Cryptocurrency Financial News

cryptocurrency markets were trading mixed on Monday. Bitcoin, Tron and BNB were trading with gains, while Ethereum, Cardano and Litecoin were trading with cuts. Bitcoin (BTC) surged 1.16% to $27,832, whereas Ethereum (ETH) was below the $1,750 level. BTC volume in the last 24 hours stood at approximately $14.36 billion, rising 10.14% in the last 24 hours. «Bitcoin started the new week by consolidating above the US$27,000 support level. BTC started a downside correction after it failed to clear the US$28,000 resistance zone last week. However, bulls seem to be active near the US$27,000 support,» Edul Patel, Co-founder and CEO at Mudrex, said. «BTC’s immediate resistance now lies at the US$28,150 level. A close above this level may start another major increase. Meanwhile, on the other hand, Ethereum also continued to trade above the US$1,700 level,» he added.

cryptocurrency markets were trading higher on Friday. Bitcoin (BTC) rose 2.21% to $28,262, whereas Ethereum (ETH) was above the $1,800 level. BTC volume in the last 24 hours stood at approximately $22.93 billion, falling 29.05% in the last 24 hours. «The crypto market reacted sharply to the interest rate hike announced by Fed in its latest FOMC meeting. Bitcoin was poised to test the $30,000 level but lost steam after Fed continued its hawkish stance to tame soaring inflation. Bitcoin recovered from the Fed shock today and is back above the $28,000 level, while Ethereum and other digital assets showed a similar upward trend,» Dhruvil Shah, SVP of Technology at Liminal, said. Other top crypto tokens were also trading higher on Friday. Litecoin surged over 8%. Dogecoin, XRP and Tron were also trading with gains. The global cryptocurrency market cap was trading higher around $1.18 trillion, rising 2.24% in the last 24 hours. The total volume in DeFi is currently 4.31 billion, 7.94% of the total crypto market 24-hour volume. The volume of all stablecoins is now $49.85 billion, which is 91.78% of the total crypto market 24-hour volume.

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.

cryptocurrency markets were trading higher in Wednesday's trade. Bitcoin (BTC) rose 1.67% to $28,234, whereas Ethereum (ETH) was above the $1,800 level. BTC volume in the last 24 hours stood at approximately $34.56 billion, falling 16.49%. «Bitcoin is trading above $28,000 ahead of the crucial Fed meeting amidst the ongoing banking crisis in the US. If the Fed decides to hike the interest rate, there may not be a knee-jerk reaction from the markets, as investors are anticipating a rate hike of 25 basis points. In case of no rate hike by the Fed, we can expect the upward trend to continue in the coming weeks,» Shivam Thakral, CEO of BuyUcoin, said. Other top crypto tokens were also trading higher. XRP zoomed over 20%. Dogecoin, Shiba Inu, Cardano and BNB were also trading with gains. The global cryptocurrency market cap was trading higher around $1.18 trillion, rising 2.43% in the last 24 hours. The total volume in DeFi is currently 5.18 billion, 7.83% of the total crypto market 24-hour volume. The volume of all stablecoins is now $60.33 billion, which is 91.16% of the total crypto market 24-hour volume.

cryptocurrency markets were trading marginally lower today. Bitcoin (BTC) was below the $27,800 level, whereas Ethereum (ETH) was below the $1,750 level. Meanwhile, the global cryptocurrency market cap was trading lower around $1.15 trillion, falling 0.64% in the last 24 hours. «Most cryptocurrencies slipped late Monday as investors await Wednesday's US central bank's next interest rate decision. Bitcoin traded above the $28,000 level on Monday after the US Federal Reserve announced it had teamed up with five other major central banks to ensure the flow of the US dollar. However, it has since decreased slightly and is trading at the US$27,800 level,» Edul Patel, Co-founder and CEO at Mudrex, said. Other top crypto tokens were also trading lower on Tuesday. As of 11.40 am, Litecoin was trading over 4% down, while Polkadot, Shiba Inu and Dogecoin slipped over 2%.

Silicon Valley Bank on 10th March 2023, Bitcoin prices have zoomed nearly 40%. «The current BTC rally is driven by the importance of decentralised finance in the global financial system after a series of bank collapses in the US. Bitcoin being the torch bearer of decentralised finance is witnessing a demand from retail and institutional investors amidst the banking chaos as BTC is being deployed as a shield against the ongoing crisis,» Dhruvil Shah, SVP of technology at Liminal, said. Meanwhile, Edul Patel, CEO and Co-Founder of Mudrex, said, «The collapse of SVB and Silvergate was like a Cyprus moment for crypto. As these crypto-friendly banks collapsed, much money flowed directly into the cryptocurrency ecosystem. And a chunk of the smart money usually flows into blue-chip cryptocurrencies, such as Bitcoin and Ethereum.» «With instability in the banking sector, inflation data that exceeded expectations, and renewed optimism about a dovish Federal Reserve, Bitcoin has reached levels unseen in approximately nine months,» Edul added.

