hesitant to stake ETH because it wasn't possible to unstake, but this will change with Shanghai, and millions, if not billions, of dollars could flow into ETH in the days and weeks that follow. BTC is also considered sensitive to changes in money supply, and as such, many have argued that the increase in the size of the Fed's balance sheet is the key driver of the rally.

Born from the visionary pages of Neal Stephenson's 1992 science fiction novel Snow Crash, the metaverse is a concept for a three-dimensional, where users can interact in a more engaging and natural way. 

cryptocurrency markets were trading higher on Wednesday with a 3.7% increase in the global crypto market cap. Bitcoin (BTC) rose 3.86% to $28,101, while Ethereum (ETH) was above the $1,800 level. BTC volume stood at approximately $19.07 billion, rising 2.97% in the last 24 hours. «Most cryptocurrencies rose in the past 24 hours following improved US Consumer Confidence in March. Bitcoin regained its position above the US$28,000 level. BTC has the potential to recover the US$30,000 level it lost during the June 2022 bear market. If BTC continues to stay above US$27,000 and attempts to take by storm the US$28,600, we might see it growing upward,» Edul Patel, Co-founder and CEO at Mudrex, said. Other top crypto tokens were also trading higher. XRP zoomed nearly 12%. Cardano, Polygon and Litecoin were also trading with gains. The global cryptocurrency market cap was trading lower around $1.18 trillion, rising 3.73% in the last 24 hours.

FDIC) has informed collapsed lender Signature Bank's crypto clients that they have until April 5 to close their accounts and move their money. The deposits in question were not part of a rescue deal arranged with Flagstar Bank, a unit of New York Community Bancorp, earlier this month. «Flagstar's bid did not include about $4 billion in deposits related to Signature's digital-asset business,» an FDIC spokesperson said. «Those are the deposits we are encouraging customers to move before April 5. If they have not by that day, we will mail checks to the address on record.»

cryptocurrency markets were trading in the red on Tuesday. Bitcoin (BTC) fell 2.66% to $27,048, whereas Ethereum (ETH) was below the $1,750 level. BTC volume in the last 24 hours stood at approximately $18.55 billion, rising 26.88%. «The crypto market is feeling the pressure of CFTC action against Binance as BTC price has slipped around the $27,000 level which is a drop of nearly 3% in the last 24 hours. We can expect the market to remain choppy in the coming weeks owing to the latest developments,» Shivam Thakral, CEO of BuyUcoin, said. Other top crypto tokens were also trading lower. BNB declined over 5%. Dogecoin, Polygon and Litecoin were also trading with cuts. The global cryptocurrency market cap was trading lower around $1.13 trillion, falling 1.96% in the last 24 hours.