Bitcoin and Ether Prices Dip – The majority of the top 10 non-stablecoin cryptocurrencies traded lower after a week that was disrupted by U.S. regulators’ litigation against Binance, the largest cryptocurrency exchange in the world, for allegedly breaking trading regulations.
Bitcoin fell on Monday morning trading in Asia but continued to trade above the US$28,000 resistance level. U.S. stocks rose on Friday as the Federal Reserve’s favorite inflation gauge suggested that the economy was slowing and that the Fed’s tightening cycle may be coming to an end.
READ ALSO
- The Ultimate Guide to Crypto Asset Management: Strategies and Best Practices
- Top 5 Cryptocurrencies that may Crash in 2023 – Expert Analysis
- Bitcoin and Ether Prices Dip
- Chinese Banks Support HK-Based Crypto – yPredict Foresees a Crypto Bull Run
- Strategies for Bitcoin Investors Amidst Current Market Conditions
The total market value of cryptocurrencies fell 1.10% to US$1.17 trillion. To reach US$31.79 billion over the last 24 hours, the total trade volume grew by 2.96%.
Advertisement
Bitcoin and Ether Prices Dip
According to data from CoinMarketCap, Bitcoin, the most popular cryptocurrency in the world, fell 0.93% to US$28,111 in the 24 hours leading up to 9:00 a.m. in Hong Kong, adding 0.35% over the previous seven days. Following the U.S. Commodities Futures Trading Commission’s action against Binance, Bitcoin dropped to a low of US$26,677 last Tuesday. Since then, it has recovered more than 5.37%.
Ethereum News
Although it traded up 0.61% for the week, Ethereum fell 1.27% to US$1,790. The Shanghai hard fork of the Ethereum network is slated for April 12 and will include a modification that will enable investors to withdraw their staked ETH for the first time.
Dogecoin News
Dogecoin turned out to be the worst performer over the preceding day, falling 5.92% to trade at US$0.07871, but it had gained 5.67% over the previous week. Elon Musk, the CEO of Tesla, is requesting the dismissal of a US$258 billion price manipulation lawsuit, according to Reuters on Saturday. Musk’s tweets have been credited with moving meme cryptocurrency prices.
XRP News
XRP increased by 3.06% to US$0.5192, a gain of 15.57% for the week. The rising hope that Ripple Labs, whose cryptocurrency payment network is powered by XRP, would settle its legal dispute with the U.S. Securities and Exchange Commission (SEC), which accused the company and its executives of violating securities laws, is what is driving the price increase of XRP.
NFT News
As of 9:00 a.m. in Hong Kong, the Forkast 500 NFT index, which measures the non-fungible token (NFT) market, increased 0.37% to 4,067.30, gaining 0.85% for the week. The index, which includes 500 valid smart contracts on any given day, serves as a proxied indicator of the performance of the worldwide NFT market. The data division of Forkast Laboratories, CryptoSlam, oversees it.
Advertisement
Special Offer (SPONSORED)
Binance Free $200 (Exclusive): Use this link to register and receive $200 free trading fee credit (terms).
"3Commas Trading Bot" Special Offer: Use this link to Sign up with 3Commas and get 10% off your first monthly subscription.
Oklo Adiga
My name is Oklo Adiga and I am a blogger that loves writing. I am ambitious and driven, I thrive on challenges and constantly set goals for myself. Always feel free to reach out to me if you have any questions or if you just want to connect.