Cryptocurrency Financial News

Major cryptocurrencies were trading in the green on March 2 as the global crypto market cap increased 1.79 percent to $1.08 trillion, over the last day. The total crypto market volume over the last 24 hours increased 12.29 percent to $48.69 billion.

Crypto exchange BitBNS’ founder Gaurav Dahake on March 1, said that some part of the firm’s funds did get compromised on February 1, 2022 but it wasn’t an abnormal scenario. This comes hours after an independent crypto scam researcher, ZachXBT, tweeted that the cryptocurrency exchange was covering up a $7.5 million hack under the guise of system maintenance.

Bjorn Ulvaeus, one-quarter of Swedish pop group ABBA, became a standard-bearer for a world without cash after his son got burgled. Ditching coins and banknotes would hurt criminals and tax-dodgers while helping businesses and government budgets, he reckoned. “Sweden would be the ideal country to make cashless,” he told Bloomberg in 2014. “I think that should be the future.”

cryptocurrency markets were trading lower on Tuesday. Bitcoin (BTC) fell 0.31% to $23,435, whereas Ethereum (ETH) was below the $1,650 level. BTC volume in the last 24 hours stood at approximately $22.28 billion, rising 29.46% in the last 24 hours. «On Monday, most cryptocurrencies declined after the release of the US Durable Goods Orders data for January. The data showed a 4.5% drop, causing concern among investors and traders about the possibility of inflation and interest rate hikes, despite strong economic data for the same period,» Edul Patel, Co-founder and CEO of Mudrex, said. Other top crypto tokens were also trading lower on Tuesday. Polygon declined by 3.5%. Solana, Polkadot, Shiba Inu, and Litecoin were also trading lower. The global cryptocurrency market cap was trading lower around $1.07 trillion, falling 0.45% in the last 24 hours. The total volume in DeFi is currently 5.06 billion, 11.17% of the total crypto market 24-hour volume. The volume of all stablecoins is now $40.53 billion, which is 89.48% of the total crypto market 24-hour volume.

Indian-origin Nishad Singh, who was part of Sam Bankman-Fried’s inner circle that ran his crypto empire FTX, pleaded guilty to US criminal charges on Tuesday, and agreed to cooperate with the investigation into Bankman-Fried, Reuters reported.

Bitcoin, the world’s largest digital currency, surged last week, breaking past the $25,000 mark and reaching a new high for 2023. This was an almost 60 percent gain for the cryptocurrency from the low of $15,742 in 2022 following the FTX crisis in November. Bitcoin's value has been increasing steadily since then.

Some members of the G20 said during this week's discussions that a complete ban on crypto should be considered, Reserve Bank of India (RBI) Governor Shaktikanta Das said.

Finance ministry officials and central bankers from G20 countries are seemingly in agreement when it comes to the regulation of crypto assets, with a complete ban on them also on the table.

cryptocurrency markets were trading in the red on Friday. Bitcoin (BTC) fell 2.17% to $23,868, whereas Ethereum (ETH) was below the $1,650 level. BTC volume in the last 24 hours stood at approximately $28.71 billion, falling 0.91% in the last 24 hours. «Bitcoin traded sideways in the past 24 hours as investors continued evaluating US monetary policy and jobs data. BTC is trading below the US$24,000 level, although it has increased by 74% since its lowest point last month. Its support level lies at $23,800, while resistance is at$24,200,» Edul Patel, CEO and Co-founder of Mudrex, said. Other top tokens were also trading lower on Friday. Polygon declined by 4%. Polkadot, Shiba Inu, Cardano, and BNB were also trading with cuts. The global cryptocurrency market cap was trading lower around $1.09 trillion, falling 1.57% in the last 24 hours. The total volume in DeFi is currently 6.32 billion, 11.31% of the total crypto market 24-hour volume. The volume of all stablecoins is now $50.26 billion, which is 89.91% of the total crypto market 24-hour volume.