In the rapidly evolving world of metaverse gaming and metaverse cryptos, a new player has emerged with the potential to reshape the landscape of the industry: RobotEra. 

cryptocurrency conference in Denver this month, a group of singers clad in bright orange onesies took the stage to perform what one industry website later described as an anthem for the crypto faithful, a “blockchain ‘Blowin’ in the Wind.’” The chorus was a list of crypto’s most notorious villains, from trash-talking entrepreneur Do Kwon to disgraced FTX founder Sam Bankman-Fried, punctuated by four-letter expletives. “In the next bull market, we promise not to use,” the song continued, “centralized exchanges run by these toxic dudes.” After a disastrous 2022, when a procession of prominent crypto firms imploded, the industry is angling for an audacious rebrand. Executives like Kwon and Bankman-Fried — once beloved crypto celebrities, with hundreds of thousands of devotees hanging on their every tweet — are now personae non gratae. Their former admirers argue that these crypto villains never truly embodied the industry’s core values, even before their companies collapsed.

Bitcoin climbed to a nine-month high on Monday as turmoil in the banking sector drives some investors to turn to digital assets, as the cryptocurrency built on its best week in four years. The biggest cryptocurrency rose as far as $28,567, its highest since mid-June, and was last up 0.9%, amid growing expectations that central banks would slow the pace of interest rate hikes. Bitcoin rose 26% last week, its best weekly gain since April 2019, and has soared some 40% in 10 days as turmoil in the banking sector rippled around the globe — culminating, so far, in UBS Group's takeover of rival Credit Suisse Group AG over the weekend. Traditional assets such as banking stocks and bonds plummeted on Monday after UBS sealed its state-backed takeover of Credit Suisse, a deal orchestrated in an attempt to restore confidence in a battered sector.

cryptocurrency markets were trading mixed on Monday. Bitcoin, Solana and BNB gained, while Ethereum, Polygon and Shiba Inu were trading with cuts. «BTC broke above $28,000 briefly on Monday as the collapse of US banks like SVB and signature has rekindled the debate on the importance of DeFi and digital assets. Bitcoin is poised to test $30,000 very soon but may face some resistance at that level. The FOMC meeting this week will be a major market-moving factor,» Shivam Thakral, CEO of BuyUcoin, said. Edul Patel, Co-founder and CEO at Mudrex, said, «With instability in the banking sector, inflation data that exceeded expectations, and renewed optimism about a dovish Federal Reserve, Bitcoin has reached levels unseen in approximately nine months.» Bitcoin (BTC) rose 1.10% to $27,519, while Ethereum (ETH) was above the $1,750 level. The global cryptocurrency market cap was trading around $1.16 trillion, rising 0.13% in the last 24 hours.

Huang Tien-mu told lawmakers in parliament that the Financial Supervisory Commission will initially be responsible for the supervision of payments and transactions, but will not cover NFTs, or «non-fungible tokens». Huang said he will discuss the details with other government departments as well as «self-discipline norms» with relevant industries.

Bitcoin, the world's biggest and best-known cryptocurrency, is up 65.9% from the year's low of $16,496 on Jan. 1.Ether, the coin linked to the ethereum blockchain network, rose 5.5% to $1,768.5 on Friday, adding $91.6 to its previous close.

cryptocurrency markets were trading higher in Friday's trade with crypto heavyweights like BTC and ETH leading the rally. Bitcoin (BTC) rose 5.45% to $25,906, whereas Ethereum (ETH) was above the $1,700 level. «Bitcoin is inching closer towards the $26,000 mark. Following the Arbitrum Airdrop announcement that came out yesterday evening, the sentiments across the crypto market took a positive turn. It is one of the biggest and most awaited events since the past several months,» Edul Patel, Co-founder and CEO at Mudrex, said. Other top crypto tokens were also trading higher. BNB and Polygon surged over 4%. Dogecoin, Solana and Shiba Inu were also trading with gains. Meanwhile, the global cryptocurrency market cap was trading higher around $1.11 trillion, rising 3.85% in the last 24 hours. The total volume in DeFi is currently 5.31 billion, 7.97% of the total crypto market 24-hour volume. The volume of all stablecoins stood at $63.35 billion, which is 94.99% of the total crypto market 24-hour volume.

