BENCHMARK
| Indices | LTP | Change (%) |
|---|---|---|
| BITCOIN | $27850 | 0.08% |
| ETHEREUM | $1745 | 1.83% |
CRYPTO STATS(24H)
| Indices | VALUE | Change (%) |
|---|---|---|
| MARKET CAP | $1.21 T | 1.10% |
| TRADING VOLUME | $128 B | 35.35% |
Top 5 GAINER
| Indices | LTP | Change (%) |
|---|---|---|
| AXE | $0.0048 | 147.87% |
| BONFI | $0.000028 | 115.06% |
| RECAST1 | $0.0000078 | 113.98% |
| DYPIUS | $0.23 | 92.72% |
| DOEX | $0.00041 | 90.87% |
Top 5 Loser
| Indices | LTP | Change (%) |
|---|---|---|
| DEGEN INDEX | $0.000072 | 99.99 |
| RELEASE | $0.0000026 | 68.68% |
| FUTURE COIN | $0.032 | 67.99% |
| AIDOS KUNEEN | $0.017 | 61.48% |
| YOYOW | $0.0024 | 35.51% |
Bitcoin remained stagnant below the US$28,000 mark. Meanwhile, Ether and most other top 10 non-stablecoin cryptocurrencies experienced a decline after a week of gains. This drop in value was due to concerns about bank failures, which caused investors to become cautious.
Major Events Around the World
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Tesla's CEO, Elon Musk, recently shared his perspective on the current crisis surrounding bank failures. This comes amidst intense scrutiny of the regulatory handling of banks. The recent failures of Silicon Valley Bank and Signature Bank in the United States, as well as the emergency merger deal between Credit Suisse and UBS Group, have resulted in a significant decline in the value of bank stocks across markets. Interestingly, the crypto market has taken an inverse correlation to the macro behaviour dominated by the news of the bank crisis.
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On Monday, Ripple Labs submitted a new notice of support in the ongoing legal battle between XRP and the SEC to Judge Analisa Torres of the US District Court Southern District of New York. This notice is an extension of Ripple's fair notice defence, which argues that the SEC did not provide clear guidelines on how XRP should be classified.
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The upcoming decision by the Federal Reserve will have a significant impact on both US equities and cryptocurrencies. The Fed is currently facing a dilemma as it tries to combat inflation while simultaneously dealing with a banking crisis that has necessitated the injection of $300 billion into the economy. This move has effectively undone all the monetary tightening measures that the Fed had implemented over the past six months.
COINGABBAR Views: The upcoming Federal Reserve meeting on Tuesday is expected to have a significant impact on the price of BTC. As investors eagerly await the outcome of the meeting, it is crucial to keep a close eye on the market trends and fluctuations. The Fed's decision will undoubtedly have a ripple effect on the cryptocurrency market, and it is essential to stay informed and prepared for any potential changes. Stay tuned for updates on the Fed's decision and its impact on the Crypto market. For more information Stay tuned with us at www.coingabbar.com
Also read: Over 80 Cryptocurrency Companies Are Considering a Foothold in Hong Kong
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
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