cryptocurrency markets were trading in the red on Wednesday, ahead of the release of the FOMC minutes later in the day. Bitcoin (BTC) fell 3.23% to $24,077, whereas Ethereum (ETH) was just below the $1,650 level. BTC volume in the last 24 hours stood at approximately $32.44 billion, rising 17.9% in the last 24 hours. «Bitcoin is trading sideways between $24,300 and $23,900 as investors await the release of FOMC meeting minutes. The current support level for Bitcoin is $23,750, with the next support level at $22,850 determined by the 50% Fibonacci retracement mark,» Sathvik Vishwanath, Co-Founder & CEO of Unocoin, said. The global cryptocurrency market cap was trading higher, around $1.10 trillion, falling 2.8% in the last 24 hours. The total volume in DeFi is currently $9.42 billion, 13.81% of the total crypto market 24-hour volume. The volume of all stablecoins is now $60.40 billion, which is 88.54% of the total crypto market 24-hour volume.

cryptocurrency markets were trading higher on Thursday. Bitcoin (BTC) fell 1.21% to $24,407, whereas Ethereum (ETH) was above the $1,650 mark. BTC volume in the last 24 hours stood at approximately $29.04 billion, falling 17.78% in the last 24 hours. «The crypto market was a little jittery after FOMC minutes showed that inflation and recession threats are still real. BTC and other digital assets were in red after the discouraging minutes of the FOMC meeting but the market quickly digested the impact and recovered. It will be interesting to see if central banks will continue their hawkish stance or relax monetary policies in the coming weeks,» Shivam Thakral, CEO of BuyUcoin, said. Other top crypto tokens were also trading higher on Thursday. Shiba Inu surged 5%. Solana, Cardano, Polygon, and BNB were also trading with gains. The global cryptocurrency market cap was at around $1.11 trillion, rising 1.26% in the last 24 hours. The total volume in DeFi is currently 7.42 billion, 12.12% of the total crypto market 24-hour volume. The volume of all stablecoins is now $55.47 billion, which is 90.69% of the total crypto market 24-hour volume.

Prime Minister Narendra Modi called upon G20 member nations to develop standards and regulations for cryptocurrencies to mitigate the risks of destabilisation and misuse posed by innovation in digital finance.

cryptocurrency market was trading higher on Tuesday. Ethereum (ETH) rose over 0.62% to $1,700, whereas Bitcoin (BTC) was above the $25,000 level. BTC volume in the last 24 hours stood at approximately $27.52 billion, falling 4.37% in the last 24 hours. «The release of the FOMC minutes on Wednesday could affect the price of Bitcoin, as any hint of a shift in US monetary policy can affect financial markets. Bitcoin is currently trading in a range of $23,700 to $25,200 with another resistance level at $25,200. Technical indicators such as RSI and MACD are showing divergence, indicating uncertainty among investors. If the price breaks below the $23,750 support level, the next support level is $22,850,» Sathvik Vishwanath, Co-Founder & CEO of Unocoin said. The global cryptocurrency market cap was trading higher around $1.13 trillion, rising 1.09% in the last 24 hours. The total volume in DeFi is currently $7.57 billion, 12.20% of the total crypto market 24-hour volume. The volume of all stablecoins is now $55.01 billion, which is 88.73% of the total crypto market 24-hour volume.

MATIC, the ticker for the cryptocurrency that powers the layer-2 Ethereum scaling solution Polygon, has been pulling back sharply in the last few days, after becoming overbought according to the 14-Day Relative Strength Index earlier this month. That coincided with when MATIC hit fresh multi-month highs in the $1.57 area, with the cryptocurrency now around 15% lower near $1.34. For now, MATIC is holding to the north of its 21-Day Moving Average (DMA) and the resistance-turned-support area around $1.30.