The excitement surrounding the metaverse has been growing exponentially in recent years and RobotEra is a metaverse platform at the forefront of this emerging industry. Having already raised over a million dollars in its ongoing presale the Web3 game focuses on user-centric world-building, a player-powered NFT economy, and decentralized governance.

cryptocurrency markets were trading mostly in the red in Wednesday's trade amid worries over bank industry turmoil in the US. Bitcoin (BTC) fell 1.52% to $24,532 whereas Ethereum (ETH) was below the $1,700 level. BTC volume in the last 24 hours stood at approximately $21.38 billion, falling 21.37% in the last 24 hours. «Bitcoin is currently trading at the US$24,000 level, experiencing a slight price decline from the previous day as market participants consider liquidity issues. Additionally, investors are analyzing the possibility of a European banking crisis resulting from concerns surrounding the often-embattled Credit Suisse,» Edul Patel, Co-founder and CEO at Mudrex, said. Shivam Thakral, CEO of BuyUcoin, said, «The latest developments at Credit Suisse may spook the global markets and spoil the crypto party in the coming weeks.»

The rate at which the Ether (ETH) supply is deflating, which has been accelerating in recent weeks, recently saw a spike higher. Ether is the cryptocurrency that powers the smart-contract-enabled Ethereum blockchain. ETH is the world’s second most valuable cryptocurrency by market capitalization and Ethereum is the dominant blockchain in Decentralized Finance.

cryptocurrency markets were trading higher in Wednesday's trade amid easing worries over bank industry turmoil and release of largely on-target US inflation data. Bitcoin (BTC) rose 1.95% to $24,943 whereas Ethereum (ETH) was above the $1,700 level. BTC volume in the last 24 hours stood at approximately $53.82 billion, rising 12.50% in the last 24 hours. «The UK government bailing out the Silicon Valley Bank has created a positive sentiment within the investment community and which may have increased buying activity. As per the latest data, US consumer inflation has slowed down but it’s still on the higher side which may drive Fed to continue its hawkish stance. If the macroeconomic factors continue to remain favourable then we may see Bitcoin testing $30,000 level very soon,» Shivam Thakral, CEO of BuyUcoin, said. Other top crypto tokens were also trading higher. Dogecoin, Solana, Polygon and Polkadot were trading over 3% higher. Meanwhile, the global cryptocurrency market cap was trading higher around $1.10 trillion, rising 2.24% in the last 24 hours.

cryptocurrency markets were trading higher in Tuesday's trade. Bitcoin (BTC) rose 9.25% to $24,514 whereas Ethereum (ETH) was above the $1,650 level. BTC volume stood at approximately $48.26 billion, rising 39.89% in the last 24 hours. Meanwhile, the global cryptocurrency market cap was trading higher around $1.08 trillion, rising 5.11% in the last 24 hours. «In the last 24 hours, Bitcoin experienced a surge of almost 10%, surpassing the US$24,000 mark, following the announcement that U.S. regulators have backed Silicon Valley Bank and Signature Bank. This news has given investors, and traders hope that the banking sector's recent near meltdown will prompt the Federal Reserve to ease its monetary hawkishness. As a result, BTC has risen above a floor and reached a two-week high,» Edul Patel, Co-founder and CEO at Mudrex, said. Other top crypto tokens were also trading higher. Dogecoin, Solana, Polygon and Polkadot were trading over 3% higher.

cryptocurrency markets were trading higher in Monday's trade following a report of the US government's plans to safeguard all depositors at Silicon Valley Bank, Meanwhile, the global cryptocurrency market cap was trading higher around $1.02 trillion, rising 7.63% in the last 24 hours. Bitcoin (BTC) rose 9.24% to $22,462 whereas Ethereum (ETH) was above the $1,600 level. BTC volume stood at approximately $34.89 billion, rising 39.84% in the last 24 hours. «The crypto market cap is back above the $1 trillion mark and BTC has surged by over 8% in the last 24 hours and is trading above the $22,300 mark. The positive mood of the market is mainly due to the federal regulators hinting towards recovering Silicon Valley Bank’s customer deposits. The news has uplifted the investor sentiment with a promise of more liquidity in the market,» Shivam Thakral, CEO of BuyUcoin, said.

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.

"Once a boom is well started, it cannot be arrested. It can only be collapsed."  - John Kenneth Galbraith