cryptocurrency markets were trading mixed on Monday. Bitcoin, Ethereum, and XRP were trading with cuts, while Solana, Shiba Inu, and Cardano were trading with gains. Bitcoin (BTC) fell 0.69% to $24,497, whereas Ethereum (ETH) was just below the $1,700 level. BTC volume in the last 24 hours stood at approximately $28.58 billion, rising 50.22% in the last 24 hours. «It’s a great start for the week as Bitcoin is ready to test the crucial $25,000 mark. If Bitcoin finds strong support at the $24,000 level then it will provide much-needed momentum for BTC to test $30,000 in near future,» Shivam Thakral, CEO of BuyUcoin said. The global cryptocurrency market cap was trading lower around $1.12 trillion, falling 0.11% in the last 24 hours.

crypto market started the week with a correction after the US-based crypto exchange, Kraken, paused its staking service and paid a fine of US$30 million to the SEC last week for failing to register the service. Bitcoin started by trading at US$22,000 level and dropped to US$21,000 before the release of the US CPI data. After the release, most cryptocurrencies rallied. Bitcoin hit its highest peak since August on Thursday. BTC traded at the US$25,250 level. However, BTC could not sustain the gains and fell back to the US$23,000 level after the PPI data release, which was higher than expected, raising concerns among investors and traders over the inflation. Whenever there is a fear of inflation, BTC falls as it does not like it. Investors run short of funds to spend when interest rates go up. Hence BTC falls. Despite the decline, BTC is up by more than 72% from its cycle’s lowest point in January.

Major cryptocurrencies were trading largely higher on February 21 as the global crypto market-cap rose 1.36 percent to $1.13 trillion. The total crypto market volume over the last 24 hours decreased 0.21 percent to $63.34 billion.

The Ministry of Technology and Science has announced that it is testing technology to regulate crypto as Zambia embarks on its mission to become a regional hub.

cryptocurrency markets were trading in the red on Friday with a loss of over 3% in the last 24 hours. Bitcoin (BTC) fell 4.1% to $23,695, whereas Ethereum (ETH) was just above the $1,650 level. BTC volume in the last 24 hours stood at approximately $38.98 billion, rising 6.82% in the last 24 hours. «After briefly hitting the six-month high of US$25,000 on Thursday, the price of Bitcoin dropped to US$23,800 due to the unexpected increase in the Producer Price Index (PPI). Despite this setback, BTC has still increased by 73% from its lowest point a month ago. The PPI news might have made investors apprehensive about inflation and monetary policies,» Edul Patel, Co-founder and CEO at Mudrex said. Other top crypto tokens were also trading lower on Friday. Shiba Inu declined by over 6%. BNB, XRP, Cardano and Dogecoin were also trading with cuts. The global cryptocurrency market cap was trading lower around $1.08 trillion, falling 3.13% in the last 24 hours. The total volume in DeFi is currently $7.93 billion, 9.84% of the total crypto market 24-hour volume. The volume of all stablecoins is now $74.32 billion, which is 92.22% of the total crypto market 24-hour volume.

Former Boston Celtics star Paul Pierce was ordered to pay more than $1.4 million in penalties after being charged with making false and misleading statements about crypto securities he was paid to promote, US regulators said Friday.

cryptocurrency market was trading higher on Thursday, with Bitcoin (BTC) rallying over 11% to $24,582, whereas Ethereum (ETH) was above the $1,650 level. BTC volume in the last 24 hours stood at approximately $36.77 billion, rising 36.42% in the last 24 hours. «Bitcoin hovered above the $24,000 level after trading lower for several days. This surge is due to investors liquidating their positions, pushing the price higher. Compared to its low point a month ago, BTC has increased by 61%. In the past 24 hours alone, BTC surged by more than 11%, reaching this level for the first time in two weeks. If bullish investors maintain their momentum, BTC may reach US$25,000 soon. Overall, there is bullish sentiment in the market,» Edul Patel, Co-founder and CEO at Mudrex said. Other top crypto tokens were also trading higher on Thursday. Polygon surged 9.6%. Solana, Cardano, Shiba Inu and BNB were also trading with gains. The global cryptocurrency market cap was trading higher around $1.11 trillion, rising 7.98% in the last 24 hours.